U.S. Medical Carts Market to Exceed Valuation US$ 1.88 Bn by 2030

The U.S. Medical Carts market size was estimated at US$ 962.0 million in 2021 and is expected to hit US$ 1.88 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.8% from 2022 to 2030..

Increasing incidence of Musculoskeletal Injuries (MSI) among caregivers, growing demand for mobile computer carts in the critical surgical procedures, rapid increase in the volume of hospitals and urgent care centers, and growing admissions, and increase in adoption of the electronic medical records in hospitals are few factors driving the U.S. medical carts market growth. Moreover, the recent outbreak of COVID-19 has increased the demand of modern digitized medical carts in the country.

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Due to the high number of patients infected with COVID-19 admitted to healthcare facilities across the country, there has been a significant increase in the deployment of medical carts. This has triggered a sudden surge in the market for medical carts in the U.S., creating infinite prospects for market players. For instance, in April 2020 Midwest Products & Engineering introduced Emergency Response Cart to address ventilator workflow challenges associated with COVID-19 patients who require immediate treatment. Similarly, in March 2020, the firm ramped up its manufacturing of medical carts to assist patient care during the COVID-19 pandemic.

MSI is an injury or disorder of tendons, muscles, ligaments, nerves, joints, blood vessels, or soft tissue including a strain, sprain, & inflammation. It is the major cause of injury among workers in healthcare facilities. Inappropriate patient handling is responsible for MSIs among caregivers. The increasing prevalence of MSI is a key factor driving the market. For instance, according to WHO, about 1.71 billion people have musculoskeletal conditions globally. In addition, as per data published by the United States Bone and Joint Initiative; more than 124 million U.S. citizens over 18 years of age reported a musculoskeletal medical condition in 2015. Furthermore, 1 in 4 adults has doctor-diagnosed arthritis; by 2040, an estimated 78 million U.S. citizens are expected to have doctor-diagnosed arthritis.

Growing investments in healthcare by the government and private sector and the presence of key market players in the U.S. are key factors boosting the adoption of EMRs in hospitals. According to statistics published in CMS.gov, the U.S. healthcare expenditure increased by 4.6% in 2019, reaching USD 3.8 trillion per person, which accounted for a 17.7% share of the nation’s GDP. An increase in awareness among healthcare professionals and the adoption of patient engagement solutions in this country are key propellants for the medical carts market.

Report Scope of the U.S. Medical Carts Market

Medical errors are the 3rd leading cause of death, after heart disease and cancer. For instance, a Johns Hopkins study claims that above 250,000 people die annually from medical errors in the U.S. According to other research reports, the numbers are expected to be as high as 440,000. These estimates indicate that EMRs can help correct systemic errors. In 90% of healthcare facilities, digital medical records are becoming the standard, necessitating a substantial need for medical laptop carts on wheels.

Growing geriatric populations highly susceptible to chronic diseases are also expected to drive the market growth. As per World Population Prospects: The 2019 Revision published by the UN, the number of older people aged 65 years or above is expected to more than double by 2050 globally, increasing from 703 million in 2019 to 1.5 billion in 2050. Similarly, according to the U.S. Census Bureau, 2017 National Population Projections, by 2060, nearly 1 in 4 U.S. citizens is likely to be an older adult. The growing geriatric population and its associated burden of chronic conditions are propelling hospital admission rates. Under such conditions, medical carts can significantly improve the quality of service.

Growing clinical need to help nursing staff is expected to propel the market over the forecast period. Numerous injuries necessitate surgical correction, as there is an increase in musculoskeletal ailments. Nurses, doctors, and other medical experts can assess a patient's status and respond in real-time with emergency & nonemergency equipment in hand. Furthermore, most of these medical carts feature locking mechanisms to ensure that only experts have access to prescriptions and other equipment. As healthcare facilities employ more physicians and their support staff, they need a range of medical carts, comprising those used for: medical procedures, anesthesia, transporting equipment, surgery, data entry (features electronic equipment), and emergencies. A protected medication cart integrated with a tablet PC is more suitable than using separate medication and computer carts on the surgical floor while saving space and cost in medical facilities. As critical care units have limited floor space and require intense patient care, demand for medical carts is likely to increase over the forecast period.

Product Insights

In 2021, the mobile computing carts segment dominated the market and accounted for the largest revenue share of 62.6%. These carts are most commonly used by point-of-care facilities owing to associated benefits such as portability, requiring less space, and offering one-stop solutions for every clinical need of caregivers. This segment is anticipated to maintain its position during the forecast period. Primarily, mobile carts have been used as tools for point-of-care computer documentation. However, the expansion of technological applications of these carts, such as telemedicine and patient education and engagement, is expected to boost its adoption. This equipment facilitates the transfer of video conferencing tools to a patient’s bedside, which allows physicians to conduct examination remotely in case of unavailability of specialists at hospitals.

