The USA dominated the North American Hospital Stretchers market, which is expected to reach USD $ 1.78 billion by 2032.
According to a newly released Hospital Stretchers Market analysis report by Future Market Insights, global Hospital Stretchers Market sales in 2022 were held at around US$ 2.8 billion. The estimated market growth rate from 2022 to 2032 is 5.7%, which is much greater than the historical rate. Hospital Stretchers market is anticipated to reach US$ 4.8 Billion by 2032. The absolute dollar opportunity for the Hospital Stretchers market will be US$ 2.1 Billion due to a surge in chronic diseases, a growing elderly population, and rising hospitalisation, all of which are important driving reasons for the industry's success.
The prevalence of chronic diseases is linked to the prevalence of sedentary lifestyles, as well as the prevalence of alcohol and smoking intake. Cardiovascular disease is one of the leading causes of death worldwide. CVDs claim the lives of around 17.9 million people each year, according to the WHO. According to the Centres for Disease Control and Prevention, roughly 0.8 million Americans experience a heart attack each year, with approximately 0.6 million dying as a result.
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The increased cancer incidence is increasing the demand for stretchers in hospital settings. According to the International Agency for Research on Cancer (IARC), the cancer burden would increase to 19.3 million cases and 10 million deaths by 2020. As a result, one of the primary elements driving growth is the demand for chronic diseases.
Increased funding for emergency medical services has resulted from increased fatalities and traffic accidents. According to the WHO, over 1.35 million traffic-related deaths occur worldwide each year (2021). Fatalities are most common among people under the age of 29, and they are especially widespread in low- and middle-income nations.
Competitive Landscape
Product commercialization and partnership tactics are expected to be profitable for the hospital stretchers market in the forthcoming years. Market players are concentrating on various business strategies such as mergers and acquisitions, partnerships, and new product launches to strengthen their market position
The key vendors in the global Hospital Stretchers market are Hill-Rom Holdings, Stryker, Mac Medical, TransMotion Medical Inc., Fu Shun Hsing Technology, Narang Medical Limited, ROYAX, and Advanced Instrumentations.
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The recent developments in hospital stretchers markets are:
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Hospital Stretchers market, presenting historical market data (2017 to 2021) and forecast statistics for the period of 2022 to 2032.
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Market Segments Covered in Hospital Stretchers Industry Analysis
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 12, 2023