Metabolic Cart Market Size, Share, Growth, and Industry Growth by Type (Desktop Device Type and Ground Standing Type) By Application (Hospital, Private Clinic, Nursing Home and Others), Regional Forecast To 2031

Updated On: 08 April 2024

METABOLIC CART MARKET REPORT OVERVIEW

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The global metabolic cart market size was USD 221.34 million in 2021 and is projected to touch USD 412.09 million by 2031, exhibiting a CAGR of 6.41% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with metabolic cart experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

The quantity of oxygen you take in and the amount of carbon dioxide you exhale during meals, rest, and some forms of activity are measured by metabolic carts. Whether the topic is a human, a dog, or a plant, the oxygen intake and carbon dioxide generation of the subject are measured by a metabolic cart. Leading research institutions' physiology, nutrition, and kinesiology departments would benefit greatly from a metabolic cart. Top colleges all around the world have placed our carts. Sports medicine organizations like Ironman and Gatorade Sports Science Institutes employ metabolic carts as well to monitor the development of athletes.

The rise in sedentary lifestyle, rising healthcare costs, technology improvements, and the rising incidence of illnesses linked to a sedentary lifestyle, such as diabetes, obesity, and cardiovascular disease, are some of the reasons propelling the expansion of the worldwide metabolic cart market. The market for metabolic carts is expanding because to rising healthcare awareness as well as a higher standard of living. But some of the constraints limiting the growth of the worldwide metabolic cart market include the high cost of tools and software, as well as restricted reimbursement.

COVID-19 Impact: Increased Use of Electrocardiography to Boost the Market During the Pandemic

The global market for metabolic carts has grown during the anticipated period due to an increase in the usage of electrocardiography in COVID-19. For instance, the National Center for Biotechnology Information, National Library of Medicine, published a report on Value of electrocardiography in COVID-19, which stated that electrocardiogram monitoring upholds a critical role in patient safety during the dose adjustment of medications used in the management of COVID-19. Due to its low cost and potential for remote assessment, the electrocardiogram (ECG) is one of the key instruments used to gauge the degree of cardiac involvement in COVID-19 patients.

LATEST TRENDS

"Introduction of New Technologies to Boost the Market Growth"

The worldwide market for metabolic carts is anticipated to increase as new technologies are used by more and more devices. The life-threatening, asymptomatic cardiac illness known as left ventricular dysfunction was identified using artificial intelligence in a new app created by Mayo Clinic, a medical institution specializing in integrated health care, teaching, and research, for the global technology corporation Apple. The identification of left ventricular dysfunction was made possible by the addition of artificial intelligence to the analysis of a 12-lead ECG in a clinical scenario. Hospital systems may scale up and use the technology to better serve patients, especially those in rural areas or with different geographic demographics.

METABOLIC CART MARKET SEGMENTATION

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• By Type Analysis

By type, market is segmented into desktop device type and ground standing type. The desktop device type segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into hospital, private clinic, nursing home and others. The hospital segment will lead the global share through 2028.

DRIVING FACTORS

"Increased Incidents of Diabetes to Fuel the Market Growth"

The market for metabolic carts is anticipated to increase significantly over the coming years because to the rising incidence of lifestyle disorders such type 2 diabetes, obesity, and cardiovascular conditions. The American Diabetes Association (ADA) reports that a sizable proportion of Americans have diabetes. However, many people, including children and teenagers, have type 1 diabetes. High demand for metabolic carts is caused by the rising incidence of lifestyle illnesses, which is anticipated to propel the growth of the worldwide metabolic cart market.

Therefore, it is anticipated that the increased incidence of diabetes will fuel the growth of the worldwide market for metabolic carts throughout the forecast period.

"Decentralized Clinical Trials to Propel the Market Demands"

The worldwide metabolic cart market is growing as a result of industry participants launching more gadgets on the market. An at-home, full-service 12-lead electrocardiogram (ECG) solution for use in decentralized clinical trials has been launched, according to Royal Philips, a multinational health technology business. The company's cardiac monitoring portfolio now includes a patient-centric ECG option thanks to the clinical-grade solution, which combines data readings similar to those from clinical, site-based ECGs with Philips, a provider of cloud-based data collection and analysis services. This collaboration fosters innovation across the care continuum and supports the decentralized clinical trial market.

RESTRAINING FACTORS

"Lack of Awareness Among the Public to Impede the Market Growth"

In both industrialized and developing economies, lifestyle illnesses are still not viewed as being particularly dangerous and lethal. The market's expansion is also anticipated to be constrained by a lack of public knowledge about metabolic health and the necessity of screening for, preventing, and monitoring lifestyle disorders.

METABOLIC CART MARKET REGIONAL INSIGHTS

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"North America to Hold the Largest Global Metabolic Cart Market Share"

Due to the development of metabolic cart technology and the rising incidence of diseases linked to a sedentary lifestyle, such as obesity and diabetes, North America is predicted to dominate the worldwide metabolic cart market over the forecasted period. Due to rising healthcare costs, a sizable patient population, an increase in living standards, and stepped-up government assistance, Asia-Pacific is the area with the fastest expanding metabolic cart market globally. The metabolic cart market is expanding as a result of improved healthcare infrastructure in emerging nations like China and India, as well as rising healthcare awareness.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Noraxon U.S.A., Inc. (US)
• Mortara Instrument, Inc. (US)
• Philips Healthcare (Netherlands)
• KORR Medical Technologies, Inc. (US)
• Microlife Medical Home Solutions, Inc. (US)
• Nihon Kohden Corporation (Japan)
• Hologic, Inc. (US)
• Iworx Systems, Inc. (US)
• RJL Systems, Inc. (US)
• GE Healthcare (UK)
• Parvo Medics (US)
• InBody Co., Ltd. (South Korea)
• Mindray Medical International Limited (China)
• Jawon Medical Co. Ltd. (South Korea)
• Omron Healthcare, Inc. (US)
• Laica SpA (Italy)
• Schiller AG (Switzerland)
• Geratherm Medical AG (Germany)
• MGC Diagnostics Corporation (US)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.