MEDICAL CARTS MARKET ANALYSIS

Medical Carts Market Size and Trends

The medical carts market is estimated to be valued at USD 2.90 Bn in 2024 and is expected to reach USD 5.54 Bn by 2031, growing at a compound annual growth rate (CAGR) of 9.7% from 2024 to 2031.

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The rising demand for improved patient care and mobility along with the growing need to better organize and securely store medical equipment and supplies in hospitals is driving the increased adoption of medical carts. The medical carts market is expected to witness significant growth over the forecast period. Key factors such as rising geriatric population, growing prevalence of chronic diseases, increasing number of hospitals, and technological advancements in cart designs to improve functionality and mobility will boost demand. However, high costs associated may hinder market growth to some extent.

Rising need for improved mobility in healthcare facilities

The growing demand for advanced mobile medical equipment is being driven by the increasing need among healthcare providers to improve the mobility of various medical devices and supplies within their facilities. Modern healthcare settings, especially large multi-specialty hospitals, require seamless movement of items between departments, floors, and wings to help facilitate efficient patient care services. Medical carts have emerged as an ideal solution to carry a variety of medical tools, supplies, pharmaceuticals, and accessories directly to the point of patient care. Having all necessary items readily available on carts helps save precious time for doctors and nurses and enables them to focus maximum time and attention on treating patients. It also avoids back-and-forth walks to retrieve things from central supply areas. This is proving particularly useful in emergency rooms and operating rooms where every second is critical. Moreover, medical carts allow for grouping of multiple supplies and equipment together in an organized manner, thus promoting better inventory management. Their maneuverability allows staff to simply wheel the carts between patient beds, treatment areas, and storage locations. Leading healthcare providers are recognizing how mobile medical carts can help streamline clinical workflows and optimize resource utilization.

Market Concentration and Competitive Landscape

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Across the world, technology is gradually but profoundly changing the way healthcare is delivered. With digitization gaining a stronger foothold, there is growing emphasis on deploying various smart medical devices and automated solutions to enhance the quality and outcomes of patient care. Technology is serving to make processes more efficient as well as introduce new and advanced forms of diagnosis, treatment planning, and remote monitoring. This digital healthcare revolution is bringing about higher standards and expectations from both providers and consumers alike. As a result, there is increasing investment in medical equipment integration technologies that can support real-time access to patient data, facilitate clinical collaboration, aid clinical decision making, and enable telehealth services. In this environment, medical carts that offer platform flexibility for different medical peripherals are gaining traction.

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The medical carts market is facing challenges due to the increasing demand for technologically-advanced products integrated with digitization. High investment required for R&D of innovative medical carts and shorter shelf-life of products due to continuous technological upgrades pose major challenges for manufacturers. Additionally, lack of standardization and difficult regulatory compliance procedures across regions make market entry challenging.

Market Opportunities: Demand for multifunctional carts integrated with IT solutions

The medical carts market sees opportunities from growing geriatric population and rising healthcare spending globally. Increasing demand for multifunctional carts integrated with IT solutions from hospitals provides an opportunity to cater to customized requirements. Portable and compact carts designed for home healthcare and ambulatory services will help tackle issues of limited space. Adoption of robotic medical carts can help address global shortfall of healthcare workers.

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The modality segment includes powered carts and non-powered carts. Powered carts segment is anticipated to hold 67.8% of the market share in 2024. Powered carts are equipped with advanced batteries and efficient engines that provide enhanced mobility and maneuverability within healthcare premises. Regular software upgrades further optimize the performance of powered carts. Their ability to navigate uneven floors and tight spaces while carrying heavy loads of medical equipment make them indispensable for hospitals and clinics. Features like customizable racks, drawers and platforms allow powered carts to be effectively utilized across departments for diverse needs. Their rechargeable batteries facilitate equipment access at patient bedsides without disruption. Advanced fleet management solutions enable real-time monitoring and workflow optimization.

Insights, By Product Type: Growing Adoption of Mobile Computing Carts for Enhanced Patient Care

The product type segment includes mobile computing carts, emergency carts, medication carts, anesthesia carts, procedure carts, and others. Mobile computing carts contributes the highest share of the Medical Carts Market and is projected to hold 38.8% of the market share in 2024. Mobile computing carts promote telehealth and facilitate remote monitoring. Their movable design facilitates back-to-back deployment at ward rounds and emergency response. Built-in computer systems, drawers, and storage enhances efficiency of documentation, inventory management and treatment planning. Dual monitor fittings ensure seamless access to electronic health records and diagnostic images. Anti-microbial surfaces maintain infection control. Wireless connectivity supports uninterrupted consultations and virtual rounds. Ongoing advancements in compact devices, interfaces and network technologies are driving further deployment of mobile computing carts.

