The global medical carts market size was estimated at USD 3.5 billion in 2021 and is expected to hit around USD 10.8 billion by 2030 with a registered CAGR of 13.34% during the forecast period 2022 to 2030.
Key Takeaways:
Growth Factors
One of the key factors driving the growth of global medical carts market is growing geriatric population as well as rising prevalence of chronic diseases. According to estimates from the United Nations' World Population Prospects: The 2019 Revision, the number of persons aged 65 and more is predicted to more than double by 2050, rising from 703 million in 2019 to 1.5 billion in 2050.In addition, expansion of healthcare sector is also boosting the growth of global medical carts market over the forecast period.
To obtain a competitive advantage, businesses are pursuing methods such as product innovation, mergers and acquisitions, alliances, and regional development. Furthermore, the market is expected to be propelled by rising demand from hospitals for modern healthcare information technology solutions to improve patient care and safety over the forecast period. Companies' product launch strategies are expected to promote competition. Increased collaboration initiatives to increase the array of clinical carts to give cost-effective healthcare are some factors driving market expansion for medical carts.
Report Scope of the Medical Carts Market
| Report Coverage | Details |
| Market Size in 2022 |
USD 3.97 Billion |
| Market Size by 2030 |
USD 10.8 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 13.34% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product, Type, Material Type, End Use, and Geography |
| Companies Mentioned | InterMetro Industries Corporation, Harloff Manufacturing Co, Armstrong Medical, Capsa Solutions LLC., ITD GmbH, Midmark Corporation, The Bergmann Group, Lakeside Manufacturing, Cardinal Scale, Merino International |
Segments Insight
Product Insights
The mobile computing carts segment dominated the medical carts market in 2021. The increased adoption of medical carts in hospitals is attributed to the segment's rise. A lithium iron phosphate battery powers technologically powerful mobile computing cart. In addition, demand for mobile medical carts is predicted to increase throughout the forecast period due to changing ergonomics and enhanced designs. To gain an advantage over their competitors, vendors are concentrating on the development of simple-to-implement technology.
The wall mounted workstations segment is fastest growing segment of the medical carts market in 2021. Increased attention on patient safety, improved nursing efficiency, expanding focus on quick access to key medical equipment and supplies, and rising usage of electronic medication administration record to reduce medication errors are driving category growth. In medical environments, wall-mounted workstations are essential for keeping medical supplies organized and increasing efficiency. These workstations are clinical instruments commonly used in hospitals to improve patient care, increase patient involvement, and reduce staff fatigue while handling the rigors without interruption or technical delay.
Type Insights
The emergency medical carts segment dominated the medical carts market in 2021. This is due to increased use in emergency departments. The demand for these carts is projected to rise in the future years, as patients in emergency rooms are more susceptible to infections. Additionally, technical developments in the market, such as reduced weight, better mobility, and improved ergonomics, have raised healthcare providers' choice for these medical carts and workstations, which is expected to fuel growth throughout the projected period. Midwest Products & Engineering introduced the MACH Series of personalized medical device carts in November 2020, which are excellent for emergency care units due to their ease of modification and configuration.
The procedure medical carts segment is the fastest growing segment of the medical carts market in 2021. The procedure segment is likely to grow in popularity in the approaching years as these carts are increasingly used in various medical settings. These items are extremely useful in procedures such as cardiology and endoscopy, and they enable access to critical medications. These advantages are expected to help the segment flourish in the future.
Application Insights
The hospital's segment dominated the medical carts market in 2021. Adoption is being fueled by the availability of technologically advanced and mobile medical workstations. Adjustable, secure, and effective medicine delivery systems are among these breakthroughs.
The physician offices and clinics segment is fastest growing segment of the medical carts market in 2020. In the future years, the use of these workstations in doctors' offices and independent clinics is likely to grow steadily. This is due to a rise in knowledge and desire for one-stop medical solutions that take up less room and can be utilized for a variety of medical needs. Because these carts can transport drugs, medical equipment, computers, and storage cabinets, their use in clinics is projected to increase significantly over the next few years.
Medical Carts Market Share, By Region, 2021 (%)
| Regions | Revenuie Share in 2021 (%) |
| North America | 41% |
| Asia Pacific | 18.70% |
| Europe | 27.50% |
| Latin America | 7% |
| MEA | 5.80% |
Regional Insights
North America dominated the medical carts market in 2021. The U.S. dominated the medical carts market in North America region. The growing number of hospitals is driving the growth of medical carts market in North America region. The number of operational hospitals in the U.S. climbed from 5,534 in 2016 to 6,090 in 2019, according to the American Hospital Association. As per the Canadian Institute for Health Information's 2020 report, Canada's hospitalization rate was around 7,883 per 100,000 persons. In addition, the launch of new products by market players are also driving the growth of North America medical carts market. For instance, Altus Inc., a major mobile sit-to-stand workstation maker, introduced the Clio Swap 2.0 powered workstation in September 2019. It's made to last longer thanks to improved battery life and better patient care thanks to improved physician documentation in electronic medical records.
Europe, on the other hand, is expected to develop at the fastest rate during the forecast period. The UK dominates the medical carts market in Europe region. Some of the factors contributing to the Europe region's dominance in the medical cart market include the existence of efficient healthcare processes from hospital admissions to compensations, as well as the availability of integrated healthcare information technology systems to keep electronic health records. To accommodate client demand, medical equipment companies in this region are concentrating on producing innovative medical carts on wheels. As a result, businesses are expanding their product lines to include more technologically advanced items.
Key Market Developments
Segments Covered in the Report
(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)
By Product
By Type
By Material Type
By End Use
By Geography
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