The North America Medical Carts Market is projected to hold onto its leading position with a 36.7% share in 2021, despite an increase due largely from musculoskeletal injuries and technological advancement. Emergency carts are expected to hold a 25.5% market value share by the end of 2032
NEWARK, Del, June 13, 2022 (GLOBE NEWSWIRE) -- The global medical carts market is expected to grow at a 9.5% CAGR over the forecast period. Sales in the medical carts market are estimated to reach a valuation of US$ 943.5 Mn by 2022. According to the study, emergency carts held a substantial share of 28.9% of the global medical carts market in 2021.
Medical carts are a type of mobile medical equipment that facilitate medical procedures while providing medication and technology. Medical carts have revolutionised the way hospitals manage and treat patients in today's world.
These carts enable medical practitioners to carry medical supplies and equipment from one patient's room to another in a safe and convenient manner. As per Future Market Insights, the global medical carts market was valued at over US$ 859.6 Mn in 2021 and is expected to exhibit growth at a CAGR of 9.5% over the forecast period (2022-2032).
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In response to the increased demand for improved efficiency across hospitals, medical carts manufacturers are focusing on cutting-edge designs. Product innovation and rising establishments of hospitals and care centers will bode well for the market.
Advancements such as updating of existing product line, lighter designs, extended battery capacity, and high flexibility improved the ergonomics are expected to fuel sales of medical carts. Electronic health records and medical computer carts featured with inbuilt software will offer opportunities for players in the medical carts market.
With the increasing focus on telehealth solutions, telemedicine carts have gained traction and marked an impressive solution for the transportable patient care unit. These carts potentially improve patient care & safety and enhanced staff efficiency.
For instance, in August 2021, Ergotron revealed the cutting-edge update to its CareFit Pro Medical Cart, it was designed to grasp upcoming workflows and prioritize the healthcare provider well-being to drive the patient-centred services.
“Rising needs for speed and ease of accessibility of the medical supplies, growing focus on patient safety, nursing efficiency and evolution of advanced technologies are expected to fuel growth in the medical carts market over the forecast period,” says an FMI analyst.
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Emergency carts are expected to hold a 25.5% market value share by the end of 2032, with sales growing at a CAGR of 8.3% over the forecast period.
Based on material type, the steel segment is projected to account for the highest market share of 47.7% in 2022 and is projected to dominate throughout the forecast period.
Based on energy sources, the non-powered segment held around 63.3% of the market share in 2021 and is expected to hold a market value share of 60.4% by 2032.
In terms of end-user, the hospitals are the leading segment and are expected to register a CAGR of 4.8% in upcoming years.
North America is slated to be the leading region with a value share of 36.7% in 2021 owing to a rise in the number of musculoskeletal injuries and technological advancement.
Key Market Segments Covered in Medical Carts Industry Research
The Middle East and Africa (MEA)
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Key players in the medical carts market are focusing on tapping market potential through adopting mergers & acquisitions strategies. Strategic partnerships, mergers and acquisitions, product-line expansions and updated product launches are the key approaches implemented by the manufacturers to expand their product range and consumer base in developing as well as developed countries. For instance:
In February 2022, Capsa Healthcare acquired Humanscale Healthcare, which enabled the Capsa offerings to the broadest product suite in the market and expands its capacity to offer ergonomically personalized point-of-care computing solutions to healthcare associates worldwide.
In September 2021, Ergotron’s signed an agreement with PT Murni Solusindo Nusantara as the official distributor in Indonesia. This collaboration is aimed at accelerating business transformation.
Table of Content 1. Executive Summary
2.2. Market Definition / Scope / Limitations
3.1. Key Trends Impacting The Market
3.2. Innovation / Product Development Trends
4.1.1. Global GDP Growth Outlook
4.1.2. Increasing per capita Healthcare Spending
4.1.3. Global Healthcare Expenditure & Sector Outlook
4.2. Forecast Factors - Relevance & Impact
4.2.1. Rising ageing population
4.2.2. New Product Launches
4.2.3. Technology Advancements
4.2.4. Rising Prevalence of Chronic Illness
4.2.5. Integration into Cloud-based Technologies
4.2.6. Growing Interest in Telehealth Solutions
4.2.7. Medical Carts Equipped with Data Acquisition Features Help Healthcare Facilities Keep Patient’s Medical Records
4.2.8. Cost Impact
4.3.3. Opportunity Analysis
5.1. Current COVID19 Statistics and Probable Future Impact
5.2. Current GDP Projection and Probable Impact
5.3. COVID19 and Impact Analysis
5.3.1. By Product Type
5.3.2. By Material Type
5.3.3. By End User
5.3.4. By Energy Source
5.3.5. By Region
6.3. Product Adoption / Usage Analysis
6.4. Key Promotional Strategies, By Manufacturers
6.5. Recent Product Approvals and Launches
6.7. Porter’s Five Sources
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Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global medical carts market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on the medical carts market segment based on product type – (emergency carts, procedure carts, anaesthesia carts, computer medical carts, specialty carts, medication carts, and other medical carts), material type- (polymer, steel and aluminium), by energy source- (powered and non-powered), by end-user (hospitals, specialty clinics, ambulatory surgical centers, diagnostic centers, rehab centers, nursing homes and home care settings) across seven major regions.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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