Medical Carts Market Overview
Medical carts are defined as a trolley which is used to carry all the medical equipment while operating patients. It is a wheeled cart which holds cabinet with drawers and trays which are used for various procedures for instance medical, surgical, and therapeutic modalities. These carts are widely used by hospitals, clinics and others for keeping drugs, tools, equipment, and medical devices.
Market Size and Forecast
Global medical carts market is anticipated to flourish at a CAGR of 14.9% over the forecast period. Further, the market of medical carts is riding on the back of various factors such as growing healthcare industry along with rising demand for advanced medical carts to help medical and surgical staff.
On the basis of type, emergency medical carts segment accounted for the largest market of overall medical carts market. Further, emergency medical cart is expected to project a significant CAGR by the end of 2024. Moreover, hospitals by end-user segment accounted for the largest market share in 2016. Likely, hospitals are estimated to grow at a highest CAGR by the end of 2024 owing to the increased adoption of medical carts by hospitals.
Geographically, North America region accounted for the largest market of medical carts in terms of revenue in 2016. With 38.6% market share in 2016, North America captured the biggest market of medical carts. Further, North America is expected to continue its dominance over the forecast period owing to growing adoption of medical carts by hospital in order to provide ease to their staffs. Additionally, U.S. and Canada are the dominating countries of medical carts market in this region. Moreover, presence of major key players of medical carts in this region is also envisioned to bolster the growth of medical carts market.
Europe region captured the second largest market of medical carts in term of revenue 2016. Additionally, the growth of Europe region can be attributed to various factors such as growing adoption of advanced healthcare technology and rising expenditure on healthcare.
Asia-Pacific region is believed to be the fastest growing medical carts market by the end 2024. Japan and China are the dominating countries in this region owing to growing population affected with disease, rising GDP figures and increasing number of hospitals.CLICK TO DOWNLOAD FREE SAMPLE
Our in-depth analysis has segmented global medical carts market into the following segments:
- Procedure and Treatment
Global medical carts market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
Growth Drivers and Challenges
Increasing healthcare spending on advanced equipments in order to provide better medical facilities is believed to be the dynamic factor behind the rapid growth of medical carts market across the globe. Moreover, increasing prevalence of chronic diseases along with growing number of hospitals in developing nations have augmented the demand for medical carts for managing medical equipment, drugs, medical devices and others are projected to bolster the growth of medical carts market by the end of 2024.
Furthermore, strengthening GDP figure coupled with favorable government initiatives are also predicted to boost the demand for medical carts. Additionally, medical cart improve nursing efficiency and provide better healthcare facilities to patients which is projected to be the major factors propelling the growth of medical carts market.
However, high cost associated with the advanced medical carts is expected to hinder the growth of medical carts market over the forecast period.
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