Albany, NY -- (SBWIRE) -- 11/24/2017 -- A report, titled "Hospital Stretchers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019," from Transparency Market Research (TMR) provides a 360-degree view of the market. According to the report, the global hospital stretchers market is projected to expand at a CAGR of 3.90% during the forecast period from 2013 to 2019.
In 2012, the global hospital stretchers market was estimated at US$1.3 bn and by 2019, the market is projected to be worth US$1.7 bn. The global hospital stretchers market is driven by the rising prevalence of chronic conditions. Furthermore, the expanding geriatric and obese populations will also propel the global hospital stretchers market. The global hospital stretchers market will also benefit from the growing number of hospital stays.
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Moreover, the increasing number of day care surgeries will also drive the global hospital stretchers market. The global hospital stretchers market will also benefit from the increasing average lifespan of hospital stretchers, which ranges from 7 to 10 years, and the growing presence of refurbished equipment. On the other hand, the global hospital stretchers market will be hampered by the high cost of specialized stretchers.
On the basis of product type, the global hospital stretchers market is divided into radiographic stretchers, bariatric stretchers, adjustable stretchers, fixed-height stretchers, and others. The bariatric stretchers segment is projected to expand swiftly during the forecast period at a CAGR of 5.90%. This segment is driven by the rising obese population. As obese patients need to be carried to hospitals and healthcare centers with ease, the demand for bariatric stretchers has increased significantly due to their ability to carry very heavy weights.
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According to technology, the global hospital stretchers market is bifurcated into motorized and non-motorized hospital stretchers. Application-wise, the global hospital stretchers market is classified into radiology, pediatric surgery, day care surgery, emergencies, and intra-hospital transport.
By region, the global hospital stretchers market is divided into Asia Pacific, Europe, North America, and Rest of the World (RoW). North America dominates the global hospital stretchers market due to the presence of a lot of manufacturers in this region. Furthermore, this region benefits from the rise in the population affected with chronic diseases and this region's cutting-edge medical infrastructure.
Nevertheless, it is Asia Pacific that is the most favorable market in the global hospital stretchers market, due to the expanding medical tourism sector in this region. The medical tourism market is expanding rapidly in countries such as India and Singapore.
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The research study recommends that companies must focus on developing innovative and cost-effective hospital stretchers. Players in the global hospital stretchers market, particularly small-scale industries, will also benefit by expanding their product portfolio. Moreover, focusing on the emerging markets of Latin America and Asia Pacific will also benefit companies operating in the global hospital stretchers market. Some of the leading companies operating in the global hospital stretchers market are Stryker Corporation, Givas, Gendron, Fu Shun Hsing Technology, and Anetic Aid Limited.
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