Key Market Overview:
Medical Carts Market size was worth USD 2.3 Billion in 2021, accounting for a CAGR of 15.6% during the forecast period (2022-2030), and the market is projected to be worth USD 8.5 Billion by 2030.
Medical cart is a type of movable device used in healthcare facilities to move medical supplies and equipment in the healthcare facility. Medical carts are among the most versatile and valuable pieces of equipment for medical facilities. They fulfill many critical roles for efficient and fast healthcare in several ways. Medical carts are designed to improve efficiency in healthcare environments. Such type of device is equipped with multiple features, such as drawers, shelves, and locking mechanisms, to accommodate requirements and provide easy access to medical supplies. Medical carts are built to withstand recurrent usage in the healthcare industry and are typically made of robust materials such as stainless steel or plastic. Some medical carts are integrated with technology, such as computer systems, to improve patient care and enhance efficiency in the healthcare system.
The North American market dominates the global medical carts market. This is due to the high demand for high-quality medical equipment in this region. North America region dominates in the overall global medical carts market, due to the strong presence of key medical cart manufacturers.
Market Dynamics
Driver
Medical carts have become important in hospitals as they enable doctors, nurses, and other care providers to easily access the things they need to take care of patients. This improves the services and offers better care to the patients. Moreover, the growing number of people with chronic diseases such as heart problems and diabetes has led to a higher demand for medical carts, as patients need regular medical care and monitoring. Furthermore, the incorporation of technology such as computing, power management, data storage, and others in medical carts has made them more efficient, reliable, and accurate to monitor patients. Thus, the above-mentioned factors fuel the growth of the market.
Restraint
Medical carts are sophisticated and complex to maintain and repair, they require expertise to maintain, which makes them expensive to own. Additionally, the cost of buying medical carts is high, especially for models that have advanced technology and customization options. All these factors hamper the growth of the medical carts market.
Opportunities
The development of telemedicine carts as part of telehealth solutions is expected to bring ample opportunities to the global market. Telemedicine carts are incorporated with cameras and computers, which enables doctors to interact with patients remotely. This can save money for both patients and healthcare providers by reducing the requirement for transportation and other costs. As a result, the availability of telemedicine carts is likely to create a lot of new business opportunities in the market.
Medical Carts Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 8.5 Billion |
| CAGR (2022-2030) | 15.6% |
| By Type | Medication Carts, Crash Carts, Anesthesia Carts, IV Carts, Point of Care Carts, and Others |
| By Product Type | Mobile Computing Carts, Medical Storage Columns, Powered Carts, Non- Powered Carts, and Others |
| By Material | Stainless Steel, Plastic, Aluminum, Wood, and Others |
| By Application | Medical Equipment Storage, Medical Imaging, Laboratories, and Others |
| By End-use | Hospitals, Ambulatory Surgical Centers, Clinics, and Others |
| By Distribution Channel | Direct Sales and Indirect Sales |
| By Region | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Key Players | Ergotron Inc., Capsa Healthcare, Enovate Medical, JACO Inc., Advantech Co., Ltd, Touch Point Medical, Inc., Harloff Manufacturing Co., Omnicell Inc., Medline Industries Inc., and McKesson Medical-Surgical Inc. |
Market Segmentation:
By Type
On the basis of type, the market is segmented into medication carts, crash carts, anesthesia carts, IV carts, point-of-care carts, and others. The medication carts segment holds the largest share of the market. Medication carts are extensively used in hospitals and other healthcare facilities to transport and dispense medications to patients. They are built for fast and accurate delivery of medications or dosages to patients. Each drawer consists of electronic locking and unit dosing boxes. Also, some carts are incorporated with mounted monitors which enable proper classification of drugs or medical supplies. They are adjustable for the utilization of care facilitators so they can stand or sit while monitoring. With the rising emphasis on the safety of patients and medication security, the demand for medication carts continues to grow. The crash carts segment is projected to witness the fastest CAGR over the forecast period. These are also called emergency carts which are utilized in hospitals to transport medical equipment and supplies in case of emergency to immediately give support or to save the life of the patient.
