The Future Landscape of $11.48 Billion Medical Crats and Workstations Market by 2029
Author : Pallavi Garudkar | Published On : 07 May 2024
Meticulous Research®, a premier authority in market research, has unveiled its latest report titled 'Medical Carts and Workstations Market by Product [Mobile Computer Carts (Telemedicine, Powered, Documentation), Specialized Carts (Anesthesia, Emergency), Medication Carts, Wall Arm, Medical Storage Cabinet] and End User - Global Forecast to 2029'. This comprehensive analysis forecasts remarkable growth for the medical carts and workstations market, estimating a robust CAGR of 14.2% from 2022 to 2029, reaching a staggering $11.48 billion by the end of the forecast period.
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The surge in demand for medical carts and workstations is propelled by the widespread adoption of Electronic Medical Records (EMR/EHR), the integration of IT solutions within healthcare settings, and the relentless pursuit of healthcare organizations to elevate patient care, ensure safety, and enhance staff productivity. Moreover, burgeoning markets in emerging economies coupled with advancements in ergonomic and cutting-edge designs for medical carts and workstations are fostering lucrative growth opportunities. However, challenges such as the high cost of equipment, scarcity of skilled professionals, and limitations in maneuverability pose hurdles to market expansion.
COVID-19 Pandemic Accelerates Adoption of Telemedicine Carts and Workstations
Amidst the COVID-19 pandemic, maintaining social distancing emerged as a critical preventive measure. Telehealth services emerged as a safe avenue for patients to access healthcare professionals, facilitating diagnoses and routine checkups remotely. Recognizing this paradigm shift, vendors have intensified efforts to supply telemedicine carts to healthcare facilities worldwide. Governments across developed and developing nations have implemented measures to promote telehealth services, exemplified by initiatives such as:
- In the U.S., The Federal Communications Commission (FCC) allocated $104.98 million through the COVID-19 Telehealth Program to facilitate telemedicine services.
- China's National Health Commission (NHC) and the National Healthcare Security Administration issued directives to encourage "Internet plus" healthcare services.
- Various nations including the Netherlands, Poland, Brazil, and South Africa have implemented policies to facilitate telemedicine services, reflecting a global paradigm shift towards remote healthcare delivery.
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These initiatives have spurred the adoption of telemedicine carts, exerting a positive influence on the growth trajectory of the medical carts and workstations market.
Future Outlook: Expansive Growth Opportunities
The Meticulous Research® report presents a comprehensive analysis of the medical carts and workstations market, encompassing historical data from 2020 and 2021, current estimates for 2022, and projections up to 2029. The study meticulously evaluates market dynamics across product segments, including mobile computing carts and workstations, specialty medical carts and workstations, wall mount workstations, conventional medication carts, and medical storage solutions, among others. Additionally, the report delves into end-user segments such as hospitals, long-term care facilities, physician offices/clinics, and other healthcare establishments.
Notably, the mobile computing carts and workstations segment is anticipated to dominate the market landscape in 2022, fueled by the escalating adoption of advanced technologies to bolster patient safety and streamline healthcare workflows. Furthermore, hospitals are poised to emerge as the largest end-user segment, propelled by increased infrastructure spending, rising emergency admissions, and a growing emphasis on patient-centric care.
Key Players
The medical carts and workstations market boasts a roster of industry stalwarts including Midmark Corporation, Capsa Healthcare, Bergmann Group, The Harloff Company, Ergotron, Inc., Altus Industries, Enovate Medical, ITD GmbH, AMD Global Telemedicine, Lakeside Manufacturing, HAT Collective, Parity Medical, GlobalMedia Group, JACO Inc., AFC Industries, Solaire Medical, Bytec Group Limited, Herman Miller, Inc., Omnicell, Inc., Modernsolid Industrial Co., Ltd., Medline Industries, LP., and InterMetro Industries Corporation.
