Market Size of Stretcher Chairs Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 4.30 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Stretcher Chairs Market Analysis
The stretcher chairs market studied was projected to grow with a CAGR of nearly 4.3% over the forecast period.
COVID-19 had a significant impact on the growth of the market during the pandemic period. There was increasing demand for stretcher chairs or wheelchairs during the pandemic due to the supply chain shortage, which paved the way for developing innovative products. According to the article published in NCBI in September 2020, the dual-purpose wheelchair was designed, simulated, and animated with computer-aided design software. The ease of handling, engaging, and disengaging the wheelchair from chair mode to bed mode, coupled with comfortability and stability, has made it an excellent alternative to a hospital bed in an isolation center for COVID-19 patients. Thus, COVID-19 led to the development of innovative products, thereby contributing to the market's growth during the pandemic period.
The primary factor contributing to the market growth is the increase in the incidence of trauma and the increasing number of accidents. An article published by the Global Burden of Disease in August 2021 reported that globally, there were 178 million new fractures, 455 million prevalent cases of acute or long-term symptoms of a fracture, and 258 million years lived with disability (YLDs).
Similarly, an article published by the Ohio State University in 2021 reported that 6 million people in the United States broke a bone each year. Also, hip fractures become the most common broken bone in those over age 75. Fractures account for 16% of all musculoskeletal injuries in the United States annually. More than 40% of fractures occur at home. Therefore, the increasing incidence of bone fractures in the aging population, mainly hip fractures, requires assistance for routine activities. This is expected to boost the requirement for stretcher chairs for patients at home and in hospitals. As the number of patients increases, the demand for stretcher chairs will likely propel over the forecast period. However, the high cost of powered stretcher chairs is expected to restrain the market's growth over the forecast period.
Stretcher Chairs Industry Segmentation
As per the scope of the report, stretcher chairs are used to conveniently carry patients from one place to another within and outside of a healthcare center. The Stretcher Chairs market is segmented by Product (Powered Chairs, Manual Chairs), by End-User (Hospitals, Ambulatory Surgical Centers, and Others), and by Geography (North America, Europe, Asia-Pacific, Middle East, Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Product | |
Powered Chairs | |
Manual Chairs |
By End-User | |
Hospitals | |
Ambulatory Surgical Centers | |
Others |
Geography | ||||||||
| ||||||||
| ||||||||
| ||||||||
| ||||||||
|
Stretcher Chairs Market Size Summary
The stretcher chairs market is poised for steady growth, driven by an increasing incidence of trauma and accidents, which necessitate the use of these chairs in both hospital and home settings. The COVID-19 pandemic significantly influenced the market, as the demand for innovative dual-purpose wheelchairs surged due to supply chain shortages. This led to the development of products that offered ease of use and comfort, serving as alternatives to hospital beds for COVID-19 patients. The aging population, particularly those experiencing hip fractures, further propels the market, as these individuals require assistance for daily activities. Despite the high cost of powered stretcher chairs posing a challenge, manual stretcher chairs remain the most utilized due to their multipurpose functionality and cost-effectiveness, especially in regions with limited healthcare budgets.
North America is expected to lead the market, supported by a robust healthcare infrastructure and a high prevalence of accidents and trauma. The United States, in particular, is witnessing increased adoption of stretcher chairs due to supportive healthcare policies and a growing patient pool. The region's market growth is further bolstered by government initiatives and research partnerships. The market is moderately competitive, with major players like GF Health Products, Inc., Winco Mfg LLC, and Stryker Corporation driving technological advancements. Recent developments, such as LINET's launch of the "Sprint 200" stretcher, highlight the industry's focus on reducing caregiver musculoskeletal disorders. The acquisition of Winco Manufacturing by Champion Manufacturing Inc. underscores the trend of consolidation and expansion within the market.
Stretcher Chairs Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Increase in Number of Accidents and Trauma
-
1.2.2 Rise in Geriatric Population
-
-
1.3 Market Restraints
-
1.3.1 High Cost of Powered Chairs
-
-
1.4 Porter's Five Force Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Value in - USD Millions)
-
2.1 By Product
-
2.1.1 Powered Chairs
-
2.1.2 Manual Chairs
-
-
2.2 By End-User
-
2.2.1 Hospitals
-
2.2.2 Ambulatory Surgical Centers
-
2.2.3 Others
-
-
2.3 Geography
-
2.3.1 North America
-
2.3.1.1 United States
-
2.3.1.2 Canada
-
2.3.1.3 Mexico
-
-
2.3.2 Europe
-
2.3.2.1 Germany
-
2.3.2.2 United Kingdom
-
2.3.2.3 France
-
2.3.2.4 Italy
-
2.3.2.5 Spain
-
2.3.2.6 Rest of Europe
-
-
2.3.3 Asia-Pacific
-
2.3.3.1 China
-
2.3.3.2 Japan
-
2.3.3.3 India
-
2.3.3.4 Australia
-
2.3.3.5 South Korea
-
2.3.3.6 Rest of Asia-Pacific
-
-
2.3.4 Middle East and Africa
-
2.3.4.1 GCC
-
2.3.4.2 South Africa
-
2.3.4.3 Rest of Middle East and Africa
-
-
2.3.5 South America
-
2.3.5.1 Brazil
-
2.3.5.2 Argentina
-
2.3.5.3 Rest of South America
-
-
-
Stretcher Chairs Market Size FAQs
What is the current Stretcher Chairs Market size?
The Stretcher Chairs Market is projected to register a CAGR of 4.30% during the forecast period (2024-2029)
Who are the key players in Stretcher Chairs Market?
GF Health Products, Inc, Winco Mfg LLC, Stryker Corporation, Wy'East Medical Corporation and IBIOM Instruments Ltée are the major companies operating in the Stretcher Chairs Market.