Upsurge in use of electronic health record (EHR) and electronic medication administration record (eMAR) to avoid medical errors, rise in need for rapid & easy accessibility to medical supplies and equipment, and growth in focus on improvement of patient safety & nursing efficiency are the key factors that drive the market growth. Furthermore, development of advanced technologies, such as telemedicine, fuel the demand and application of medical carts. However, high costs of medical carts, limited availability of funds, and dearth of skilled professionals could impede the market growth. The global medical carts market accounted for $571 million in 2016, and is anticipated to reach at $1,302 million by 2023, registering a CAGR of 12.4% from 2017 to 2023.
The global medical carts market is segmented on the basis of type (by value and volume) and region (by value and volume). Based on type, it is classified into emergency, procedure, anesthesia, and other carts. The global medical carts market is divided based on region into North America, Europe, Asia-Pacific and LAMEA. North America accounted for the highest market share in the medical carts market in 2016, and is expected to maintain its dominance throughout the forecast period, owing to increase in demand for customized and sophisticated medical carts that fit the minimal hospital area and aids in improving nursing efficiency. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the improvement in healthcare facilities, available disposable income, and rapid development in the economic conditions.
KEY MARKET BENEFITS
The study provides an in-depth analysis of the global medical carts market and current trends and future estimations to elucidate the imminent investment pockets.
The report provides a quantitative analysis from 2016 to 2023 to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market, based on type, helps to understand the various types of medical carts used for different applications.
Competitive intelligence of key players highlight the business practices followed by them in the industry.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top contenders within the market framework.
Medical Carts Market Key Segments:
Rest of Europe
Rest of APAC
Rest of LAMEA
KEY PLAYERS PROFILED
InterMetro Industries Corporation (A Part of Ali Group)
Harloff Company (Harloff Manufacturing Co.)
Capsa Solutions LLC.
Medline Industries Inc.
The Bergmann Group
Life-Medic HealthCare Supplies Pte Ltd.
The other players in the value chain include (profiles not included in the report)
Herman Miller, Inc.
Zhangjiagang Bestran Technology Co. Ltd.
Tianjin Xuhua Medical Equipment Factory
Hua Shuo Plastic Co., Ltd.
Joson-Care Enterprise Co., Ltd.
Tonglu Rex Medical Instrument Co., Ltd.
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. REGULATORY FRAMEWORK
3.5. TOP PLAYER POSITIONING, 2016
3.6. MARKET DYNAMICS
220.127.116.11. Technological Advancements
18.104.22.168. Rapid expansion of healthcare industry and healthcare reforms in developing economies
22.214.171.124. Rise in focus on improving patient safety and nursing efficiency
126.96.36.199. High cost incurred for the maintenance of medical carts
188.8.131.52. Dearth of skilled professionals
184.108.40.206. Increasing funding and investment by government for improving healthcare services
CHAPTER 4 MEDICAL CARTS MARKET, BY TYPE
4.1.1. Market size and forecast
4.2. EMERGENCY CARTS
4.2.1. Key market trends
4.2.2. Growth factors and opportunities
4.2.3. Market size and forecast
4.3. PROCEDURE CARTS
4.3.1. Key market trends
4.3.2. Growth factors and opportunities
4.3.3. Market size and forecast
4.4. ANESTHESIA CARTS
4.4.1. Key market trends
4.4.2. Growth factors and opportunities
4.4.3. Market size and forecast
4.5. OTHER CARTS
4.5.1. Key market trends
4.5.2. Growth factors and opportunities
4.5.3. Market size and forecast
CHAPTER 5 MEDICAL CARTS MARKET, BY REGION
5.1.1. Market size and forecast
5.2. NORTH AMERICA
5.2.1. Key market trends
5.2.2. Key growth factors and opportunities
5.2.3. Market size and forecast
220.127.116.11. U.S. market size and forecast (Value and Volume)
18.104.22.168. Mexico market size and forecast (Value and Volume)
22.214.171.124. Canada market size and forecast (Value and Volume)
5.3.1. Key market trends
5.3.2. Key growth factors and opportunities
5.3.3. Market size and forecast
126.96.36.199. UK market size and forecast (Value and Volume)
188.8.131.52. France market size and forecast (Value and Volume)
184.108.40.206. Germany market size and forecast (Value and Volume)
220.127.116.11. Italy market size and forecast (Value and Volume)
18.104.22.168. Spain market size and forecast (Value and Volume)
22.214.171.124. Rest of Europe market size and forecast (Value and Volume)
5.4.1. Key market trends
5.4.2. Key growth factors and opportunities
5.4.3. Market size and forecast
126.96.36.199. India market size and forecast (Value and Volume)
188.8.131.52. Japan market size and forecast (Value and Volume)
184.108.40.206. China market size and forecast (Value and Volume)
220.127.116.11. South Korea market size and forecast (Value and Volume)
18.104.22.168. Indonesia market size and forecast (Value and Volume)
22.214.171.124. Rest of Asia-Pacific market size and forecast (Value and Volume)
5.5.1. Key market trends
5.5.2. Key growth factors and opportunities
5.5.3. Market size and forecast
126.96.36.199. Brazil market size and forecast (Value and Volume)
188.8.131.52. Turkey market size and forecast (Value and Volume)
184.108.40.206. South Africa market size and forecast (Value and Volume)
220.127.116.11. Saudi Arabia market size and forecast (Value and Volume)
18.104.22.168. Rest of LAMEA market size and forecast (Value and Volume)
CHAPTER 6 COMPANY PROFILES
6.1. INTERMETRO INDUSTRIES CORPORATION
6.1.1. Company overview
6.1.2. Company snapshot
6.1.3. Operating business segments
6.1.4. Business performance
6.1.5. Key strategic moves and developments
6.2. THE HARLOFF COMPANY, INC.
6.2.1. Company overview
6.2.2. Company snapshot
6.2.3. Operating business segments
6.2.4. Business performance
6.2.5. Key strategic moves and developments
6.3. ARMSTRONG MEDICAL INDUSTRIES INC.
6.3.1. Company overview
6.3.2. Company snapshot
6.3.3. Operating business segments
6.3.4. Business performance
6.3.5. Key strategic moves and developments
6.4. CAPSA SOLUTIONS LLC
6.4.1. Company overview
6.4.2. Company snapshot
6.4.3. Operating business segments
6.4.4. Business performance
6.4.5. Key strategic moves and developments
6.5. OMNICELL INC
6.5.1. Company overview
6.5.2. Company snapshot
6.5.3. Operating business segments
6.5.4. Business performance
6.5.5. Key strategic moves and developments
6.6. MEDLINE INDUSTRIES INC
6.6.1. Company overview
6.6.2. Company snapshot
6.6.3. Operating business segments
6.6.4. Business performance
6.6.5. Key strategic moves and developments
6.7. ITD GMBH
6.7.1. Company overview
6.7.2. Company snapshot
6.7.3. Operating business segments
6.7.4. Business performance
6.7.5. Key strategic moves and developments
6.8. MIDMARK CORPORATION
6.8.1. Company overview
6.8.2. Company snapshot
6.8.3. Operating business segments
6.8.4. Business performance
6.8.5. Key strategic moves and developments
6.9. THE BERGMANN GROUP
6.9.1. Company overview
6.9.2. Company snapshot
6.9.3. Operating business segments
6.9.4. Business performance
6.9.5. Key strategic moves and developments
6.10. LIFE-MEDIC HEALTHCARE SUPPLIES PTE LTD
6.10.1. Company overview
6.10.2. Company snapshot
6.10.3. Operating business segments
6.10.4. Business performance
6.10.5. Key strategic moves and developments
Medical cart/trolley is a mobile equipment, which consists of a set of shelves, trays, compartments, and drawers for hospital use and medical settings. It carries, dispense, and transport emergency drugs, medicines, medical devices, and medical instruments. Carts are a crucial aspect of medical aid as it provides storing, recording, and dispensing drugs, supplies, and patient information along with patient care. Many carts are designed to supply various surgical and emergency needs depending on the operating room and other medical settings.
