Medical Casters Market 2021 Report On Report 2021: Technology, Application, Types, End-User, Geography, Competitive Analysis and the Impact of Covid-19 with Analysis 2021-2030

In a recent published report, Kenneth Research has updated the market report for Medical Casters Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical Casters Market products.

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REPORT HIGHLIGHT

The medical casters market was valued at USD 3.61 billion by 2017, growing with 4.3% CAGR during the forecast period, 2018-2025

Market Dynamics

Casters are wheeled devices which are mounted on various objects for their easy rolling. Medical wheels are popularly used in health care, pharmaceutical and institution industries where there is need of unique motion control. These assemblies can move in various axis and can bear any kind of environment. For instance, caster is also suitable for washed-down areas, sterile areas or areas of corrosive elements. With a need to help medical and surgical staff, the market is expected to fuel up in the forecast period. The industrial caster has wide applications, but the primary objective of all remains the same I.e. transport items. However, the choice of suitable wheel depends on the item which needs to carry. For instance, medical equipment casters play a pivotal role in health care industry. They are used to transport patients and hence they should never fail.

Advancement in medical equipment has given birth to light weight medical appliances. But even they are light; they should be transported with utmost attention. Casters often carry extremely expensive medical equipment and hence they should support up and down rolling. It is estimated that 10% of back injuries are related with the pulling and pushing tasks. And this reason is estimated to increase the demand of caster wheel over the years.

Globally with the rise in number of hospitals and clinics, the market is expected to grow at an excellent CAGR. Caster wheels are responsible for easy mobility of patients in hospitals. However, aspects like noisy wheels and rolling resistance may hinder the market growth in future. Also the plastic material used while manufacturing may hinder its growth.

Product Takeaway

By product, the market is divided into computer, procedure, anaesthesia, emergency, food delivery, and medication casters. Emergency casters can be cleaned easily and comprise of drugs which are helpful in emergency situation like cardiac arrest. Improved mobility, light weight and enhanced ergonomics are some of the factors which has allowed emergency casters to grab maximum revenue. It has captured 35% of total revenue share globally.

Computer caster is operated by battery. Moreover, the advanced designs and changing ergonomics are anticipated to propel the demand. Vendors are trying their best to come up with easy-to-implement technologies for remaining ahead in the market.

Regional Takeaway

In 2016 North America collected the largest revenue and it is expected to rise exponentially in the coming years. Streamlined health care and presence of integrated health care IT system are some of the aspects responsible for regional dominance in the market. Companies manufacturing medical devices are emphasizing more on innovative medical carts on wheels for meeting consumers’ requirements. For this, manufacturers are coming up with products like battery operated clinical workstations, security drawers and automated dispensing systems.

Asia Pacific region is anticipated to receive lucrative growth with their focus on manufacturing cost-effective devices which can deliver high efficiency. Moreover, global players are collaborating with local vendors because of low cost labor and raw material, supporting this regional growth to great extent.

Key Vendor Takeaway

This market is fragmented in itself and comprise of various small and large scale companies. Some of the key vendors of the market are Haion Caster Industrial Limited, Colson Group, Tente, Albion, Foshan Globe Caster Limited, Xiangrong Caster Manufacturing Company, Flywheel Metalwork Ltd., Germany Blickle, and Shepherd Caster.

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Companies are focusing on product innovation, mergers and acquisitions and regional expansion for gaining an edge in the market. Moreover, with the demand of advanced health care IT solutions and increase in patient care and safety, the market is estimated to fuel up in the coming years.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016

Base Year – 2017

Estimated Year – 2018

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies and Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCT

Computer Casters

Procedure Casters

Anaesthesia Casters

Emergency Casters

Food Delivery Casters

Medication Casters

Others

MARKET, BY REGION

North America

U.S.

Canada

Europe

Germany

France

Rest of Europe

Asia Pacific

India

China

Rest of Asia Pacific

Rest of the World

Latin America

Middle East and Africa

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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