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Telemedicine Cart Market Size By Product (Single Display Cart, Dual Display Cart), By Operation (Powered {LiFe Powered Carts, SLA Powered Carts}, Non-powered), By Lift Technology (Manual, Electronic), By End-use (Hospitals, Clinics, Specialty Centers, Home Care Settings), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI4479
  • Published Date: Mar 2022
  • Report Format: PDF

Industry Overview

Telemedicine cart Market size exceeded USD 639.2 million in 2021 and is estimated to grow at 18% CAGR between 2022 and 2028. Increasing research and development activities in the healthcare sector and the rising adoption of technologically advanced solutions for offering better care services will fuel the overall market growth.
 

Telemedicine cart Market

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Increasing demand from healthcare facilities in remote areas along with the rising government initiatives to upgrade the healthcare infrastructure will boost the adoption of telemedicine solutions. Telemedicine cart allows medical professionals to offer remote consultation services and can also be used for educational, clinical, and administrative purposes. Hence, with the rising adoption of telemedicine services coupled with the increasing efforts to penetrate optimum care services in remote areas, the market is anticipated to witness a lucrative growth over the forecast timeframe.
 

Telemedicine cart is a complex telemedicine solution and is especially used by larger healthcare system. A telemedicine cart is integrated with a display monitor, camera, speakers, microphone, keyboard, software, and network access to enable remote consultation between a patient and a caregiver. A telemedicine cart is mobile and can be wheeled from room-to-room in order to record and transmit patients’ medical data or include a consulting healthcare professional from another location in the patients visit.
 

The emergence of COVID-19 pandemic has impacted the global economy and significantly affected various industries by directly affecting the production, demand & supply chain of companies in the overall business. The increasing burden on healthcare sector to limit the spread of pandemic through stringent restrictions on the movement of people and goods has compelled healthcare institutions to adopt remote consulting solutions such as telemedicine to cater to the patient influx. Telemedicine carts have played a prominent role in bridging the gap between the patients and healthcare consultants. To limit the risk of transmitting the virus either to the patients or healthcare care workers, telemedicine platforms reported a multi-fold increase in the number of patients using such solutions. For instance, according to the Centers for Disease Control and Prevention, in 2020, a 154% increase in the virtual healthcare visits were noted in the last week of March as compared with the same period in 2019. Such trends lead to an increase in the adoption of telemedicine solutions and are anticipated to influence the telemedicine cart market statistics.
 

Reduced healthcare costs attributing to the implementation of telemedicine solutions will augment the market outlook

The telemedicine cart market was noted to gain momentum with the advent of COVID-19 pandemic as it helps in maintaining social distancing and reduces the risk of infections. The implementation of telemedicine solutions in healthcare industry has significantly contributed to the reduction in the healthcare costs. The reduced readmission rate, proper diagnosis and treatment and improved access to care have reduce the overall costs. Remote diagnosis and analysis service such as teleradiology, telepathology enables resource pooling that have resulted in reduced cost and high-quality care. The remote monitoring enables patients and old age population to get immediate access to care from the comfort of their home that limits the travelling to a healthcare facility. Thus, the aforementioned factors contribute to reducing the overall healthcare cost thereby propelling the market expansion.
 

State and federal barriers in the use of telehealth will hinder the market growth

The use of telemedicine devices was not much in practice before the COVID-19 outbreak. However, the increasing use of telehealth devices was not readily embraced by the regulations and long-standing rules governing the healthcare system. The regulations on reimbursement and the authority of medical practice licence across the state lines are hindering the market growth. The use of artificial intelligence (AI) and telehealth, particularly the laws that present a patchwork of accepted and non-eligible costs and services have served as impediments to the full deployment of telemedicine devices capabilities. Furthermore, the high cost associated with the maintenance of its components coupled with the higher initial capital costs is expected to hamper the market demand.
 

The benefits associated with dual display carts is expected to fuel the segmental growth

Global Telemedicine Cart Market Share, By Product

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By product, the telemedicine cart market is segmented into single display carts, dual display carts, and others. The dual display cart segment accounted for around USD 281 million in revenue in 2021 and is expected to witness lucrative growth over the forecast timeframe. The increasing segmental growth is attributed to the advanced solutions offered by the dual display cart. The dual display allows the healthcare professional to seamlessly view multiple tabs or include another healthcare professional in the telehealth visit. The combined support of ongoing videoconferencing with diagnosis and compartmentalizing screen viewing for patient and healthcare professional adds and advantage for improving productivity. Thus, the aforementioned factors will boost the adoption of dual display carts.
 

Independent power source in powered telemedicine carts will foster the market forecasts

The telemedicine cart market is bifurcated on the basis of operation into powered and non-powered. The powered segment is further sub-segmented into LiFe powered carts, SLA powered carts. The powered carts segment witnessed 66.5% revenue share for 2021 and is expected to grow significantly over the analysis period. The powered carts segmental growth is owing to the independent power source that adds an advantage for the powered carts to be used in the remote location and rural areas where power is often unreliable and to ensure smooth teleconsultation.
 

