New York, NY -- (SBWIRE) -- 08/08/2018 -- According to the latest market report published by Persistence Market Research, titled 'Global Ambulance Stretchers Market: Global Industry Analysis 2013 – 2017 and Forecast 2018 – 2026', the Global Ambulance Stretchers market is expected to expand at a CAGR of 2.2% over the forecast period 2018–2026.
PMR estimates that the global market for ambulance stretchers is expected to be valued at US$ 223.1 Mn in 2018 and is expected to expand at CAGR of 2.1% over 2018–2026, to reach US$ 264.8 Mn by 2026 end. Based on product type, emergency stretchers segment dominated the global ambulance stretchers market, with over 59.0% value share in 2017. The segment is expected to grow at 2.0% CAGR over the forecast period. North America is expected to maintain its dominance in the global market due to large number of private ambulance services that offer ambulance rides at low rates.
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Increasing ageing population is the major factor driving the growth of the global market. Over the past few years, the market for ambulance stretchers has seen tremendous growth in the APAC region due to launch of new ambulance/emergency services and their growing fleet size. Rise in use of air ambulances in the developed regions such as the U.S. and U.K. is another factor driving the growth of the market. However, high cost of ambulance rides and lack of skilled professionals are the factors limiting the growth of the global market.
The global ambulance stretchers market has been segmented on the basis of product type, technology, end users and regions. Globally, emergency stretchers segment is expected to be the most attractive product type segment. Among the three technologies, the manual stretchers segment is estimated to contribute 36.0% share in the global market. Among all end users of ambulance stretchers, EMS Providers is expected to be the most lucrative end-use segment, as the number of private EMS providers is growing globally.
In terms of value, the global ambulance stretchers market is expected to expand at 2.2% CAGR over the forecast period. With nearly 32.9% market share, North America dominated global Ambulance Stretchers market in 2017, partly due to growing number of private and air ambulances in the region. Europe is expected to be the second large market globally, with U.K., Turkey, Russia and Germany being countries with high growth rates. APEC is expected to the third large market for ambulance stretchers, primarily due to improving healthcare and medical tourism in the region.
Key Research Findings
Ageing population has led to increased age-related medical conditions, which increases the demand for ambulance services.
A number of private ambulance service providers offer air ambulance services in Latin America. The trend of adoption of air ambulances in the region is expected to continue over the forecast period.
Ambulance service in Japan is free unlike many other countries, which increases the demand for ambulance services in the region.
Old-age homes and specialty clinics are becoming popular and are offering services including ambulance services.
Development of low-cost advanced products is expected to drive the growth of the market for electric and pneumatic stretchers in China.
Stretchers offered at low cost by the private players in North America is driving the growth of the ambulance stretchers market in the region.
Examples of some of the key players identified in the global ambulance stretchers market include Stryker Corporation, Ferno-Washington Inc., Omega Surgical, Zhangjiagang New Fellow Med Co.,Ltd., Dragon Industry(ZJG) Co., Ltd, Narang Medical Limited, Jiangsu Rixin Medical Equipment Co., Ltd. and Jiangsu Saikang Medical Equipment Co. Ltd., among others. The market for ambulance stretchers is fragmented with about 20% of the global market value is contributed by the top two players.
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