The global ambulance stretchers market ambulance stretchers market size is estimated to reach USD 2.82 billion by 2030, registering a CAGR of 3.5% from 2024 to 2030, 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.
Rising medical tourism in countries, such as India, Thailand, Malaysia, Singapore, and Mexico, are among major factors driving the market growth. Aspects that contribute to form a growing medical tourism are, better infrastructure and cheaper treatment costs. A heart bypass surgery costs around USD 113,000 in U.S. However, the same procedure costs USD 10,000 in India, USD 13,000 in Thailand, USD 20,000 in Singapore, USD 9,000 in Malaysia, and USD 3,250 in Mexico. Other procedures such as heart valve replacement, angioplasty, hip replacement, and knee replacement, have significant price differences. Thus, patients from developed countries prefer availing treatments in developing countries like India, Singapore, and Thailand. Hence, rising medical tourism is anticipated to boost the demand for ambulance stretchers, thereby, driving the market 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.
Ambulance Stretchers Market Report Highlights
By product, Transport stretchers dominated the market with a revenue share of 55.0% in 2023.
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 2023 due to presence of favorable reimbursement policies, rising prevalence of cardiovascular diseases, and presence of key players in the region.
Key Players in the Ambulance Stretchers Market
Stryker
Baxter
Medline Industries, LP.
Narang Medical Limited
FU SHUN HSING TECHNOLOGY CO., LTD
Ferno-Washington, Inc.
Zhangjiagang New Fellow Med Co.,Ltd.
ROYAX
MAC Medical, Inc.
Advanced Instrumentations
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