Telemedicine Cart Market size to exceed $3.2Bn by 2032
Published Date: May 2023
Telemedicine Cart Market size will be worth more than USD 3.2 billion by 2032, according to a new research report by Global Market Insights Inc.
The rising deployment of telemedicine services for limiting healthcare expenses and external healthcare delivery costs will positively anchor the industry growth. The decreased cost of transportation incurred while nursing at homes, during child and elder care as well as the time spent in waiting room are likely to reduce the healthcare cost for both the patient and provider. Hence, the increasing usage of telemedicine carts will favor the telemedicine cart market trends.
However, the lack of specific regulatory bodies for governing telemedicine services across various countries may hinder the product espousal. A limited number of countries have implemented specific regulatory bodies to govern the telemedicine services. Hence, the dearth of these regulatory entities due to the growing need for accrediting and monitoring the practitioners through telemedicine services will restrict the market gains to some extent.
Rising application of single display carts in teleconsultation to boost industry trends
The single display telemedicine cart market share reached over USD 337 million in 2022. Single display telemedicine carts are completely equipped for carrying out smooth two-way teleconsultation. This is mainly due to their single monitors and cost-effectiveness, making them increasingly favored over their dual display counterparts. The growing requirement for timely diagnostics and the remote delivery of specialized care will further influence the industry progression.
Thriving demand for non-powered telemedicine carts in hospitals to accelerate market trends
Telemedicine cart industry share from the non-powered operation segment is expected to reach over USD 1 billion by 2032. Hospital facilities are dependent on constant power supply and work with reliable power backup in case of power outages for avoiding disruption in healthcare services. Non-powered telemedicine carts are mobile and are hence widely deployed. Thus, the increasing presence in hospital premises and other holding rooms in healthcare facilities will foster the product adoption.
Browse key industry insights spread across 250 pages with 424 market data tables & 35 figures & charts from the report, “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), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/telemedicine-cart-market
Growing need for telemonitoring in hospitals to anchor telemedicine cart outlook
The telemedicine cart industry valuation from hospitals surpassed USD 390 million in 2022 driven by the rising number of telemonitoring cases. As per the National Health Interview Survey, in 2021, nearly 37% of adults in the U.S. used telemedicine during 2020-2021. The robust access to state-of-the-art facilities will also drive the demand for telemedicine carts across the hospital settings.
Rising burden of lifestyle disorders to influence market expansion in APAC
Asia Pacific telemedicine cart market industry size is poised to depict 16.9% CAGR from 2023-2032 due to the thriving lifestyle disorders in the region. Some of the major diseases include diabetes, hypertension and obstructive sleep apnea (OSA). According to the International Diabetes Federation (IDF) 2021 estimates, around 11 million adults in Japan suffer from diabetes. Thus, the rising adoption of technologically advanced equipment and platforms for the prevention as well as treatment of these diseases will proliferate the regional market value.
Partnerships and acquisitions to add positive impetus to telemedicine cart adoption
Some of the major telemedicine cart industry players include AFC Industries, AMD Global Telemedicine, American Well, Ergotron, First Healthcare Products (Cura Carts), GlobalMed, InTouch, Parsys, and Poly.
