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The Global Medical Carts/workstations Market
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The Global Medical Carts/Workstations Market is expected to grow at a CAGR of 14.2% from 2018 to 2023 to reach USD 6.2 billion by 2023.
According to the U.S. Census Bureau, emerging economies such as Asia Pacific accounted for the largest number of aging population (341.4 millions) in 2015 and is expected to grow by 975.3 million in 2050, followed by Europe, North America, Latin America & the Caribbean, Africa, and Oceania. This significantly expands the prevalence of various chronic diseases such as diabetes, cardiovascular diseases, cancers, and genetic disorders among others, causing additional burden on healthcare providers.
Moreover, people with multiple chronic conditions typically require frequent visits to physicians. Medical carts/workstations promise to fill the gap of lower physicians/ healthcare professionals’ rate per 1000 patients in chronic disease management. As they save valuable time and efforts of healthcare professionals involved in repetitive rounds for medication planning and tedious patient data recording through easy treatment plan management, medication management, and long-term chronic care management.
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Key Findings from the Medical Carts/Workstations Market Study:
Mobile Computing Workstations/Carts Dominates the Global Market -
According to the CDC, chronic disease conditions accounts for approximately 86% of the health care expenditures in the U.S. It is estimated that this will become 164 million Americans – nearly 50% of the population by 2025. The reason behind this is the large demographic transition across the globe. Many individuals with chronic conditions are included in geriatric population, and therefore have mobility limitations. Thus, advanced mobile computing carts permit the mobilization of electronic health records throughout a hospital or nursing care facility; thereby provide complete flexibility and meet the needs of a specific clinical application.
Hospitals to be the Major Adopters of Medical Carts and Workstations-
With the growing demand for healthcare services from rising number of diseased people and rising focus on providing efficient treatments, hospitals are increasing their spending on improving overall patient care and safety. As per the Indian Hospital Services Market Outlook, there was rapid growth in healthcare spending by government hospitals from 26% in 2005 to 40% in 2015 for better improvement in patient care.
China to Witness Fastest Growth -
While North America is dominating the global medical carts and workstations market, Asia Pacific region is estimated to be the fastest growing region due to presence of significant patient pool, especially in rural/remote areas with limited healthcare access, aging population, rising burden of chronic diseases such as diabetes and cardiovascular diseases, and improving telecommunication infrastructure. In APAC, China provides lucrative growth opportunities for the market players. This is mainly due to continuous progression in rising geriatric & chronically ill population creating burden on healthcare economy, growing healthcare expenditures, increasing number of healthcare facilities like hospitals and clinics, and rising adoption of IT infrastructure in leading hospitals across the country.
Market by Component -
• Mobile computing carts/workstations
• Medical carts/workstations
• Computer carts/workstations
• Documentation carts/workstations
• Others carts/workstations
• Mobile computing carts/workstations accessories
• Medical carts
• Anesthesia carts
• Emergency carts
• Procedure carts
• Wall-mount workstations
• Wall arm workstations
• Wall cabinet workstations
• Wall-mount workstations
• Medication carts
• Medical storage columns, cabinets, and accessories
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