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Meticulous Research®– leading market research company published a research report titled "Medical Carts and Workstations Market by Product [Mobile Computer Carts (Telemedicine, Powered, Documentation, Accessories), Medical Carts, Medication Carts, Wall Arms, Medical Storage Cabinets] and End User [Hospitals, LTC, Clinics]—Forecast to 2027."
According to this latest publication from Meticulous Research®, the medical carts and workstations market is expected to grow at a CAGR of 14.1% from 2020 to reach $8.77 billion by 2027. The increasing adoption of EMR/EHR, integration of IT solutions in the healthcare environment, and efforts to enhance patient care are major drivers for market growth. Also, huge untapped markets and the increasing adoption of changing ergonomics and advanced designs for carts/workstations are opportunities for market growth. However, factors such as the high cost of carts and workstations, lack of skilled professionals, and maneuverability of heavy workstations are challenges for the growth of the medical carts and workstations market.
Adoption of Telemedicine Carts/Workstations by Healthcare Facilities during the COVID-19 Pandemic to Boost the Medical Carts and Workstations Market
Social distancing is the most important measure for the prevention of COVID-19. Telehealth services were considered the safest way for people to reach out to their doctors. Diagnoses and routine checkups were easily carried out using telehealth services. Vendors in this market are, therefore, focused on providing telemedicine carts to healthcare facilities. Government organizations in developed and developing countries are taking initiatives to increase the adoption of telehealth services during the pandemic. For instance:
- In the U.S., till June 2020, The Federal Communications Commission (FCC) COVID-19 Telehealth Program, authorized by the CARES Act, approved funding of $104.98 million for 305 healthcare providers in 42 states plus Washington, D.C.
- On 3 March 2020, The National Health Commission (NHC) and the National Healthcare Security Administration of China jointly issued the Guiding Opinions to Encourage "Internet plus" Healthcare Services during the COVID-19 pandemic.
- The Dutch Healthcare Authority (NZa) has broadened the possibilities for providing distance-care by removing all possible obstacles or restrictive conditions in all care sectors.
- In Poland, telemedicine services are explicitly allowed since 2015. However, since the outbreak of COVID-19, it has been used even more broadly than before.
- In Brazil, the Ministry of Health has temporarily allowed telemedicine through Ordinance No. 467, issued on 23 March 2020. This ordinance provides for the possibility of using telemedicine in both public and private health systems.
- On 26 March 2020, the Health Professions Council of South Africa (HPCSA) permitted the use of telemedicine for managing patients remotely, using virtual platforms.
Such initiatives to boost the adoption of telehealth have increased the utilization of telemedicine carts. Hence this pandemic has had a positive impact on the growth of the medical carts and workstations market.
The medical carts and workstations market study presents historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts for 2027. It includes the market analysis by product (mobile computing carts/workstations, medical carts, medication carts, wall mount workstations, medical storage columns, cabinets, and accessories) and end user (hospitals, long-term care facilities, physician offices/clinics, and other end users), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on product, the mobile computing carts/workstations segment is estimated to account for the largest share of the market in 2020. The largest share of this segment is mainly attributed to the increased use of mobile computing carts and workstations in healthcare settings. Advanced mobile computing carts permit the mobilization of electronic health records throughout a healthcare facility, thereby providing complete flexibility and meeting the needs of specific clinical applications. The rising adoption of computers & information technology to improve patient safety drives the adoption of mobile computing carts/workstations.
Based on end user, the medical carts and workstations market is broadly segmented into hospitals, long-term care facilities (LTC), physician offices/clinics, and other end users, which include ambulatory surgical centers, research laboratories, and diagnostic centers. The hospitals segment is estimated to account for the largest share in 2020 due to increasing hospital expenditures for improving infrastructure, rising number of emergency admissions, need to improve overall patient care and safety, and the adoption of technologically advanced products also, the promotion of EHR programs in hospitals supports the largest share of the hospitals segment.
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This research report analyzes major geographies and provides a comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the rest of Europe), Asia-Pacific (Japan, China, India, and the RoAPAC), Latin America, and the Middle East & Africa. North America is estimated to dominate the medical carts and workstations market in 2020, followed by Europe and Asia-Pacific. Higher acceptance of advanced technologies, various supportive government initiatives to improve healthcare workflows and patient safety, easy access to medical carts and workstations due to a well-established healthcare system, and the presence of many leading players in the region propels the growth of this market in North America.
The key players operating in the medical carts and workstations market are Midmark Corporation (U.S.), The Harloff Company (U.S.), Capsa Healthcare (U.S.), Bergmann Group (U.S.), Altus Inc. (U.S.), Enovate Medical (U.S.), Medion Healthcare (India), Onyx Healthcare Inc. (Taiwan), AMD Global Telemedicine, Inc. (U.S.), Howard Industries, Inc. (U.S.), Lakeside Manufacturing, Inc. (U.S.), CompuCaddy (U.S.), GlobalMedia Group, LLC. (U.S.), JACO, Inc. (U.S.), AFC Industries Inc. (U.S.), Bytec Group Limited (U.K.), Parity Medical Ltd (U.K.), Solaire Medical, LLC (U.S.), ITD GmbH (Germany), Ergotron, Inc. (U.S.), Herman Miller, Inc. (U.S.), Omnicell, Inc. (U.S.), InterMetro Industries Corporation (U.S.), Medline Industries, Inc. (U.S.), and Modernsolid Industrial Co., Ltd. (Taiwan).
Key Questions Answered in the Report:
- Which are the high-growth market segments in terms of product type, end user, and region/country?
- What was the historical market size for medical carts and workstations across the globe?
- What are the market forecasts and estimates for the period 2020–2027?
- What are the major drivers, restraints, opportunities, and challenges in the medical carts and workstations market?
- Who are the major players in the medical carts and workstations market?
- How is the competitive landscape, and who are the market leaders in the medical carts and workstations market?
- What are the recent developments in the medical carts and workstations market?
- What are the different strategies adopted by the major players in the medical carts and workstations market?
- What are the geographical trends and high-growth regions/countries?
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