(MENAFN- GlobeNewsWire - Nasdaq) Continuous innovation in medical cart design and functionality, including integration of electronic medical records (EMR) systems, medication management software, and advanced security features, drives market growth by enhancing efficiency, accuracy, and patient safety.

New York, Feb. 07, 2024 (GLOBE NEWSWIRE) -- According to Market, the global Medical Carts Market size is forecasted to exceed USD 7.1 Billion by 2033, with a promising CAGR of 12.7% from 2024 to 2033.

Medical carts play a critical role in healthcare facilities by providing mobile storage and transport solutions for medical supplies, equipment, and medications. These carts enable healthcare professionals to efficiently organize and access essential items, enhancing workflow and patient care. With the onset of the COVID-19 pandemic, the demand for medical equipment, including medical carts, surged as healthcare facilities faced unprecedented challenges. Infection control protocols necessitated the adoption of new features and capabilities in medical carts to ensure compliance with stringent hygiene standards and to facilitate safe handling of supplies.

The pandemic underscored the importance of adaptable and hygienic storage solutions in healthcare settings, driving innovation and evolution in the design and functionality of medical carts to meet evolving needs and requirements. The medical cart market is driven by technology, constrained by costs and security, but poised for growth through innovation, expanding healthcare infrastructure, and evolving trends towards patient-centered care and infection control, alongside sustainability efforts.

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Key Takeaway:

• In the medical carts market, emergency carts emerge as the dominant type segment, witnessing the highest Compound Annual Growth Rate (CAGR) of 9.0% and capturing the largest market share of 30.7% in 2023.
• Designed to facilitate quick access to critical supplies and equipment in emergency care settings, emergency carts play a pivotal role in enhancing patient care outcomes. Among product segments, mobile computing carts lead with a significant market share of 58.1% , especially favored in clinical environments requiring frequent mobility.
• The metal segment prevails in material analysis, commanding a market share of 49.9% in 2023, attributed to the durability and strength of metal constructions.
• Hospitals represent the dominant end-user segment, accounting for 37.0% of the market share and experiencing a CAGR of 5.9% in 2023, with ambulatory surgical centers anticipated to witness the fastest growth due to the increasing demand for outpatient surgical procedures. These trends collectively underscore the pivotal role of medical carts in optimizing healthcare workflows and patient care delivery across various medical settings.
• Regionally, North America remained the top contributor to the market with a market share of 45.7% .

Factors affecting the growth of the Medical Carts Market:

• Medical carts are essential for efficient healthcare delivery, offering mobility and organization for equipment and patient information. Their demand is fueled by technological advancements like RFID tracking and telemedicine , improving workflow and patient care.
• Conversely, factors such as high costs, maintenance needs, and security concerns restrain market growth to a considerable extent.
• Opportunities arise from point-of-care testing and mobile technology integration, meeting the evolving needs of healthcare facilities. With expanding healthcare infrastructure globally, manufacturers have a chance to cater to a growing market. Patient-centered designs enhance satisfaction and differentiate products.
• Trending factors include the integration of EMRs, barcode scanning, RFID tracking, and telemedicine. Lightweight, mobile carts meet the demand for decentralized care. Antimicrobial materials and sustainability measures address infection control and environmental concerns.

Top Trends in the Global Medical Carts Market:

• The medical carts market is witnessing several trending factors that reflect the evolving needs and priorities of healthcare facilities worldwide. Firstly, the integration of electronic medical records (EMRs), barcode scanning, RFID tracking, and telemedicine capabilities into medical carts is becoming increasingly prevalent. These technologies not only enhance workflow efficiency but also improve patient care and safety by providing quick access to vital information and resources.
• Moreover, there is a growing demand for lightweight and mobile medical carts that can facilitate decentralized care and be easily transported within healthcare facilities. As infection prevention and control remain paramount in healthcare settings, there is a notable trend towards incorporating antimicrobial materials and touchless controls in medical cart designs to minimize the spread of infections.
• Furthermore, sustainability is emerging as a key consideration in medical cart manufacturing, with an emphasis on eco-friendly materials, longer product lifecycles, and recycling initiatives. This reflects a broader industry focus on environmental responsibility and resource conservation. By aligning with these trending factors, medical cart manufacturers can meet the evolving needs of healthcare providers while promoting efficiency, safety, and sustainability in patient care delivery.

