Medical Carts Market Size, Share and Development 2014 – 2024
The global medical carts market is projected to witness significant growth during the forecast period; owing to the increasing number of technological advancements, and rising focus on improving patient safety and nursing efficiency. In terms of product, the market is categorized into mobile computing carts, wall-mounted workstations, medication carts, and medical storage columns, cabinets, and accessories.
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On the basis of material, medical carts market is categorized into metal, plastic and others. Metals generally include stainless, mild steel, and aluminum, whereas other materials include wood and combination of metals and plastics. These carts use a variety and combination of materials in their manufacturing. Metal is the highly used material in the production, owing to its durability in the long run.
North America is expected to be the largest contributor to the global medical carts market in the coming years, owing to the increasing patient base, increasing healthcare expenditure, and early adoption of latest technologies in the region. However, during the forecast period, the market in Asia-Pacific is expected to witness the highest growth and demand for these products. The major factors driving the market growth in the region are rapid economic growth, advancements in private and public hospitals, and rising healthcare reforms issued at various government levels including, state council and national health commission.
Developing regions have rapidly growing healthcare infrastructure and increasing expenditure, owing to which the manufacturers in the medical carts industry can easily invest in these regions and generate higher revenue. Moreover, there is a tendency for the healthcare institutions to purchase equipment in high-quantity, if they are provided at a low cost. As quoted by the India Brand Equity Foundation (IBEF), India’s healthcare industry is expected to increase three-fold by 2022. Moreover, the healthcare sector in India witnessed 23 deals worth $679 million in first quarter of 2018.
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