Medical Carts: Introduction
- Medical carts are an important component of hospital furniture infrastructure that are used to keep and carry all essential medical supplies near the patient
- Medical carts are designed to provide maximum storage capacity with safety, possess a durable and handy construction, and offer easy mobility
- Various types of medical carts are available, which are designed according to their applications in healthcare facilities. These are utilized in almost every department of healthcare facilities including surgical wards, Intensive care units, general wards, emergency and trauma wards, physicians’ clinics, and medical schools.
- Common types of medical carts are crash carts, bedside carts, IV carts, anesthesia carts, medication carts, procedure carts and isolation carts
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Medical Carts Market: Key Drivers
- Expansion of the medical carts market is estimated to be primarily driven by a significant rise in the number of hospitalizations owing to the high prevalence and rise in incidence rates of various chronic as well as acute disorders across the globe
- For instance, The Centers for Disease Control and Prevention (CDC) has estimated that by the mid of July 2020, there would be around 1000 to 15000 new COVID-19 hospitalizations per day in the U.S.
- Increase in the geriatric population, which is more prone to age-related disorders, is a prominent factor that is projected to boost the global market during the forecast period
- New product development, increased number of hospitals and healthcare facilities, and increased access to healthcare in developing countries are anticipated to drive the global market in the near future
- However, high cost of specialty carts is expected to restrain the global market
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Bedside Carts Segment to Dominate Global Market
- In terms of product, the global medical carts market can be classified into crash carts, medication carts, beside carts, point of care carts, anesthesia carts, IV carts, procedure carts and others. The bedside carts segment is projected to dominate the global market during the forecast period.
- As the name suggests, bedside carts are kept at the bedside of patients who are recovering from treatment and require routing checkup and follow-up procedures. These are one of the simplest form of medical carts comprising drawers and compartments to store medical documents, medicines, and other healthcare consumables that are required during routine procedures. Bedside carts are kept near every hospital bed and accounts for a large share of the market, in terms of volume, as compared to the other types of medical carts.
- Crash carts, also known as code carts, are used in Intensive care units and emergency wards. These are specially equipped to contain a variety of medical supplies such as sanitary supplies, medications, intubation supplies, defibrillators, and other life-saving equipment.
Hospitals to be Highly Attractive Segment
- Based on end-user, the global medical carts market can be bifurcated into hospitals, ambulatory surgery centers, specialty clinics, and others. The hospitals segment is expected to dominate the global market during the forecast period.
- Comparatively, a large number of hospitals, large number of hospitalizations due to various chronic as well as acute medical disorders, and an increase in number of new hospitals in emerging countries such as Brazil, Mexico, India, and China are attributed to the dominant share that is estimated to be held by the segment during the forecast period.
Asia Pacific Medical Carts Market to Expand Rapidly
- In terms of region, the global medical carts market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is likely to dominate the global market during the forecast period. Well-established healthcare infrastructure, high healthcare funding, rise in number of hospitalizations, and a large base of medical carts manufacturer are major factors that are projected to contribute to the region’s dominant share of the global market during the forecast period.
- The medical carts market in Asia Pacific is anticipated to expand at a prominent CAGR during the forecast period. Rapid expansion of the market in the region is attributed to an increase in number of hospitals and ambulatory surgery centers, improvement of health care infrastructure, and a rise in population with chronic disorders in China and India.
- Significantly of the healthcare industry, easy access to healthcare facilities, and an increase in investments in healthcare by leading players in Asia Pacific are expected to fuel the market in Asia Pacific
Key Players Operating in Global Medical Carts Market
- The global medical carts market is highly fragmented, owing to a large number of domestic players holding majority market share. Key players operating in the global carts market are:
- Patterson Pope
- Scott-Clark Medical
- Narang Medical Limited.
- AFC Industries
- Advantech Co., Ltd.
- Medline Industries, Inc.
- Enovate Medical
- Midmark Corporation
- Harloff Company Inc.
- Capsa Healthcare
Global Medical Carts Market: Research Scope
Global Medical Carts Market, by Product
- Crash Carts,
- Medication Carts
- Beside Carts
- Point of Care Carts
- Anesthesia carts
- IV carts
- Procedure carts
Global Medical Carts Market, by End-user
- Ambulatory Surgery Centers
- Specialty Clinics
Global Medical Carts Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
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10. What will be the barrier to entry for new players in the market?
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