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Medical Carts Market Share

ID: MRFR//5967-HCR | 110 Pages | Author: Rahul Gotadki| May 2024

A lot of work goes into making sure that medical carts are customized to meet the needs of healthcare situations. A business might be able to get a bigger share of the healthcare market if they make designs and sets that are flexible and can be used in patient rooms, surgery areas, and emergency rooms.
Companies spend money on medical carts with the newest tools to stay ahead of the competition. Data networking, tracking with radio frequency identification, and smart locks are some of the things that make things better and safer. Healthcare groups that want to improve their technology to provide better care to patients and make processes more efficient are drawn to companies that sell themselves as experts in their areas and offer new ideas.
Medical cart makers know how important it is to keep places where people get care free of germs, so they focus on making designs that are easier to clean. Cart makers make their goods look clean by using antibacterial materials and adding features like smooth surfaces and sealed edges. This helps them get their goods into hospitals that have the tightest rules for patient safety.
One of the most important things you can do to move up the market is to making things better for your customers. The companies that make medical carts pay attention to useful design principles to make sure the carts are simple to use and materials are easy to get to. Healthcare workers use products with simple displays and work desks that can be adjusted in height more often, so those products get a bigger share of the market.
A good partnership with healthcare groups could be all it takes to get a bigger piece of the market. Sometimes, businesses can make solutions that are just right for healthcare centers if they listen to what they need and want. By keeping these ties, the company also builds its image as a service that doctors can trust. This makes people more likely to choose and trust that brand.

Medical Carts Market Highlights:

Medical Carts Market Trends

Medical Carts Market Analysis

Medical Carts Market Share

Medical Carts Companies

Global Medical Carts Market Overview

The medical carts market size was valued at USD 3.9 billion in 2022. The medical carts industry is projected to grow from USD 1.39 billion in 2023 to USD 11.53 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.8% during the forecast period (2023 - 2032). The growing prevalence of Musculoskeletal Injury (MSI) and the rising implementation of Electronic Medical Records (EMR) in hospitals are the key market drivers enhancing the market growth. Medical Carts Market

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Medical Carts Market Trends

Advanced medical carts application to boost the market growth

The recently manufactured medical carts are incorporated with numerous IT solutions to enable easy medical storage and access. Most devices come with touch panels with slim designs for easy usage. They are lightweight with smooth wheels enabling easy mobility with significantly little pressure by nurses to prevent muscular pains. These touch panels can improve the quality of care and eliminate disastrous human consequences, which can cause an error in treatment dosage and supply. Many manufacturers are trying to innovate new advancements in their medical carts has enhanced the growth of the medical carts market revenue.

Further, the increasing product launches are expected to contribute to the growth of the market over the forecast period. For example, in December 2021, the AMiS-30EP pole medical carts was the latest addition to Advantech's AMiS product line, a prominent medical computer system provider and services. Relying on the application, this product can be supplied with various monitors and devices. As a consequence of these technical breakthroughs, the market will likely expand shortly. Moreover, in August 2021, the latest Trio mobile computing workstation from Capsa Healthcare was released. Capsa's Trio point-of-care medium mobilizes electronic health records and assists in efficient and precise drug management. As a consequence of these developments, the market has enhanced the medical carts market CAGR across the globe in the recent years.

Additionally, the growing geriatric population and increasing burden of multiple chronic conditions, leading to rising hospital admissions, will likely drive the market growth. As per the report by the United Nations in 2022, the share of the population aged 65 years or above is projected to rise from 10% in 2022 to 16% in 2050. By 2050, the number of persons aged 65 years or over worldwide is projected to be more than twice the number of children under age 5 and about the same as that of children under age 12.

Medical Carts Market Segment Insights

Medical Carts Type Insights

The medical carts market segmentation, based on product type, includes mobile computing carts, wall-mounted workstations, medication, medical storage columns, cabinets, & accessories, and others. The mobile computing carts segment held the majority share in 2022 of the medical carts market revenue. These medical carts are most commonly used by point-of-care facilities due to associated benefits, including these medical carts being portable/mobile, needing less space, and providing one-stop solutions for every clinical need of the caregiver. However, wall-mounted workstations are the fastest-growing category owing to associated benefits, such as maximizing floor space and minimizing the spread of infectious diseases.

Medical Carts Type Insights

The medical carts market segmentation, based on type, includes anesthesia, emergency, procedure, and others. The emergency segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. This is owing to the fact that it is utilized more frequently in emergency rooms. As the risk of infectious diseases is higher in emergency care units, demand for these products is expected to increase in the coming years, positively impacting market growth. However, the procedure is the fastest-growing category over the forecast period due to its consistent utilization in many healthcare settings. These products are very supportive in operating procedures, including cardiology & endoscopy, and also provide access to essential therapeutics.

