SAN FRANCISCO, Nov. 19, 2019 /PRNewswire/ -- The global ambulance stretchers market size is expected to reach USD 823.89 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.
Key suggestions 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.
Read 130 page research report with ToC on "Ambulance Stretchers Market Size, Share & Trends Analysis Report, By Product (Emergency, Transport), By Technology (Manual, Electric Powered, Pneumatic), By Region, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/ambulance-stretchers-market
Rising medical tourism in countries such as India, Thailand, Malaysia, Singapore, and Mexico, are among major factors driving the market. Aspects that contribute to from a growing medical tourism are, better infrastructure and cheaper treatment costs. A heart bypass surgery costs around USD 113.00 in the U.S. However, the same procedure costs USD 10.00 in India, USD 13.00 in Thailand, USD 20.00 in Singapore, USD 9.00 in Malaysia, and USD 3.25 in Mexico. Similarly, other procedures such as heart valve replacement, angioplasty, hip replacement, and knee replacement, have similar price differences. Thus, patients in developed countries prefer to opt for treatment in developing countries like India, Singapore, and Thailand. Hence, rising medical tourism is anticipated to increase the demand for ambulance stretchers, thereby, driving the 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.
Grand View Research has segmented the ambulance stretchers market report based on product, technology, 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
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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