According to the Market Statsville Group (MSG), the global medical carts market size is expected to grow from USD 2,461.8 million in 2021 to USD 9,582.3 million by 2030, at a CAGR of 16.3% from 2022 to 2030. Medical carts are mobile trolleys used in health centers for storage and transportation. These carts are composed of several compartments, trays, and drawers and are widely used to move emergency supplies, medicines, and equipment between medical institutions. They are made from safe and acceptable materials in healthcare environments, such as plastics, stainless steel, and aluminum. They also have handles and wheels to aid in the efficient movement of large medical instruments.
Significant growth in the healthcare sector is driving the global market. Increasing investments by public and private enterprises to enhance existing healthcare infrastructure are also producing a good picture for the industry globally. Furthermore, continuous technological improvements throughout the industry are driving market expansion. For instance, the extensive integration of touch display personal computers (PCs) with medical carts is gaining global traction. Furthermore, the growing number of patients has increased the demand for medical carts to safely deliver drugs and therapy to patients, leading to market growth.
Moreover, the increasing implementation of the point-of-care approach across healthcare facilities is driving the global market growth. Other factors that boost the market include continuous improvements in healthcare infrastructure and considerable research and development (R&D) operations by leading companies to provide new product versions.
As COVID-19 infection spreads globally, patient care needs have grown, and personal protection and medical equipment, especially medical carts, are in great demand. As the global patient population grows, there is an urgent need to reduce illness transmission. One of the main channels of infection-spreading equipment that must be addressed is handheld diagnostics. As a result, the use of medical carts to safely deliver drugs and other required needs to patients and healthcare personnel is projected to rise during the pandemic. Midwest Products & Engineering increased its manufacture of medical carts in March 2020 to enhance patient care amid the COVID-19 crisis.
Increasing healthcare expenditure on advanced equipment in order to provide better medical facilities is thought to be the main driver behind the global medical carts market's rapid growth. Moreover, the rising prevalence of chronic diseases and the growing number of hospitals in developing countries have increased demand for medical carts for managing medical equipment, drugs, and medical devices, driving the growth of the medical carts market during the forecast period. Furthermore, rising GDP and favorable government measures are expected to improve demand for medical carts. Furthermore, medical carts enhance nursing efficiency and give better healthcare amenities to patients, which are expected to be important drivers driving the medical cart's market growth.
The high cost of advanced medical carts is expected to hinder the growth of the medical carts market over the forecast period. However, a shortage of skilled professionals and the high cost of customized medical carts might impede industry expansion. The strict laws and restrictions are projected to put the global medical carts industry under strain.
Repowering current medical carts on wheels and other technological advancements in movable medical equipment will drive market expansion. Non-powered medical carts are being phased out in favor of modern and innovative battery-powered medical carts with auto-locking roomy drawers for efficient medication stocking and automated drug dispensing devices. Access to telehealth solutions provided by the development of telemedicine carts is also projected to provide market growth prospects. Telemedicine is an appealing path for both the healthcare business and many people who use digital solutions for therapy.
Telemedicine computer carts with cameras allow physicians to meet patients electronically. It has lowered many of the incidental expenditures associated with healthcare delivery, including several that are prohibitively expensive for the most vulnerable individuals. Healthcare costs may be reduced for both the patient and the provider by reducing transportation costs, taking time off work, and scheduling patient care. As a result, access to telemedicine is projected to affect market sales in the coming years.
The study categorizes the medical carts market based on product, end-use, and type at regional and global levels.
Based on the type, the global medical carts market is divided into anesthesia, emergency, procedure and others. The emergency carts segment led the market in 2021, as it is employed more frequently in hospital emergency rooms and increases the danger of infectious infections in emergency care units. Moreover, they are anticorrosive and long-lasting; these solutions aid in infection control in intensive care units.
Based on the regions, the global medical carts market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. During the forecast period, the Asia Pacific region is expected to have the highest CAGR due to the increasing focus of companies on expanding their presence in this area and the growing need for medical carts, which are projected to fuel market expansion. Furthermore, expanding R&D activities, rising healthcare spending, and the easy availability of low-cost healthcare IT solutions are expected to boost market expansion. As manufacturers in the Asia Pacific region focus on developing low-cost, high-efficiency products, augmenting the growth during the forecast period. Furthermore, global businesses invest in local enterprises since raw materials and labor are cheap in Asia Pacific countries.
The global medical carts market is highly competitive, key industry players are adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global medical carts market are:
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