Medical Pendant Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.
The growth graph of the global medical pendant market is characterized by an inherent number of R&D initiatives and other moves undertaken by industry players to bring forth newer products to the mainstream. Recently, a Finnish research team developed a necklace featuring a pendant using which patients can screen themselves to detect abnormal heart rhythms. The pendant is fitted with a portable electrocardiogram (EKG) that is used to transmit readings to an app on the phone as well as a cloud-based server, after which the information is fed into an AI algorithm and diagnostic results are calculated.
This is just one example out of the many that can be depicted to validate the expanse of medical pendant market. In recent times, this medical device has taken the healthcare sector by storm. A medical pendant ensures convenient positioning of medical equipment as well as other instruments across hospitals, clinics, and surgery centers. With increasing number of healthcare establishments across the globe and rising hospital admissions, the demand for medical pendants is surging more than ever.
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Medical pendants also have an important role to play in the maintenance of efficient workflows in hospitals. They are designed to ensure a safe connection to data networks and power and also to medical gas supplies, thereby lending a convenient platform for medical devices.
As per GMI, Inc., medical pendant market size is expected to cross USD 680 million by 2026, with a targeted CAGR of 7.2% between 2020 and 2026. The growth can be credited to the robust emergence of advanced technologies pertaining to medical devices worldwide alongside the rising number of hospitals. In the U.S. alone, around 60% of the patients admitted to hospitals undergo some form of surgery. Since medical pendants help improve infection control and safety in operating theaters, they are majorly demanded across hospitals.
Among the many end-users of medical pendant market, ambulatory surgical centers segment is expected to gain traction through 2026. This can be attributed to the rise in the number of minimally invasive surgeries as well as the technological developments in surgical instruments. Estimates claim that medical pendant market size from ambulatory surgical centers segment was worth USD 119 million in 2019.
In terms of installation, medical pendant market is segmented into wall mounted pendant, ceiling mounted pendant, and others. Estimates claim the wall mounted pendant segment to have held a revenue share of close to 14% in 2029. This can be attributed to the fact that wall mounted medical pendants adhere to the required standards of hygiene and cleanliness, which is a mandatory need in hospitals and other healthcare establishments to avoid the risk of infection.
Wall mounted pendants, as a rule, are deployed in intensive therapy, small operating theaters, anesthesiology, and emergency wards. They are manufactured in three models – vertical wall pendant, hidden installation wall pendant, and wall pendant. The fact that this type of installation offers a variety has further led to an increase in the product demand since the last few years.
With respect to the product spectrum, medical pendant industry is segmented into movable and fixed pendants. Of these, the fixed pendants seem to have gained massive popularity worldwide. As per estimates, fixed medical pendant market share was worth USD 133 million in 2019, driven by the product’s advantages such as easy installation procedures and stronger lifting capacity, on account of which it has been heavily deployed across operation theaters and critical care units.
Application-wise, the general surgery or operating theaters segment is anticipated to depict a CAGR of 7.2% through 2026, propelled by the increasing number of surgical procedures globally. Statistics published by Eurostat, in 2017, claim that around 1.4 million C-sections were performed across European Union (EU).
Germany is expected to emerge as a pivotal revenue pocket for medical pendant market. The region boasts of the presence of a sophisticated healthcare infrastructure and the rising demand for medical supply systems across healthcare establishments. Estimates claim Germany medical pendant market size to be valued at USD 28 million in 2019 with an appreciable anticipated CAGR through 2026. Not to mention, the presence of numerous industry players in the region will also be responsible for augmenting Germany market growth through 2026.
BeaconMedaes, INMED-Karczewscy, Ondal Medical Systems, Amico Corporation, Bejing Aeonmed, Hutz Medical, Dragerwerk AG, Mediland, and MEDGAS-Technik Gmbh are some of the prominent players in medical pendant market. Most of these vendors focus on bringing forth innovative products to the mainstream.
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Partial Chapter of the Table of Content
Chapter 4. Medical Pendant Market, By Product
4.1. Key segment trends
4.2. Fixed Pendant
4.2.1. Market size, by region, 2015 – 2026 (USD Million)
4.2.2. Market size, by region, 2015 – 2026 (Units)
4.3. Movable Pendant
4.3.1. Market size, by region, 2015 – 2026 (USD Million)
4.3.2. Market size, by region, 2015 – 2026 (Units)
4.3.3. Single-arm Movable Pendant
126.96.36.199. Market size, by region, 2015 – 2026 (USD Million)
188.8.131.52. Market size, by region, 2015 – 2026 (Units)
4.3.4. Multi-arm Movable Pendant
184.108.40.206. Market size, by region, 2015 – 2026 (USD Million)
220.127.116.11. Market size, by region, 2015 – 2026 (Units)
Chapter 5. Medical Pendant Market, By Installation
5.1. Key segment trends
5.2. Ceiling Mounted Pendant
5.2.1. Market size, by region, 2015 – 2026 (USD Million)
5.2.2. Market size, by region, 2015 – 2026 (Units)
5.3. Wall Mounted Pendant
5.3.1. Market size, by region, 2015 – 2026 (USD Million)
5.3.2. Market size, by region, 2015 – 2026 (Units)
5.4.1. Market size, by region, 2015 – 2026 (USD Million)
5.4.2. Market size, by region, 2015 – 2026 (Units)