Global Medical Carts and Workstations Market Growing at A CAGR 14.9% From 2019 To 2026
The global medical
carts and workstations market was valued at USD 1,648.2 million in 2018 and is expected
to reach USD 4,912.6 million in 2026, growing at a CAGR 14.9% from 2019 to
2026.
The medical carts and
workstations allow the user to easily access mobile electronic health records
from the point-of-care. The growing incidence of musculoskeletal injury (MSI)
and the growing adoption of electronic medical records (EMR) in hospitals are
key contributors to the market growth. In addition, increasing adoption of
mobile carts can be attributed to the availability of technologically advanced
products that offer better configuration, construction, options, and features
to meet the requirements of consumers. Considering the current scenario, the
increase in the need to help medical and surgical staff is primarily expected
to boost market growth in the coming years.
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Moreover, the increase
in government spending along with the increasing demand emergency vehicle
service are expected to further create the demand. The benefits on the surgical
floor, a secure tablet PC mobile medication cart coupled is more convenient
compared to separate medication and computer cart, as it primarily saves space
with the cost. However, the critical care units have limited floor space to
provide the benefit from such solutions. This results in expand the demand for
medical carts and workstations in the global market. However, the high price
for the cost and continuous need of maintenance are expected slow-down the
market growth of the medical carts and workstations during the forecast period.
The mobile computing
carts product segment dominate the market throughout the forecast periodBased
on the product type, the medical carts and workstations market has been
segmented into mobile computing carts, wall-mounted workstations, medication
carts, medical storage columns, cabinets & accessories, and others. The
mobile computing carts segment accounted for the largest share of more than 40%
in terms of volume in the global medical carts and workstations market in 2018
owing to high adoption by hospitals. The increase in innovation and
technological advancements such as changing ergonomics and advanced designs for
mobile medical carts are expected to propel the demand in the global market.
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The medication carts
expected to register for the highest CAGR of in the global medical carts and
workstations market over the forecast period. Based on the application, the
hospital segment is expected to dominate over the forecast period Based on the
application, the market has been segmented into hospital, ambulatory surgical
center, physician offices or clinic, and others. The hospital segment accounts
of the largest share in the market and expected to register a CAGR of 15.8% during
the period of 2019-2026. The growth of the hospital segment depends on the
rapid growth in the investment and government spending for the development and
evaluation of a developed healthcare system. Moreover, the rapid increase in
urbanization and industrialization across developing countries are further
expected create opportunities to expand the adoption of medical carts and
workstations in the market and further enhance the market size over the
forecast period.
North America to
dominate the medical carts and workstations market throughout the forecast
period North America accounted for more than 40% market share of the global
medical carts and workstations market in 2018 and is expected to dominate the
market throughout the forecast period. The region dominated the market owing to
the advanced healthcare industry with higher healthcare spending from the
government officials, higher acceptance of advanced technologies, higher life
expectancy, and increased adoption of electronic medication administration
record systems.
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This expected to
increase the demand for medical carts and workstations in the domestic market.
Considering the current scenario, the growth in the favorable government
initiatives and incentive schemes to enhance patient safety with increase
healthcare workflows, easy accessibility to medical carts & workstations
with the developed healthcare system, and presence of many leading medical
players in the region are further expected to boost the demand during the
forecast period.
While Asia-Pacific
expected to accounted for the highest CAGR in the global market owing to the
presence of dense population countries such as India, China, South Korea,
Malaysia, and Indonesia as well as low manufacturing cost and increasing
average individual disposable income further enhances the demand for medical
carts and workstations in the region over the forecast period. Company Profiles
and Competitive Intelligence: The major players operating in the global medical
carts and workstations market are AFC Industries, Ergotron, Inc., Enovate
Medical, JACO, Inc., Advantech Co., Ltd, Harloff Manufacturing Co., Medline
Industries, Inc., Hergo Ergonomic Support Systems, Inc., Midmark Corporation,
and Performance Health among others.
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