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The global medical carts market size stood at USD 661.6 million in 2018 and is projected to reach USD 1,512.8 million by 2026, exhibiting a CAGR of 11.2% during the forecast period.
Medical carts are lightweight mobile carts used in medical facilities for various purposes including storage and transportation of medicines, supplies, equipment, and more. These carts are generally made of materials that are appropriate for the healthcare set-up, for example stainless steel, powder-coated steel, wood laminate, healthcare-grade PVC, etc., and generally contains accessories like outlet power strips and storage bins for expediency. On the basis of the design, construction material, shape and weight, medical carts can be categorized into respiratory carts, housekeeping carts, crash carts, utility carts, and isolation carts; all designed and made for specific tasks and purposes.
Medical carts play a fundamental role in keeping staff in healthcare settings prepared and organized, thus keeping the patients safe and cared for. A well designed medical cart has the potential to progress quality of service of a hospital/ healthcare institution. Furthermore, the healthcare industry is increasing emphasis on efficiency and reduction of medical errors, as the impact of advancing technology is being felt acutely in this market, thus, driving the developments and innovations in the market. For example, medical carts being equipped with touch panel PCs, which offer scalable computing power, and technology such as radio frequency identification (RFID) is also being used to reduce and eliminate human errors. In addition, cloud-based smart medical automation is also being used for inventory management, and lessening the amount of time utilized for redundant and mechanical tasks.
Factors such as the growing focus on improving nursing efficiency, improvement in healthcare in underdeveloped countries, rising adoption of electronic health record (EHR), and patient safety, to prevent medication errors drive the growth of the medical carts market. In addition to this, ease of availability of critical medical supplies and the growing need to limit the high hospital costs, further fuel the demand for medical carts. Moreover, the emergence of telemedicine and the accessibility of technologically advanced medical carts are contributing to the market growth. These products increase nursing efficiency and help in better caregiving for patients. Growing demand for point-of-care diagnostic technology is also impelling the growth of the market. However, the high cost and maintenance of these carts, and unskilled workforce could restrict the market growth.
Use of Standard Medical Carts with Customizable Options is Fostering the Medical Carts Market
A growing trend of customization in the medical carts industry has been observed, due to the changing consumer preferences, which directly impact the design of these carts. With this trend, the manufacturers are looking to increasingly meet the diverse requirements of end users in the healthcare industry. One of the most prominent design trends in the industry is the use of standard medical carts with customizable options. This customization has allowed manufacturers to give the customer a base reference to build on, based on necessities, at the same time, is cost- effective.
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Alternatively, a major design trend in the manufacturing of medical carts is the integration of the equipment into the cart itself. Medical devices are being combined with the cart itself, uplifting the cart from being just an accessory to being as important as the device itself.
A Push for Electronic Medical Records is Driving the Growth of Medical Carts Market
Over time, an immense push for digital records has swept globally. With this trend arose the invention of a hospital cart that could bring digital equipment such as printers, laptops, and scanners. These features impelled a much higher need and the price tag for standard medical carts.
At present, digital medical records are the standard in 90% of healthcare facilities, and thus, creating a significant need for medical laptop carts on wheels. Further, to support physicians and nurses, these carts are becoming more advanced and portable. Thus, keeping up with the demands in the fast-paced healthcare environment, and propelling the growth of this market.
Technological Innovations are Likely to Propel the Growth of the Market
Technology is a central part of the physician-client relationship. Whether the physician is recording invasive surgery, biometrics, or collecting information, using the latest technology is necessary.
Currently, breakthrough technology in the medical field includes robot-assisted surgery, simplified access to digital records, genome mapping, and assistive devices that can easily lift bed-ridden patients. Thus, these advances save time for physicians & nurses and help them focus on diagnosing ailments, deliver excellent patient care, and eliminate mundane tasks from their workload. Hence, all the above mentioned factors are responsible to boost the medical carts market growth. For example, In February 2019, Jaco announced PerfectView AIO, it is a first EHR cart built for battery-powered all in one PCs. It helps nurses to easily move throughout the hospital and work diligently and comfortably at the patient bedside.
Underqualified Workforce Likely to Hinder the Market Growth
A significant factor that reduces the sales of medical carts is an underqualified workforce. Several carts, today, feature equipment that may need training or certification to operate. A shortage of highly skilled employees may limit the amount of money invested in medical carts as they may not be adequately handled, and create a negative impact on this market.
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Emergency Carts Segment Dominated the Global Medical Carts Market
Based on type, this market is segmented into emergency carts, anesthesia carts, procedure carts, telemedicine carts, and others.
The emergency cart segment dominated the market with a share of 41.2% in 2018. Emergency carts are used in hospital facilities, emergency vehicles, and in patient’s homes, these easy-to-clean devices are fully-equipped to support emergencies. Moreover, developments such as lighter weight designs, improved mobility, and superior ergonomics are expected to spur the adoption of emergency medical carts during the forecast period. In addition, other factors that lift emergency medical carts over others is their ergonomics, portability, and maneuverability.
