Strategic Insights: Medical Carts Market Set to Reach US$ 2.34 Billion by 2032, Riding a 9.5% CAGR Wave | Reveals by FMI

Over the forecast period, the worldwide medical carts market demand is expected to rise at a 9.5% CAGR. The Medical Carts market is expected to be worth US$ 943.5 million by 2022. to surpass US$ 2.34 Bn by the end of 2032.

Medical Carts are a form of mobile medical equipment that aids in medical procedures by supplying medication and technology.  In today's world, Medical Carts have transformed the way hospitals handle and treat patients.

Medical professionals can use these carts to transport medical supplies and equipment from one patient's room to another in a safe and convenient manner. According to Future Market Insights, the worldwide Medical Carts market was worth around US$ 859.6 million in 2021.

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Medical Carts producers are focused on cutting-edge designs in response to rising demand for enhanced efficiency throughout hospitals. Product innovation and the expansion of hospitals and care centers will benefit the market.

Medical cart sales are predicted to increase as a result of advancements such as upgrading existing product lines, lighter designs, expanded battery capacity, and high versatility. Electronic health records and medical computer carts with built-in software will provide chances for Medical Carts industry participants.

Telemedicine carts have gained popularity as transportable patient care unit solutions as the focus on telehealth solutions has increased. These carts have the potential to improve patient care and safety while also increasing staff efficiency.

For example, Ergotron unveiled a cutting-edge update to their CareFit Pro Medical Carts in August 2021; it was built to grasp emerging workflows and prioritize healthcare professional well-being to drive patient-centered services.

"Rising needs for speed and ease of accessibility of the medical supplies, growing focus on patient safety, nursing efficiency and evolution of advanced technologies are expected to fuel growth in the Medical Carts market over the forecast period," says an FMI analyst.

Key Takeaways:

-Emergency carts are estimated to account for 25.5% of the market by the end of 2032, with sales increasing at an 8.3% CAGR during the forecast period.
-Steel is expected to have the largest market share of 47.7% in 2022 and will continue to dominate throughout the forecast period.
-Based on energy sources, the non-powered category held around 63.3% of the market share in 2021 and is predicted to hold 60.4% by 2032.
-In terms of end-users, hospitals are the market leader, with a CAGR of 4.8% projected in the future years.
-North America is slated to be the leading region with a value share of 36.7% in 2021 owing to a rise in the number of musculoskeletal injuries and technological advancement.

>Competition Landscape

Key players in the Medical Carts market are focusing on tapping market potential through adopting mergers & acquisitions strategies. Strategic partnerships, mergers and acquisitions, product-line expansions and updated product launches are the key approaches implemented by the manufacturers to expand their product range and consumer base in developing as well as developed countries. For instance:

-In February 2022, Capsa Healthcare acquired Humanscale Healthcare, which enabled Capsa offerings to the broadest product suite in the market and expanded its capacity to offer ergonomically personalized point-of-care computing solutions to healthcare associates worldwide.
-In September 2021, Ergotron signed an agreement with PT Murni Solusindo Nusantara as the official distributor in Indonesia. This collaboration is aimed at accelerating business transformation.

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>Key Players

-Alimed Inc.
-Advantech Co. Ltd.
-Cybernet Manufacturing, Inc.
-Highgrade Tech Co. Ltd.
-Cardinal/Detecto Scale
-Touchpoint Medical
-Others

>Key Market Segments Covered in Medical Carts Industry Research

>By Product Type:

-Emergency Carts
-Procedure Cart
-Anesthesia Cart
-Computer Medical Carts
-Specialty Carts
-Medication Carts
-Others

>By Material Type:

-Polymer
-Steel
-Aluminum

>By Energy Source:

-Powered
-Non-powered

>By End User:

-Hospitals
-Specialty Clinics
-Ambulatory Surgical Centers
-Diagnostic Centers
-Rehab Centers
-Nursing Homes
-Homecare Settings

>By Region:

-North America
-Latin America
-Europe
-South Asia
-East Asia
-Oceania
-The Middle East and Africa (MEA)

>Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.