February 25, 2024

The growth of telemedicine is anticipated to open up the new avenue for Medical Carts Market

Medical carts are movable medical equipment storage units used in healthcare settings like hospitals, clinics, laboratories and other medical facilities. They are designed with storage compartments, drawers and shelving units to securely hold and transport medical supplies, equipment, files and patient documents. Popular products include procedure carts, emergency carts, anesthesia carts, ekg/endoscopy/sterile/medication distribution carts. Their compact size and maneuverability allows easy movement of medical necessities between locations within medical facilities.

The Medical Carts Market is estimated to be valued at US$ 3,479.2 Mn or Mn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Growing adoption of telemedicine and adoption of digital health records is driving greater need for mobile medical carts. Telemedicine involves remote delivery of healthcare services like diagnoses, consultation and treatment through digital means when patient and provider are separated by distance. This has boosted demand for medical carts equipped with computers, cameras and other devices to enable virtual doctor visits and digital health records access from remote areas.

In addition, increasing focus on curbing healthcare costs is prompting facilities to optimize workflow and storage systems through centrally managed medical carts equipped according to department needs. This streamlines supply staging and distribution while avoiding wastage, thereby reducing operational expenses.
Segment Analysis

The medical carts market is dominated by the emergency carts segment. Emergency carts are extensively used in hospital operation theatres, emergency rooms, and intensive care units to store and transport medical instruments, supplies, and medications. These carts are designed for quick access during medical emergencies and come equipped with lockable drawers and brackets to hold medical equipment and supplies in an organized manner. Their mobility and multiple storage capabilities make emergency carts highly useful for caregivers.

PEST Analysis

Political: Regulations regarding use of healthcare equipment and hospital infrastructure differ across countries, impacting demand. Supportive governmental policies aim to improve accessibility of quality care.
Economic: Growth in healthcare spending is steadily driving market expansion. Aging populations needing greater access to care present business opportunities.
Social: Rising incidence of chronic diseases and need for improved patient outcomes pressures facilities to invest in better equipment and technologies.
Technological: Integration of IT solutions enables inventory management, asset tracking, and equipment monitoring. Adoption of touchscreen interfaces and power outlets for charging enhances functionality.

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 spending on healthcare infrastructure development across developing nations. The market size for 2023 is estimated to be US$ 3,479.2 Mn.

Regional analysis: North America dominates the medical carts market currently due to advanced healthcare infrastructure and rising healthcare spending in the region. Asia Pacific is expected to grow at the fastest pace owing to increasing patient pool, improving access to hospitals and clinics, and investments by key players.

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 partnerships to strengthen their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it