The emergency carts segment is expected to dominate the Asia-Pacific medical carts market throughout the forecast period, both in terms of value and volume. China dominated the Asia-Pacific medical carts market in 2016, accounting for more than one-third market share in terms of value, and is projected to continue this trend in the future. In addition, growth in improvement of patient safety and nursing efficiency supplement the market growth. Further, advancement in technologies, such as telemedicine offer lucrative opportunities for the growth of this market. However, lack of skilled professionals, high cost of medical carts, and limited government funding restrain the market growth.
The emergency carts segment is anticipated to maintain its dominance, generating highest revenue throughout the forecast period, owing to the large-scale employment of emergency carts at the time of crisis. This is because emergency carts contain sophisticated devices, such as defibrillators, suction devices, advanced cardiac life support (ACLS), apart from drugs, such as atropine, dopamine and others. In addition, it also includes generic drugs to treat common problems, rapid sequence intubation, and pediatric equipment. However, procedure carts segment is growing at the highest CAGR of 13.0% from 2017 to 2023 in terms of value, as it consists many medical equipment that aid in operating procedures, such as endoscopy, cardiology and others and provides access to essential drugs at the same time.
Key Findings of the Medical Carts Market:
The procedure carts segment is anticipated to grow at the highest growth rate during the forecast period.
North America dominated the global medical carts market, accounting for maximum share of overall market in 2016.
Asia-Pacific is exhibited to grow at a higher growth rate of 13.5% during the forecast period in terms of value, owing to the high population base in countries, such as India and China.
The emergency cart segment dominated the overall market in 2016, growing at a CAGR of 12.3% in terms of value, from 2017 to 2023.
In terms of both value and volume, China accounted for the largest share in 2016, and is anticipated to maintain this trend throughout the forecast period in Asia-Pacific region.
UK is expected to grow at a remarkable CAGR of 13.8% in terms of value and 13.2% in terms of volume during the forecast period.
In terms of volume, procedure carts are anticipated to grow at the highest rate of 12.9% from 2017 to 2023.
Asia-Pacific has witnessed highest growth rate for medical carts during the forecast period, and is expected to continue this trend. This is attributed to increase in sizeable population, rise in incidence of diseases and injuries, healthcare infrastructural development, and huge market potential, owing to the arrival of new and robust carts by key players focusing on the emerging markets.
Key players operating in the medical carts market have adopted product launch as their key developmental strategy, and focus on launching innovative products to cater to the consumer requirements and strengthen their market share. The major companies profiled in the report include InterMetro Industries Corporation (A Part of Ali Group), Harloff Company (Harloff Manufacturing Co.), Armstrong Medical, Capsa Solutions LLC., Omnicell Inc., Medline Industries Inc., ITD GmbH, Midmark Corporation, The Bergmann Group, and Life-Medic HealthCare Supplies Pte Ltd.
The other key players in the value chain include Jegna, Herman Miller, Inc., Zhangjiagang Bestran Technology Co. Ltd., Merino International, BiHealthcare, Tianjin Xuhua Medical Equipment Factory, Medical Master, Hua Shuo Plastic Co., Ltd., Joson-Care Enterprise Co., Ltd., and Tonglu Rex Medical Instrument Co., Ltd.
- Intermetro Industries Corporation (A Part Of Ali Group)
- Harloff Company (Harloff Manufacturing Co.)
- Armstrong Medical
- Capsa Solutions Llc.
- Omnicell Inc.
- Medline Industries Inc.
- Itd Gmbh
- Midmark Corporation
- The Bergmann Group
- Life-Medic Healthcare Supplies Pte Ltd