USD 2.62 billion
Medical Carts Market Size, Share, Growth Analysis, By Product(Mobile Computing Carts, Wall-mounted Workstations, Medication, Medical Storage Columns), By Type(Anesthesia, Emergency, and Procedure), By End-Use(Hospitals, Ambulatory Surgical Centers, Physician Offices or Clinics, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35B2086 |
Region:
Global |
Published Date: April, 2024
Pages:
219
|Tables:
93
|Figures:
76
Medical Carts Market Insights
Global Medical Carts Market size was valued at USD 2.62 billion in 2022 and is poised to grow from USD 3.06 billion in 2023 to USD 10.66 billion by 2031, growing at a CAGR of 16.87% during the forecast period (2024-2031).
The rising prevalence of Musculoskeletal Injury (MSI) and the increasing use of Electronic Medical Records (EMR) in hospitals are propelling market growth. Furthermore, due to population expansion and aging, the number of people with musculoskeletal issues is rapidly increasing. As a result of such reasons, the need for medical carts is expected to rise in the near future.
The usage of mobile carts is expanding due to constantly evolving technology that provides better layout, construction, alternatives, and features that fulfill the needs of consumers. For example, the AMiS-30EP pole cart was the most recent addition to Advantech's AMiS line of goods, which is a leading provider for healthcare computer systems and services, in December 2021. This product can be equipped with a number of monitors and devices, depending on the application. The market is expected to grow in the near future as a result of these technological developments.
Furthermore, in response to the worldwide vaccine rollout, medical cart design was updated to accommodate mobile COVID-19 immunization distribution to mass vaccination sites set up in unconventional areas, such as parking lots and stadiums, which is expected to drive market growth. For example, in February 2021, Ergotron and In Gramme Micro teamed up to offer medical carts to aid in the coronavirus outbreak.
Furthermore, Capsa Healthcare will deliver its latest Trio mobile computer desktop in August 2021. The Trio point-of-care platform from Capsa mobilizes electronic medical records and facilitates efficient and exact drug management. The market is expected to grow in the coming years as a consequence of these changes.
One of the important contributing factors to the growth of the medical carts market is the emergence of telemedicine/telehealth and advancements in medical carts. These carts improve nursing efficiency, leading to better patient care, which is projected to drive demand for medical carts in the coming years. Medical cart advancements, such as the availability of lightweight items with greater mobility and ergonomics, are projected to expand the popularity of these products. The availability of handle and wheel mounts, as well as the right and correct battery sizes, contributes to increased nursing staff safety.
The increased emphasis on effective care delivery and the adoption of healthcare IT solutions that aid in delivery are projected to drive market expansion in the coming years. It is critical to select a suitable workstation that assures patient safety. Mobile computer carts have numerous advantages, including flexibility and secure storage.
US Medical Carts Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Anesthesia
Fastest Growth
Anesthesia
Growth Rate
16.87% CAGR
Global Medical Carts Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
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Medical Carts Market Segmental Analysis
The global medical carts market is segmented based on product, type, end-use, and region. Based on product, the market is segmented into mobile computing carts, wall-mounted workstations, medication, medical storage columns, cabinets & accessories. In terms of type, the market is segmented into anesthesia, emergency, and procedure. Further classification of end-use segments include hospitals, ambulatory surgical centers, physician offices or clinics, others. Based on region the global medical carts market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Medical Carts Market Analysis by Product
The mobile computing carts segment dominated the market in 2022, accounting for more than 73.38% of global sales. These carts are most typically utilized by point-of-care institutions due to associated benefits such as being portable/mobile, requiring less space, and providing one-stop solutions for all clinical needs of the career. The section is expected to remain in first place during the projected period.
Mobile carts have been primarily utilized as equipment for point-of-care computer documentation. However, the rise of these carts' technical applications, including as telemedicine and patient education and engagement, is projected to increase their popularity. This system enables the transfer of video conferencing tools to the patient's bedside, allowing physicians to conduct examinations remotely in the event that a specialist is unavailable at the hospital.
On account of the associated benefits of medical carts such as maximizing floor space and reducing the spread of infectious diseases, the wall mounted workstations segment is predicted to grow at the fastest CAGR throughout the forecast period. Growing patient and healthcare professional awareness about the use of computers in healthcare and MSDs promotes the demand for adequate ergonomic solutions, such as computer mounting systems.
Medical Carts Market Analysis by Type
The emergency carts segment dominated the market, with a share of the market of more than 40.77%. This is due to the fact that it is more typically used in emergency rooms. Demand for these commodities is expected to rise in the coming years owing to the increased risk of infectious diseases in emergency care units. These solutions aid in preventing infections in hospitals since they are anticorrosive and long-lasting.
