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Ambulance Stretchers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5332869
UP TO OFF until Dec 31st 2023

Quick Summary:

Navigating the evolving dynamics of the healthcare industry requires a nuanced understanding of its distinct sectors. One such rapidly evolving sector is the ambulance stretcher market. This market exhibits significant growth potential, driven by increasing demand for emergency transport resulting from a rise in chronic diseases and road accidents globally. As the aging population expands, related health challenges necessitate continuous services, fortifying this demand.

Further strengthening the case for investment in this sector are recent market developments such as the introduction of air ambulances and innovations in ambulance technology. These trends clearly signify evolving customer needs and highlight the relevance of investing in comprehensive and reliable market research reports. Our market report will grant executives key insights into the ever-evolving ambulance stretcher market, enabling enhanced decision-making and strategic planning. Delve into regional market dynamics, competitor analysis, and upcoming trends to equip your business for sustained growth in this promising industry.

Over the next few years, the market for ambulance stretchers is expected to grow at a CAGR of about 3.2%.

The impact of the COVID-19 pandemic on the ambulance stretcher market was minimal. With the surge of COVID-19 cases worldwide, healthcare services were diverted toward emergency cases. Thus, this led to an increase in demand for ambulance services for the emergency transport of COVID-19 patients. In June 2021, the Indian Ministry of Health and Family Welfare published guidelines on the operationalization of COVID care services that indicated that a basic life support ambulance should be equipped with the basic equipment and drugs, including a stretcher trolley with IV stands for the transfer of suspected and affected COVID-19 patients. The demand for ambulance services during the pandemic ensured the optimum supply of stretchers. Furthermore, COVID-19 provided the opportunity for companies to capitalize through ambulance services. In August 2021, HTX launched a motorized stretcher to aid the Singapore Civil Defence Force’s Emergency Medical Services (SCDF EMS) officers in lifting the patients onto the ambulance. Moreover, the rise in the number of people with chronic diseases requiring emergency care and innovation in the ambulance with smart technology may drive the growth of the ambulance stretcher market globally. Thus, the ambulance stretcher market had significant growth during the COVID-19 pandemic.

An increase in chronic diseases is considered the key factor behind the growth of the ambulance stretcher market. The rise in the aging population is associated with a higher chance of developing health disorders, such as cardiovascular diseases, chronic kidney diseases, and respiratory diseases, requiring non-emergency and emergency services. Moreover, an increase in road accidents may require immediate attention and ambulance services. According to a World Health Organization article on road traffic injuries published in June 2022, road accidents are the leading cause of injuries for the population aged 5-29 years. Between 20 and 50 million people suffer from non-fatal injuries, with many incurring a disability as a result of their injury. Developing countries have a high rate of traffic injuries, with a majority of road accidents occurring in low- and middle-income countries. This creates a demand for ambulance stretchers in these regions, which may contribute to market growth.

The most recent development observed in the ambulance market is the introduction of air ambulances. For instance, in May 2021, Blade India launched Blade Care services in response to the increasing demand for air ambulances amid the COVID-19 pandemic. The company partnered with MyHealthcare to provide a seamless medical evacuation and bed-to-bed transfer. Such activities improve the demand for the specially designed stretchers, which can be used in the air ambulances. Thus, it is expected to boost the market's growth.

However, the rising cost of air ambulances and the possibility of adverse events associated with adverse events may limit market growth.

Ambulance Stretchers Market Trends

Transport Stretchers are Expected to Occupy Significant Share of Market over the Forecast Period

Due to the COVID-19 pandemic, all elective procedures were postponed, with services prioritizing COVID-19 patients. The rising number of COVID-19 patients resulted in a state of emergency requiring the immediate transfer of patients to hospitals. The rising demand for ambulance services to offer emergency care to patients may have a minimal impact on the ambulance stretcher market.

Transport stretchers are the most frequently used ambulance stretchers. Aging is an important factor in the development of cardiovascular and metabolic diseases. Due to this, the elderly population is more likely to develop recurring ailments. Therefore, increasing chronic conditions, such as ischemic heart disease, stroke, chronic obstructive pulmonary disease, and chronic kidney disease, in geriatric patients may require more care. According to the GLOBOCAN report, the total number of people in the world affected by cancer is estimated to reach 28,887,940 cases by 2040. The rising number of people affected by chronic diseases who require immediate transport for hospital admissions is expected to add to the segment's growth.

