Stretcher Chairs Market: Surge in Incidence of Chronic Disorders to Drive the Demand
Added: (Thu Feb 14 2019)
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According to the report, the global stretcher chairs market was valued at US$ 215.30 Mn in 2016 and is projected to expand at a CAGR of 4.1% from 2018 to 2026. Surge in incidence of chronic disorders and trauma cases is anticipated to boost demand for stretcher chairs during the forecast period. North America and Europe are projected to dominate the global stretcher chairs market owing to higher adoption and awareness regarding safe patient handling and mobility (SPHM). Asia Pacific, Latin America, and Middle East & Africa are potential markets for stretcher chairs. The market in Asia Pacific is expected to expand at a CAGR of 4.7% from 2018 to 2026.
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Increase in trauma and accident cases across the globe drives the stretcher chairs market. According to the World Health Organization (WHO), road accidents account for around 1.25 million deaths across the globe each year. Additionally, the number of patients with chronic diseases is rising rapidly across the world. This is likely to increase the number of surgical procedures, consequently propelling the global stretcher chairs market.
Powered stretcher chairs is an emerging segment of the stretcher chairs market. The segment is driven by key factors such as increase in demand for technologically advanced stretcher chairs in multispecialty and super-specialty hospitals, and rise in bariatric population whose transport via non-motorized stretchers might be a challenge. Surge in the number of small scale hospitals especially in developing countries, cost effectiveness, and ease of operation are the major factors likely to boost the growth of the manual stretcher chairs segment during the forecast period. Moreover, low cost of manual stretcher chairs make these a preferred choice in developing and cost-sensitive markets. Hence, the segment is expected to continue to dominate the stretcher chairs market during the forecast period.
In terms of end-user, the global stretcher chairs market has been segmented into hospitals & clinics, ambulatory surgical centers (ASCs), and others. The hospitals & clinics segment held major share of the global market in 2017. Growth of the segment can be attributed to availability of multiple service options and devices, and tie-ups with health care companies to enhance health care service offerings. Moreover, hospitals are the preferred choice due to availability of advanced technology and better health care services. The others segment includes home care settings, research & development centers, and academic institutes. Rise in demand for stretcher chairs in home care settings for geriatric patients is projected to drive the segment.
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Geographically, the global stretcher chairs market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global stretcher chairs market in 2017. The market in the region was valued at US$ 123.80 Mn in 2017 owing to a highly developed health care sector, increase in awareness among health care providers about safe patient handling and mobility, and continuous evolution of patient handling technology. Stretcher chairs offer immense growth potential in the region. The stretcher chairs market in Asia Pacific is anticipated to expand at a CAGR of 4.7% during the forecast period due to increase in awareness about safe patient handling and mobility and growth of the health care sector in countries such as China, Japan, and India. Moreover, technological advancements and increase in adoption of stretcher chairs are expected to propel the market in the region during the forecast period.
The global stretcher chairs market is highly fragmented in terms of number of players providing different products. Key players in the global stretcher chairs market include GF Health Products, Inc., medifa GmbH & Co. KG, Winco Mfg., LLC, Stryker Corporation, Hill-Rom Holdings, Inc., Wy'East Medical Corporation, IBIOM Instruments Ltée, AMTAI Medical Equipment, Inc., Productos Metálicos del Bages, S.L. (Promeba), NovyMed International BV, and UFSK-International OSYS GmbH. Expansion of product portfolio through mergers and acquisitions is a key strategy followed by several global players. In September 2016, Hill-Rom Holdings, Inc. acquired all the outstanding shares of Tridien, a company that develops, manufactures, and markets support surfaces and patient positioning devices.
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