Market Growth:

The medical carts market continues to witness robust growth driven by several factors including the increasing demand for efficient healthcare delivery systems, rising investments in healthcare infrastructure, and technological advancements in medical cart designs. As healthcare facilities strive for greater efficiency and patient-centric care, the demand for innovative medical carts equipped with features such as mobile computing, RFID tracking, and antimicrobial materials is on the rise.

Moreover, the expanding geriatric population, coupled with the prevalence of chronic diseases, further fuels the demand for medical carts globally. With the ongoing emphasis on infection control measures and the need for streamlined workflows in healthcare settings, the medical carts market is poised for sustained growth in the foreseeable future.

Macroeconomic Factors:

Several macroeconomic factors influence the medical carts market dynamics . Economic growth and stability play a significant role as they impact healthcare spending and infrastructure development, ultimately affecting the demand for medical carts. Government healthcare policies, regulations, and reimbursement frameworks also shape market dynamics by influencing healthcare facility investments and purchasing decisions. Additionally, demographic trends such as population aging contribute to increased healthcare needs and drive demand for medical carts. Technological advancements and innovations in healthcare systems further influence market trends, as facilities seek to adopt efficient and advanced solutions to enhance patient care and operational efficiency.

Finally, global events like pandemics can disrupt supply chains and healthcare delivery systems, leading to fluctuations in market dynamics and demand for medical carts.

Regional Analysis:

North America emerges as the frontrunner in the global medical carts market, capturing the highest revenue share of 45.7% in 2023, with the United States spearheading contributions to this dominance. This regional supremacy is underpinned by a robust healthcare infrastructure, substantial healthcare expenditure, and notable technological advancements within the healthcare sector. The region is experiencing a notable uptick in the adoption of mobile carts and technologically advanced carts, aligning with the evolving needs of healthcare facilities.

Meanwhile, Europe emerges as the fastest-growing region in the forecasted period for the medical carts market. Positioned as the second-largest market globally, Europe's growth trajectory is fuelled by escalating healthcare expenditure, a burgeoning geriatric population, and an uptick in chronic diseases. Stringent regulations governing medical devices within the European Union (EU) further contribute to the region's growth dynamics, mandating manufacturers to adhere to rigorous compliance standards before commercializing their products in the European market.

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Scope of the Report

Report Attributes	Details
Market Value (2023)	USD 2.1 Billion
Forecast Revenue 2033	USD 7.1 Billion
CAGR (2024 to 2033)	12.7%
North America Revenue Share	45.7%
Base Year	2023
Historic Period	2018 to 2022
Forecast Year	2024 to 2033

Market Drivers:

The medical carts market is being propelled by several key drivers. Firstly, healthcare solutions are increasingly relying on mobile and efficient systems to manage medical equipment and patient data at the point of care, spurring the demand for medical carts across hospitals, clinics, and other healthcare facilities. Secondly, advancements in technology, including RFID tracking, EMRs, and telemedicine capabilities integrated into medical carts, are enhancing workflow efficiency and patient care, further driving market growth.

Moreover, the aging population, requiring more healthcare services, finds medical carts to be a convenient solution, especially for elderly patients with mobility issues or those needing frequent medication administration. Finally, the global increase in healthcare expenditures is prompting healthcare providers to seek cost-effective solutions like medical carts to improve efficiency and reduce resource consumption, further fueling market expansion.

