Medical Carts Market Size Worth $3.84 Billion By 2025 | CAGR: 10.7%
Published Date : 17 / 03 / 18 | Report Format: PDF
The global medical carts market is expected to grow at growth rate of 10.7% to reach USD 3.84 billion by 2025.
Medical carts are designed to optimize patient and point of care services. Rising emphasis on efficient patient care delivery coupled with growing adoption of healthcare IT solutions is driving the industry growth to great extent. An innovative and effective use of medical technology, supported by Information and Communications Technology (ICT), has the potential to increase access to this product among various healthcare facilities. Furthermore, increasing number of hospital facilities, coupled with favorable government initiatives to improve patient care augment the market growth during the forecast period. On the flip side, high risk of hazardous interactions between medical cart and drugs stored is expected to restrain the adoption of these products in emergency care units. For instance, in December 2016, the U.S. FDA release an article which stated the potential risk of using battery-powered carts (i.e. medication dispensing and crash carts) to healthcare units. The article suggested that these category of products carry lead or lithium acid batteries that possess hazardous properties. Thus, such carts may exhibit risk of overheating to stored equipment and smoke production.
- In 2016, mobile computing segment are the largest revenue generating segment, accounted for 72.65% during the same period.
- Wall mounted workstations are projected to gain popularity in future owing to associated benefits with its usage including floor space maximization and reduce the spread of infectious diseases
- Segments such as emergency, anesthesia, and procedure carts are estimated to grow between 14 to 15% during the study period, with the procedure carts witnessing the fastest growth.
- Hospital settings captured the highest share of the global industry and are likely to grow with a promising growth rate over the forecast period
- North America registered 40.23% (2017) share of the total market which is the highest compared to other regions.
- Innovation will help medical technology players in Asia Pacific countries is expected to create a new market in the lower income segments, primarily, in India and China market, thus leapfrog to the next level of growth.
- Companies such as Enovate, Advantech, Medline Industries, McKesson Medical-Surgical Inc., and Patterson are capturing significant revenue share of the global industry
- Strategic collaborations coupled with new product developments are considered to be an important strategy adopted by key players. For example, in May 2017, JACO, Inc. introduced Comfort Glide Lift Technology in its JACO One medical cart series thereby enhancing its product and improving the user interface
KEY BENEFITS OF THE REPORT:
- In-depth analysis of the key market dynamics
- Granular analysis of the current market scenario and expected factors to affect the market
- Detailed analysis of the geographic region, regional and county wise analysis
- Highlight on the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the market
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCTS
- Wall Mounted Workstations
- Mobile Computing Cart
- Medical Storage Columns
- Medication Carts
MARKET, BY TYPE
- Emergency Setting
MARKET, BY END USE
- Ambulatory Centers
MARKET, BY REGION
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Rest of the World
- Middle East and Africa
- Latin America
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