In 2017, the non-powered (mechanical) energy source segment emerged as the reigning leader in the North America Medical Carts Industry, both in terms of revenue and overall attractiveness. This dominance is expected to persist throughout the forecast period. Holding an impressive 68% share of the market’s revenue in 2017, the non-powered (mechanical) segment is regarded as the most attractive, boasting an attractiveness index of 1.2 over the forecast period. However, a slight anticipated decline of 432 basis points in market share by 2027 is on the horizon, though this segment is forecasted to maintain strong growth with a 10.4% CAGR. By 2027, it is poised to reach a value of over US$1,100 Million.
Conversely, the powered segment by energy source is gaining substantial momentum. By 2027, it is expected to grow by a significant 3.3 times in comparison to its 2017 performance. In 2018 alone, the powered segment is set to generate an absolute opportunity exceeding US$20 Million compared to the previous year. Projections for 2027 show this segment reaching over US$600 Million, with a remarkable 12.6% CAGR during the forecast period. The powered segment, driven by its impressive growth, is anticipated to become the second most lucrative segment in the North American medical carts market by energy source, boasting an attractiveness index of 0.8 during the assessment period.”
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America’s medical carts market.
The need for streamlining workflow has necessitated the integration of information technology (IT) solutions in healthcare settings. Medical carts manufactured by companies are presently serving the essential purpose of aiding nursing operations in medical facilities. The robust healthcare infrastructure in the US will demand the adoption of advanced medical carts that not only dispense medical instruments & supplies but also have integrated IT systems. In the years to come, the demand for medical carts in North America will witness a steadfast inclination towards IT-integrated medical carts.
Constructive Prospects for the Future of North America’s Medical Carts Industry
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 through a 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 a 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 has 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.
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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 industry is poised to witness the 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 a 12.6% CAGR
- Hospitals will be the largest end-users of medical carts in North America
Key Segments:
By End User:
- Hospitals
- Clinics
- Ambulatory Surgical Centres
- Diagnostic Centres
- Others
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By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- APEX
- Japan
- META
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
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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