Market Restraints:

Several factors restrain the growth of the medical carts market. Firstly, the high costs associated with advanced technology and customization options pose a significant barrier for smaller healthcare facilities with limited budgets. Additionally, the required regular maintenance and repair of medical carts can be time-consuming and costly, contributing to the total cost of ownership for healthcare facilities.

Security concerns also present a challenge for the adoption of medical carts, as they often contain sensitive patient information and expensive medical equipment, making them susceptible to theft and unauthorized access. This vulnerability can deter healthcare providers from fully embracing medical carts in certain settings, impacting market growth.

Furthermore, the absence of standard guidelines or regulations for medical carts results in inconsistencies in design and functionality, making it challenging for healthcare providers to compare and select the most suitable carts for their specific needs. These restraining factors collectively affect the adoption and proliferation of medical carts in healthcare settings.

Market Opportunities:

Several growth opportunities exist for medical cart manufacturers in the evolving healthcare landscape. Firstly, the integration of point-of-care testing capabilities into medical carts enables quick diagnostics and treatment at the point of care, enhancing efficiency and patient outcomes. Moreover, the rapid advancement of mobile technology presents opportunities for medical cart manufacturers to incorporate cutting-edge features and functionalities that improve workflow efficiency and patient care.

The expansion of healthcare facilities globally also creates significant opportunities for medical cart manufacturers, as new hospitals, clinics, and healthcare centers require mobile storage and transport solutions to support patient care and operational efficiency. Additionally, the growing emphasis on patient-centered care underscores the importance of designing medical carts with a focus on patient comfort and safety, presenting manufacturers with opportunities to differentiate their products and meet the evolving needs of healthcare providers and patients alike. By capitalizing on these opportunities, medical cart manufacturers can drive innovation and growth in the market while enhancing healthcare delivery and patient experiences.

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Report Segmentation of the Medical Carts Market:

Type Insight

Among the various segments in the medical carts market, the emergency carts segment emerges as the dominant force during the forecasted period. Emergency carts hold a significant market share, accounting for 30.7% of the total market share in 2023 and exhibiting the highest compound annual growth rate (CAGR) of 9.0%. These carts are strategically designed to provide swift access to critical supplies and equipment in emergency situations, primarily within intensive care units and emergency departments of healthcare facilities. Equipped with essential tools such as defibrillators, oxygen tanks, and medications, emergency carts play a pivotal role in ensuring timely and effective responses to medical emergencies.

The prominence of emergency carts underscores their indispensable role in healthcare settings, where quick access to life-saving resources can make a crucial difference in patient outcomes. As hospitals and healthcare facilities increasingly recognize the value of medical carts in streamlining equipment management and enhancing organizational efficiency, the market for medical carts continues to expand steadily. Within the type segment, procedure carts are poised for rapid growth, catering specifically to the needs of surgical and diagnostic procedures. With their versatile design featuring drawers and shelves for storing medical supplies and equipment, procedure carts offer tailored solutions to support procedural workflows in healthcare environments.

Product Insight

During the forecasted period, the mobile computing cart segment emerges as the dominant force in the medical carts market, holding the majority share. In 2023, this segment accounted for 58.1% of the total market share. Mobile computing carts are particularly invaluable in clinical settings where healthcare professionals require frequent mobility, such as hospitals, clinics, and long-term care facilities. These carts enable healthcare providers to access vital information and resources while on the move, enhancing efficiency and facilitating seamless patient care delivery.

Concurrently, the medical storage columns segment emerges as the fastest-growing segment in the forecasted period. Designed to offer additional storage space for medical supplies, medications, and equipment, medical storage columns are gaining traction among healthcare providers. Their compact design and efficient storage capacity make them a preferred choice, particularly in settings where space optimization is essential. As healthcare facilities prioritize organizational efficiency and resource management, the demand for medical storage columns is expected to surge, further driving growth in the medical carts market.