Moreover, there has been the introduction of new transport ambulances to increase accessibility. In February 2021, Ford launched transit ambulances for the United Kingdom under Project Siren. Such activities are expected to add to the transport stretchers market segment.

So, the growing number of older people with more chronic conditions and the rise in the number of ambulance services are likely to increase the demand for emergency ambulance services, which will lead to a larger market share over the next few years.

North America is Expected to Hold the Significant Share in the Ambulance Stretchers Market

There was a rise in the demand for ambulance stretchers in the North American region during the COVID-19 pandemic. The healthcare services had to be directed toward COVID-19 patient management and treatment development. Guiding committees and regulatory bodies provided guidelines to be followed by patients and physicians. Elective procedures were postponed, and only emergency procedures got high priority. Recovery of these backlog procedures may take place gradually, considering the pandemic and resurgence of the disease.

North America is expected to witness notable growth in the ambulance stretchers market over the forecast period, due to the rise in the geriatric population and increasing health expenditure. The Center for Disease Control and Prevention, in its data published in September 2022 on older adults' health in the United States, estimated a rise in the population of adults 65 and older to 80.8 million by 2040 and 94.7 million in 2060, representing nearly 25% of the overall population.

Moreover, the rise in the number of people affected by chronic diseases is likely to boost market growth. For instance, as per the report published in May 2021 by the Canadian Primary Care Sentinel Surveillance Network, around 65% of the adults in Canada were living with at least one chronic disease condition, and over 37% of the adults had two or more chronic conditions. The higher prevalence of chronic diseases in the country will drive the demand for ambulance stretchers. In addition, favorable reimbursement policies in the United States and Canada covering emergency and non-emergency ambulance services are likely to contribute to the ambulance stretcher market.

Ambulance Stretchers Market Competitor Analysis

The ambulance stretcher market remains moderately competitive with the presence of regional players. However, with the rise in the number of road accidents and injuries, the market is expected to create opportunities for companies to capitalize. Major players include Stryker Corporation, Hill-Rom Services Inc. (Baxter), Fu Shun Hsing Technology Co. Ltd., Ferno-Washington Inc., and Narang Medical Limited, among others.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Chronic Diseases with Age
4.2.2 Rising Number of Road Accidents
4.2.3 Rise in Number of Advanced Ambulances
4.3 Market Restraints
4.3.1 Adverse Events Associated with Ambulance Stretchers
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - in USD Millions)
5.1 By Product
5.1.1 Transport Stretchers
5.1.2 Emergency Stretchers
5.2 By Technology
5.2.1 Manual Stretchers
5.2.2 Electric Powered Stretchers
5.2.3 Pneumatic Stretchers
5.2.4 Other Technologies
5.3 By End-User
5.3.1 Clinics/Hospitals
5.3.2 Ambulatory Surgical Centers
5.3.3 Other End-Users
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Arjo
6.1.2 Dragon Industry (ZJG) Co. Ltd
6.1.3 Ferno-Washington Inc.
6.1.4 Fu Shun Hsing Technology Co. Ltd
6.1.5 GF Health Product Inc.
6.1.6 Hill-Rom Services Inc. (Baxter)
6.1.7 Jiangsu Rixin Medical Equipment Co. Ltd
6.1.8 Medline Industries
6.1.9 Narang Medical Limited
6.1.10 ROYAX
6.1.11 Stryker Corporation
6.1.12 Zhangjiagang New Fellow Med Co. Ltd.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Arjo
  • Dragon Industry (ZJG) Co. Ltd
  • Ferno-Washington Inc.
  • Fu Shun Hsing Technology Co. Ltd
  • GF Health Product Inc.
  • Hill-Rom Services Inc. (Baxter)
  • Jiangsu Rixin Medical Equipment Co. Ltd
  • Medline Industries
  • Narang Medical Limited
  • Stryker Corporation
  • Zhangjiagang New Fellow Med Co., Ltd.