Whereas, the medication carts segment is expected to witness a CAGR of 14.6% from 2022 to 2030. Some of the advanced features offered by these carts include lock systems such as automatic relocking with keyless entry, keyless narcotic storage, cart user audit, and magstripe card access. The efficiency of nursing staff is enhanced with the use of these carts, as these carts have accessories designed for convenience. These include products ranging from writing surfaces and intravenous poles to mobile computing capabilities. In addition, companies offer reliable medical carts with streamlined medication administration and maximum control at point-of-care. Thus, in turn, is contributing to market growth.

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Type Insights

In 2021, the emergency carts segment dominated the market and accounted for the largest revenue share of more than 41.6%. This can be attributed to its higher usage in emergency care units. As the risk of infectious diseases is high in emergency care units, demand for these products is expected to increase in the coming years. These products help in controlling infection in intensive care units as they are anticorrosive and durable for a medical emergency. These carts are equipped with medical devices or drugs used in case of an emergency, such as cardiac arrest. Advancements in these products, such as mobile and lighter and ergonomic designs, are expected to boost their adoption over the forecast period Handle & wheel mounts that could be operated with small-sized batteries provide ease in handling and prevent any occupational hazards while operating/functioning.

Whereas, the procedure carts segment is expected to witness the highest CAGR of 12.1% from 2022 to 2030. The segment is expected to gain popularity in the coming years due to its consistent usage in many healthcare settings. These products are very helpful in operating procedures, such as cardiology and endoscopy, as well as provide access to essential therapeutics. There are various types of procedure carts, including portable, adjustable, and powered. They are sanitary and movable storage solutions that support surgical procedures in operating rooms. These carts help in reducing the risk of cross-contamination by eliminating dust during the storage of supplies and instruments in small spaces. Thus, the aforementioned factors are expected to drive the market.

End-use Insights

In 2021, the hospitals segment dominated the U.S. medical carts market and accounted for the largest revenue share of 39.9%. Hospitals are the largest end-users of clinical workstations. Their adoption is driven by technological advancements in medical mobile workstations. These advancements include the advent of adjustable, secure, and efficient systems for medication delivery. An increase in focus toward patient engagement and promotion of electronic health record incentives programs in hospitals encourage patient involvement and can be attributed to the growing share of this segment.

However, the physicians’ offices/ clinics/ office-based labs segment is expected to witness the highest CAGR of 13.2% during the forecast period. This can be attributed to an increase in awareness and demand for one-stop solutions that require less space & can be used for all medical requirements, as these carts include medicine, medical equipment, computer, and storage cabinets and are mobile. Hence, the rise in the adoption of mobile workstations by clinics is expected to propel segment growth.

Key Companies & Market Share Insights

The key market players are focusing on the launch of innovative types of medical devices, growth strategies, and technological advancements. For instance, in September 2018, the company launched a new Slim LCD Cart and CareFit Slim Laptop Cart. These medical carts are launched within the company's CareFit healthcare product line. These advancements are anticipated to boost market growth over the forecast period. Some of the prominent players in the U.S. medical carts market include:

• Medline Industries, Inc.
• Ergotron, Inc.
• The Harloff Company
• Waterloo Healthcare (Bergmann Group)
• AFC Industries, Inc.
• Capsa Healthcare
• Enovate Medical
• Jaco, Inc.
• Altus, Inc.
• Armstrong Medical, Inc.
• TouchPoint Medical
• Humanscale Healthcare

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

• By Product
  • Mobile Computing Carts
    • By Application
      • Medical Documentation
      • Medical Equipment
      • Medication Delivery
      • Telehealth Workstation
      • Others
    • By Energy Source
      • Powered
      • Non-powered
  • Wall Mounted Workstations
  • Medication Carts
  • Medical Storage Columns, Cabinets & Accessories
  • Others
• By Type
  • Anesthesia Carts
  • Emergency Carts
  • Procedure Carts
  • Others
• By End-use
  • Hospitals
  • Ambulatory Surgical Centers
  • Physician Offices/ Clinics/ Office Based Labs
  • Skilled Nursing Facilities
  • Others

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Key Questions Answered in U.S. Medical Carts Market Report

• What will be the sales/revenue generated by U.S. Medical Carts across all regions during the forecast period?
• What are the opportunities in the U.S. Medical Carts market?
• What are the major drivers, restraints, opportunities, and threats in the market?
• Which regional market is set to expand at the fastest CAGR during the forecast period?
• Which application is expected to generate the highest revenue U.S. in 2030?
• Which segment is projected to expand at the highest CAGR during the forecast period?
• What is the market position of different companies operating in the U.S. market?

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