Global Medical Cart Market - 2024-2031

Report Overview

The Global Medical Cart Market reached US$ 2.99 billion in 2023 and is expected to reach US$ 8.67 billion by 2031 growing with a CAGR of 14.2% during the forecast period 2024-2031.

Medical carts are portable, lightweight units intended for use in healthcare environments. They fulfill multiple functions, such as storing and transporting medications, emergency equipment, and medical supplies. Usually designed in rectangular or square shapes, these carts come with swivel caster wheels for effortless movement and often include designated compartments for organizing different medical items.

Medical carts are vital instruments in hospitals, clinics, and various healthcare environments. They significantly contribute to the efficiency of patient care by ensuring that healthcare professionals have prompt access to essential supplies, equipment, and information. By streamlining workflows and minimizing the time spent locating items, medical carts allow healthcare providers to concentrate more on direct patient care, thereby enhancing overall outcomes.

Market Dynamics: Drivers

Rising chronic diseases and technological advancements

The demand for the global medical carts market is driven by multiple factors. One of the primary factors is the rising chronic diseases and technological advancements. The increasing prevalence of chronic conditions such as diabetes, cardiovascular diseases, and respiratory illnesses is driving the demand for efficient healthcare solutions.

Medical carts are vital instruments in the effective management of chronic diseases within healthcare environments. They ensure rapid access to essential supplies, improve workflow efficiency, reduce the likelihood of medical errors, support telemedicine initiatives, and enable real-time patient monitoring. As the global prevalence of chronic conditions continues to rise, the demand for innovative medical cart solutions is expected to grow, further reinforcing their significance in enhancing patient care and outcomes.

Innovations in the design of medical carts, particularly through the integration of touch panel PCs, RFID technology, and cloud-based smart medical automation, are significantly enhancing their functionality. These advancements are expected to greatly influence the medical carts market by improving operational efficiency, minimizing errors, and optimizing inventory management.

Moreover, key players in the industry have innovative product launches are help to propel this market growth. For instance, in July 2022, Holo Industries introduced the HoloMed medical carts and patient monitors, which leverage innovative holographic technology to enhance patient safety and reduce the transmission of healthcare-associated infections (HAIs). This launch is particularly significant as it addresses the ongoing challenges of maintaining hygiene in healthcare environments.

Also, in August 2022, Tryten Technologies launched a new website and rebranded its products to present a cohesive line of evolving medical cart solutions. This rebranding includes renaming their product lines, with tablet and medical device carts now referred to as the Tryten S series, while carts for AV displays and mobile workstations are categorized as the Tryten X series. The new website provides detailed information about these series, emphasizing their focus on enhancing mobility and functionality in healthcare settings.

Restraints

Factors such as the high initial capital investment, lack of skilled healthcare professionals, and regulatory challenges are expected to hamper the market.

Market Segment Analysis

The global medical carts market is segmented based on product type, end-user, and region.

The mobile computing carts segment accounted for approximately 66.3% of the global medical carts market share

The mobile computing carts segment is expected to hold the largest market share over the forecast period. These carts are specifically designed to give healthcare professionals quick access to electronic health records (EHRs), allowing them to document and manage patient data directly at the point of care. They come with integrated computer systems and frequently include dual monitor setups, which enhance the visibility of diagnostic images and patient information.

Many of these carts are designed with dual monitor fittings, which offer healthcare professionals improved visibility of diagnostic images, test results, and patient information. This capability supports more informed decision-making and enhances the quality of patient care. Moreover, key players' strategies such as mergers & acquisitions and technological advancements in mobile computing carts are helping to drive this market growth.

For instance, in January 2023, Capsa Healthcare announced its acquisition of Tryten Technologies Inc. This company, located in Langley, British Columbia, specializes in designing and manufacturing lightweight, easily maneuverable mobile cart solutions. This acquisition marks Capsa's fifth since being acquired by Levine Leichtman Capital Partners, further enhancing its capabilities in the healthcare sector, particularly in supporting virtual care and improving patient engagement.

Also, in November 2022, DETECTO, recognized as the largest medical scale manufacturer in the U.S., launched its innovative MobileCare medical carts, which are designed to enhance healthcare delivery through advanced features and customization options. These carts come with three types of locking mechanisms: electronic (utilizing RFID technology with three frequency options and a full-color touchscreen pin code), quick release, and keyed locks. This variety allows healthcare facilities to choose the best security option that fits their operational needs.

Market Geographical Share

North America accounted for approximately 44.3% of the global medical carts market share

North America region is expected to hold the largest market share over the forecast period owing to the growing aging population & chronic diseases that are driving this market growth in this region. Moreover, in this region, a major number of key player's presence, well-advanced healthcare infrastructure, technological advancements, and product launches & approvals are driving this market growth.

For instance, in August 2024, Inspira Technologies Oxy BHN Ltd. announced that its INSPIRA CART has been officially listed by the FDA, marking an important milestone for the company. This medical cart is specifically designed to work in conjunction with the INSPIRA ART100 system, which is utilized during cardiopulmonary bypass procedures in operating rooms.

Also, in March 2024, in California, GCX announced the launch of its new GCX Tablet Roll Stand. This innovative cart is designed to provide safe and secure access to patient services and medical records throughout the hospital. The carts are easily maneuverable and feature a fixed or adjustable height tablet arm, allowing for optimal viewing and access to video conferencing, electronic medical records, and various patient services.

Market Segmentation

By Product Type

Mobile Computing Carts

Wall-Mounted Workstations

Emergency Carts

Procedure Carts

Anesthesia Carts

Medication Carts

Supply and Utility Carts

Others

By End-User

Hospitals

Specilaty Clinics

Ambulatory Surgical Centers

Others

By Region

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

France

Spain

Italy

Rest of Europe

South America

Brazil

Argentina

The rest of South America

Asia-Pacific

China

India

Japan

South Korea

Rest of Asia-Pacific

Middle East and Africa

Market Competitive Landscape

The major global players in the medical carts market include Advantech Co., Ltd, AFC Industries, Inc., Capsa Healthcare, The Harloff Company, Omnicell, Inc., Ergotron, Inc., ITD GmbH, Midmark Corporation, InterMetro Industries Corporation, and Medline Industries, LP. Among others.

Key Developments

In March 2024, Ultralife Corporation and Karta are set to launch a new medical cart and power solution at the HIMSS (Healthcare Information and Management Systems Society) conference, scheduled for the Orange County Convention Center in Orlando, Florida. This collaboration aims to provide healthcare professionals with an innovative solution that enhances mobility and efficiency in clinical settings.

In January 2024, Alpha Lifecare unveiled the Avalo Medical Carts, developed in collaboration with Capsa Healthcare. This launch represents a significant advancement in the design and functionality of medical carts, aimed at enhancing healthcare delivery.

Why Purchase the Report?

To visualize the global medical carts market segmentation based on product type, end-user, and region and understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel data sheet with numerous data points of the medical carts market with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping is available in Excel consisting of key products of all the major players.

The global medical carts market report would provide approximately 54 tables, 48 figures, and 183 pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies