Hospital Stretchers Market Size, Share, Growth Analysis, By Product(Fixed Height, Bariatric, Adjustable Height, and Radiographic), By Technology(Motorized, and Non-Motorized), By Application(Daycare/Inpatient, Surgery, Emergency/Trauma, and Ambulatory/Transport), By Region - Industry Forecast 2024-2031

Hospital Stretchers Market size was valued at USD 2590.9 million in 2022 and is poised to grow from USD 2738.58 million in 2023 to USD 4267.03 million by 2031, at a CAGR of 5.7% during the forecast period (2024-2031).

The global hospital stretcher market is projected to witness rapid growth rate as a result of the rising prevalence of chronic diseases, the aging population, rising hospitalization, and technological advancements. Additionally, a growth in the number of surgical and medical operations is anticipated to fuel product demand throughout the projection period. Globally, the prevalence of chronic diseases such as diabetes, heart disease, cancer, respiratory diseases, and other autoimmune conditions is on the rise, which is a major driver in the market's expansion.

The prevalence of chronic diseases is influenced by a number of factors, including the adoption of unhealthy and sedentary lifestyles, an increase in obesity cases, increasing alcohol intake, and increased smoking. Heart disease is one of the biggest killers worldwide. For instance, the WHO estimates that 17.9 million people worldwide pass away each year as a result of CVDs. Additionally, according to the CDC, 655,000 Americans die from heart disease each year, and 805,000 Americans have heart attacks.

The market in the United States will be driven by the high senior population, which has a lowered immune system and is more prone to chronic ailments. The WHO projects that there will be 2 billion people in the world who are 60 years of age or older by the year 2050. By 2050, 80% of the world's senior population will reside in low- to middle-income countries. In addition, the World Bank predicts that by 2050, there will be twice as many individuals over 65 in the world as there were in 2021, or about 727 million people.

Additionally, a spike in the incidence of traffic accidents and fatalities may call for the need for emergency medical services. According to the WHO (2021), about 1.35 million people die in traffic accidents every year. This is more widespread in nations with middle and low incomes and is more common in people under the age of 29. Low- and middle-income nations, which account for 60% of all automobiles worldwide, account for 93% of all traffic deaths. Moreover, over 1.35 million people each year die in traffic accidents, while 20 to 50 million suffer injuries or disabilities, according to the Association for Safe International Roads Travel (ASIRT).

Automobile accident victims require immediate medical care & ambulance services to take them to hospitals. Additionally, these injured/traumatized patients are frequently handled in a stretcher that includes attachments like a footboard, lifting bridles, toe clamps, wrist rests, lifting harnesses, shoulder harnesses, and even floatation accessories. Thus, it is projected that over the indicated study period, the rising frequency of traffic accidents will fuel market expansion.

Additionally, stretchers offer a trustworthy yet affordable substitute in a number of nations where patient bedding is in short supply because of the terrible effects of the COVID-19 pandemic. By adding attachments including operating table extensions, ventilator and additional device support expansions, patient harnesses, remote monitoring of patient’s accessories, and others, stretchers may prove to be a temporary substitute for hospital beds. This element is anticipated to encourage market expansion.