Besides The U.S. & Canada, India & China Will Be Highly Lucrative Markets For Stretcher Chair Manufacturing Companies Owing To Increasing Investments In Healthcare Infrastructure Development And Rising Cases Of Road Accidents
As of 2022, worldwide sales of stretcher chairs are valued at US$ 225.9 million and the market is predicted to increase at a CAGR of 4.4% over the next five years, according to a new Fact.MR survey.
An increasing number of surgical procedures, growing incidence of chronic diseases, rising rate of hospitalization, and increasing investments in healthcare infrastructure development are key factors that are anticipated to promulgate the demand for stretcher chairs over the coming years. The rising aging and obese population is also projected to favor stretcher chairs market growth as the years go by. To comply with these strict norms suppliers of stretcher chairs have to increase their production costs.
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Increasing prevalence of chronic diseases across the world has led to a significant rise in the rate of hospitalizations and has subsequently driven the demand for stretcher chairs. This trend is expected to be rife over the coming years as well and be a primary driver for the stretcher chairs industry growth. Rising number of surgeries being performed across hospitals and medical centres is also expected to uplift stretcher chair demand.
Rising incidence of road accidents and a spike in trauma cases across the world are also expected to positively influence stretcher chair sales across the forecast period. India has witnessed a prominent increase in its cases of road accidents and is one of the highly lucrative markets for stretcher chair manufacturers in the world.
The growing geriatric population across the world is also anticipated to be a key driver for the market as elderly people require more mobility aids than the general population. The increasing popularity of home care in various countries is also anticipated to benefit the growth of the stretcher chairs market over the next five years and is expected to drive demand for stretcher chairs for home use.
Key Takeaways from Market Study
- The global stretcher chairs market in 2022 accounts for a valuation of US$ 225.9 million.
- Over the next five years, sales of stretcher chairs are anticipated to increase at a 4.4% CAGR.
- By the end of 2027, the global market for stretcher chairs is forecasted to be valued at US$ 281 million.
- Growing prevalence of degenerative diseases, increasing frequency of road accidents, rising cases of trauma, and rising focus on patient handling and safety are prime factors that are expected to boost market development.
- Sales of specialty stretcher chairs are anticipated to increase at 3.5% CAGR across the forecast period.
- The United States market in 2022 is estimated to be valued at US$ 75 million.
- Stringent regulatory norms and high costs of powered stretcher chairs are expected to stunt market growth to some extent.
- The stretcher chairs market in North America accounts for around 45% of the global market share in 2022.
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Stretcher Chairs Industry Research Segmentation
- By Technology :
- Manual Stretcher Chairs
- Powered Stretcher Chairs
- By Product :
- General Stretcher Chairs
- Specialty Stretcher Chairs
- By End User :
- Ambulatory Surgical Centers
- By Region :
- North America
- Latin America
Prime players in the stretcher chairs market are anticipated to focus on product innovation and are expected to launch new products to increase their sales potential. Continuous expansion of the market through acquisitions and mergers is expected to create challenges for new and established market players over the coming years.
All the latest trends in the stretcher chairs market influenced by established and upcoming market players have also been discussed in this Fact.MR research study.
Key Players of Stretcher Chairs
- Acime UK Ltd.
- WyEast Medical Corp.
- Safety First Aid Group Ltd.
- IBIOM Instruments Ltd.
- Jiangsu Rixin Medical Equipment Co. Ltd.
- LINET Group SE
- HILL ROM HOLDINGS Inc.
- Productos Metelicos del Bages SL
- GF Health Products Inc.
- GPC Medical Ltd.
- Stryker Corp.
- Suzhou Fabio Medical Equipment Co. Ltd.
- Midmark Corp.
- NovyMed International BV
- UFSK-International OSYS GmbH
- SCHMITZ and Sohne GmbH and Co. KG
- Winco Mfg. LLC
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Stretcher chair manufacturers are expected to focus on the development and launch of new and advanced products to gain a competitive edge over other market players. The market is highly competitive with some established players accounting for major market shares.
This latest stretcher chairs market research report by Fact.MR, a market research and competitive intelligence provider lists all the key strategies that are being deployed by established market players and start-ups to give a complete overview of the current and projected competitive landscape.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global stretcher chairs market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of technology (manual stretcher chairs, powered stretcher chairs), product (general stretcher chairs, specialty stretcher chairs), and end user (hospitals, clinics, ambulatory surgical centers, others), across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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