Global Medical Computer Carts Market Expected to Reach $1,078 Million by 2023
PORTLAND, Oregon and PUNE, India, March 13, 2018 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Medical Computer Carts Market by Type and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global medical computer carts market was valued at $355 million in 2016, and is projected to reach $1,078 million by 2023, growing at a CAGR of 17.3% from 2017 to 2023. In 2016, the ambulatory surgical centers segment accounted for about one-ninth share of the global market.
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Medical computer carts are devices utilized by the medical staff to check electronic health records and electronic medical records (EMRs), distribute drugs, and offer nursing education. These carts consist of features and workflow solutions to assist with daily tasks pertaining to patient safety and care. Increase in adoption of EMR systems & mobile carts and high requirement for mobile computer carts in critical surgical procedures are expected to supplement the market growth. However, the high cost of medical carts and low awareness regarding the potential benefits of these carts, especially in developing economies, may impede this growth. Conversely, surge in healthcare expenditure and increased set up of new specialized hospitals across the globe are expected to present profitable opportunities for market expansion.
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The integrated medical computer carts segment was the highest contributor in the market in 2016, as they are integrated with vivid touch screens, high performance processors, and mountable packaging with antimicrobial coatings. This incorporation thus increases the efficiency and cost of medical computer carts. On the other hand, powered medical computer carts are expected to register a significant growth rate during the forecast period. This is attributed to their large-scale utilization across medical settings, as they utilize a battery and provide accurate as well as immediate patient data within the EMR.
The hospital segment dominated the global market, because the geriatric population most commonly prefers hospital treatments as all associated treatments can be performed under one roof. Moreover, of the highest number of surgical procedures is performed in hospitals, therefore driving the growth of the medical computer carts market.
KEY FINDINGS OF THE STUDY
- The clinics segment is expected to be the fastest growing segment during the forecast period, and it accounted for one-third share of the total market in 2016.
- In terms of value, the U.S. dominated the North American medical computer carts market in 2016 and is projected to grow at a CAGR of 15.8% from 2017 to 2023.
- Germany dominated the European medical computer carts market both in term of value and volume.
- China is expected to be the fastest growing country in the Asia-Pacific region in the future.
- In terms of volume, powered medical computer carts is growing at the fastest pace of CAGR 22.5% during the forecast period.
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Asia-Pacific is expected to witness highest growth rate and is expected to continue this trend throughout the forecast period. This is attributed to high population density and rise in chronic diseases as well as infectious ailments across the highly populous countries such as India and China. For instance, the number of annual deaths accounted for 56 million individuals in 2015, and 70% of the global deaths in 2015 were due to incidence of non-communicable diseases such as Alzheimer's, ischemic heart disease, diabetes, chronic kidney disease, stroke, and other dementias.
The key players operating in the global medical computer carts market are Ergotron, Inc., Capsa Solutions LLC, Enovate Medical, InterMetro (Emerson), Parity Medical, ITD GmBH, Advantech Co., Ltd, Compucaddy, Bytec Medical and Villard. Other players operating in the value chain are Lund Industries, Cura (First Healthcare), AFC Industries, Modern Solid Industrial, Nanjing Tianao, Rubbermaid, Higrade, Spark Medical, and Humanscale.
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SOURCE Allied Market Research