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, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Jan 2020  |  Report ID: GMI4479  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 210   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry trends

Telemedicine carts are systems that integrate a display, camera, microphones, speakers and network access to enable remote consultation between a caregiver and a patient. A telemedicine cart may feature flexible handles, pneumatic height adjustment, antimicrobial work surfaces for easy handling of the equipment. Telemedicine carts are often equipped with specialized cameras and sensors. The cameras are used to obtain specialized images of the ear infection or skin infection for virtual patient diagnosis. The sensors are used for data collection such as pulse rate or oxygen saturation.
 

Telemedicine Cart Market
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Telemedicine is an emerging concept in the medical technology landscape. The industry first saw its emergence during the American civil war, when commanders started using telegraphs to request supplies and medical assistance at the frontline. At the end of the 20th century, some hospitals started investigating the use of telecommunications to treat remote patients. This was the first use of modern telemedicine. In 1959, University of Nebraska doctors relayed a neurological examination to students across the campus by the means of a two-way TV system. As technology advanced, market players launched the modern telemedicine cart with dedicated displays, cameras, and integrated sensors. These carts can be used for remote consultation sessions, administer emergency care during disasters, or to include a remote physician in the consulting room. Market players are currently working on addition of new technology to the carts, increasing the affordability to increase product adoption and expand the telemedicine carts market share.
 

Telemedicine Cart Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 374.6 Million
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 21.9% 2026 Value Projection: USD 1,501.5 Million
Pages: 210 Tables, Charts & Figures: 457
Geographies covered (32): U.S., Canada, Germany, UK, France, Spain, Italy, Denmark, Poland, Portugal, Sweden, The Netherlands, Norway, Switzerland, Finland, Ireland, Belgium, China, Japan, India, Australia, New Zealand, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Israel, Qatar, Kuwait
Segments covered: Product, Operation, Lift-technology, End-use and Region
Companies covered (10): AFC Industries, AMD Global Telemedicine, American Well, Ergotron, First Healthcare Products (Cura Carts), GlobalMed, InTouch, Parsys, Poly, Rubbermaid
Growth Drivers:
  • Increasing technological advancements pertaining to telemedicine carts
  • Implementation of telemedicine services limiting healthcare expenses
  • Growing prevalence of infectious diseases across the globe
Pitfalls & Challenges:
  • High cost associated with telemedicine carts might hamper market growth
  • Dearth of specific regulatory body governing telemedicine services in various countries

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Rising prevalence of infectious diseases will boost market growth

Rising prevalence of infectious diseases, especially in the remote parts of the world will help in expansion of the market. For instance, in August 2018, Congo witnessed a massive Ebola outbreak that required immediate assistance of healthcare personnel. As telemedicine services are helpful particularly in rural areas where specialists may not be readily available, the demand for telemedicine carts witnessed a significant growth. Major factors leading to rise in infectious diseases include a rise in zoonotic diseases and a lack of vaccines for such diseases. Thus, growing prevalence of infectious diseases will lead to an increase in adoption of telemedicine carts across the forecast timeframe.
 

High cost of telemedicine carts might be a growth dampening factor for telemedicine cart market expansion. Moreover, dearth of specific regulatory bodies governing telemedicine services will present as a major hurdle to the industry growth.
 

Dual display telemedicine carts are the preferred product segment

North America Telemedicine Carts Market, By Product

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The product segment of telemedicine cart market is divided into single display carts, dual display carts, and others. Globally, the dual display cart segment had a value of USD 124 million in 2019. It is forecasted that the segment will witness a lucrative growth over the analysis timeframe. This high growth can be attributed to the advanced solutions offered by dual display telemedicine carts. For instance, dual display carts can simultaneously allow the caregiver to visualize a dashboard while using the other screen for themselves. Also, they can be used to consult multiple caregivers at the same time. Aforementioned factors will propel adoption of dual display telemedicine carts in the future, thus providing new market growth opportunities.
 

No dependence on electricity will make powered telemedicine carts the star segment

By operation, the telemedicine cart market size is segmented as powered and non-powered. Based on the battery technology, powered telemedicine carts are further segmented as LiFe (lithium iron phosphate) and SLA (sealed lead acid) battery powered. The powered carts market will witness a 21.9% CAGR. This significant expansion can be attributed to the independent power source in the telemedicine carts, enabling them to be used from remote locations where power is often unreliable. Furthermore, as large percentage of population is underserved in remote areas of the globe, the adoption of telemedicine services will boost market demand.
 

