The global Medical Carts Market is estimated to be valued at US$ 8.91 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.
Medical carts are medical equipment carriers used in hospitals and clinics for the storage and transportation of medicines, medical supplies, and equipment. They help healthcare professionals efficiently carry equipment, supplies, and medications to patients. Several types of medical carts are available in the market such as emergency carts, procedure carts, anesthesia carts, and medical storage carts.
Medical carts find widespread application in various medical departments such as operating rooms, procedure areas, emergency departments, and patient rooms. They improve workflow efficiency and help healthcare staff easily access medicines and supplies at the point-of-care.
Two key drivers contributing to the growth of the medical carts market are rapid growth in hospital infrastructure and increasing demand for medical mobility services. Growing investments by both public and private entities into hospital infrastructure development across major countries is fueling the demand for medical equipment including medical carts. Furthermore, the increasing focus on providing quality care through point-of-care services is driving the need for medical carts that can improve workflow mobility.
Strength: Medical carts offer mobility and flexibility which is beneficial for hospitals and healthcare facilities. They allow storage of medical supplies, charting, medications and equipment in one place. Medical carts have compartments, drawers and shelves for organized storage. Many carts come with optional add-ons like computer mounts, oxygen tank holders which enhance functionality.
Weakness: Heavy weight of medical carts makes them difficult to maneuver especially in small spaces. Frequent movement of carts can cause wear and tear over time affecting functionality. Initial investment in high quality medical carts is high which may not be suitable for all small healthcare setups.
Opportunity: Growing geriatric population prone to chronic diseases is driving the demand for quality healthcare infrastructure. Increasing hospital investments in technology and digitization provide scope for incorporating medical carts. Rapid expansion of ambulatory surgical centers and emergence of telehealth is opening new application areas.
Threats: Strict regulations around sanitization and durability standards pose compliance challenges. Price wars among established players can squeeze margins of smaller companies. Shift towards home healthcare is reducing footfalls in hospitals slightly impacting demand.
Medical Carts Market Size is expected to witness high growth, exhibiting CAGR of 9.9% over the forecast period, due to increasing investment in healthcare infrastructure development globally. Rapid digitalization and emergence of hybrid operating rooms is propelling demand for upgraded medical carts.
North America dominated the global medical carts market in 2023, accounting for over 35% share. Higher healthcare expenditure per capita and technological advancements drive the US and Canada markets. Asia Pacific is projected to grow at fastest rate during the forecast period due to improving access to quality care in China, India and Southeast Asian countries. Growing medical tourism is attracting hospital investments in these emerging nations.
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. Product innovation through customization and addition of telehealth compatible features will help these companies strengthen market presence. Collaboration with hospital administration will aid understanding evolving needs.