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The North America Medical Carts Market is estimated to be valued at US$ 1,244 Mn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Medical carts are movable medical storage units used in healthcare facilities to store and transport medical supplies, records, medications, equipment, and instruments. Key products in this market include anesthesia carts, emergency carts, procedure carts, and others. Medical carts provide accessibility and organization to heavy medical equipment and supplies across various clinical settings including operating rooms, emergency rooms, procedure rooms, and patient beds.
Market Dynamics:
Growing geriatric population prone to chronic diseases and rising number of hospitals and surgical centers are some of the key drivers of the North America medical carts market. As per the US Census Bureau, number of Americans aged 65 and above is projected to reach 95 million by 2060 from 56 million in 2018. Aging population suffers from various chronic conditions requiring continuous medical supervision and hospital visits. This is expected to increases demand for medical carts for storage and transportation of supplies within healthcare facilities. Furthermore, increasing healthcare expenditures and investments in infrastructure development are encouraging hospitals to invest in sophisticated medical carts to improve efficiency of clinical workflows. For instance, the annual National Healthcare Expenditure in United States is estimated to be over US$ 4 trillion by 2027.
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Segment Analysis
The North America medical carts market is dominated by the non-powered segment due to its high adoption rates. Non-powered medical carts are popular as they are affordable and allow flexibility of movement within medical facilities without the need for charging. Some of the commonly used non-powered medical carts are medical/surgical carts, procedures carts, emergency carts, anesthesia carts, and IV stands.
Pest Analysis
Political: The medical carts market is positively influenced by supportive governmental policies and initiatives towards advancement of healthcare infrastructure in the region.
Economic: Rising healthcare spending coupled with growing geriatric population suffering from chronic diseases is fueling demand for advanced medical equipment like medical carts.
Social: Increasing prevalence of lifestyle diseases and growing health awareness in society is driving more people to seek medical attention, thereby increasing footprint of healthcare facilities which in turn boosts procurement of medical carts.
Technological: Integration of advanced technological features in medical carts like digital work surfaces, telescopic extensions for accessories and EHR connectivity allows improved workflow efficiency.
Key Takeaways
The North America medical carts market is expected to witness high growth, exhibiting 13% CAGR over the forecast period, due to increasing demand for improved workflow efficiency in healthcare settings.
Regional analysis
North America dominates the global medical carts market led by the US healthcare sector. Growing geriatric population, access to advanced healthcare facilities along with supportive healthcare reforms are driving market growth.
Key players
Key players operating in the North America medical carts market are Herman Miller, Inc., Omnicell, Inc., The Harloff Company, Capsa Healthcare, Medline Industries, Inc., Armstrong Medical Industries, Inc., Waterloo Healthcare, Ergotron, Inc., TouchPoint Medical, and AFC industries Inc. Herman Miller, Inc. and Omnicell, Inc. have emerged as prominent players in the market owing to their diversified product portfolios.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
