New utility functions such as the universal mounting accessory function and dual pull-out workout shelves almost double the utility of the emergency carts. Moreover, significant investments on such equipment is encouraged by medical practitioners and caregivers due to the growth in number of emergency cases and the surge in the need for emergency medical carts.
A medical cart or trolley is a wheeled cabinet with drawers and trays that is used in various medical, surgical, and therapeutic modalities in hospital and clinical settings to keep drugs, tools, equipment, and medical devices for the stipulated treatment. The Asia-Pacific medical carts market is divided into four types -anesthesia carts, emergency carts, procedure carts, and other carts.
The Asia-Pacific medical carts market was valued at $224 million in 2015 and anticipated to reach $555 million by 2023, growing at a CAGR of 13.7%, according to Allied Market Research.
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China dominated the Asia-Pacific medical carts market in 2015, accounting for more than one-third market share, and is projected to continue this trend in the future. China generated the maximum revenue in 2015 and is projected to be the fastest growing country throughout the analysis period, at a CAGR of 16.4%. This is attributed to its high geriatric population that requires medical procedures and the rise in demand for medical carts required for this purpose. Besides, improvement in health care expenditure further supplements the sale of medical carts in China. However, Japan utilized 180 thousand unit carts in 2015 and is anticipated to be a lucrative market opportunity as the Japanese health care expenditure is anticipated to surge by an average of 3% during 2014-18.
Key Findings of the Asia-Pacific Medical Carts Market:
– In 2015, China dominated the overall medical carts market revenue, and is projected to grow at a highest CAGR of 16.4% during the forecast period, in terms of value and volume.
– Singapore is expected to grow at a remarkable CAGR of 14.2% in terms of value and 13.5% in terms of volume.
– Indonesia is projected to grow at a CAGR of 13.4% in terms of value, during the analysis period.
– Emergency carts segment accounts for about half of the Asia-Pacific medical carts market share in terms of value and three-seventh of share in terms of volume.
– In terms of value, procedure carts is anticipated to grow at the fastest rate of 14.4% from 2016-2022.
The market is evaluated based on its regional penetration, explaining the performance of the market in each regional market covering provinces such as North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Top 10 leading companies in the global Medical Carts market are analyzed in the report along with their business overview, operations, financial analysis, SWOT profile and Medical Carts products and services. The key players operating in the global Medical Carts industry include Omnicell, Inc., Hanlim Medical Equipment Co., Ltd., Ruilang Medical Equipment Co., Ltd, Capsa Solutions LLC, Chang Gung Medical Technology Co., Ltd, ITD Medical Technology Products Co., Ltd., Lifemedic Healthcare Supplies Pte Ltd, Midmark Corporation, Nortek, Inc., Zhangjiagang Medi Medical Equipment Co., Ltd.
Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
Highlights of the Report:
• Competitive landscape of the Medical Carts Market.
• Revenue generated by each segment of the Medical Carts market by 2027.
• Factors expected to drive and create new opportunities in the Medical Carts industry.
• Strategies to gain sustainable growth of the market.
• Region that would create lucrative business opportunities during the forecast period.
• Top impacting factors of the Medical Carts market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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