The global Medical Carts market size is expected to be worth around US$ 14.55 billion by 2030, according to a new report by Vision Research Reports.
The global Medical Carts market size was valued at US$ 2.28 billion in 2020 and is anticipated to grow at a CAGR of 25.2% during forecast period 2021 to 2030.
An increase in the adoption of electronic medical records (EMR) in hospitals is expected to drive the medical carts market. The growth of the market can also be attributed to the increasing demand for efficient care delivery and patient engagement solutions in healthcare facilities.
Rising incidence of work-related musculoskeletal injury (MSI) among medical and nursing staff is anticipated to propel the demand for mobile medical carts over the forecast period. Furthermore, advancements in clinical workstations such as battery-powered systems with locking drawers and touchscreen communication channels are contributing to the increase in demand for these products over the forecast period.
Mobile computing carts held the dominant revenue share in 2016 owing to high adoption by hospitals. Technologically advanced mobile computing carts have a battery-operated system consisting of a battery. In addition, changing ergonomics and advanced designs for mobile medical carts are expected to boost demand over the forecast period. Vendors are focusing on development of easy-to-implement technologies to gain an edge over their competition.
Increasing emphasis on improving nursing efficiency, growing need to curtail hospital costs, and rising importance of quick and easy accessibility to critical medical supplies and equipment in hospitals are some of the factors contributing to the high adoption of mobile computing carts.
Furthermore, supportive government initiatives for the adoption of EMR and telehealth services in hospitals are contributing to the dominance of the segment in the market for medical carts. Increase in adoption of EMR such as Electronic Medication Administration Record (eMAR) and Bar Code Medication Administration (BCMA) to prevent medication errors is anticipated to propel medical carts market growth.
Medical carts are of various types: anesthesia, emergency, procedure and treatment, and others. Emergency medical carts accounted for the largest revenue share in 2016. This can be attributed to higher usage in emergency care units. As patients in emergency care units are more susceptible to infections, demand for these carts is expected to increase in the coming years.
Emergency medical carts are easy to clean and are equipped with medical devices or drugs used in case of emergencies such as cardiac arrest. Advancements such as improved mobility, lighter weight designs, and enhanced ergonomics are expected to boost the adoption of these medical carts over the forecast period.
The procedure segment is expected to gain popularity in the coming years due to consistent usage of these carts in several hospital settings. These products are very helpful in operating procedures, such as cardiology and endoscopy, and provide access to essential therapeutics. These benefits are anticipated to propel the growth of the segment in future.
Hospitals are the largest end users of medical carts. Availability of technologically advanced and mobile medical workstations is driving their adoption. These advancements include adjustable, secure, and efficient systems for medication delivery.
Increasing focus on patient engagement and promotion of incentive programs in hospitals to encourage patient involvement are among factors anticipated to propel the demand for medical carts in this segment.
Adoption of these workstations in physicians’ offices or standalone clinics is expected to witness a steady rise in the coming years. This can be attributed to increase in awareness and demand for one-stop solutions that take up less space and can be used for various medical needs. As these carts help in carrying medicines, medical equipment, computers, and storage cabinets, their adoption in clinics is expected to register significant growth over the forecast period.
North America accounted for the largest revenue share in 2016 and is anticipated to register an exponential CAGR in the coming years. Presence of streamlined healthcare operations – from hospital admissions to reimbursements – and availability of integrated healthcare IT systems to maintain EHR are some of the factors contributing to the region’s dominance in the market for medical carts.
Medical device manufacturers in this region are focusing on developing advanced medical carts on wheels to meet customer demand. For this, companies are changing their product portfolio to include new technologically advanced products such as clinical workstations with batteries, security drawers, and automated dispensing systems.
Asia Pacific is expected to witness lucrative growth as manufacturers in this region are focusing on developing low-cost devices with higher efficiency. In addition, global players are investing in local companies owing to low costs of labor and raw materials.
AFC Industries; Ergotron, Inc.;Enovate Medical; JACO, Inc.; Advantech Co., Ltd.; Harloff Manufacturing Co.;Medline Industries, Inc.; Hergo Ergonomic Support Systems, Inc.; and Performance Health.
By Energy Source
Storage Columns, Cabinets, & Accessories
Ambulatory Surgical Centers
Physician Offices or Clinics
Middle East and Africa
The Medical Carts market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Carts market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Carts market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Carts market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Carts market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Carts capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Carts by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Carts market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Carts market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Carts market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Carts industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Medical Carts market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Carts market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Carts market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Carts market. These factors have benefited the growth of the global market for Medical Carts. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Carts. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Medical Carts are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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