Material Insight

In 2023, the metal segment emerged as the dominant force in the material segment of the medical carts market, securing the highest revenue share. Accounting for 49.9% of the market share, the metal segment exhibited the highest compound annual growth rate (CAGR). Medical carts, primarily constructed with metal materials like stainless steel, aluminum, or steel alloys, are revered for their durability, strength, and resilience to wear and tear, making them a preferred choice in healthcare settings where carts endure frequent use and movement.

Conversely, the plastic segment is projected to witness significant growth in the forecasted period. Medical carts crafted from plastic materials such as high-density polyethylene (HDPE), polypropylene (PP), or acrylonitrile butadiene styrene (ABS) offer lightweight designs, easy maneuverability, and minimal maintenance requirements. These attributes render plastic medical carts a favored option in healthcare settings where mobility and efficiency are paramount. As healthcare facilities prioritize ease of use, durability, and cost-effectiveness, the demand for plastic medical carts is expected to surge, propelling growth in the material segment of the medical carts market.

End-User Insight

In the medical carts market, the hospital segment emerges as the dominant force, securing the highest revenue share and accounting for 37.0% of the market share in 2023. Hospitals stand as the primary end-user group for medical carts, necessitating a diverse range of cart types to fulfill their varied requirements. Medical carts utilized in hospitals are meticulously designed to offer a centralized solution for storing and transporting medical supplies, equipment, and medications, thereby enhancing workflow efficiency and patient care within healthcare facilities.

Conversely, the ambulatory surgical centers segment is anticipated to witness the most rapid growth among end-user segments in the medical carts market. These centers specialize in providing outpatient surgical procedures to patients who do not necessitate hospitalization, offering a spectrum of surgical services from minor to complex procedures. As the demand for outpatient surgical procedures continues to rise, ambulatory surgical centers require specialized medical carts tailored to their unique needs, thereby fueling the growth of this segment within the medical carts market.

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Recent Development of the Medical Carts Market:

• In October 2023 , Ergotron, a prominent figure in ergonomic workflow solutions shaping healthcare and workspace environments worldwide, confirmed its acquisition of Enovate Medical. Enovate Medical specializes in crafting nurse-ready workstation solutions and services designed to enhance clinical workflows and enable real-time Electronic Health Record (EHR) charting at the point of care.
• In January 2024 , Alpha Lifecare, renowned for its innovative healthcare solutions, introduced Capsa's Avalo Medical Carts to its product lineup. This partnership marked a significant step forward in delivering top-tier solutions to healthcare facilities, ensuring streamlined operations and enhanced patient care.

Market Segmentation:

By Type

• Emergency Carts
• Procedure Carts
• Anesthesia Carts
• Other Carts

By Product

• Medical Storage Columns
• Wall-Mounted Workstations
• Mobile Computing Carts
• Medication Carts
• Other

By Material

• Metal
• Plastic
• Other

By End-User

• Hospitals
• Ambulatory Surgical Centers
• Diagnostic Centers
• Nursing Homes
• Homecare Settings
• Other End-User

By Geography

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Competitive Landscape:

The medical carts market is fiercely competitive, characterized by numerous key players vying for market supremacy. These players are diligently focused on innovating their product offerings to align with the evolving requirements of healthcare providers. Specifically, there's a pronounced emphasis on developing mobile, lightweight carts, and those integrated with advanced technology features. Ergotron emerges as a prominent contender in the medical carts market, wielding a substantial share, particularly in North America and Europe. Renowned for its diverse portfolio, Ergotron delivers a spectrum of medical carts tailored to various healthcare environments, ranging from hospitals and clinics to long-term care facilities.

Market Key Players:

• Ergotron, Inc.
• ITD GmbH
• Capsa Healthcare
• Harloff Company
• Waterloo Healthcare
• Midmark Corporation
• AFC Industries, Inc.
• Jaco, Inc.
• Alimed, Inc.
• Advantech Co. Ltd.
• Other Key Players

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