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Medical Carts Market Size, Trends, Share and Revenue Analysis to 2023 | Worldwide Players InterMetro Industries, Harloff, Armstrong Medical, Capsa Solutions

04-05-2019 10:52 AM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Medical Carts Market

Medical Carts Market

According to Allied Market Research, the global medical carts market was valued at $571 million in 2016 and is projected to reach $1,302 million by 2023, growing at a CAGR of 12.4% from 2017 to 2023. The emergency cart segment accounted for nearly half share of the total market in 2016.

Medical cart/trolley is mobile equipment, which consists of a set of shelves, trays, compartments, and drawers for hospital use and medical settings. It carries, dispense, and transport emergency drugs, medicines, medical devices, and medical instruments. Carts are a crucial aspect of medical aid as it provides storing, recording, and dispensing drugs, supplies, and patient information along with patient care. Many carts are designed to supply various surgical and emergency needs depending on the operating room and other medical settings.

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The emergency carts segment is expected to dominate the Asia-Pacific medical carts market throughout the forecast period, both in terms of value and volume. China dominated the Asia-Pacific medical carts market in 2016, accounting for more than one-third market share in terms of value, and is projected to continue this trend in the future. In addition, growth in improvement of patient safety and nursing efficiency supplement the market growth. Further, advancement in technologies, such as telemedicine offer lucrative opportunities for the growth of this market. However, lack of skilled professionals, high cost of medical carts, and limited government funding restrain the market growth.

The emergency carts segment is anticipated to maintain its dominance, generating highest revenue throughout the forecast period, owing to the large-scale employment of emergency carts at the time of crisis. This is because emergency carts contain sophisticated devices, such as defibrillators, suction devices, advanced cardiac life support (ACLS), apart from drugs, such as atropine, dopamine and others.

In addition, it also includes generic drugs to treat common problems, rapid sequence intubation, and pediatric equipment. However, procedure carts segment is growing at the highest CAGR of 13.0% from 2017 to 2023 in terms of value, as it consists many medical equipment that aid in operating procedures, such as endoscopy, cardiology and others and provides access to essential drugs at the same time.

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Key Market Players:
• InterMetro Industries Corporation (A Part of Ali Group)
• Harloff Company (Harloff Manufacturing Co.)
• Armstrong Medical
• Capsa Solutions LLC.
• Omnicell Inc.
• Medline Industries Inc.
• ITD GmbH
• Midmark Corporation

Key Findings of the Medical Carts Market:

• The procedure carts segment is anticipated to grow at the highest growth rate during the forecast period.
• North America dominated the global medical carts market, accounting for maximum share of overall market in 2016.
• Asia-Pacific is exhibited to grow at a higher growth rate of 13.5% during the forecast period in terms of value, owing to the high population base in countries, such as India and China.
• The emergency cart segment dominated the overall market in 2016, growing at a CAGR of 12.3% in terms of value, from 2017 to 2023.
• In terms of both value and volume, China accounted for the largest share in 2016, and is anticipated to maintain this trend throughout the forecast period in Asia-Pacific region.
• UK is expected to grow at a remarkable CAGR of 13.8% in terms of value and 13.2% in terms of volume during the forecast period.
• In terms of volume, procedure carts are anticipated to grow at the highest rate of 12.9% from 2017 to 2023.

Asia-Pacific has witnessed highest growth rate for medical carts during the forecast period, and is expected to continue this trend. This is attributed to increase in sizeable population, rise in incidence of diseases and injuries, healthcare infrastructural development, and huge market potential, owing to the arrival of new and robust carts by key players focusing on the emerging markets.

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About Us:

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.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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