Press release
Medical Carts Market in Asia-Pacific Value to grasp $555 million by 2022 | Omnicell, Inc., Hanlim Medical Equipment Co.
Asia-Pacific Medical Carts Market
According to the report by Allied Market Research, the Asia-Pacific medical carts market is estimated to register a CAGR of 13.7% from 2014 to 2022. The research helps leading players and startups to devise new strategies based on current market trends and changing dynamics. Competitive landscape is mentioned in the report based on business segments, products portfolio, and strategic moves & developments of leading market players. Detailed segmentation assists in determining growing segments and determining further steps to capitalize on lucrative segments. Regional landscape is helpful in determining opportunities and driving factors of each region and taking further steps.
The increased focus on improving nursing efficiency, patient safety, and rise in adoption of electronic health record (EHR) to prevent medication errors drive the growth of the Asia-Pacific medical carts market. In addition, easy accessibility to critical medical supplies and the growing need to limit the high hospital costs, further stimulate the demand for medical carts. However, lack of skilled workforce, high cost, and maintenance of medical carts could restrict the market growth.
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In 2015, in terms of volume, the emergency carts segment accounted for over two-fifths share followed by procedure carts. 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.
The emergency carts are critical in providing utmost and immediate patient care even in adverse situations.
China dominated the Asia-Pacific medical carts market in 2015, accounting for more than one-third market share, and is projected to continue this trend in the future. China generated the maximum revenue in 2015 and is projected to be the fastest growing country throughout the analysis period, at a CAGR of 16.4%. This is attributed to its high geriatric population that requires medical procedures and the rise in demand for medical carts required for this purpose. Besides, improvement in health care expenditure further supplements the sale of medical carts in China.
However, Japan utilized 180 thousand unit carts in 2015 and is anticipated to be a lucrative market opportunity as the Japanese health care expenditure is anticipated to surge by an average of 3% during 2014-18.
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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 Major key players profiled Are:
• 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.
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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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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