Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Global Medical Carts Market, By Type, By Application, By Material Type, By Payload, By End User, By Distribution Channel, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global medical carts market held a market value of USD 1,576.22 million in 2021 and is estimated to reach USD 4,003.25 million by the year 2027. The market is projected to list a CAGR of 11.24% during the forecast period. The market volume was estimated to be 2,178 thousand units in 2021, and is projected to rise at a CAGR of 9.77% over the anticipated period.
Due to the rising demand for quick and simple access to medical supplies and the widespread use of medical carts, the market for medical carts is expected to experience significant expansion throughout the forecasted period. Additionally, the growing investment in strategic actions is probably what will drive the market's expansion.
The major market players also actively participate in strategic efforts like joint ventures, product launches, and collaborations. Due to the rising need for medical carts in these nations, the Asia Pacific market for medical carts is also predicted to rise at the quickest rate. Based on type, application, material type, payload, end user, and distribution channel, the market is divided.
One of the major drivers of the medical carts market's expansion is the emergence of telemedicine and telehealth as well as technological developments in medical carts. The use of mobile carts is expanding as a result of constantly improving technology that provides better layout, construction, alternatives, and features that satisfy consumer needs.
For instance, in December 2021, Advantech, a well-known supplier of medical computer systems and services, added the AMiS-30EP pole cart to its AMiS product range. This product can be equipped with a range of monitors and devices, depending on the application. These technological advancements will probably cause the industry to grow soon.
Due to associated advantages like being portable and mobile, requiring less space, and providing one-stop solutions for all clinical requirements of the caregiver, these carts are most frequently used by point-of-care facilities. Throughout the forecast period, the segment is expected to hold its position.
Rise in the need for rapid and easy accessibility to medical supplies
The need for medical carts is anticipated to increase in the coming years since these carts boost nursing productivity and enable better patient care.
Medical cart innovations including the availability of light items with better mobility and ergonomics are anticipated to improve the usage of these devices. The safety of nursing personnel is increased by the availability of handle and wheel mounts to the proper and appropriate sizes of batteries.
Increase in the geriatric population
According to a WHO estimate, the percentage of people over 60 in the world would increase from 12% to 22% between 2015 and 2022. 80 percent of the elderly population in 2050 will reside in low- and middle-income nations. Furthermore, between 2050 and 2100, the number of people 80 or older is predicted to triple, reaching around 426 million.
Declining mortality rates, which are reflected in rising levels of life expectancy at birth, contribute to population expansion. In 2019, the average life expectancy in the world was 72.8 years, an increase of over 9 years since 1990. The average lifespan worldwide is anticipated to reach 77.2 years in 2050 as a result of further mortality reductions. Thus, the rise in geriatric population fuels the demand for medical carts.
Segments Overview:
By Type
- Anaesthesia Carts
- Emergency Carts
- Procedure Carts
- Computer Medical Cart
- Medical Laboratory Utility Cart
- Others
The emergency carts segment held the highest market share of more than 35% in 2021. Moreover, the computer medical cart segment is also expected to grow at a steady rate. The medical computer cart is designed to reduce the workload for nurses and other healthcare professionals.
By Application
- Medical Supply Storage
- Surgical Tool Holding
- Transporting and Dispensing Medications Systems
- Laboratory
- Others
The transporting and dispensing medications systems segment is expected to hold the largest CAGR of 11.81% over the anticipated period.
By Material Type
- Plastic
- Wood
- Stainless Steel
- Metal
- Others
The stainless steel segment is expected to reach USD 1,020.55 million by 2030.
By Payload
- 50 kg
- 65 kg Systems
- 80 kg
- 150 kg
- 180 kg
- Others
The 65 kg systems segment is expected to grow at a highest CAGR of 11.29% with largest market share.
By End User
- Hospitals
- Clinic
- Ambulatory Surgical Centers
- Trauma Centers
- Others
The hospitals segment held the highest share close to 46% in 2021.
By Distribution Channel
- Direct Tender
- Third Party Distributors
- Others
The third party distributors segment is projected to grow highest at the highest CAGR of more than 10% over the anticipated period.
