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Asia-Pacific Medical Carts Market - Growing At Significant Pace Owing To the Rise in Geriatric Population

02-19-2019 08:45 AM CET | Health & Medicine

Press release from: Allied Market Research

Medical Carts Market

Medical Carts Market

The Asia-Pacific medical cart market is expected to reach $ 555 million by 2022 and is expected to grow at a CAGR of 13.7%.

Increased interest in increasing adoption of electronic health records (EHR) to improve nursing efficiency, prevent patient safety and drug abuse promotes growth in the Asia Pacific medical cart market. In addition, the demand for medical carts has increased as the need to easily access important medical supplies and limit high hospital costs. However, lack of skilled personnel, high costs and maintenance of medical carts can limit market growth.

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The key players in the medical carts market are focused on expanding their business operations in the fast-growing emerging countries with new product launches as a preferred strategy.
The key players profiled in this report include
• Omnicell Inc.
• Hanlim Medical Equipment Co. Ltd.
• Ruilang Medical Equipment Co. Ltd
• Capsa Solutions LLC
• Chang Gung Medical Technology Co. Ltd
• ITD Medical Technology Products Co. Ltd.
• Lifemedic Health care Supplies Pte Ltd
• Midmark Corporation
• Nortek Inc.
• Zhangjiagang Medi Medical Equipment Co. Ltd.

In 2015, it accounted for more than two-fifths in the emergency cart sector, followed by a procedural cart. Emergency jackpot segments are expected to dominate the Asia-Pacific medical cart market throughout the forecast period, both in terms of value and volume.

Emergency carts are important to provide maximum immediate patient care in adverse circumstances.

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China dominated the Asia Pacific medical cart market in 2015, accounting for more than a third of market share, and is expected to continue to increase in the future. China is the country with the highest growth rate in 2015 and the fastest growth rate during the analysis period, and is expected to grow at a CAGR of 16.4%. This is due to the high elderly population that medical procedures and the need for medical carts for this purpose should increase. In addition, healthcare spending improvements complement medical cart sales in China. However, Japan has used 180,000 carts in 2015 and is expected to have a profitable market opportunity with an average 3% surge in Japanese medical spending in 2014-18.

Key Findings of the Asia-Pacific Medical Carts Market:
• In 2015, China dominated the overall medical carts market revenue, and is projected to grow at a highest CAGR of 16.4% during the forecast period, in terms of value and volume.
• Singapore is expected to grow at a remarkable CAGR of 14.2% in terms of value and 13.5% in terms of volume.
• Indonesia is projected to grow at a CAGR of 13.4% in terms of value, during the analysis period.
• Emergency carts segment accounts for about half of the Asia-Pacific medical carts market share in terms of value and three-seventh of share in terms of volume.
• In terms of value, procedure carts is anticipated to grow at the fastest rate of 14.4% from 2016-2022.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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