23 Sep 2021
Posted in Medical Devices
APAC stretchers and cots market to reach US$490m in 2025, forecasts GlobalData
The stretchers and cots market in the Asia-Pacific (APAC) region is expected to reach US$490m in 2025, driven by increasing investments in hospital infrastructure and rising healthcare expenditure, according to GlobalData, a leading data & analytics company.
GlobalData’s latest report, ‘Stretchers and Cots (Hospital Supplies) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that the APAC stretchers and cots market is dominated by Stryker Corp in 2021, followed by Hillrom Co Inc. Together, these two companies account for more than 90% of the market in 2021.
Shweta Yadav, Medical Devices Analyst at GlobalData, comments: “China and India are the leading markets for stretchers and cots accounting for more than 80% of the APAC market in 2021. Increasing investments by both public and private sectors in the healthcare infrastructure is expected to lead to a higher number of beds available. This, in turn, is expected to increase the number of installations of stretchers and cots.”
Ambulance cots and motorized stretchers account for more than 60% of the APAC stretchers and cots market in 2021. The stretchers and cots market has not been much affected by the COVID-19 pandemic as there is an increased demand for ambulance cots and emergency stretchers as most of the healthcare services were diverted towards emergency cases.
Ms. Yadav concludes: “The COVID-19 pandemic has increased the awareness surrounding emergency preparedness of healthcare facilities. This is expected to further drive investments in stretchers and cots by healthcare facilities.”