Telemedicine Cart Market Report

Market Insights

The Telemedicine Cart Market is projected to grow from USD 651.98 million in 2021 to USD 2090.06 million by 2028 at a CAGR of over 18.04 % during the forecast period of 2022-2028.

What is a Telemedicine Cart?

A Telemedicine cart is referred to as system that integrate a camera, display, microphones, network access, and speakers to enable remote consultation between a patient and a caregiver. A telemedicine cart features pneumatic height adjustment, flexible handles, and antimicrobial work surfaces for easy handling of the equipment. Moreover, these carts are generally equipped with specialized sensors and cameras.

Market Dynamics

Rising technological developments pertaining to telemedicine carts coupled with rising digitalization and rising adoption of smartphones are some of the key factors augmenting the market growth. Also, increasing implementation of telemedicine services limits the healthcare expenses thus reduces the overall healthcare expenditure. Moreover, the rising prevalence of infectious diseases across the globe further bolsters the product demand. However, the high cost associated with telemedicine carts is likely to hinder the industry growth.

COVID-19 Impact on Global Telemedicine Cart Market

The ongoing COVID-19 pandemic has bolstered the telemedicine cart industry. The rising importance of social distancing and increasing need to minimize the spread of COVID-19 infection to the physicians will drive the need for telemedicine. Minimizing the spread of COVID-19 infection among healthcare staff will further result in market growth. Hospitals are likely to witness substantial growth across the forecast period, due to the rising number of telemonitoring cases due to growing COVID-19 infections.

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Key Players

Key players operating in the telemedicine cart market are-

• AFC Industries (The U.S),
• AMD Global Telemedicine (The U.S),
• American Well (The U.S),
• Ergotron (The U.S),
• First Healthcare Products (The U.S),
• GlobalMed (The U.S),
• InTouch (The U.S),
• Parsys (India),
• Rubbermaid (The U.S) and
• Capsa Healthcare (The U.S).

Target Audience

Following are the target audience in the Telemedicine Cart Market-

• Telemedicine cart companies
• Telemedicine cart vendors
• R&D companies
• Hospitals
• Drug manufacturing companies

Segment Analysis

Product Trends

By product, the telemedicine cart market has been segmented into single display cart, dual display cart, and others. Under these, the dual display cart segment garnered the largest market share in 2021 and is estimated to grow at a healthy CAGR during the review period. This is mainly attributed to advanced and modern solutions offered by dual display telemedicine carts. Dual display carts can simultaneously allow the caregiver to visualize a dashboard while using the other screen for themselves, thereby spurring the segment growth.

Operation Trends

By operation type, the market has been segmented into powered [LiFe powered carts, SLA powered carts] & non-powered. The powered cart segment accounted for more thane 65% of the market share in 2021 and is expected to grow at healthy CAGR.

Lift Technology Trends

By lift technology type, the market has been segmented into manual & electronic. Electronic lift carts segment accounted for more than 57.7% market share in 2021 and is expected to grow at considerable CAGR.

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Regional Trends

By region, Asia Pacific accounted for the highest market share in 2021 and is estimated to grow at a substantial CAGR during the forecast timeline. This is mainly ascribed to a large percentage of the global population, most of which reside in rural areas. Also, the rising sophistication of telecommunication services, as well as the growing penetration of the internet, bolsters the product demand in the region. In addition, favourable government initiatives promoting the development of telemedicine will surge the adoption of telemedicine solutions.

Market Segmentation

The market is segmented in the following ways:

By Product Type

• Single display cart
• Dual display cart
• Others

By Operation Type

• Powered [LiFe powered carts, SLA powered carts]
• Non-powered

By End-Use Type

• Hospitals
• Clinics
• Specialty Centers
• Home care settings
• Others

By Lift Technology

• Manual
• Electronic

By Region

• North America
• Europe
• Asia-pacific
• Middle East & Africa
• South America

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.