Medical Carts Market to Reach $4.7 Billion by 2030 at 13.0% CAGR: Allied Market Research
Increase in focus on improving nursing efficiency, growth in emphasis on patient safety, and the rise in EHR adoption to prevent medication errors drive the growth of the global medical carts market.
PORTLAND, Ore., May 2, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Medical Carts Market by Type (Emergency carts, Procedure carts, Anesthesia carts, Other carts): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global medical carts industry was estimated at $1.4 billion in 2020, and is anticipated to hit $4.7 billion by 2030, registering a CAGR of 13.0% from 2021 to 2030.
Prime determinants of the market-
Increase in focus on improving nursing efficiency, growth in emphasis on patient safety, and the rise in EHR adoption to prevent medication errors drive the growth of the global medical carts market. Moreover, growth in healthcare expenditure and investments in the market have encouraged the manufacturers to develop cost-effective and customized medical carts in the developing countries, which in turn, has paved the way for lucrative opportunities in the industry.
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Covid-19 Scenario-
- Increase in usage of medical carts to handle the medications and its safety storage throughout the pandemic impacted the global medical carts market positively.
- This trend is most likely to continue post pandemic as well.
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The emergency carts segment to lead the trail-
By type, the emergency carts segment generated the highest share in 2020, holding nearly half of the global medical carts market, due to surge in adoption of emergency medical carts in hospitals. The procedure carts segment, on the other hand, is expected to cite the fastest CAGR of 13.5% from 2021 to 2030. Increase in application of procedure carts in the healthcare sector fuels the segment growth.
North America to dominate by 2030-
By region, North America contributed to the major market share in terms of revenue 2020, holding nearly two-fifths of the global medical carts market. This is attributed to rise in use of optical fibers in endoscopy, increase in number of approvals for medical carts, huge presence of key players, and surge in technological innovations in the healthcare sector in the province. The Asia-Pacific region, however, is projected to cite the fastest CAGR of 13.8% from 2021 to 2030, due to increase in number of musculoskeletal disorders.
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Prominent market players-
- Cardinal Scale
- Capsa Solutions LLC
- Lakeside Manufacturing
- Harloff Company
- The Bergmann Group
- Intermetro Industries Corporation
- ITD GmbH
- Merino Healthcare
- Armstrong Medical Inc.
- Midmark Corporation
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