Albany, NY -- (SBWIRE) -- 10/25/2018 -- Stretcher Chairs Market – Snapshot
Stretcher chairs, used to carry patients from one place to another within and outside of a health care center conveniently, are witnessing a constant increase in demand. Continuous innovation has helped drive uptake of these equipment. Players in the market have been spending money and time on developing better products. Hence, the market has evolved consistently for a number of decades. The global stretcher chairs market was valued at US$ 215.30 Mn in 2017 and is anticipated to expand at a CAGR of 4.1% from 2018 to 2026.
The general stretcher chairs segment dominates the global market. Advancements in stretcher chairs has led to development of a wide range of products that have enabled clinicians to provide proper emergency assistance to patients. The concept of automation has extended to stretcher chairs as well, which is less labor intensive, rapid, and easy-to-use. Combination of various technologies has increased the yield and productivity.
This technological revolution in stretcher chairs is expected to drive the market from 2018 to 2026. Prevalence of numerous diseases such as cancer, diabetes, and neurological disorders has increased due to rise in geriatric population and changing lifestyles in developing economies. For instance, data released by the WHO suggested that the global geriatric population is expected to increase from 524 million in 2010 to 1.5 billion by 2050.
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The global stretcher chairs market has been segmented based on product type, technology, and region. In terms of product type, the global market has been bifurcated into general stretcher chairs and special stretcher chairs. General stretcher chairs are the most commonly used products in the market. The segment is expected to continue to dominate the market during the forecast period due to their multipurpose usage feature. This feature plays a vital role during medical surgeries, patient transfers via ambulance, and other medical conditions requiring adjustments.
Moreover, purchasing a general stretcher chair often proves to be an economically better investment in multispecialty hospitals that provide various specialty services. Special stretcher chairs help in meeting the particular demand of patients and also offer quick turnaround time during emergency. These factors in turn accelerate the growth of the market. Constant advancements in shape, size, design, and operation of stretcher chairs drive demand for special stretcher chairs.
Based on technology, the global stretcher chairs market has been segmented into powered stretcher chairs and manual stretcher chairs. Powered stretcher chairs is an emerging segment of the market. The segment is driven by key factors such as increase in demand for technologically advanced stretcher chairs in multispecialty and super-specialty hospitals, and rise in bariatric population whose transport via non-motorized stretchers might be a challenge.
However, high cost of powered stretcher chairs, complex engineering, and high maintenance are the major restraints of the segment. In terms of end-user, the global stretcher chairs market has been divided into hospitals & clinics, ambulatory surgical centers, and others. Growth of the hospitals & clinics segment can be attributed to the increase in adoption of stretcher chairs in hospitals & clinics to shift patients safely.
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Geographically, North America dominated the global stretcher chairs market in 2017 owing to a highly developed health care sector, increase in awareness among health care provides about safe patient handling and mobility, and continuous evolution of patient handling technology. The region presents significant opportunities in the stretcher chairs market. Europe is also an attractive market in term of revenue. Rise in government initiatives and laws and increase in population drive the stretcher chairs market in the region.
Moreover, surge in the prevalence of degenerative diseases such as dementia, Alzheimer's, Parkinson's, and their associated symptoms adversely affects the quality of life and functioning of the patients. Increase in awareness about safe patient handling and mobility and growth of the health care sector in developing countries augment the market in Europe. Technological advancements and increase in adoption of stretcher chairs are expected to propel the stretcher chairs market in Asia Pacific, Latin America, and MEA during the forecast period.
Key players in the global stretcher chairs market include GF Health Products, Inc., medifa GmbH & Co. KG, Winco Mfg., LLC, Stryker Corporation, Hill-Rom Holdings, Inc., Wy'East Medical Corporation, IBIOM Instruments Ltée, AMTAI Medical Equipment, Inc., Productos Metálicos del Bages, S.L. (Promeba), NovyMed International BV, and UFSK-International OSYS GmbH. The future 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. For instance, in June 2015, Winco Mfg., LLC acquired the assets of TransMotion Medical, Inc. This acquisition helped the company to expand presence in the specialty medical treatment stretcher chairs segment.
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