Market Scenario
Global Medical Carts Market is expected to grow significantly over the forecast period. The market held a market value of USD 1,100 million in 2017 and is projected to grow at a CAGR of 12.1% over the forecast period.
The growing acceptance of medical carts accustomed by its technical advances is one of the major trends witnessed in the global medical carts market over the forecast period.
According to world health organization, musculoskeletal conditions are the second largest contributor to disability globally. Musculoskeletal conditions include conditions that affect joints (psoriatic arthritis, gout, osteoarthritis, rheumatoid arthritis), bones (osteoporosis, osteopenia and associated fragility fractures), and muscles (sarcopenia).
Other key factors such significant investments in R&D and expansions undertaken by key players are contributing towards the growth of the market. However, challenges such as high cost of advanced medical carts in developing countries, is likely to curb the market growth during the forecast period.
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Segmentation
The global medical carts market is segmented based on product type, type, material type, and end-users.
The medical carts market, by product type, the market is segmented into mobile computing carts, medical storage columns, wall-mounted workstations, medication carts, and others.
Based on type, the market is segmented into computer medical cart, procedure cart, emergency cart, anaesthesia cart, and others.
Based on material type, the market is segmented into metal type, plastic type, and others.
Based on end-user, the market is segmented into hospitals and clinics, ambulatory surgical centres, and others.
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Regional Analysis
The Americas is the largest in the market owing to the improving research infrastructure in the region, coupled with the rising awareness among patients and physicians. It is currently exhibiting a highly lucrative growth rate due to an increased use of medical carts for various applications.
The European region is the second largest medical carts market over the forecast period due to high acceptance of medical carts in developing countries along with the rising incidence of chronic diseases are also accountable for the growth of the medical carts market.
The Asia Pacific region is likely to develop at the uppermost CAGR for the medical carts market in the years to come. Moreover, the rising patient safety at the hospitals and at community level are expected to influence the market in a positive way.
The Middle East and Africa accounts for the least market share due to low per capita income and lack of availability of well-trained healthcare professionals.
Key Players
Some of the key players in the global medical carts market are ITD GmbH (Germany), Advantech Co. (Taiwan) Ltd, Harloff Manufacturing Co. (US), AFC Industries (US), Chang Gung Medical Technology Co. (Taiwan), Omnicell Inc. (US), Midmark Corporation (US), The Bergmann Group (US), Capsa Healthcare (US), Jaco Inc (US), Waterloo Healthcare (US), Ergotron Inc (US) and others.
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