Medical Pendant Market Research Report Information by Product (Fixed Pendants, Fixed Retractable Pendants, Single Arm Movable Pendants, Double & Multiarm Movable Pendants, Accessories), Application (Hospital, Clinics, Others) and Region - Forecast To 2030
ID: MRFR/MED/5218-HCR | 100 Pages | Author: Kinjoll Dey | June 2023
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Medical Pendant Market
Medical pendants is estimated to attain a valuation of over USD 695 million by 2030, at a CAGR of approximately 6.30% during the forecast 2022-2030.
$695 million
6.30%
North America
2022-2030
Medical Pendant Market Overview
As per the research reports by MRFR, the global market for medical pendants is estimated to attain a valuation of over USD 695 million by during the forecast year, says market research future (MRFR). Furthermore, the market is likely to flourish at a healthy CAGR of approximately 6.30% during the assessment era from forecast 2022-2030. A medical pendant is a wireless gadget designed to alert healthcare providers to the presence of a medical emergency or hazard that requires rapid attention. Such systems are costly and require specialists to operate and install properly. Medical pendants are classified as either passive or active alert devices. Active systems require user input to activate the alarm, whereas passive devices monitor the wearer and trigger alarms based on lack of activity. The medical pendant allows for the proper placement of terminal units, specialist and electrical services, medical equipment, and medical gas, thereby addressing hospital needs. In recent years, the global market for medical pendants has experienced tremendous expansion. The growing demand for low-risk and safe workspace for the medical workforce is driving the Medical Pendant Market's expansion. Furthermore, in the assessment era, factors such as effective results in surgery and endoscopy, increased need for medical pendant systems in operating rooms and intensive care units, and technical advances and innovations are expected to enhance the Medical Pendant Market's growth. Furthermore, increasing the number of surgeries and strengthening healthcare infrastructure for improved workflow are driving the market's growth. As a result of the increase in surgical procedures, demand for medical pendant systems is expected to rise, adding to the Medical Pendant Market growth.
The global medical pendant market has been segmented on the basis of product, application, and region.
Based on product, the global market has been segmented into fixed pendants, fixed retractable pendants, single arm movable pendants, double & multi-arm movable pendants, and accessories. Among these, the fixed pendants hold the largest market share, whereas the single arm moveable pendants account for the fastest growing segment.
Based on application, the global market has been segmented into hospital, clinics and others. The hospital segment is further sub-segmented into intensive care unit (ICU), operating theatre (OT) & recovery room (RR), and emergency room (ER). Among these, the clinics segment is expected to be the fastest growing segment.
Regional Analysis
The global medical pendant market span across major four regions, namely Europe, Americas, Asia Pacific, Middle East & Africa.
North America is one of the leading regions in the Americas medical pendant market and is anticipated to lead the market in terms of revenue. This can be attributed to the presence of world class healthcare infrastructure, top notch healthcare practices, advanced facilities, and strict mandates from the regulating authorities.
Asia Pacific is considered to exhibit the fastest growth due to the rapid growth in the healthcare infrastructure, government initiatives and focus on better healthcare practices, and increased spending owing to the increasing medical tourism industry.
Key Players
- Comprise Skytron LLC
- Ondal Medical Systems GmbH
- Megasan Medikal
- Elektra Hellas S.A
- MEDIMAXKOREA
- Tedisel Medical
- Brandon Medical Co. Ltd
- Starkstrom
- Surgiris, and BeaconMedæs.
Research Methodology
Data analysts at Market Research Future ensure objective analysis of the market while preparing market research reports by engaging set of standards which allow a comprehensive view of the market and its several components. Several factors comprising economic growth, government expenditure, supply channels and distribution channels have been scrutinized effort to relay precise information. Also, market-size estimation and validation use top-down and bottom-up approaches in order to obtain data from the demand and supply side. Analysis of data have been performed by using research framework suited to the specific industry. The frameworks are developed by the MRFR team which serves as a research standard that provides tools to create dependable market reports.Recent Development
Skytron LLC introduced the new Freedom Boom medical pendant system in December 2020, which features improved features like no brakes or buttons to push toward pendant arms, Skytron's unique Active Assist technology, limited space options, and advanced operation rooms with the ability to change components without removing the entire medical pendant structure. It also has additional electrical and gas utility outlets. Steris PLC announced in November 2020 that it had completed the previously announced acquisition of Key Surgical. The company's product portfolio was reinforced and expanded globally as a result of the acquisition.
Global Medical Pendant Market by Product
- Fixed Pendants
- Fixed Retractable Pendants
- Single Arm Movable Pendants
- Double & Multiarm Movable Pendants
- Accessories
Global Medical Pendant Market by Application
- Hospital
- Clinics
Global Medical Pendant Market by Region
- Europe
- Americas
- Asia Pacific
- Middle East & Africa
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 695 million |
| CAGR | 6.30% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Skytron LLC, Ondal Medical Systems GmbH, Megasan Medikal, Elektra Hellas S.A., MEDIMAXKOREA, Tedisel Medical, Brandon Medical Co. Ltd., Starkstrom, Surgiris, and BeaconMedæs |
| Key Market Opportunities | medical pendant systems in operation theatres and intensive care units |
| Key Market Drivers | Technological advancements and innovations allowing medical systems to move on as required by the press of a button are further influencing the market growth |
Frequently Asked Questions (FAQ) :
The medical pendant market is projected to grow at a 6.30% CAGR by 2030.
The medical pendant market is predicted to touch USD 695 million by 2030.
North America is projected to command the largest share in the medical pendant market.
The clinic segment will lead the medical pendant market.
High cost may limit market growth.
Key Questions Answered
- ✅ Global Market Outlook
- ✅ In-depth analysis of global and regional trends
- ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅ To understand the capability of the major players based on products offered, financials, and strategies.
- ✅ Identify disrupting products, companies, and trends.
- ✅ To identify opportunities in the market.
- ✅ Analyze the key challenges in the market.
- ✅ Analyze the regional penetration of players, products, and services in the market.
- ✅ Comparison of major players’ financial performance.
- ✅ Evaluate strategies adopted by major players.
- ✅ Recommendations
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