Regional Overview
By region, the global medical carts market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America.
The North America market for medical carts held the largest market share of more than 30% in 2021. On the other hand, the Asia Pacific market for medical carts is estimated to grow the highest with a growth rate of 12.01% over the forecast period.
Competitive Landscape
Advantech Co. Ltd, AFC Industries Inc., Altus Inc., Bergmann Group, Capsa Healthcare, Enovate Medical, Ergotron Inc., Harloff Manufacturing Co., InterMetro Industries Corporation, ITD GmbH, Jaco Inc., Joy Factory Inc., Medical Master Co., Ltd., Midmark Corporation, Midwest Products & Engineering, Omnicell Inc., The Bergmann Group, Waterloo Healthcare, McKesson Medical-Surgical Inc., and others are the leading companies. Around 40% of the market was controlled by the leading companies.
Several participants are concerned about maintaining their market share. Capsa offers a wide selection of cutting-edge products to meet the specific needs of this industry. There are four different types of medication carts that match the decor of any long-term care facility: Medical carts for any procedure and storage demand; automated dispensing cabinets for controlled drug security (NexsysADC); telehealth carts and electronic health records (EHR/EMR) for papers transportation.
Additionally, in the previous year, McKesson Medical-Surgical Inc. earned 4% of its revenue from its medical surgical solutions.
Executive Summary:
Key Topics Covered:
Chapter 1. Research Framework
1.1 Research Objective
1.2 Product Overview
1.3 Market Segmentation
Chapter 2. Research Methodology
2.1 Qualitative Research
2.1.1 Primary & Secondary Sources
2.2 Quantitative Research
2.2.1 Primary & Secondary Sources
2.3 Breakdown of Primary Research Respondents, By Region
2.4 Assumption for the Study
2.5 Market Size Estimation
2.6. Data Triangulation
Chapter 3. Executive Summary: Global Medical Carts Market
Chapter 4. Global Medical Carts Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Material Provider
4.1.2. Manufacturer
4.1.3. Distribution
4.1.4. End User
4.2. Industry Outlook
4.2.1. Medical Cart Technological Advancement
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Power of Buyers
4.4.3. Threat of Substitutes
4.4.4. Threat of New Entrants
4.4.5. Degree of Competition
4.5. Market Dynamics and Trends
4.5.1. Growth Drivers
4.5.2. Restraints
4.5.3. Challenges
4.5.4. Key Trends
4.6. Covid-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.7.1. Market Revenue Estimates and Forecast (US$ Mn), 2017 - 2030
4.7.2. Market Volume Estimates and Forecast (000' Units), 2017 - 2030
4.7.3. Price Trend Analysis, By Product
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2020
4.8.3. Competitor Mapping
Chapter 5. Medical Carts Market Analysis, By Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and 000' Units)
5.2.1. Anaesthesia Carts
5.2.2. Emergency Carts
5.2.3. Procedure Carts
5.2.4. Computer Medical Cart
5.2.5. Medical Laboratory Utility Cart
5.2.6. Other
Chapter 6. Medical Carts Market Analysis, By Application
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and 000' Units)
6.2.1. Medical Supply Storage
6.2.2. Surgical Tool Holding
6.2.3. Transporting and Dispensing Medications
6.2.4. Laboratory
6.2.5. Others
Chapter 7. Medical Carts Market Analysis, By Material Type
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and 000' Units)
7.2.1. Plastic
7.2.2. Wood
7.2.3. Stainless Steel
7.2.4. Metal
7.2.5. Others
Chapter 8. Medical Carts Market Analysis, By Pay Load
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
8.2.1. 50 kg
8.2.2. 65 kg
8.2.3. 80 kg
8.2.4. 150 kg
8.2.5. 180 kg
8.2.6. Others
Chapter 9. Medical Carts Market Analysis, By End User
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
9.2.1. Hospitals
9.2.2. Clinics
9.2.3. Ambulatory Surgical Centers
9.2.4. Trauma Centers
9.2.5. Others
Chapter 10. Medical Carts Market Analysis, By Distribution Channel
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
10.2.1. Direct Tender
10.2.2. Third Party Distributors
10.2.3. Others
Chapter 11. Medical Carts Market Analysis, By Region
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and 000' Units)
