Selbyville, Delaware , Jan. 07, 2020 (GLOBE NEWSWIRE) --
According to latest report “Telemedicine Cart Market by Product (Single Display Cart, Dual Display Cart), Operation (Powered {LiFe Powered Carts, SLA Powered Carts}, Non-powered), Lift Technology (Manual, Electronic), End-use (Hospitals, Clinics, Specialty Centers, Home Care Settings), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation for telemedicine cart will reach $1.5 billion by 2026. Growing technological advancements in telemedicine carts will have a major positive impact on the market growth over the analysis timeframe.
As market players continue to innovate, telemedicine carts grow increasingly sophisticated. Modern telemedicine carts often include additional features such as sensors for pulse rate, oxygen saturation and advanced imaging solutions. This will lead to product adoption among the consumers. Furthermore, technological advancements are positively augmenting the ease of use and accuracy of diagnoses, this will lead to an increased adoption among medical professionals. Hence, technological advancements will significantly drive the telemedicine cart market demand.
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Telemedicine carts are also used to provide remote consultation services to patients. Remote consultations save time and money for the patient as there is no need to commute, which reduces overall healthcare expenses. For instance, in U.S., the per capita healthcare expenditure is more than USD 10,000. With implementation of telemedicine services and adoption of telemedicine carts, the overall healthcare expenditure will decrease. Hence, decreased healthcare expenses owing to implementation of telemedicine carts will foster the market growth.
Dual display cart segment held revenue of USD 164 million in 2019 and will witness significant growth in the telemedicine cart market over the forecast period. Dual display carts use two monitors for display and can be used in video conferencing with multiple caregivers or display vital information while teleconferencing. Moreover, increasing technological advancements in telemedicine carts will further fuel segmental growth.
The powered segment is further classified as LiFe (Lithium iron phosphate) and SLA (sealed lead acid) battery powered. The powered segment will witness a CAGR of 21.9% over the forecast period owing to its advantages such as not being dependent on a power source and can be used in remote areas where the power connection might be unstable. Furthermore, during emergencies, when there is no power available, battery powered telemedicine carts will be the preferred product. These factors will contribute to telemedicine cart market growth.
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The electronic powered lift segment had a market share of approximately 60% in 2019. The electronic powered lift systems do not need manual adjustments, and usually have a memory setting to select the height setting by default. Advantages provided by the nature of electronic lift technology such as convenience and ease of handling will be a factor positively impacting segmental growth.
The home care segment was valued at USD 51 million in 2019 and will witness lucrative growth over the forecast period. Increasing inclination of patients towards home healthcare and reduced expenses associated with remote consulting will be factors positively impacting segment growth.
The U.S. telemedicine cart market is forecasted to witness a lucrative growth of 21.2% across the analysis period. High growth can be attributed to high healthcare expenditure along with strong presence of key market players in the region. Furthermore, a large percentage of population in the remote areas will be another factor propelling the regional business growth.
Browse key industry insights spread across 210 pages with 418 market data tables & 36 figures & charts from the report, “Telemedicine Cart Market 2020-2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/telemedicine-cart-market
Table of Contents (ToC) of the report:
Chapter 3. Telemedicine Cart Market Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 – 2025
3.3. Industry impact forces
3.3.1. Growth drivers
3.3.2. Industry pitfalls and challenges
3.4. Growth potential analysis
3.5. P2P use cases, laptop on a cart with wheels vs. sophisticated telehealth devices, by country
3.6. Pricing analysis, by country
3.7. Regulatory landscape
3.8. Porter’s analysis
3.9. Competitive landscape, 2018
3.9.1. Competitive matrix analysis
3.9.2. Company market share analysis, by country
3.10. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/telemedicine-cart-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.