These carts are loaded with medical supplies and medications in the event of an illness or injury such as cardiac arrest. Advances in these things, such as mobile and lighter creates, are projected to increase their popularity over the forecast period. The availability of appropriate handle and wheel mounts, as well as reduced battery sizes, contribute to increased nursing staff safety by making them easier to handle and avoiding any occupational hazards to users. The advantages of emergency workstations are driving segment expansion.
The procedural carts sector is predicted to grow at the fastest CAGR during the forecast period owing to the widespread use in a variety of clinical settings. These devices are extremely useful in operating procedures such as cardiology and endoscopy, as well as providing access to critical medications. These carts come in a variety of styles, including portable, adjustable, and powered models.
Global Medical Carts Market By Type 2021 (%)
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Medical Carts Market Regional Insights
North America dominated the market with 40.27% share. Factors such as significant government investments in the creation of novel medical devices, the presence of important participants, and the existence of a favorable reimbursement system are factors contributing to the region's market growth.
Asia Pacific is predicted to have the highest CAGR during the projection period. The increased emphasis of companies on expanding their operations in this region, as well as an increasing demand for healthcare carts, are expected to drive market growth. Furthermore, increased healthcare expenditures and the simple availability of low-cost medical information technology products are likely to drive market growth. The market is predicted to grow significantly over the forecast period as manufacturers in the Asia Pacific region focus on developing low-cost, high-efficiency products. Furthermore, multinational corporations are investing in local firms since raw materials and labor are less expensive in Asia Pacific countries.
Global Medical Carts Market By Geography, 2021-2030
- Largest
- Fastest
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Medical Carts Market Dynamics
Medical Carts Market Drivers
Growing Healthcare Infrastructure
- Increasing healthcare infrastructure, particularly in developing countries, is driving the demand for medical carts, as they are essential in healthcare facilities for transporting equipment and supplies.
Medical Carts Market Restraints
High Cost of Medical Carts
- The high cost of medical carts, particularly those with advanced features, can be a barrier to adoption, particularly for smaller healthcare facilities or those with limited budgets.
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Medical Carts Market Competitive Landscape
In addition, market players utilize various strategies to strengthen their market position, such as acquisitions and mergers, partnerships, product launches, expanding their geographic presence of manufacturing facilities, improving and expanding Their distribution network, as well as advances like the launch of medical carts.
Top Player’s Company Profiles in Medical Carts Market
- Capsa Healthcare
- Omnicell Inc.
- Midmark Corporation
- Harloff Company
- ITD GmbH
- InterMetro Industries Corporation
- Armstrong Medical Industries Inc.
- Ergotron Inc.
- Jaco Inc.
- Enovate Medical
- AFC Industries Inc.
- Medline Industries Inc.
- Advantech Co. Ltd.
- Altus Inc.
- Hergo Ergonomic Support Systems Inc.
- The Harloff Company Inc.
- Modernsolid Industrial Co. Ltd.
- Scott-Clark Medical
- Waterloo Healthcare
- Compucaddy
Medical Carts Market Recent Developments
- In August 2022, Tryten Technology launched a new website and rebranded its goods to reflect a unified line of growing medical cart solutions. Additionally, carts for AV displays and portable workstations have been added to the Tryten X series.
- In July 2022, Holo Industries LLC introduced the game-changing HoloMed range of holographic inserts for medical carts, patient monitors, and other items that safeguard patients and hospital employees by essentially eliminating surface contact and touchpoints, decreasing HAI transmission.
Medical Carts Key Market Trends
- E-commerce boom: With the COVID-19 pandemic, online shopping and e-commerce have witnessed tremendous growth. Consumers have shifted their shopping habits to online platforms, and this trend is expected to continue in the future.
- Sustainability: Consumers are increasingly concerned about the environmental impact of products and services. Companies are focusing on sustainable practices, such as using renewable energy sources, reducing waste, and adopting circular business models.
- Digital transformation: With the rise of the Internet of Things (IoT), artificial intelligence (AI), and other digital technologies, companies are undergoing a digital transformation to stay competitive. This trend is expected to continue, with more businesses adopting digital solutions to improve their operations and customer experiences.
- Healthcare innovation: The healthcare industry is witnessing rapid innovation in areas such as telemedicine, wearable technology, and personalized medicine. This trend is driven by the need to improve patient outcomes, reduce costs, and enhance the patient experience.
Medical Carts Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Medical Carts market The rising prevalence of Musculoskeletal Injury (MSI) and the increasing use of Electronic Medical Records (EMR) in hospitals are propelling market growth. Furthermore, due to population expansion and aging, the number of people with musculoskeletal issues is rapidly increasing. As a result of such reasons, the need for medical carts is expected to rise in the near future.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 2.62 billion |
| Market size value in 2031 | USD 10.66 billion |
| Growth Rate | 16.87% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Carts Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Carts Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Carts Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Carts Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Carts Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Carts Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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