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What Is the Forecast for the Medical Carts Market from 2024 to 2025?
Rapid expansion has been observed in the recent years in the medical carts market size. The market will witness an increase from $2.67 billion in 2024 to $3.03 billion in 2025, experiencing a compound annual growth rate (CAGR) of 13.8%. Factors contributing to the growth during the historic period include the adoption of electronic health records (ehr), the shift towards patient-centric care, modernization of hospitals, stringent healthcare regulations, and an aging population.
What Is the Projected Market Size of the Medical Carts Market?
Anticipated to experience swift expansion in the coming years, the medical carts market is projected to reach $5.45 billion by 2029, with a compound annual growth rate (CAGR) of 15.8%. Factors contributing to this growth during the forecast period include green and sustainable design, readiness for emergencies, point-of-care testing, and customization for specialized care along with adherence to interoperability standards. Notable trends expected to influence the market during this period include medical carts enabled by Internet of Things (IoT), assistance from artificial intelligence (AI) in care, sustainable and eco-friendly design, inventory management powered by AI, and remote monitoring of patients.
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Who are the Major Competitors in the Medical Carts Market Outlook?
Major companies operating in the medical carts market include ITD GmbH, Advantech Co. Ltd., Harloff Manufacturing Co. Inc., AFC Industries Inc., Midmark Corporation, Capsa Healthcare LLC, Bergmann Group GmbH & Co. KG, Onyx Healthcare Inc., InterMetro Industries Corporation Inc., Waterloo Healthcare Inc., Ergotron Inc., Jaco Inc., Enovate Medical LLC, TouchPoint Medical Inc., Merino International Group LLC, Lakeside Manufacturing Inc., BiHealthcare Inc., Scott-Clark Medical Inc., Medstor Systems USA LLC, Hergo Ergonomic Support Systems Inc., Cardinal Scale Manufacturing Company, Capsa Solutions LLC, Omnicell Inc., Mid Central Medical, Medline Industries LP, Altus Inc, Armstrong Medical Industries, Inc., Modern Medical Equipment Mfg. Ltd., Omnimed Inc., Pedigo Products Inc.
What Is Fueling Growth in the Medical Carts Market?
The growth of the medical cart market is expected to be driven by the increasing implementation of electronic health records (EHR), which is essentially a digital version of a patient’s medical history that is continually updated. Medical carts equipped with batteries are portable, aiding healthcare professionals in improving access to EHR. Citing data from Health IT, a U.S.-based entity that caters to all types of hospitals and healthcare networks, it is revealed that almost 9 out of 10 (88%) U.S. based office doctors had embraced some form of EHR while nearly 4 out of 5 (78%) had transitioned to a certified EHR in the year 2021. Thus, it can be concluded that the augmenting implementation of electronic health records (EHR) is boosting the expansion of the medical cart market.
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Which Medical Carts Market Segments Are Growing the Fastest?
The medical carts market covered in this report is segmented –
1) By Type: Anesthesia Carts, Emergency Carts, Procedure Carts, Telemedicine Cart, Other Type
2) By Material Type: Metal, Plastic, Others Type
3) By End User: Hospitals, Physician Offices, Other End User
Subsegments:
1) By Anesthesia Carts: Standard Anesthesia Carts, Mobile Anesthesia Carts, Anesthesia Workstations
2) By Emergency Carts: Crash Carts, Trauma Carts, Code Blue Carts
3) By Procedure Carts: Surgical Procedure Carts, Examination Carts, Treatment Carts
4) By Telemedicine Cart: Mobile Telemedicine Carts, Fixed Telemedicine Carts
5) By Other Type: Medication Carts, Supply Carts, Nursing Carts
Which Industry Trends Are Shaping the Future of the Medical Carts Market?
The rising trend of product innovation is becoming increasingly significant in the medical carts industry. Leading players in the market are introducing new products to solidify their market stance. For example, Ultralife Corporation, a company based in the United States specializing in the production and maintenance of power and communication systems, along with Karta, another US-based cart manufacturer, rolled out a new cart and power solution in March 2024. These advanced carts are capable of powering laptops, whole system units, and mini personal computers used in hospitals or other healthcare environments. The cart even features adjustable height capabilities and top-tier castor wheels for effortless maneuverability, in addition to a variety of customizable add-ons designed to accommodate various clinical procedures.
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Which Countries Are Leading the Medical Carts Market?
North America was the largest region in the medical carts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical carts market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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This Report Delivers Insight On:
1. How big is the medical carts market, and how is it changing globally?
2. Who are the major companies in the medical carts market, and how are they performing?
3. What are the key opportunities and risks in the medical carts market right now?
4. Which products or customer segments are growing the most in the medical carts market?
5. What factors are helping or slowing down the growth of the medical carts market?
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