FMI Unveils North America’s Projected 11.2% CAGR in the North America medical carts market by 2027

The Non-powered (mechanical) energy source category asserted its revenue dominance in the North America medical carts market in 2017 and is poised to maintain this lead throughout the forecasted period. Notably, this non-powered segment boasts an exceptional attractiveness index of 1.2. In 2017, it commanded a substantial 68% share of the market’s revenue; however, it is expected to experience a 432 basis point decrease in market share by 2027. Anticipating a robust CAGR of 10.4%, the Non-powered (mechanical) segment is projected to surpass US$ 1,100 Million by the end of 2027.

In contrast, revenue from the Powered energy source segment is forecasted to surge 3.3 times its 2017 figure by 2027. This segment is set to generate an incremental $20 Million opportunity in 2018 compared to 2017, reaching over US$ 600 Million by 2027. The Powered segment, with a commendable attractiveness index of 0.8, is anticipated to be the second most financially rewarding segment in the North America medical carts market by energy source during the assessment period.

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America’s medical carts market.

The need for streamlining workflow has necessitated the integration of information technology (IT) solutions in healthcare settings. Medical carts manufactured by companies are presently serving the essential purpose of aiding nursing operations in medical facilities. The robust healthcare infrastructure in the US will demand the adoption of advanced medical carts that not only dispense medical instruments & supplies, but also have integrated IT systems. In the years to come, the demand for medical carts in North America will witness steadfast inclination towards IT-integrated medical carts.

Constructive Prospects for Future of North America’s Medical Carts Market

A lucrative opportunity for such prominent medical device manufacturers towards consolidating their presence in the medical carts market in North America is changing their product line in accordance with shift in technology. Mechanical medical carts are being gradually replaced by new and enhanced technologies such as powered medical devices with battery systems, locking drawers (with negative tilt to facilitate efficient stocking of medication), and automated medicine dispensing systems.

In addition to this, increased focus on acquisitions and collaboration among companies have helped them expand their clinical carts product portfolio and cater to the demand for efficient healthcare systems. This has boosted the need for more effective and advanced medical equipment, devices and procedures. Emerging players must keep in mind that acquisitions over the years have resulted in strengthening the positions of current market leaders.

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Key Highlights of the Report follow,

• In 2017 and beyond, computer medical carts will remain in great demand, procuring close to 40% of the market’s overall revenues towards the end of 2027
• North America’s medical carts market is poised to witness dominance of metal as base material, revenues from which will reflect a CAGR of 12.1%
• Non-powered medical carts will also be top-sellers in the market, while revenues from sales of powered medical carts are anticipated to showcase 12.6% CAGR
• Hospitals will be the largest end-users of medical carts in North America

 Key Segments:

By End User:

• Hospitals
• Clinics
• Ambulatory Surgical Centres
• Diagnostic Centres
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• MEA

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By Material Type:

• Metal
• Plastic
• Wood

By Energy Source:

• Powered
• Non-Powered (Mechanical)

By Product Type:

• Emergency Carts
• Procedure/Treatment Carts
• Anaesthesia Carts
• Medical Computer Carts
• Others

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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