The global “medical carts” market size is projected to reach USD 1,512.8 million by 2026. The increasing investment in technological advances will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Medical Carts Market Size, Share & Industry Analysis, By Type (Anesthesia Carts, Emergency Carts, Procedure Carts, Telemedicine Carts and Others), By Material Type (Metal, Plastic, and Others), By End User (Hospitals, Physician Offices, Others) and Regional Forecast, 2019-2026,” the market was worth USD 661.6 million in 2018 and will exhibit a CAGR of 11.2% during the forecast period.
Medical carts are products that are lightweight in nature and are widely used across the healthcare industry. The product serves several purposes in hospitals and medical facilities. The ability of the product has allowed applications such as storage, transportation and carrier, and supplies. The increasing use of technologically advanced devices has constituted an increase in the overall market size in recent years. The use of electronic medical carts and features such as touchscreen displays and LCD panels have opened up a huge potential for the companies operating in the market. The presence of several large scale companies will contribute to the growth of the market in the coming years.
The report on medical cart market provides an in-depth analysis of the market and focuses on aspects such as growth drivers, restraints, leading products, and major industry developments. It discusses the competitive landscape of the market and labels out leading players. Additionally, it provides forecast values for the market for the period of 2019-2026. These values have been evaluated through extensive research methods and trusted sources from across the world.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Industry Developments:
May 2019: Capsa Healthcare announced the launch of ‘SlimCart™,’ an ultra-lightweight and compact cart that is primarily used to mobilize EHR in any healthcare setting.
Increasing Number of Product Launches Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of product launches has made a huge impact on the growth of the market. In September 2019 Altus Inc. announced the launch of a new clinician documentation system. The product was designed with additional features such as longer durability and faster operations. The company stated that the technology used in this product will significantly bring down the costs as well as reduce the errors associated with their use. Altus’ latest product will witness massive popularity in the coming years.
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North America Holds the Highest Market Share; Presence of Several Large Scale Companies Will Aid Growth
The report analyzes the ongoing medical carts market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, North America held the largest market share in 2018. The use of technologically sound devices will have a direct impact on the growth of the market in this region. As of 2018, the market in North America was worth USD 307.3 million and this value is projected to increase further in the coming years. Besides North America, the market in Asia Pacific will also witness considerable growth in the coming years owing to the improving healthcare infrastructure in several countries across this region.
A few of the other companies that are operating in the market include:
- Harloff Manufacturing Co.
- Ergotron, Inc.
- Advantech Co., Ltd.,
- ITD Gmbh
- AFC Industries
- Enovate Medical
- The Bergmann Group
- Jaco, Inc.,
- Medline Industries, Inc.,
- Performance Health
- Others
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