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Global Medical Carts and Workstations Market Growing at A CAGR 14.9% From 2019 To 2026

02-28-2020 11:44 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Ozone Market Reports

The global medical carts and workstations market was valued at USD 1,648.2 million in 2018 and is expected to reach USD 4,912.6 million in 2026, growing at a CAGR 14.9% from 2019 to 2026.

The medical carts and workstations allow the user to easily access mobile electronic health records from the point-of-care. The growing incidence of musculoskeletal injury (MSI) and the growing adoption of electronic medical records (EMR) in hospitals are key contributors to the market growth. In addition, increasing adoption of mobile carts can be attributed to the availability of technologically advanced products that offer better configuration, construction, options, and features to meet the requirements of consumers. Considering the current scenario, the increase in the need to help medical and surgical staff is primarily expected to boost market growth in the coming years.

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Moreover, the increase in government spending along with the increasing demand emergency vehicle service are expected to further create the demand. The benefits on the surgical floor, a secure tablet PC mobile medication cart coupled is more convenient compared to separate medication and computer cart, as it primarily saves space with the cost. However, the critical care units have limited floor space to provide the benefit from such solutions. This results in expand the demand for medical carts and workstations in the global market. However, the high price for the cost and continuous need of maintenance are expected slow-down the market growth of the medical carts and workstations during the forecast period.
The mobile computing carts product segment dominate the market throughout the forecast periodBased on the product type, the medical carts and workstations market has been segmented into mobile computing carts, wall-mounted workstations, medication carts, medical storage columns, cabinets & accessories, and others. The mobile computing carts segment accounted for the largest share of more than 40% in terms of volume in the global medical carts and workstations market in 2018 owing to high adoption by hospitals. The increase in innovation and technological advancements such as changing ergonomics and advanced designs for mobile medical carts are expected to propel the demand in the global market.

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The medication carts expected to register for the highest CAGR of in the global medical carts and workstations market over the forecast period. Based on the application, the hospital segment is expected to dominate over the forecast period Based on the application, the market has been segmented into hospital, ambulatory surgical center, physician offices or clinic, and others. The hospital segment accounts of the largest share in the market and expected to register a CAGR of 15.8% during the period of 2019-2026. The growth of the hospital segment depends on the rapid growth in the investment and government spending for the development and evaluation of a developed healthcare system. Moreover, the rapid increase in urbanization and industrialization across developing countries are further expected create opportunities to expand the adoption of medical carts and workstations in the market and further enhance the market size over the forecast period.
North America to dominate the medical carts and workstations market throughout the forecast period North America accounted for more than 40% market share of the global medical carts and workstations market in 2018 and is expected to dominate the market throughout the forecast period. The region dominated the market owing to the advanced healthcare industry with higher healthcare spending from the government officials, higher acceptance of advanced technologies, higher life expectancy, and increased adoption of electronic medication administration record systems.

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This expected to increase the demand for medical carts and workstations in the domestic market. Considering the current scenario, the growth in the favorable government initiatives and incentive schemes to enhance patient safety with increase healthcare workflows, easy accessibility to medical carts & workstations with the developed healthcare system, and presence of many leading medical players in the region are further expected to boost the demand during the forecast period.
While Asia-Pacific expected to accounted for the highest CAGR in the global market owing to the presence of dense population countries such as India, China, South Korea, Malaysia, and Indonesia as well as low manufacturing cost and increasing average individual disposable income further enhances the demand for medical carts and workstations in the region over the forecast period. Company Profiles and Competitive Intelligence: The major players operating in the global medical carts and workstations market are AFC Industries, Ergotron, Inc., Enovate Medical, JACO, Inc., Advantech Co., Ltd, Harloff Manufacturing Co., Medline Industries, Inc., Hergo Ergonomic Support Systems, Inc., Midmark Corporation, and Performance Health among others.

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Ozone Market Reports is committed towards delivering intensive research based analysis reports, enabling clients to easily make fact-based decisions. We also have with us the facility of our innovatively designed and developed data processing and analysis division.

Ozone Market Reports is a research-based consulting firm specializing in getting research inputs and using them appropriately in the marketing planning process. In saying this, we are trying to convey that we always attempt to interpret the research data from the viewpoint of recommending action priorities - both short-term and long-term. To this end, we have put together a team that understands not only research techniques, but also branding concepts in depth. We believe our people are our clients' biggest assets hence we do our best to recruit multi-skilled individuals, and then give them an environment where they can think and ideate freely.

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