Market Trends of Medical Carts Industry
The Emergency Carts Segment is Expected to Record Significant Growth Over the Forecast Period
The emergency carts segment is expected to account for a significant market share over the forecast period. This can be attributed to the presence of several emergency care units and the use of these carts in emergency rooms. These carts are equipped with medical devices, supplies, or drugs for emergencies such as ischemic stroke and severe injuries with profuse bleeding.
Thus, the increasing number of medical emergencies and road accidents are projected to accelerate segmental growth over the forecast period. For instance, according to the February 2024 updated data from the UK government, around 27,796 people were severely injured in road accidents in the country in 2023. As per the same source, 104,014 people were slightly injured. Thus, the high instances of road accidents are likely to foster demand for emergency carts in emergency rooms due to higher hospitalizations.
According to the data updated by the Amaro Law Firm in March 2023, car accidents were a leading cause of emergencies in the United States, and at least 7.3 million motor vehicle accidents were estimated to have occurred annually across the country. The source also stated that an estimated 19,937 car crashes occurred every day in the United States. Thus, the significant number of road accidents is likely to create medical emergencies, fuelling the demand for emergency medical carts in emergency departments for patient management.
The segment is projected to benefit from the increased adoption of emergency medical carts and trollies in different medical emergencies like trauma stroke. For instance, according to an article published by the Academic Emergency Medicine journal in April 2023, emergency medical carts are highly employed in emergencies like trauma and burns to quickly access medical accessories and supplies. Thus, such applications of emergency medical carts are projected to boost the growth of the segment over the forecast period.
North America is Expected to Hold A Significant Market Share Over the Forecast Period
North America is expected to hold a significant share of the market throughout the forecast period. Increasing public and private healthcare expenditures, the growing number of hospitals, and an increase in surgery volumes are factors that can be attributed to this. The market’s growth is expected to be fueled by the increase in the prevalence of diseases and injuries in the region.
The growing burden of chronic diseases in the region is projected to facilitate the demand for medical carts over the forecast period. For instance, as per the Alzheimer’s Association’s report from March 2023, Alzheimer’s disease and dementia were among the major neurological disorders in the United States, and an estimated 6.7 million Americans aged 65 and older were living with Alzheimer’s and dementia in 2023. The growing burden of chronic diseases in the region is expected to increase hospital admissions, thereby fueling the demand for medical carts over the forecast period.
The market’s growth is also expected to be fueled by the increasing emergency department visits in North America. For instance, according to November 2023 data from the Centers for Disease Control and Prevention (CDC), around 139.8 million people visited emergency departments in the United States, with 42.7 visits per 100 patients. Thus, the increase in the number of emergency department visits in the region is expected to spur the adoption of medical carts to streamline the flow of healthcare supplies.
North America has a large number of market players offering a wide range of products. Thus, the presence of a large number of companies in the region and several strategic initiatives undertaken by them are anticipated to accelerate market expansion over the forecast period. For instance, in July 2022, Holo Industries LLC launched a transformative HoloMed line of holographic inserts for medical carts, patient monitors, and other products that protect patients and hospital staff by virtually eliminating surface contact and touchpoints, thereby reducing the transmission of HAIs. Thus, such innovative product launches are projected to foster regional market growth over the forecast period.
Thus, the above-mentioned factors, such as the higher burden of chronic diseases, increasing emergency department visits, and several strategic initiatives undertaken by the market players, are expected to boost regional market growth over the forecast period.
