Medical Carts Market Will Expand at 13.34% Growth by 2030

The global medical carts market size surpassed USD 3.97 billion in 2022 and is expected to hold USD 10.8 billion by 2030, poised to grow at a strong CAGR of 13.34 percent during the projection period from 2022 to 2030.

The growing senior population, as well as the increased frequency of chronic conditions, are two significant reasons driving the worldwide medical carts market forward. Telehealth rises and the availability of technologically improved medical carts are two reasons driving industry expansion. An important growth driver is the rise in demand for point-of-care diagnostic technology. Manufacturers of medical carts are working on producing new and creative products in order to meet growing demand from a variety of end-user groups. Mergers and partnerships are also being pursued by key competitors in the medical carts market in order to broaden their geographic reach and increase sales income.

Report Highlights:

• On the basis of type, the emergency medical carts segment holds the largest market share in the global medical carts market. Emergency medical carts are easy to clean and come with medical gadgets or drugs in the event of an emergency such as cardiopulmonary arrest. Over the forecast period, advancements such as increased mobility, less-weight designs, and greater ergonomics are likely to increase the usage of these medical carts.
• On the basis of product, the mobile computing carts segment holds the largest market share in the global medical carts market. Some of the factors contributing to the increased adoption of mobile computing carts include a growing emphasis on enhancing nurse efficiency, a rising need to reduce hospital expenses, and the growing need of quick and simple access to important medical supplies and equipment in hospitals.
• On the basis of application, hospital segment holds the largest market share in the global medical carts market. The growing emphasis on patient involvement and the development of electronic health record incentive schemes in hospitals to encourage patient participation are expected to drive demand for medical carts in this market.

Medical Carts Market Report Scope:

Regional Snapshot:

North America is the largest segment for the medical carts market in terms of region. The U.S. is dominating the medical carts market in the North American region. In North America, the expanding number of hospitals is boosting the need for medical carts. Furthermore, the launch of new products by market participants is propelling the North American medical carts market forward. Medical carts play a critical part in the effective use of mobile technologies in the healthcare business in the U.S.

Europe region is the fastest-growing region in the medical carts market. The UK holds the highest market share in the Europe medical carts market. Due to a growing senior population and an increase in the number of surgeries, Europe is predicted to be the second largest region for the global medical carts market. The factors are linked to an increased focus on patient safety and increased healthcare infrastructure spending.

Market Dynamics:

Drivers:

Technological developments

The key market players are adopting innovative and latest technologies for the development of medical carts in the global market. Jaco, for instance, released PerfectView AIO in February 2019, which is the first electronic health record cart designed for battery-powered all-in-one personal computers. It makes it easier for healthcare professionals to travel throughout the hospital and operate efficiently and effectively at the bedside of patients. Thus, this factor is driving the growth of the global medical carts market. 

Restraints:

High cost of medical carts

The price range of an emergency medical cart ranges from $2,000 to $5,000. This high-priced product cannot be afforded by every clinic and healthcare center. As a result, high cost of medical carts is restricting the growth of the global medical carts market. 

Opportunities:

Growing customization and modification options

Due to changing consumer tastes, which have a direct impact on the design of these carts, there is a growing trend of modification and customization in the medical cart businesses. The market players are increasingly attempting to address the different needs of end customers in the healthcare business as a result of this development. Thus, this factor is supporting the growth of the global medical carts market.

Challenges:

Lack of qualified professionals

The poorly qualified staff is a big factor affecting medical cart sales. Currently, many carts include equipment that requires certification or training to function. Due to a dearth of highly experienced staff, the number of money funded in medical carts may be limited, since they may not be handled properly, causing a negative influence on the growth of the global medical carts market. 

Recent Developments”

• Ergotron Inc. released its latest CareFit Pro medical cart in May 2020, a fully-highlighted medical cart that facilitates unstrapped output with lifelong efficiency, reliable power to encourage caregiver well-being with unhindered flexibility and personalized characteristics to aid deliver improved patient experiences and life-changing care.
• GAMA Healthcare, a prominent name in infection control devices, announced the release of a mobile cart that expands into a HEPA air-filtered isolation room in November 2021. This is the first portable isolation solution in the world, and it's intended to revolutionize medical cart design.

Major Key Players:

• InterMetro Industries Corporation
• Harloff Manufacturing Co
• Armstrong Medical
• Capsa Solutions LLC.
• ITD GmbH
• Midmark Corporation
• The Bergmann Group
• Lakeside Manufacturing
• Cardinal Scale
• Merino International

Market Segmentation:

By Product

• Mobile Computing Carts
  • By Application
    • Medical Documentation
    • Medical Equipment
    • Medication Delivery
    • Telehealth Workstation
    • Others
  • By Energy Source
    • Powered
    • Nonpowered
• Wall-Mounted Workstations
• Medication Carts
• Medical Storage Columns, Cabinets, & Accessories
• Others

By Type

• Anesthesia Carts
• Emergency Carts
• Procedure Carts
• Others

By Material Type

• Metal Type
• Plastic Type
• Others 

By End Use

• Hospitals
• Ambulatory Surgical Centers
• Physician Offices or Clinics
• Others

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