The increase in elderly people, who are more likely to suffer chronic diseases, is a major factor in the growth of the global market for medical carts. Furthermore, the growing emphasis on patient safety, the improvement of nursing productivity, and the rise in EHR use to reduce prescription errors are some significant drivers of the growth of the global market for medical carts. The need for medical carts is further stimulated by the growing significance of easy access to essential medical supplies, the growing need to reduce soaring hospital costs, and the rise in healthcare awareness. These factors together will contribute to the market's growth. Time-sensitive injuries and illnesses, such as severe infections, hypoxia, intentional and unintentional accidents, and others, are a substantial contributor to the burden of disease in developing nations and are expected to fuel the market for medical carts.
The recession will have a significant effect on the market for medical carts. Medical cart demand may fall off during a recession because healthcare facilities might not have as much money to spend on new equipment. Furthermore, if hospitals and other healthcare facilities see a drop in the number of patients as a result of financial difficulties, they might not need as many medical carts to transport equipment and supplies. The sales of medical cart manufacturers may suffer as a result of this.
Increased Demand for Medical Services will Boost Market Expansion
A rise in the occurrence of acute diseases has been attributed to an increase in sedentary lifestyles, inactivity, and bad diets. The prevalence of numerous diseases has increased as the senior population has grown. Acute diseases are life-threatening if not treated in a timely manner due to their sudden and transient character. The vital nature of treating patients with acute diseases in time to save their lives can be catered to by emergency medical cart care services. The global market for medical carts would be driven by the rising prevalence of acute disorders among people. Also, the urgency for having emergency medical carts that are essential in saving patient lives has been heightened by the rising number of accidents and trauma cases around the world.
Stringent Government Regulations to Limit Market Growth
Under IEC 60601-1, medical carts must go through risk management testing; as a result, they must be thoroughly evaluated to adhere to all FDA regulations. Additionally, the U.S. FDA alerted healthcare providers across the country that their portable medical carts might be a fire hazard. When used in crash carts, carts for pharmaceutical delivery, and other carts for point-of-care services, barcode scanning, and patient monitoring, lithium and lead acid batteries have the potential to overheat, emit hazardous smoke, catch fire, or even explode. In order to release or sell new products, producers must adhere to all FDA rules and requirements. As a result, strict government rules and technological limitations on developing new carts are the main obstacles to the industry's expansion.
Based on type, the medical carts market is segmented into anesthesia, emergency, procedure and others. The emergency category dominated the market in 2022. This is as a result of the fact that emergency departments use it more frequently. The demand for these items is anticipated to rise in the next years due to the increased risk of infectious infections in emergency care facilities. Due to their anticorrosive properties and durability for use in medical crises, these products aid in the management of infection in intensive care units.
Based on usage, the medical carts market is segmented into mobile computing carts (by application (documentation, equipment, medication delivery, tele health workstation and others)) by energy source (powered, non powered), wall-mounted workstations, medication, medical storage columns, cabinets, & accessories and others. The mobile computing carts category dominated the market in 2022. Due to associated advantages including being portable and movable, requiring less space, and providing one-stop solutions for all clinical requirements of the carer, these carts are most frequently employed by point-of-care institutions. Throughout the forecast period, the category is expected to hold its position.
Based on end use, the medical carts market is segmented into hospitals, ambulatory surgical centers, physician offices or clinics and others. The hospitals category dominated the market in 2022. Medical mobile workstations' technology breakthroughs are what are driving their acceptance. Key developments include the introduction of flexible, secure, and effective medicine administration methods. The growing share of this market can be attributable to the increased attention being paid to patient engagement and the development of EHR incentive programmes in hospitals.
North America is projected to hold the largest share of the medical carts market over the forecast period. The presence of prominent players, sizeable government investments in the development of cutting-edge medical equipment, and a fair reimbursement environment are all contributing factors to the market's expansion in the area. It is projected that the strategies used by businesses to sell their products would boost market rivalry. On the other hand, the Asia Pacific medical carts market is anticipated to grow significantly. The increasing demand for medical carts and the firms' increased focus on developing their presence in this region are the two main factors predicted to propel market expansion. Moreover, expanding R&D efforts, rising healthcare costs, and the accessibility of affordable healthcare IT products are all predicted to fuel market expansion.
LIST OF KEY COMPANIES PROFILED:
- Ergotron, Inc.
- ITD GmbH
- Capsa Healthcare
- Enovate Medical
- Touch Point Medical
- JACO Inc.
- Advantech Co., Ltd
- Harloff Manufacturing Co.
- Medline Industries Inc.
- Armstrong Medical Inc.
- McKesson Medical-Surgical Inc.
- Omni cell Inc.
- Altus Health Systems
- Compu Caddy
- GCX Corporation
- Parity Medical
- Her go Ergonomic Support Systems, Inc.
- Performance Health (formerly Patterson Medical)
- Market Lab, Inc.
- In April 2020, Midwest Products & Engineering (MPE Inc.), a design and production partner to equipment and medical device OEMs, developed the emergency response cart to address ventilator workflow issues related to the urgent care of COVID-19 patients, which is expected to accelerate market growth in the near future.
|Market Size in 2022||USD 1.5 Billion|
|Market Forecast in 2030||USD 3.5 Billion|
|Compound Annual Growth Rate||12.80 %|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Type, By Product, By End Use, and By Geography|