The wheels are turning in the North America Medical Cart Market, and the future looks bright! A new projection indicates a significant surge, with the market value expected to reach a staggering USD 3.75 billion by 2034. This upswing represents a substantial jump from the current market valuation of USD 2.36 billion in 2024.
Fueling this growth is a robust Compound Annual Growth Rate (CAGR) of 4.7% anticipated over the next decade. This steady rise reflects the increasing need for efficient and mobile medical equipment within healthcare facilities.
This upward trajectory is a testament to the proactive measures undertaken by healthcare organizations and government bodies across North America. With a focused approach to meeting the evolving healthcare needs of the population, there has been a notable increase in healthcare expenditure. The substantial rise in spending has empowered healthcare organizations to augment their inventory of essential equipment and facilities, including medical carts.
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Market players are improving their market position by participating in conferences, coming into contract agreements, and partnering to gain hold of additional customers. These tactics are assisting companies to extend their geographic reach and access to services, products, or new types of customers.
An increase in healthcare providers is shifting to medical carts equipped with EMR systems to track medical data on the spot for a continued vision over the entire treatment progress. The use of advanced medical carts featuring touch panels to store and access data on EMR medical carts is expected to enhance the scope of medical carts in North America.
“Key players are constantly researching and developing innovative medical carts to meet the exacting demands of the healthcare industry in North America. Additionally, players are taking note of the emerging demand for medical carts in Canada and expanding their businesses there,” opines Sabyasachi Ghosh, Associate Vice President at Future Market Insights (FMI).
North America Medical Cart Market Key Takeaways:
- In the historical period, the market grew at a rate of 5.6% to attain a market share of US$ 3,582.60 million in 2023.
- The United States medical cart industry is predicted to expand at a CAGR of 5.2% through 2034.
- The Canada medical cart industry is anticipated to register a CAGR of 6.2% through 2034.
- Based on product type, the real-time locating system segment is projected to acquire a value share of 36.80% in 2024.
- Based on end users, the diagnostic center segment is anticipated to obtain a value share of 36.80% in 2024.
Key Tactics Employed by Players Operating in the North America Medical Cart Market:
The medical cart industry in North America is characterized as significantly fragmented. Market players are investing in activities like research and development to create more functional medical carts that meet the requirements of healthcare providers. Participants are also extending their product line to include carts for an extensive range of applications. Players are further introducing specialized medical carts under competitive price ranges to attract customers.
North America Medical Cart Market Key Developments:
- In December 2022, GCX Mounting Solutions, a leading provider of healthcare-focused mobility and mounting solutions, officially announced that it had acquired Jaco, Inc. The latter company specializes in branded point-of-care IT workstation solutions for healthcare markets, such as non-powered carts, powered carts, video-presentation carts, and wall arms. The acquisition is projected to be strengthened by the addition of Jaco’s battery-powered EVO Series mobile carts.
- In August 2021, Ergotron launched an updated CareFit Pro Medical Cart to enhance the well-being and quality of care of caregivers. The launch has incorporated customizable accessories and drawers to streamline workflow.
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North America Medical Cart Market Key Segments:
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centres
- Diagnostic Centres
- Others
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
By Country:
- The United States
- Canada
Author By:
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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