Albany, NY -- (SBWIRE) -- 01/13/2017 -- Hospital stretchers are medical apparatus, used for the purpose of patient transportation, from one location of diagnosis or treatment to another or inside and outside of the medical infrastructure premise. In addition to traditional function of patient transportation, presently, hospital stretchers are used as surgical platform, hospital beds and diagnosis and inspection platform.

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Rising utilization of hospital stretchers for multipurpose activities and operations in the hospitals will serve the hospital stretchers market as a significant driver because of relative rise in the demand of technologically sound hospital stretchers. This was suggested by a research report published by a leading U.S. based market research firm, Transparency Market Research. According to its estimates, the global hospital stretchers market is expected to grow at a CAGR of 3.9% from 2013 to 2019. The majority share of the total hospital stretchers market was held by fixed-height stretchers in 2012, owing to lack of awareness about multiple uses of stretchers, however, by the end of forecast period, the demand of innovative adjustable stretchers is expected to grow exponentially, due to increased preference of customers (hospitals in this context) towards technologically innovative products.

Furthermore, the trend of hospital stretchers market is changing towards motorized (electronically operated) stretchers during the forecast period 2013 to 2019, from traditional non-motorized (manually operated) stretchers. Advancements in hospital infrastructure and increasing number of hospital admissions are the most important propellers behind this shifting in the trend. In addition, according to the report, increased geriatric population, rise in number of accidents, natural disasters and increased prevalence of chronic diseases, such as cardiovascular, neurological diseases, obesity and others are the other drivers that are anticipated to fuel the growth of this market. Additionally, continuous increase in number of ambulatory surgical centers (ASCs) due to growing demand of day care surgeries is also a major factor anticipated to fuel the market of hospital stretchers.However, the market may face significant challenges due to increase in average price of the stretchers and availability of refurbished equipment.

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The market for hospital stretchers is highly fragmented and dominated by huge number of local and small manufacturing companies that mainly exist in Europe and Asia-Pacific region. Stryker Corporation, Hill-Rom Holdings, Inc., GF Health Products, Inc., Fu Shun Hsing Technology Co. Ltd. and others are some of the major players operating in this market. Currently, the hospital stretchers market is highly generalized and competitive, where every player in this market wants to maximize its sales from its existing variants of stretchers.

Hence, some companies have concentrated their efforts in expanding the utilization of their existing models of stretchers, whereas few companies are emphasizing on development of innovative stretchers. For instance, Stryker Corporation and Hill-Rom Holdings, Inc. are the major players in the global market of hospital stretchers, engaged in the enhancement of utilities of existing stretcher models. On the other hand, TransMotion Medical, Inc., Givas S.r.l. and other companies are emphasizing on bringing the revolutionary changes in the hospital stretchers industry, by innovating new and technologically innovative stretchers in the market. Thus, enhanced multi-purpose use of stretchers in the medical infrastructure is expected to propel the market growth during the forecast period (2013 – 2019).