The global ambulance stretchers market size is expected to reach USD 823.9 million by 2026, registering a 3.3% CAGR over the forecast period, according to a new report by Grand View Research, Inc. Rising number of road accidents, increasing prevalence of cardiovascular diseases, and favorable reimbursement policies are expected to propel the ambulance stretchers market growth.
Rising medical tourism in countries, such as India, Thailand, Malaysia, Singapore, and Mexico, are among major factors driving the market growth. Aspects that contribute to form a growing medical tourism are, better infrastructure and cheaper treatment costs. A heart bypass surgery costs around USD 113,000 in U.S. However, the same procedure costs USD 10,000 in India, USD 13,000 in Thailand, USD 20,000 in Singapore, USD 9,000 in Malaysia, and USD 3,250 in Mexico. Other procedures such as heart valve replacement, angioplasty, hip replacement, and knee replacement, have significant price differences. Thus, patients from developed countries prefer availing treatments in developing countries like India, Singapore, and Thailand. Hence, rising medical tourism is anticipated to boost the demand for ambulance stretchers, thereby, driving the market growth.
Favorable reimbursement policies in developed countries are also anticipated to boost the market growth. For instance, in the U.S., Medicare Part B always covers and emergency ambulance services. In some cases, it also covers non-emergency ambulance services. Such favorable policies are expected to increase adoption of ambulance services, thereby boosting the ambulance stretchers market’s growth.
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Key Takeaways from the report:
- In terms of revenue, emergency ambulance stretchers segment held the largest share in 2018 owing to rising number of road accidents across the globe.
- Electric powered stretchers segment is anticipated to witness the fastest growth over the forecast period. Electric powered stretchers segment have observed a significant growth attributable to increasing initiatives taken by key companies to launch technologically advanced products.
- North America ambulance stretchers market held the largest share in 2018 due to presence of favorable reimbursement policies, rising prevalence of cardiovascular diseases, and presence of key players in the region.
- Few prominent players operating in the ambulance stretchers market are Stryker Corporation, Hill-Rom Services Inc., Medline Industries, Inc., Fu Shun Hsing Technology Co. Ltd., Ferno-Washington, Inc., Zhangjiagang New Fellow Med Co., Ltd., Narang Medical Limited, and ROYAX. Key players are adopting strategies such as mergers, acquisitions, and product launches to strengthen their foothold in the market.
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Grand View Research has segmented the ambulance stretchers market report based on product, end use and region:
Ambulance Stretchers Product Outlook (Revenue, USD Million; 2015 – 2026)
- Emergency Stretchers
- Transport Stretchers
Ambulance Stretchers Technology Outlook (Revenue, USD Million; 2015 – 2026)
- Manual Stretchers
- Electric Powered Stretchers
- Pneumatic Stretchers
Ambulance Stretchers End Use Outlook (Revenue, USD Million; 2015 – 2026)
- EMS Service Providers
- Ambulatory Service Centers
Ambulance Stretchers Regional Outlook (Revenue, USD Million; 2015 – 2026)
- North America
- Latin America
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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