Meticulous Research®, a premier market research firm, has unveiled a comprehensive 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."
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According to this latest publication, the global medical carts and workstations market is expected to grow at a robust CAGR of 14.2% from 2022 to 2029, reaching an estimated value of $11.48 billion by 2029. Key drivers of this growth include the widespread adoption of Electronic Medical Records (EMR) and Electronic Health Records (EHR), the integration of IT solutions in healthcare settings, and ongoing efforts by healthcare organizations to enhance patient care, safety, and staff productivity. Furthermore, emerging markets and advancements in ergonomic and innovative designs for medical carts and workstations present substantial growth opportunities.
Market Drivers and Challenges:
Growth Drivers:
• Adoption of EMR and EHR: Accelerated digitization within healthcare facilities.
• IT Integration: Enhanced operational efficiency and patient care.
• Healthcare Advancements: Focus on improving patient care, safety, and staff productivity.
Challenges:
• High Costs: Significant initial investment for advanced carts and workstations.
• Skilled Workforce Shortage: Need for trained professionals to operate sophisticated equipment.
• Low Maneuverability: Difficulty in moving heavier workstations.
Impact of COVID-19: The COVID-19 pandemic has significantly boosted the adoption of telemedicine carts and workstations due to social distancing measures necessitating remote consultations. Key government initiatives have facilitated this shift:
• U.S.: FCC's COVID-19 Telehealth Program allocated $104.98 million to 306 healthcare providers across 42 states and Washington, D.C.
• China: NHC and NHSA promoted "Internet plus" healthcare services.
• Netherlands: Dutch Healthcare Authority (NZa) enhanced telehealth capabilities.
• Poland: Expanded use of telemedicine services.
• Brazil: Ministry of Health temporarily authorized telemedicine through Ordinance No. 467.
• South Africa: Health Professions Council permitted remote patient management via virtual platforms.
These measures have significantly increased the utilization of telemedicine carts, driving market growth.
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Market Segmentation and Insights:
Product Segments:
• Mobile Computing Carts and Workstations: Expected to dominate the market in 2022 due to their flexibility in mobilizing electronic health records.
• Specialty Medical Carts and Workstations: Includes emergency, anesthesia, and procedure carts tailored for specific clinical applications.
• Wall Mount Workstations and Medication Carts: Offer space-saving solutions and easy access for medical professionals.
• Medical Storage Columns, Cabinets, and Accessories: Ensure organized and efficient storage solutions.
End User Segments:
• Hospitals: Projected to hold the largest market share in 2022, driven by increased hospital expenditures, rising emergency admissions, and the adoption of EHR programs.
• Long-Term Care Facilities (LTC)
• Physician Offices/Clinics
• Other End Users: Includes ambulatory surgical centers, research laboratories, and diagnostic centers.
Regional Insights: North America is anticipated to lead the market in 2022, followed by Europe and the Asia-Pacific region. Factors contributing to North America's dominance include high acceptance of advanced technologies, supportive government initiatives, and a well-established healthcare infrastructure. Additionally, the presence of numerous leading medical device manufacturers in the region supports market growth.
Key Market Players: Key players profiled in this report include: Midmark Corporation (U.S.), Capsa Healthcare (U.S.), Bergmann Group (U.S.), The Harloff Company (U.S.), Ergotron, Inc. (U.S.), Altus Industries (U.S.), Enovate Medical (U.S.), ITD GmbH (Germany), AMD Global Telemedicine, Inc. (U.S.), Lakeside Manufacturing, Inc. (U.S.), HAT Collective (U.S.), Parity Medical (U.K.), GlobalMedia Group, LLC. (U.S.), JACO Inc. (U.S.), AFC Industries, Inc. (U.S.), Solaire Medical, LLC (U.S.), Bytec Group Limited (U.K.), Herman Miller, Inc. (U.S.), Omnicell, Inc. (U.S.), Modernsolid Industrial Co., Ltd. (Taiwan), Medline Industries, LP. (U.S.), and InterMetro Industries Corporation (U.S.).
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