The North America Medical Carts Industry has witnessed remarkable dynamics, with the Non-Powered (mechanical) energy source segment maintaining its leading position in terms of revenue in 2017 and poised to remain dominant throughout the forecast period. This segment is not only the frontrunner but also exudes a high level of attractiveness, with an impressive attractiveness index of 1.2 over the forecast period.
In 2017, the Non-Powered (mechanical) segment accounted for just over 68% of the total revenue share in the North American medical carts market. However, there is an anticipated decline of 432 basis points in its market share by 2027. Nonetheless, the Non-Powered (mechanical) segment is projected to register a commendable Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period, culminating in a value exceeding US$ 1,100 Million by the end of 2027.
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Constructive Prospects for Future of North America’s Medical Carts Market
A lucrative opportunity for such prominent medical device manufacturers towards consolidating their presence in the medical carts market in North America is changing their product line in accordance with shift in technology. Mechanical medical carts are being gradually replaced by new and enhanced technologies such as powered medical devices with battery systems, locking drawers (with negative tilt to facilitate efficient stocking of medication), and automated medicine dispensing systems.
In addition to this, increased focus on acquisitions and collaboration among companies have helped them expand their clinical carts product portfolio and cater to the demand for efficient healthcare systems. This has boosted the need for more effective and advanced medical equipment, devices and procedures. Emerging players must keep in mind that acquisitions over the years have resulted in strengthening the positions of current market leaders.
Key Highlights of the Report follow,
- In 2017 and beyond, computer medical carts will remain in great demand, procuring close to 40% of the market’s overall revenues towards the end of 2027
- North America’s medical carts market is poised to witness dominance of metal as base material, revenues from which will reflect a CAGR of 12.1%
- Non-powered medical carts will also be top-sellers in the market, while revenues from sales of powered medical carts are anticipated to showcase 12.6% CAGR
- Hospitals will be the largest end-users of medical carts in North America
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There have been past incidences of safety issues with battery powered mobile medical carts.The United States Food and Drug Administration (FDA) has been receiving several complaints about incidents of hospital fires associated with batteries used in powered medical carts. In December 2016, the FDA issued a warning regarding the risks associated with battery powered medical carts to healthcare professionals and healthcare units.
Medical carts are regulated by the FDA under section 201(h) of the Food, Drug and Cosmetic Act. Commercially available battery powered medical carts include medication dispensing carts, emergency carts and others. Hazards associated with powered medical carts are likely to hamper the revenue growth of the Powered segment during the forecast period.
Key Segments:
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centres
- Diagnostic Centres
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEJ
- Japan
- MEA
By Material Type:
- Metal
- Plastic
- Wood
By Energy Source:
- Powered
- Non-Powered (Mechanical)
By Product Type:
- Emergency Carts
- Procedure/Treatment Carts
- Anaesthesia Carts
- Medical Computer Carts
- Others
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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