New York, May 3, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of the report “Medical Carts Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https://www.reportlinker.com/p06272905/?utm_source=GNW
As there is a huge influx of patients all over the world, there is a huge need to reduce the spread of infection. Handheld diagnostics is one of the critical avenues for infection spreading tools to be taken care of. Therefore, the use of medical carts is likely to increase during the pandemic for safe administration of medication and other necessary needs for patients and healthcare professionals. In March 2020, Midwest Products & Engineering increased its production of medical carts to support patient care during the COVID-19 crisis.
The main factors attributing to the increased use of medical carts in recent years are an increase in the number of health facilities, an increased health burden necessitating technological progress and innovation, and an increase in patient care. In addition, the reduction in labor costs and the introduction of automation are likely to drive the growth of the medical car market throughout the forecast period. In January 2019, Extron Inc. introduced its new Versa medical electronics vehicle design platform. The versatile new wagon design platform offers more height options, surfaces, handle options, metal or plastic components, more doors, drawers and keyboard options, screen mounting solutions, built-in power supply, branding options, etc.
In addition to this, the growing geriatric population and the increasing burden of more chronic conditions leading to increasing hospital admissions are likely to drive market growth. According to data from World Population Prospects: The 2019 Revision published by the UN, the number of older people aged 65 or over is expected to more than double in 2050 globally and increase from 703 million in 2019 to 1.5 billion in 2050.
However, lack of qualified healthcare professionals and high start-up capital investments in bespoke medical carts and workstations are some of the factors expected to hamper market growth.
Important market trends
The Emergency Carts segment is expected to have the largest revenue share in the market
The segment with emergency vehicles is expected to account for the largest market share in the forecast period. This dominance is due to the presence of several emergency departments and their higher use in these units. These carts are equipped with medical equipment, supplies, or medications used in emergencies, such as ischemic stroke and severe injuries with heavy bleeding. According to the Urgent Care Association report, as of 2019, there were about 9,616 acute care centers across the United States, which was a marked increase from just over 6,000 centers back in 2013.
In addition, technological advances in the segment, such as weight loss, increased mobility and improved ergonomics, increased the preference for these medical carts and workstations among healthcare providers, which is likely to provide nourishment during the forecast period. In November 2020, Midwest Products & Engineering launched custom trolleys for medical devices called the MACH series, which are ideal for emergency departments due to their easy customization and configuration.
In addition, the recent COVID-19 pandemic has led to the increased demand for emergency medical carts at emergency facilities due to the large patient mass globally. In February 2020, Ergotron partnered with Ingram Micro China to donate emergency medical vehicles to two hospitals in Wuhan, China, to support the new coronavirus outbreak in the country.
North America dominates the market and it is expected to do the same in the forecast period
North America is expected to dominate the overall medical car market throughout the forecast period. According to American Hospital Association (AHA) statistics, the number of active hospitals in the United States increased from 5,534 in 2016 to 6,090 in 2019. According to the Canadian Institute for Health Information (CIHI) 2020 report, about 7,883 people per year. 100,000 inhabitants were hospitalized in Canada. A steep increase in the number of hospitals and increasing hospital admissions thus resulted in a greater demand for ambulances, which drove the market in the region.
In addition, a huge increase in the adoption of ambulances at health facilities across the country has been observed due to the high admissions of patients infected with COVID-19. In April 2020, Midwest Products & Engineering launched the Emergency Response Cart to address ventilator workflow issues related to the emergency treatment of COVID-19 patients.
In addition, the introduction of new products from leading manufacturers and an increase in government funding to increase healthcare facilities are expected to drive the growth of the medical car market in the region, contributing to its unique revenue share throughout the forecast period. In September 2019, Altus Inc., a leading manufacturer of mobile sit-to-stand workstations, launched a new powered workstation, ClioSwap 2.0. It is designed to last longer with improved battery life and patient care with reduced error by improving clinician documentation in electronic medical records (EMRs).
The market for medical trolleys is moderately competitive and consists of several major players. In terms of market share, few of the major players are focusing on developing new ways to improve quality by reducing errors and improving longevity. Prominent players are also focusing on new product launches with advanced HCIT infrastructure. They are committed to establishing a strategic alliance and collaborating with other companies operating in this market across the globe. It thus increases patient satisfaction and contributes to the growth of the market for medical carts throughout the forecast period. Some of the companies currently dominating the market are Advantech Co. Ltd, AFC Industries Inc., ITD GmbH, Capsa Healthcare and Jaco Inc.
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