Global Stretcher Chair Market: Snapshot
The demand in the global stretcher chair market is projected to expand at a CAGR of 4.0% during the forecast period of 2017 to 2024, gaining traction from a number of factors such as growing penetration of ecommerce, increasing disposable income among the urban population, rapidly incrementing percentage of geriatric among the world’s population, mushrooming number of specialty clinics, and recent technological advancements, which have made stretcher chairs lightweight, flexible, and a genuine aid for the transportation of the patients. On the other hand, high cost of these products continues to challenge the prosperity of the stretcher chair market in some of the underdeveloped countries.
General Stretcher Chairs Garnering Maximum Demand
Based on product type, the global stretcher chair market has been segmented into general stretcher chair and special stretcher chair. Though special stretcher chairs are customized with additional features, the consumers are currently opting for general stretcher chair, which is the segment that produced 62.6% of the demand in 2017, and is projected to be worth US$151.0 mn by 2024, representing a 60.8% of the total share of demand. The demand for this segment is projected to increment at a CAGR of 3.3% during the forecast period of 2017 to 2024, producing a revenue of US$4.6 mn annually over the said forecast period.
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On the basis of end-users, the global stretcher chair market has been bifurcated into hospitals, ambulatory surgical centers (ASCs), and clinics. Presently, hospitals serve the maximum demand and are expected to sustain a strong demand for stretcher chair throughout the forecast period. Based on source type, the global stretcher chair market has been categorized into powered stretcher chair and manual stretcher chair.
North America Emerging As Highly Lucrative Region
Geographically, the report takes stock of the potential of the stretcher chair market in the regions of North America, Europe, Asia Pacific except Japan (APEJ), the Middle East and Africa, and Latin America, and in the country of Japan. In 2017, Europe accounted for 31.4% of the overall demand in the global stretcher chair market, although the region is projected for a moderate CAGR of 3.8%, which would mean it will eventually lose its prominent position to North America, which on the other hand is estimated for an above-average CAGR of 4.2% during the forecast period of 2017 to 2024. The North America stretcher chair market was worth US$51.0 mn in 2017 and is anticipated to constitute a demand worth of US$62.8 mn by 2024. High adoptability rate of new technology, availability of robust healthcare infrastructure, high buying capability of the citizens of developed countries such as the U.S., the U.K., France, and Germany, and escalating number of geriatrics are some of the key factors driving the European and North American stretcher chair market.
Asia Pacific except Japan is another substantial regional market, serving 25.8% of the total demand in 2017, and is expected to gain 20 BPS in its market share by 2024 over 2017. Revenue from the Japan stretcher chair market is anticipated to increase at a CAGR of 3.8% over 2017-2022, to reach US$ 21.5 mn by 2024.
Product Innovation to Define the Market Leader
The competitive landscape of the global stretcher chair market has a number of participants and most of them depend on differentiating themselves from their competitors by offering innovative products that ideally meet the requirement of the consumers. Some of the key companies currently operating in the global stretcher chair market are: Allengers Medical Systems Limited, Blue Chip Medical Products, Inc., Stryker Corporation, AMTAI Medical Equipment, Inc., CDR Systems, C-RAD AB, GF Health Products, Inc., Elekta AB, Getinge AB, Hill-Rom Holdings, Inc., Invacare Corp, Medtronic Plc., Leoni AG, medifa-hesse GmbH & CoKG, Novak M d.o.o, Skytron llc., Span America Medical System, Inc., OPT SurgiSystems S.R.L., STERIS, and Transmotion Medical, Inc.
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Innovations in Latest Patient Equipment will Augment Transport Stretcher Chair Market
The increasing penetration of the ecommerce industry is likely to aid in expansion of the global stretcher chair market. The rapidly accelerating number of geriatric population, coupled with the increasing number of specialty clinics is also expected to boost the growth of the global stretcher chair market. The stretcher chair is a clinical gear which is intended to ship patients with inabilities. It plays out numerous capacities, for example, improve patient consideration, solace, indoor and open air portability in the medical care community advantageously. These are accessible in different kinds like electric, pneumatic models and situated into full broadened level positions or a boundless measure of chair positions. The structure is for the most part comprised of steel or aluminum outline and is covered with nylon cover. The stretcher chair differs relying on the application and utilize the shape, size, and highlights.
Late enhancements to the item have been the most conspicuous driver of the worldwide stretcher chair market. Presently, stretcher chair are accessible that are planned explicitly to convey patients in spots like halls, steps, and lifts, are not difficult to perfect and lightweight as they are currently made of aluminum composite structure, and offer adaptability and overlap capacity. Present day stretcher chairs currently additionally accompany seat straps for old patients and help significantly in transportation. As the mindfulness with respect to the accessibility of these high level items expands, the interest in the worldwide stretcher chair market is relied upon to heighten.
While the significant expense of these keeps on deterring the market for stretcher chair to meet its potential in the arising economies, the organizations are dealing with setting up restricted assembling units to decrease creation cost and meet the buyers at a sensible cost. This is an endlessly populated area, and the extra cash is expanding among the metropolitan populace. The shoppers would now be able to explore their item and perused the surveys just as rules of utilization prior to making the buy. Mushrooming number of forte facilities, expanded number of mishaps across the world, and raising level of geriatric populace who habitually experience the ill effects of disease that upsets their versatility are a portion of different elements enlarging the interest in the worldwide stretcher chair market.