Moreover, due to limited facilities and healthcare resources, the quality of care provided to remote areas and underdeveloped regions is noted to remain below average globally. The powered telemedicine cart enables to overcome the problems faced in remote areas and enables to get better access to healthcare thereby, contributing to the segmental demand.
 

Ease of use will make electronically lift carts to witness significant expansion

By lift technology, telemedicine cart market is divided into electronically powered and manual lift technology. The electronic lift carts segment held 59.5% revenue share in 2021 and is expected to grow at a significant pace in the projected period. The carts with electronic lift do not require manual adjustments and uses electronic motor to adjust the height automatically. The electronic lift technology is noted to feature a memory setting to select and adjust the height setting of the telemedicine cart by default. These also provide advantages such as easy of handling and convenience positively impacting the segmental growth.
 

Increase efficient functioning of specialty centers will foster the segment statistics

The telemedicine cart market based on the end-use is segmented into hospitals, clinics, specialty centres, home care, and others. The specialty centre segment accounted USD 128.1 million revenue in 2021 and is expected to register a significant CAGR through 2028. Increasing awareness and adoption of telemedicine cart in the speciality centers is expected to strengthen the market demand. The speciality care centre provides services in emergency care, anaesthesia, and cardiology, among others. The increasing demand for better access to healthcare facilities in remote areas have increased the adoption of telemedicine cart in speciality centers to provide remote consultation. Lack of skilled professional in the rural areas and surge in the number of speciality care centers will increase the adoption of telemedicine cart and will be preferred alternatives to gain better access to healthcare in remote areas. Thus, owing to the aforementioned factors, the industry is anticipated to remain driven throughout the forecast period.
 

Increased disposable income and rising demand better healthcare facilities in North America region will boost the telemedicine cart industry outlook

Global Telemedicine Cart Market, By Region

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North America telemedicine cart market accounted of USD 378.8 million revenue in 2021 and is expected to witness significant CAGR in the projected timeframe. Rising healthcare expenditure and implementation of novel technologies for efficient functioning of healthcare organizations are contributing to the regional market growth. Furthermore, increased disposable income, increasing awareness and demand for better healthcare services are some of the major factors for increasing adoption of telemedicine carts. The accurate diagnosis and treatment using telemedicine cart cuts on cost and saves time that also reduces the hospital stay and enhances patient outcome.
 

The increasing technological advancement and the ability to connect with the medical professional from any remote location is expected to foster the North America industry expansion in the forecast period. Moreover, the government regulations to maintain electronic health records is also expected to foster the market statistics.
 

Novel product approvals and inorganic growth strategies will drive market trends

Major players in the telemedicine cart industry include AMD Global, AFC Industries, American Well, Technologies, Ergotron, Parsys, and Poly. These market players are adopting various growth strategies such as new products launch, merger, partnership to increase the business share. Moreover, strategies such as partnering with healthcare professionals and novel product development to expand their operations in the industry will drive the market growth.
 

Recent industry developments:

  • In December 2021, AFC Industries acquired AALL AMERICAN Fasteners (AAF), a vendor managed inventory service provider which offers electronic hardware, electrical components, a complete line of fasteners, abrasives, tools, safety, and industrial products. This acquisition has helped the firm to develop innovative and high performing healthcare telemedicine equipment.
     
  • In December 2021, GlobalMed announced to include more virtual care delivery services offerings in the CostSimplified program that provide virtual care service that allows organization to adopt and provide access to users of virtual health stations, devices, and software platform for a low month free. This strategy will expand access to patients and augment the company’s revenue.
     

The telemedicine cart market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2028, for the following segments:

By Product

  • Single Display Carts
  • Dual Display Carts
  • Others

By Operation

  • Powered carts
    • LiFe powered carts
    • SLA powered carts
  • Non-powered carts

By Lift Technology

  • Manual
  • Electronic powered

By End Use

  • Hospitals
  • Clinics
  • Specialty centers
  • Home care
  • Others

The above information is provided for the following geographies:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Denmark
    • Poland
    • Portugal
    • Sweden
    • The Netherlands
    • Norway
    • Switzerland
    • Finland
    • Ireland
    • Belgium
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • New Zealand
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Others
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Qatar
    • Kuwait
    • Others

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

Global market for telemedicine cart surpassed $639.2 million in 2021 and is estimated to register a strong CAGR of 18% during the forecast timeline of 2022-2028.

Dual display carts generated a revenue of around $281 million for the global telemedicine cart market in 2021 as the carts allow healthcare professionals to simultaneously view multiple tabs and can facilitate seamless videoconferencing while diagnosing a patient’s underlying condition.

The powered telemedicine cart held 66.5% revenue share of the overall industry in 2021 as these carts use an independent power source to function, which will make them highly useful in remote locations and rural areas where there is a frequent electricity outage.

The overall market revenue from specialty centers reached $128.1 million in 2021 as these telemedicine carts are finding high adoption in various specialty centers to offer high-quality services like remote consultation to patients living in rural areas.

North America telemedicine cart market value reached $378.8 million in 2021 as governments across the region are boosting their healthcare investments and implementing advanced technologies to help medical organizations function smoothly.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 10
  • Tables & Figures: 434
  • Countries covered: 32
  • Pages: 210

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