The most recent study conducted by Report Ocean, titled “Global Medical Carts Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Medical Carts. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Medical Carts Market to reach USD 6.17 billion by 2027.Global Medical Carts Market is valued approximately USD 2.39 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 14.5 % over the forecast period 2021-2027. Medical Carts is a lightweight and durable mobile cart which is commonly used in medical facilities for storing and transporting medications, emergency equipment’s, and medical supplies. Medical carts can include crash carts, respiratory carts, utility carts, housekeeping carts and isolation carts. There is rise in number of incidents which causes musculoskeletal injury which drives the market for medical carts.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
For Instance: U.S. Bureau of Labor Statistics, in 2020 employers reported 2.7 million back pain injuries. Furthermore, technological advancement in the medical carts is also driving growth for the market. Also, improvement in healthcare facilities, infrastructure and increased EMR electronic medical record rates at the hospital will rise the demand for medical carts market in the forecasted period. However, the rising health care expenditure and emerging countries with developed hospitals may implied the growth of the market over the forecast period of 2021-2027.
The key regions considered for the global Medical Carts market study includes Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the dominating region in medical carts market in the forecasted period. As there is high geriatric population in the region. Whereas, North America is expected to grow with highest growth rate over the forecast period 2021-2027. Factors such as increasing surgical cases would create lucrative growth prospects for the Medical Carts market across Asia-Pacific region.
Major market player included in this report are:
AFC Industries
ITD GmbH
Capsa Healthcare
Omnicell Inc.
Harloff Manufacturing company
Jaco Inc.
Humanscale
Midmark Corporation
Advantech Co., Ltd.
Bergmann Group
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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By Product:
Mobile Computing Carts
Medical Storage Columns
Cabinets and Accessories
Medication Carts
Wall-Mounted Workstations
Other
By Type:
Computer Medical Cart
Emergency Cart
Procedure Cart
Anesthesia Cart
Medical Laboratory Utility Cart
Others
By Application:
Medical
Medical Imaging
Laboratory
Others
By Material Type:
Plastic
Wood
Stainless Steel
Metal
Others
By Payload:
50 kg
65 kg
80 kg
150 kg
180 kg
Others
By End Users:
Hospitals
Clinics
Ambulatory Surgical Centers
Trauma Centers
Others
By Distribution Channel:
Direct Tender
Third Party Distributors
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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