Figure 1: Medical Carts Market by Type, 2022 & 2030 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Medical Carts End User Insights

The medical carts market data has been bifurcated by end users into hospitals, ambulatory surgical centers, physician offices or clinics, and others. The hospitals segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030, due to the technological advancements in mobile medical workstations. However, physician offices or clinics are the fastest-growing category over the forecast period due to the enhancement in awareness and demand for the one-stop solutions that need less space and can be utilized for all medical requirements, as these medical carts include medicine, medical equipment, computer, & storage cabinets and are mobile.

Medical Carts Regional Insights

By Region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America medical carts market accounted for USD 1.79 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The substantial investments by governments for the expansion of creative medical devices, the presence of key participants, and the existence of a favorable reimbursement scenario are the factors supplementing the market growth within the region.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: MEDICAL CARTS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe medical carts market accounts for the second-largest market share due to the rising incidence of chronic kidney diseases (CKD), and there is increasing demand for home dialysis. The presence of streamlined processes, such as hospital admissions and claiming reimbursements, in healthcare facilities, along with the availability of integrated healthcare IT developments to maintain Electronic Health Records (EHRs), are some of the elements accountable for the largest revenue share held by this region. Further, the Germany medical carts market held the largest market share, and the UK medical carts market was the fastest-growing market in the European region.

The Asia-Pacific medical carts Market is expected to grow at the fastest CAGR from 2022 to 2030. This is due to the rising focus of the companies on expanding their presence in this region and the growing demand for medical carts, which are expected to drive market growth. Moreover, China medical carts market held the largest market share, and the India medical carts market was the fastest-growing market in the Asia-Pacific region.

Medical Carts Key Market Players & Competitive Insights

Major market players are spending a huge amount of money on R&D to enhance their product lines, which will help the medical carts market grow even more. Market participants are also taking several strategic initiatives to grow their worldwide footprint, with major market developments such as contractual agreements, mergers and acquisitions, new product launches, increased investments, and collaboration with other organizations. Medical carts industry competitors must offer cost-effective items to enhance and survive in an increasingly competitive and growing market environment.

One of the major business strategies manufacturers adopt in the medical carts industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In the medical carts markets, major players such as ITD GmbH, Advantech Co., Ltd, Harloff Manufacturing Co., and others are working on expanding the market demand by investing in R&D activities.

GAMA Healthcare Ltd manufactures and distributes personal care and bathing products. The Company offers body, hair, and nail care products. GAMA Healthcare serves clients in the United Kingdom. In November 2021, GAMA Healthcare launched the Rediroom internationally across the Americas. Rediroom is a mobile cart that expands into a HEPA air-filtered isolation room with a hands-free entry in five minutes and provides better isolation capacity and flexibility.

Also, Tryten Technologies Inc. was founded in 2004. The company's line of business includes the wholesale distribution of computers, peripheral computer equipment, and computer software. In August 2022, Tryten Technologies launched a website and rebranded products to reflect a unified line of evolving medical carts solutions. In Addition, medical carts for AV displays and mobile workstations are now part of the Tryten X series.

Key Companies in the Medical Carts market include

ITD GmbH

Advantech Co., Ltd

Harloff Manufacturing Co.

AFC Industries

Chang Gung Medical Technology Co.

Omnicell Inc

Midmark Corporation

The Bergmann Group

Capsa Healthcare

Jaco Inc

Waterloo Healthcare

Ergotron Inc, among others

Medical Carts Industry Developments

November 2021:Godrej Interior Healthcare launched its range of medical trolleys, AGILO medical carts, and emergency/crash carts. These emergency /medical carts are ideal for emergency rooms such as intensive care units, casualty/trauma centers, outpatient surgery centers, and operation theaters.

July 2022:Holo Industries LLC launched a transformative HoloMed line of holographic inserts for medical carts, patient monitors, and other products that protect patients and hospital staff by virtually eliminating surface contact and touchpoints, thereby reducing the transmission of HAIs.

Medical Carts Market Segmentation

Medical Carts Product Type Outlook

Mobile Computing Carts

Wall-Mounted Workstations

Medication

Medical Storage Columns, Cabinets, & Accessories

Others

Medical Carts Type Outlook

Anesthesia

Emergency

Procedure

Others

Medical Carts End User Outlook

Hospitals

Ambulatory Surgical Centers

Physician Offices or Clinics

Others

Medical Carts Regional Outlook

North America

Canada

Europe

Germany

France

Italy

Spain

Rest of Europe

Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific

Rest of the World
- Middle East
- Africa
- Latin America

Medical Carts Companies

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