by The global Medical Carts Market is estimated to be valued at US$ 8.91 Mn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Medical carts refer to movable structures that carry medical supplies, equipment, and patient records. They are an integral part of various healthcare settings like hospitals, clinics, diagnostic centers, and nursing homes. Medical carts help in securely storing and efficiently transporting medical items between patient rooms, operating theatres, emergency rooms, and other areas. They are designed keeping functionality, mobility, and safety in mind. Common types of medical carts include emergency carts, procedure carts, anesthesia carts, and telemedicine carts.
Market Dynamics:
Telemedicine uses telecommunication and digital information technologies to provide clinical health care at a distance. It helps expand access to medical services for remote/rural populations. Telemedicine carts are designed specifically to facilitate virtual doctor consultations through technologies like cameras, screens, and secure connectivity. Meanwhile, medical carts allow convenient access to supplies and records during patient care, thereby improving workflow efficiency. They reduce the back-and-forth movement of nurses and doctors. Smart features like location tracking, temperature control, locking mechanisms also enhance inventory management and security of drugs and equipment.
Segment Analysis
Medical Carts Market Size is dominated by the emergency carts segment. Emergency carts or crash carts are highly used in hospital settings as they carry critical emergency equipment and drugs to be used during medical emergencies and resuscitations. These carts are equipped with defibrillators, breathing bags, oxygen tanks, IV solutions and other essential emergency devices. Their convenient portability and storage of emergency gear make them highly useful for quick medical response, which has driven their demand in hospitals.
PEST Analysis
Political: Regulations regarding patient safety and healthcare infrastructure upgradation in many countries are favoring investments in advanced medical equipment including medical carts. This is driving growth.
Economic: Rising healthcare spending globally is providing opportunities for players in the medical carts market. Additionally, low manufacturing costs in developing regions are attracting investments.
Social: Growing prevalence of chronic diseases and increasing geriatric population undergoing medical treatments are propelling the demand.
Technological: Integration of IT components in medical carts for inventory and asset management is gaining traction. Advanced telescopic carts with touchscreen interfaces are also gaining popularity.
Key Takeaways
The global medical carts market is expected to witness high growth, exhibiting CAGR of 9.9% over the forecast period, due to increasing investments in healthcare infrastructure development across major countries. The market size for 2023 is estimated to be US$ 8.91 Mn.
Regional analysis: North America dominates the medical carts market currently due to advanced healthcare facilities and rising healthcare spending in the region. Asia Pacific is expected to grow at the fastest pace during the forecast period owing to rising medical tourism, increasing healthcare infrastructural developments and growing demand from healthcare institutions in emerging economies like China and India.
Key players: Key players operating in the medical carts market are AFC Industries, Advantech Co., Ltd., Alphatron, Enovate Medical, Ergotron, Inc., Harloff Manufacturing Co., JACO, Inc., Medline Industries, Inc., and Scott-Clark Medical. These players are focusing on new product launches and strategic collaborations to strengthen their market position. For instance, Advantech launched a new generation of medical carts with larger touch displays and advanced accessories for telemedicine.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
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.
