Stretcher Chairs Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Stretcher Chairs Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The stretcher chairs market studied was projected to grow with a CAGR of nearly 4.3% over the forecast period. The major factor attributing to the growth of the market is the increase in the incidence of trauma and the increasing number of accidents. According to the report published by the Ministry of Road Transport and Highways, India, the country, ranks 1 in the number of road accident deaths across the 199 countries reported in the World Road Statistics, 2018 followed by China and US. As per the WHO Global Report on Road Safety 2018, India accounts for almost 11% of the accident-related deaths in the World. A total of 4,67,044 road accidents have been reported by States and Union Territories in the year 2018, claiming 1,51,417 lives and causing injuries to 4,69,418 persons. As the number of patients increases the demand for the stretcher chairs grows. However, the high cost of the powered stretcher chairs is the drawback of market growth.

• Manual stretcher chairs are the most regularly used products in the market. The segment is expected to continue to dictate the market during the forecast period due to its multipurpose usage feature. This feature plays a crucial role during medical surgeries, patient transfers via ambulance, and other medical circumstances requiring adjustments. Likewise, purchasing a manual stretcher chair often proves to be an economically better investment in multispecialty hospitals that provide various specialty services. The majority of the countries cannot afford the powered stretcher chairs so the sales of the manual chairs are maximum.
• The other factors that play a crucial role in the growth of the segment are the increasing incidence of accidents, trauma, and other chronic diseases, where there is an emergency and the patients have to be transferred using the stretcher chairs.

North America is expected to dominate the overall market, throughout the forecast period. The market growth is due to the factors such as the presence of key players, high prevalence of accidents and trauma in the region, established healthcare infrastructure are some of the key factors accountable for its large share in the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. In this region United States has the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market. According to Association for Safe International Road Travel, over 37,000 people die in road crashes each year, an additional 2.35 million are injured or disabled, over 1,600 children under 15 years of age die each year, in United States. As per the statistics, the increasing patient pool and increasing disposable revenue in this country boost the market growth of the region.

The Stretcher Chairs market is moderately competitive and consists of several major players. The prospect presents challenges for the market leaders and niche suppliers due to continuous expansion through acquisitions and increase in the number of customers. Major technological trends have been observed among the leading players in the global stretcher chairs market. Some of the companies which are currently dominating the market are GF Health Products, Inc, Winco Mfg LLC, Stryker Corporation, Wy'East Medical Corporation, IBIOM Instruments Ltée, AMTAI Medical Equipment, Inc, Productos Metálicos del Bages, S.L, NovyMed International BV, UFSK-International OSYS GmbH.

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support