Medical Carts Market to Reach $1.3 Billion by 2023: Growth in Focus on Improvement of Patient Safety

The global medical carts market accounted for $571 million in 2016, and is anticipated to reach at $1,302 million by 2023, registering a CAGR of 12.4% from 2017 to 2023.Upsurge in use of electronic health record (EHR) and electronic medication administration record (eMAR) to avoid medical errors, rise in need for rapid & easy accessibility to medical supplies and equipment, and growth in focus on improvement of patient safety & nursing efficiency are the key factors that drive the market growth. Furthermore, development of advanced technologies, such as telemedicine, fuel the demand and application of medical carts. However, high costs of medical carts, limited availability of funds, and dearth of skilled professionals could impede the market growth.

The global medical carts market accounted for $571 million in 2016, and is anticipated to reach at $1,302 million by 2023, registering a CAGR of 12.4% from 2017 to 2023.

Upsurge in use of electronic health record (EHR) and electronic medication administration record (eMAR) to avoid medical errors, rise in need for rapid & easy accessibility to medical supplies and equipment, and growth in focus on improvement of patient safety & nursing efficiency are the key factors that drive the market growth. Furthermore, development of advanced technologies, such as telemedicine, fuel the demand and application of medical carts. However, high costs of medical carts, limited availability of funds, and dearth of skilled professionals could impede the market growth.

North America accounted for the highest market share in the medical carts market in 2016, and is expected to maintain its dominance throughout the forecast period, owing to increase in demand for customized and sophisticated medical carts that fit the minimal hospital area and aids in improving nursing efficiency. However, Asia-Pacific is expected to emerge as a lucrative area with maximum growth potential, owing to the improvement in healthcare facilities, available disposable income, and rapid development in the economic conditions.

Companies Mentioned

Key Topics Covered:

Chapter 1 - Introduction

Chapter 2 - Executive Summary

Chapter 3 - Market Overview

Chapter 4 - Medical Carts Market, By Type

Chapter 5 - Medical Carts Market, By Region

Chapter 6 - Company Profiles

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