The procedure segment is anticipated to gain popularity in the coming years due to the high usage of procedural carts in numerous hospital settings. These products are highly helpful in operating procedures, such as endoscopy, and cardiology and provide access to necessary therapeutics. These benefits are predicted to propel the growth of the procedure carts segment in the future.
The procedure carts segment is anticipated to gain popularity in the coming years due to the constant usage of procedural carts in numerous hospital settings. These products are highly helpful in operating procedures, such as endoscopy, and cardiology and provide access to necessary therapeutics. These benefits are predicted to propel the growth of the procedure carts segment in the future.
Metal Type Segment Dominated the Medical Carts Market in 2018
On the basis of material type, the medical cart market has been segmented into metal type, plastic-type, and others. The metal type segment dominated the market with a share of 70.0% in 2018. By type of materials used, metal and plastic are preferred over wood. Plastic is an economical option when creating hospital carts and other equipment. Currently, virtually all carts are made from stainless steel or types of polymers as these materials resist germs, and workers can clean and sanitize them quickly.
The metal carts segment is projected to show significant growth over the analysis time period. Resistance to corrosive disinfectants used in hospitals and robustness offered by the metal medical carts is likely to boost the product demand. Besides, metal carts do not crack and thus are less prone to the contamination that might happen in plastic carts. These advantages offered by metal carts will contribute to the market segment expansion.
On the basis of end-users, this market has been segmented into hospitals, physician offices or clinics, and others. Hospitals are the leading end users of medical carts. Accessibility of technologically advanced and mobile medical workstations is driving their adoption. These advancements comprise secure, adjustable, and efficient systems for medication delivery. Moreover, growing focus on patient engagement and promotion of EHR incentive programs in hospitals to boost patient involvement are among factors anticipated to impel the demand for end users segment.
On the other hand, the adoption of the medical carts in physicians’ offices or standalone clinics is expected to see a balanced rise in the coming years. This can be attributed to the upsurge in awareness and demand for one-stop solutions that take up less space and can be used for numerous medical needs. As these carts are used in carrying medical equipment, medicines, computers, and storage cabinets, their acceptance in clinics is likely to record significant growth during the forecast period.
North America Medical Carts Market Size, 2018(USD Million)
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The medical carts market in North America was valued at USD 307.3 million in 2018 and is also expected to witness the highest growth during the forecast period. The growing prevalence of musculoskeletal injury coupled with technological advancements are some of the major driving factors driving the growth of the market in North America.
The market for Asia Pacific is predicted to grow at the highest CAGR during the forecast period due to improving healthcare infrastructure and growing incidences of musculoskeletal injury in the region. Furthermore, the increasing adoption of electronic medical records in the Asia-Pacific market is an additional factor responsible for driving market growth. Besides, emerging countries such as India and China provide enormous growth opportunities to the manufacturers for this market.
Ergonomic Designs, and Technological Development of AFC Industries., has Propelled the Company to a Leading Position in the Global Market
AFC Industries, Inc. offers an extensive variety of height-adjustable / sit-stand workstations, space-saving desks, mobile carts, wall mounts, computer furniture, racking systems, security desks and stations, cardiology reading room desks and stations, radiology reading room desks and stations, and soundproof partitions.
The company focuses on product innovations, improving quality in terms of functionality and designs. Likewise, these active companies have embraced ergonomic designs for the carts as their key strategy to surge their geographical presence and customer base.
However, regional and domestic players such as Ergotron, Inc., ITD Gmbh, Enovate Medical, AFC Industries, Advantech Co., Ltd., Capsa Healthcare, Waterloo Healthcare, The Bergmann Group, Harloff Manufacturing Co., Jaco, Inc., Medline Industries, Inc., Altus Inc., Performance Health and others are the key market players in medical cart market. Thus, anticipating to impact the global market positively, and these companies are likely to gain market share during the forecast period.
An Infographic Representation of Medical Carts Market
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The medical carts market report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading modalities types. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years.
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Value (USD million)
By Material Type
By End User
Fortune Business Insights says that the global market was USD 661.6 million in 2018 and is projected to reach USD 1,512.8 million by 2026.
In 2018, the market was valued at USD 661.6 million.
Growing at a CAGR of 11.2%, the market will exhibit substantial growth in the forecast period (2019-2026)
The emergency cart segment is expected to be the leading segment in this market during the forecast period.
Growing incidence of musculoskeletal injury (MSI) and increasing adoption of electronic medical records (EMR) in hospitals are fueling the demand for the market.
AFC Industries, Advantech Co., Ltd., Capsa Healthcare are amongst the leading player in the global market.
North America dominated the market in 2018.
Ergonomic designs, manufacturing, Innovation, technological advancements, and geographic expansion are the key strategies adopted by market players.
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