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The medical carts market has grown significantly, expected to rise from $2.39 billion in 2023 to $2.73 billion in 2024, with a compound annual growth rate (CAGR) of 14.6%. This growth has been fueled by the increasing adoption of electronic health records (EHR), a shift towards patient-centric care, hospital modernization efforts, evolving healthcare regulations, and an aging global population.
What Is the Future Market Size of the Global Medical Carts Market and Its Yearly Growth Rate?
The market is expected to expand significantly, reaching $4.75 billion by 2028 at a CAGR of 14.8%. Growth factors include a focus on green and sustainable designs, emergency preparedness, point-of-care testing, specialty care customization, and adherence to interoperability standards. Key trends during this period include IoT-enabled medical carts, AI-assisted healthcare solutions, sustainable and eco-friendly designs, AI-driven inventory management, and remote patient monitoring capabilities.
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What Are the Main Factors Driving Medical Carts Market Expansion?
The increasing adoption of electronic health records (EHR) is expected to accelerate the growth of the market. EHR systems are digital versions of patients' medical histories, enhancing accessibility and mobility for healthcare professionals through battery-powered medical carts. According to Health IT, by 2021, 88% of office-based physicians in the United States had adopted EHR systems, with 78% using certified EHR systems. This widespread adoption of EHR is driving demand for medical carts.
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Who Are the Main Competitors Driving the Medical Carts Market Forward?
Major companies operating in the 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.
How Are New Trends Transforming the Medical Carts Market Size?
Major companies operating in the medical carts market are increasing their focus on introducing mobile medical carts to gain a competitive edge in the market. A mobile medical cart is a portable, often wheeled, cart or trolley designed for use in healthcare settings. For instance, in August 2021, Ergotron, a US-based technology company, launched an updated version of its CareFit Pro Medical Cart designed to improve caregiver well-being and enhance the quality of care. The new CareFit Pro Medical Cart is designed to future-proof workflows, ensuring that it can adapt to changing healthcare needs and technologies. The updated design of the medical cart prioritizes caregiver well-being, enabling them to provide patient-centered care more effectively.
What Are the Key Segments Within the Global Medical Carts Market?
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
North America’s Role as the Foremost Player in the Medical Carts Market
North America was the largest region in the medical carts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Medical Carts Market Definition
A medical cart refers to typically portable equipment that is configured with drawers, colors, locking mechanisms, and other characteristics to help them store and organize materials and equipment used in various medical operations. The medical cart is used in hospitals to help medical professionals in transporting medical supplies by using trolleys.
The Medical Carts Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Medical Carts Market Report: Trends, Opportunities, Strategies, and More
The Medical Carts Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into medical carts market size, medical carts market drivers and trends, medical carts market major players, medical carts competitors' revenues, medical carts market positioning, and medical carts market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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