Staff report
The global medical carts market size was valued at $2.61 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 16.9% from 2023 to 2030, according to a report from Grand View Research.
The rising prevalence of musculoskeletal injuries (MSI) and the growing implementation of electronic medical records (EMR) in hospitals are the primary factors driving market expansion, according to the report. According to the World Health Organization, musculoskeletal conditions affect approximately 1.71 billion people globally. Furthermore, the number of people with musculoskeletal problems is quickly increasing because of population growth and aging. Due to these factors, the demand for medical carts is set to rise in the near future.
The adoption of mobile carts is further increasing owing to continuously evolving technology that offers better configuration, construction, options and features that meet the requirements of consumers. For instance, in December 2021, Advantech, a prominent provider of medical computer systems and services, announced the addition of the AMiS-30EP pole cart to its AMiS product line. Depending on the application, this product can be supplied with a variety of monitors and devices. As a result of such technical breakthroughs, the market is expected to grow over the forecast period.
The COVID-19 pandemic had a significantly positive impact on the market. The unprecedented challenges posed by COVID-19 heightened the need for accessible, quality health care solutions, along with professional-grade medical carts that directly addressed critical needs. By implementing rapid measures, including the redeployment of resources to medical cart production as and when required, and responsive supply chain optimization, manufacturers adapted their operations throughout 2020 to ensure that their medical carts could reach customers faster. Such factors are expected to drive market growth.
Additionally, medical cart designs were modified in response to the global vaccine rollout, to cater to mobile COVID-19 vaccination distribution to suit mass vaccination sites that were set up in non-traditional spaces, such as car parks and stadiums, which is anticipated to spur the market growth. For instance, in February 2021, Ergotron and Ingram Micro announced a partnership to donate medical carts to help during the coronavirus outbreak. Moreover, in August 2020, Capsa Healthcare announced the launch of the new Trio mobile computing workstation. Capsa’s Trio point-of-care platform mobilizes electronic health records and supports efficient and precise drug management. As a result of these developments, the market is likely to expand in the near future.
The emergence of telemedicine/telehealth and advancements in medical carts is one of the key contributing factors to the growth of the medical cart market. These carts improve nursing efficiency and help in providing enhanced care to patients, which is expected to fuel their demand in the following years. Advancements in medical carts such as the availability of lightweight products with increased mobility and enhanced ergonomics are expected to boost the adoption of these products. Availability of handle and wheel mounts to the right and correct sizes of batteries help in increasing nursing staff safety.
The rise in awareness among health care professionals and the adoption of patient engagement solutions across the globe are key growth propellers for the medical carts sector. According to statistics mentioned in the Harvard Business Review, in the U.S. health care system, around $1.0 trillion is spent on health care delivery. According to these figures, preventable medical errors are the third leading cause of death in the U.S. Electronic Medical Records (EMR) can help in correcting these systemic errors.
An increase in emphasis on efficient care delivery and the adoption of healthcare IT solutions that assist in delivery are expected to boost market growth in the following years. Choosing an appropriate workstation that ensures patient safety is very important. Mobile computer carts offer various benefits such as flexibility and secure storage. Such associated advantages with the use of carts are anticipated to fuel market growth during the forecast period.
According to MarketsandMarkets, the global medical cabinetry market is projected to reach $11.7 billion by 2027 growing at a CAGR of 4.7 percent.
