Medical carts are equipment used by nurses for ferrying medical equipment to patient rooms. They are used in storing medicines, syringes, and other medical accessories required for the treatment of small cuts, abrasions, etc. Market Research Future (MRFR) has focused on drivers, trends, opportunities, and challenges faced by market players and its latent potential by segmenting the global Medical Carts Market report by product type, type, material type, end-user, and region.
Market Outlook
The global Medical Carts Market is poised to touch a high valuation by exhibiting 12.1% CAGR from 2018 to 2023 (forecast period). It has stood at USD 1,100 million in 2017. Rising number of medical emergencies remain one of the primary drivers of the market. The uptick noticed in musculoskeletal injuries as well as technological advances of medical devices can induce the market volume. The large patient inflow in hospitals and medical centers can also contribute to the market growth. But high cost of medical carts in developing economies may impede the market growth.
The need for medical carts in medical universities and colleges for internships can bode well for the market. Availability of such equipment via ecommerce stores and retail stores is likely to push the market revenue to a higher degree. The implementation of the Health Information Technology (HITECH) Act which require mobile carts to keep up with technological demands is likely to usher in massive demand.
The integration of automated processes in the healthcare industry has paved the way for mobile carts. Rising use of mobile carts which assist nurses in patient care and alleviate the burden in a deadline-driven environment can drive the market. Changes in design and ergonomics are other factors which can disrupt the market in the forthcoming years.
Segmentation Analysis
The global medical carts market is segmented by product type, type, material type, and end-user.
- By product type, it is segmented into medication carts, mobile computing carts, wall-mounted workstations, medical storage columns, and others.
- By type, it is segmented into anesthesia cart, emergency cart, procedure cart, computer medical cart, and others.
- By material type, it is segmented into plastic type, metal type, and others. The metal type segment is purported to gain significant revenue for the medical carts market till 2023. Aluminum carts are lighter than most metals with mounting panels for storage of accessories. Steel carts, on the other hand, are economically priced and a trustworthy equipment that has been relied by hospital staff.
- By end-user, it is segmented into ambulatory surgical centers, hospitals, and others.
Competitive Analysis
Major industry participants in the global medical carts market include
Omnicell Inc, Capsa Healthcare, Harloff Manufacturing Co., ITD GmbH, Advantech Co., Ltd, Ergotron Inc, AFC Industries, The Bergmann Group, Jaco Inc, Midmark Corporation, Chang Gung Medical Technology Co., and Waterloo Healthcare.
Regional Analysis
Asia Pacific (APAC), the Americas, Europe, and the Middle East & Africa (MEA) are regions taken into consideration in the compilation of the global medical carts market report.
The Americas is projected to be the dominant region till 2023 due to the presence of major medical equipment manufacturers and a well-established healthcare policy. Adoption of medical devices by hospital chains and point-of-care centers in the U.S. and Canada can augur favorably for the global medical carts market.
Europe is expected to assume the second position in the market due to the surge in surgeries and the large vulnerable geriatric population. The APAC region, on the other hand, can exhibit an agile growth rate due to large healthcare expenditure by governments and increasing focus on patient safety. Lastly, the MEA region has the lowest market share due to low focus on healthcare programs and varying economic growth rates of the countries.
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