11.2.1. North America
11.2.1.1. The U.S.
11.2.1.2. Canada
11.2.1.3. Mexico
11.2.2. Europe
11.2.2.1. Western Europe
11.2.2.1.1. The UK
11.2.2.1.2. Germany
11.2.2.1.3. France
11.2.2.1.4. Italy
11.2.2.1.5. Spain
11.2.2.1.6. Rest of Western Europe
11.2.2.2. Eastern Europe
11.2.2.2.1. Poland
11.2.2.2.2. Russia
11.2.2.2.3. Rest of Eastern Europe
11.2.3. Asia Pacific
11.2.3.1. China
11.2.3.2. India
11.2.3.3. Japan
11.2.3.4. South Korea
11.2.3.5. Australia & New Zealand
11.2.3.6. ASEAN
11.2.3.7. Rest of Asia Pacific
11.2.4. Middle East & Africa
11.2.4.1. UAE
11.2.4.2. Saudi Arabia
11.2.4.3. South Africa
11.2.4.4. Rest of MEA
11.2.5. South America
11.2.5.1. Argentina
11.2.5.2. Brazil
11.2.5.3. Rest of South America
Chapter 12. North America Medical Carts Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
12.2.1. By Type
12.2.2. By Application
12.2.3. By Material Type
12.2.4. By Pay Load
12.2.5. By End User
12.2.6. By Distribution Channel
12.2.7. By Country
Chapter 13. Europe Medical Carts Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and 000' Units)
13.2.1. By Type
13.2.2. By Application
13.2.3. By Material Type
13.2.4. By Pay Load
13.2.5. By End User
13.2.6. By Distribution Channel
13.2.7. By Country
Chapter 14. Asia Pacific Medical Carts Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2030 (US$ Mn and 000' Units)
14.2.1. By Type
14.2.2. By Application
14.2.3. By Material Type
14.2.4. By Pay Load
14.2.5. By End User
14.2.6. By Distribution Channel
14.2.7. By Country
Chapter 15. Middle East and Africa Medical Carts Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
15.2.1. By Type
15.2.2. By Application
15.2.3. By Material Type
15.2.4. By Pay Load
15.2.5. By End User
15.2.6. By Distribution Channel
15.2.7. By Country
Chapter 16. South America Medical Carts Market Analysis
16.1. Key Insights
16.2. Market Size and Forecast, 2017 - 2030 (US$ Mn & 000' Units)
16.2.1. By Type
16.2.2. By Application
16.2.3. By Material Type
16.2.4. By Pay Load
16.2.5. By End User
16.2.6. By Distribution Channel
16.2.7. By Country
Chapter 17. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
17.1. Advantech Co. Ltd
17.2. AFC Industries Inc.
17.3. Altus Inc.
17.4. Bergmann Group
17.5. Capsa Healthcare
17.6. Enovate Medical.
17.7. Ergotron Inc.
17.8. Harloff Manufacturing Co.
17.9. InterMetro Industries Corporation
17.10. ITD GmbH
17.11. Jaco Inc.
17.12. Joy Factory Inc.
17.13. McKesson Medical-Surgical Inc.
17.14. Medical Master Co., Ltd.
17.15. Midmark Corporation
17.16. Midwest Products & Engineering
17.17. Omnicell Inc.
17.18. The Bergmann Group
17.19. Waterloo Healthcare
17.20. Other Prominent Players
A selection of companies mentioned in this report includes
- Advantech Co. Ltd
- AFC Industries Inc.
- Altus Inc.
- Bergmann Group
- Capsa Healthcare
- Enovate Medical
- Ergotron Inc.
- Harloff Manufacturing Co.
- InterMetro Industries Corporation
- ITD GmbH, Jaco Inc.
- Joy Factory Inc.
- Medical Master Co., Ltd.
- Midmark Corporation
- Midwest Products & Engineering
- Omnicell Inc.
- The Bergmann Group
- Waterloo Healthcare
- McKesson Medical-Surgical Inc.
For more information about this report visit https://www.researchandmarkets.com/r/dczz1s
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