Ease of use will make electronically powered lift carts to witness significant growth

By lift technology, telemedicine carts are split into electronically powered and manual lift technology. The electronically powered carts market held a 60% market share in 2019, making it the segment of choice. It is forecasted that the segment will see significant growth during the coming years. Telemedicine carts with electronic lift technology use motors to adjust the height of the cart automatically. Furthermore, they have a memory function which remembers the height setting and increases the ease of use of these carts. These factors will increase the product demand, fueling industry growth over the forecast period.
 

Increase in specialty centers will power the segment growth

Based on the end use, telemedicine cart market is segmented into hospitals, clinics, specialty centres, home care, and others. The specialty centre segment was valued at USD 74 million in 2019 and is poised to witness significant growth. Specialty care centres include services such as cardiology, anaesthesia and emergency care. These specialty centres are increasing in remote areas and owing to a lack of trained medical personnel in these parts, telemedicine will be the preferred alternative. These factors will boost the market demand across the analysis timeframe. 
 

Large percentage of remote population will propel the Asia Pacific market growth

Asia Pacific Telemedicine Cart Market, By Country

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The Asia Pacific held a significant market share in 2019 and is forecasted to exhibit a 24.5% CAGR. The region accounts for a large percentage of the global population, most of which resides in rural areas. Increasing sophistication of telecommunication services, coupled with increasing penetration of internet will prove conducive to the industry growth. Furthermore, government initiatives promoting development of telemedicine will increase adoption of telemedicine solutions. These factors will boost the APAC telemedicine cart market share.
 

North America was valued upwards of USD 220 million in 2019 and the market is expected to witness significant growth in the future. Increasing healthcare expenditure will increase the demand for price-sensitive alternatives. An increasing number of insurers reimbursing telemedicine will drive technology adoption. Furthermore, a growing inclination of the consumers towards homecare and a presence of key players in the region will contribute to the regional industry growth.
 

Novel product approvals in Europe and the U.S. will drive market growth

Major companies in the telemedicine cart market share include American Well, AMD Global Technologies, Ergotron, Parsys, and Poly. These players are launching innovative products, partnering with caregivers in a bid to increase market share. Furthermore, they are adopting inorganic strategies such as mergers and acquisitions to expand their operations in the industry.
 

Recent industry developments:

  • In March 2019, Plantronics and Polycom merged to form Poly. This will give Plantronics access to Polycom’s audio technologies which it will integrate in their telemedicine solutions. Thus, Poly expanded their operations by combining the best of their technologies.
     
  • In January 2019, American Well announced the launch of American Well 760 cart. This cart features easier controls, enhanced performance and a high-performance camera. This launch has helped American Well increase their operations by offering more options in their product portfolio and expand the industry share.
     

The telemedicine cart market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:

Telemedicine Cart Market, By Product, 2015 – 2026 (USD Million)

  • Single Display Carts
  • Dual Display Carts
  • Others

Telemedicine Cart Industry, By Operation, 2015 – 2026 (USD Million)

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

By Lift Technology, 2015 – 2026 (USD Million)

  • Manual
  • Electronic powered

By End Use, 2015 – 2026 (USD Million)

  • 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
       

Frequently Asked Questions (FAQ) :

The market size of telemedicine cart exceeded USD 374.6 million in 2019.
The industry share of telemedicine cart is poised to grow at a CAGR of over 21.9% between 2020 and 2026.
Telemedicine carts are systems that integrate a display, camera, microphones, speakers and network access to enable remote consultation between a caregiver and a patient.
The telemedicine carts demand was valued over 370 million in 2019 and the industry is projected to grow at more than 21.9% CAGR through 2026.
The dual display cart segment had a value of USD 124 million globally in 2019, says a GMI report.
The powered carts market will witness a 21.9% CAGR up to 2026 owing to the independent power source in the telemedicine carts, enabling them to be used from remote locations.
Regionally, North America was the highest market valued at over USD 220 million in 2019.

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Premium Report Details

  • Published Date: Jan 2020
  • Pages: 210
  • Tables: 418
  • Charts / Figures: 39
  • Companies covered: 10
  • Countries covered: 32

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