Insights, By End User: Hospitals Lead Demand for Versatile Medical Carts

The end user segment includes hospitals & clinics, diagnostic centers, ambulatory surgical centers, and others. Hospitals & clinics contributes the highest share of the medical carts market and is projected to hold 54.2% of the market share in 2024. Large patient footfall and multidisciplinary needs result in higher demand for carts across departments. Versatile designs suiting unit-specific workflows optimize efficiency. Centralized inventory management facilitated by carts aids cost control. Their movable nature supports effective space utilization. Periodic modernization programs by hospitals to upgrade fleets further propels the market growth. The growing number of specialty hospitals and super-specialty facilities also contributes to higher demand.

Regional Insights

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North America has established itself as the dominant regional market for medical carts and is anticipated to hold 43.9% of the market share in 2024. With a well-developed healthcare infrastructure and high healthcare spending, the U.S. and Canada have a large demand for medical carts from hospitals, private clinics, and long-term care facilities. Several leading medical equipment manufacturers are headquartered in North America, giving the region an advantage in terms of industry presence and manufacturing capabilities. For instance, companies like AFC Industries, Ergotron, and InterMetro Industries have a major presence across hospitals in the U.S., allowing them seamless distribution and strong customer relationships. North America is also at the forefront of adopting new technologies in medical carts, with items like powered carts and digital medical carts gaining popularity. However, high initial costs and stringent regulatory approvals continue to impact market penetration in this region.

The Asia Pacific region has emerged as the fastest growing market for medical carts globally. Countries like China, India, Japan, and South Korea are witnessing increased healthcare infrastructure investments as well as a rise in medical tourism. This has significantly boosted the demand for medical carts from both public and private hospitals. Additionally, several global medical cart manufacturers have established manufacturing facilities or tied up with local partners in Asia Pacific to cater to the growing demand. This has made medical carts more affordable and easily accessible in the region. Countries like China and India also have a flourishing domestic medical devices industry that contributes to the regional supply landscape. The increasing healthcare awareness and expenditure in Asia Pacific is expected to continue propelling the demand for innovative medical carts in the coming years.

Market Report Scope

Medical Carts Industry News

• On March 11, 2024, GCX, the global leader in medical mounts for healthcare IT solutions, launched the new GCX Tablet Roll Stand, which provides safe and secure access to patient services and medical records from wherever in the hospital. The carts are easily maneuverable and include a fixed or adjustable height tablet arm for optimal viewing and access to video conferencing, electronic medical data, and patient care.
• On February 22, 2024, Wincomm, one of Taiwan's top manufacturers of medical and industrial computers, stated that it has upgraded its new medical cart panel PC WMP-22P/24P series to a unique power design known as the WMP-22P/24P-PIS series. This design incorporates the hard-to-storepower supply unit within the system, allowing for applications that require simultaneous use with medical carts and point of care conditions.
• In August 2021, Ergotron, a global company focused on improving how people work, study, play, and care for others, released the most recent update to its CareFit Pro Medical Cart, which is intended to future-proof workflows and emphasize caregiver well-being in order to drive patient-centered care. The CareFit Pro Medical Cart establishes a new standard in residential design, promoting calming, healing surroundings for both caregivers and patients alike.
• In November 2020, MPE, the leading maker of custom medical device carts, launched a new program to assist medical device original equipment manufacturers in bringing their products to market faster and at a reduced cost. The MACH Series of modular cart components is simple to configure, allowing any modification effort to be directed toward areas that have the most impact on device workflow. For example, a normal base, column structure, and storage may be paired with a specialized top shelf designed to fit the device.

*Definition: The medical carts market consists of portable carts and workstations used in healthcare settings like hospitals and clinics. Medical carts are used to store and transport medical supplies, equipment, and patient files. They come equipped with features like drawers, shelves, power outlets, laptop holders, and infusion pumps/ventilator mounts to enable physicians and nurses to access necessary tools at the point of care. Medical carts aim to improve workflow efficiency and patient safety within clinical environments.

Market Segmentation

• Modality Insights (Revenue, USD BN, 2019 - 2031)
• • Powered Carts
  • Non-powered Carts
•  Product Type Insights (Revenue, USD BN, 2019 - 2031)
• • Mobile Computing Carts
  • Emergency Carts
  • Medication Carts
  • Anesthesia Carts
  • Procedure Carts
  • Others
•  End User Insights (Revenue, USD BN, 2019 - 2031)
• • Hospitals & Clinics
  • Diagnostic Centers
  • Ambulatory Surgical Centers
  • Others
• Regional Insights (Revenue, USD BN, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • AFC Industries
  • Advantech Co. Ltd.
  • Alphatron
  • Enovate Medical
  • Ergotron Inc.
  • Harloff Manufacturing Co.
  • JACO Inc.
  • Medline Industries Inc.
  • Scott-Clark Medical.
  • ITD GmbH
  • Capsa Healthcare
  • TOUCHPOINT MEDICAL INC.
  • Armstrong Medical Inc.
  • McKesson Medical-Surgical Inc.
  • Omnicell Inc.
  • Altus Health System
  • Parity Medical