By Product Type
On the basis of product type, the market is segmented into mobile computing carts, medical storage columns, powered carts, non-powered carts, and others. Mobile computing carts hold the largest share of the global medical carts market. Such types of carts are equipped with computers, a keyboard, and a mouse, and are built for usage in the mobile environment. They are generally used in “point-of-care” settings, which means they are employed to offer patient care and treatment at the place where the patient is located, rather than requiring the patient to move to a different location for care. This allows for more efficient and convenient delivery of care and helps to improve patient outcomes by reducing the time between assessment and treatment. Furthermore, the powered carts segment is to witness the fastest CAGR over the forecast period, as they are equipped with an electric battery or motor and are designed for easy mobility.
By Material
On the basis of material, the market is segmented into stainless steel, plastic, aluminum, wood, and others. The stainless steel segment contributes the largest shares to the market growth. Stainless steel-based medical carts are known for their resistance to wear & tear and strength, making them the most preferable material for manufacturing medical carts. Stainless steel is easy to clean and non-porous, which prevents the growth of pathogens and bacteria. The plastics segment is anticipated to grow at the fastest CAGR over the forecast period. Plastic carts when compared to metal carts are lighter in weight, which makes them easier to move. This can be especially important in healthcare facilities where carts need to be moved recurrently. Plastic is typically less expensive than metal, which makes plastic medical carts a more cost-effective option.
By Application
Based on the application the market is categorized into medical equipment storage, medical imaging, laboratories, and others. The medical equipment storage segment holds the largest share of the market. This is owing to the rising demand for efficient storage and transportation solutions for medical equipment such as oxygen tanks, defibrillators, and others, in hospitals, and other medical facilities. Medical imaging is anticipated to grow at the fastest CAGR over the forecast period. This is owing to its increasing demand for storing and transporting medical imaging equipment. Also, the growing requirement for secure and efficient storage solutions in hospitals and diagnostic centers is making this segment the fastest-growing center.
By End-use
The end-use segment is divided into hospitals, ambulatory surgical centers, clinics, and others. Hospitals hold the largest share of the global medical carts market. Owing to the rising demand for quick and efficient movement of medical equipment in hospitals this segment contributes the largest share to the market growth. Hospitals require carts for multiple applications such as medical imaging, laboratory equipment, and others. The ambulatory surgical centers (ASC) segment is anticipated to grow at the fastest rate among the end-use segments. This growth is credited to the rising demand for outpatient surgical processes.
By Distribution Channel
The distribution channel segment is segmented into direct sales and indirect sales. The direct sales segment holds the largest market share in 2021 in terms of revenue. This is due to selling medical carts directly to the end-user, generally through a direct-to-consumer website or sales representative. This channel is typically used by distributors and manufacturers who have a strong relationship with their customers and a better understanding of their needs. The indirect sales segment is anticipated as the fastest-growing segment in the forecast period. As it can offer extensive reach and more opportunities for upselling and cross-selling.
By Region
Based on region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest market share in 2021. The strong infrastructure of healthcare, high demand for high-quality medical equipment, and favorable governing environment have contributed to the growth of the medical cart market in North America. The United States is an enormous market for medical carts in North America, owing to the existence of a large number of diagnostic centers, hospitals, and other medical facilities, as well as a high adoption rate of medical technology. The Asia Pacific market is anticipated to grow at the fastest CAGR over the forecast period due to the increased investments by governments in healthcare facilities in developing nations such as China and India.
Medical Carts Market Competitive Landscape:
The market is highly competitive, with a large number of players operating at the global and regional levels. The players compete on various parameters such as price, quality, innovation, and customer service. They are constantly investing in research and development to improve their products and expand their market share. Mergers, acquisitions, and partnerships are also common strategies employed by companies to enhance their market position and expand their product portfolio. Key players in the market include-
- Ergotron Inc.
- Capsa Healthcare
- Enovate Medical
- JACO Inc.
- Advantech Co., Ltd
- Touch Point Medical, Inc.
- Harloff Manufacturing Co.
- Omnicell Inc.
- Medline Industries Inc.
- McKesson Medical-Surgical Inc.
Recent developments
- In October 2020, JACO Inc., launched Jaco Perfect View Tablet, a sophisticated stand for tablets with exceptional light cart weight and compact size.
- In August 2021, Speciality Carts, Inc. was acquired by Capsa Healthcare. This acquirement of Capsa Healthcare mainly focused on extending its reach in care medication management in long term.
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