March 4, 2024

The global Medical Carts Market is estimated to Propelled by growing adoption of Electronic Health Records (EHR)

Medical carts are mobile computing devices and storage units designed for healthcare professionals to access and document critical patient information at the point-of-care. Medical carts provide secure storage of medical supplies and equipment while incorporating computing functions through integrated computers or mobile workstations to enable access to electronic health records (EHR), images and test results. The increasing adoption of EHR across healthcare facilities is driving the need for medical carts to facilitate digital documentation of patient information during rounds.

The global Medical Carts Market is estimated to be valued at US$ 3,479.2 Mn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The adoption of EHR has been on the rise globally to improve operational efficiency in healthcare facilities through digitization of clinical workflows. According to Healthcare Information and Management Systems Society, over 95% of hospitals in the US had adopted basic EHR systems by 2021. This rise in EHR adoption is fueling the demand for medical carts that can enable clinicians to access digital patient files during rounds using integrated computers. Various medical cart models are being introduced with larger display screens, enhanced data connectivity and storage capacity to optimize usefulness of EHR at the point-of-care. Manufacturers are also focusing on product designs facilitating ease of navigation on medical carts for clinicians.

SWOT Analysis
Strength: Medical carts provide mobility and flexibility to transport medical supplies and equipment between patient rooms, procedure areas, and other locations in a healthcare facility conveniently. This improves workflow efficiency.
Weakness: Frequent movement and usage of medical carts can lead to wear and tear over time requiring repairs and maintenance. This increases operational costs.
Opportunity: Growing demand for telemedicine and remote patient monitoring is an opportunity for manufacturers to develop new smart and digitally integrated medical carts.
Threats: Strict regulatory standards and certification requirements for medical carts increase compliance costs for manufacturers that can impact profitability.

Key Takeaways
The global Medical Carts market is expected to witness high growth. The global Medical Carts Market is estimated to be valued at US$ 3,479.2 Mn in 2023 and is expected to exhibit a CAGR of 9.9% over the forecast period 2023 to 2030.

The North America region currently dominates the medical carts market due to advanced healthcare infrastructure and rising healthcare expenditure in the region. The Asia Pacific region is expected to grow at the fastest rate during the forecast period due to growing medical tourism, increasing healthcare spending, and improving healthcare facilities in developing economies like India and China.

Key players operating in the medical carts market are AFC Industries, Advantech Co., Ltd., Alphatron, Enovate Medical, Ergotron, Inc., Harloff Manufacturing Co., JACO, Inc., Medline Industries, Inc. AFC Industries and medline Industries are the market leaders due to their diverse product portfolio and global distribution network. The key players are focusing on new product launches and expanding their manufacturing facilities to strengthen their market position. For instance, Ergotron introduced new smart and connected medical carts with touchscreen control and telemedicine capabilities.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it