The medical pendant market had a value of USD 423.67 million in 2022 and is anticipated to grow at a CAGR of 6.3% to reach USD 778.76 million by 2032.
Report Attribute
Details
Medical Pendant Market Value (2022)
US$ 423.67 Million
Medical Pendant Market Anticipated Value (2032)
US$ 778.76 Million
Medical Pendant Market Growth Rate (2022 to 2032)
6.3% CAGR
Increasing healthcare and medical professionals, as well as the number of hospitals, clinics, and other medical facilities, as well as rising consumer demand for medical pendants are some of the important factors driving the global market for medical pendants. Furthermore, it is anticipated that in the next years, the market for medical pendants will have strong demand due to the increasing integration of new technologies and the release of these cutting-edge products. The global medical pendant market is anticipated to increase over the next few years due to the increasing utilization of products in fields like surgery, endoscopy, gynecology, obstetrics, anesthesia, and other medical specialist domains.
During the forecast period, the market for these systems is anticipated to develop as a result of quick technical improvements and innovations in medical pendants. For instance, technological advances have made it possible for button-enabled medical pendants to facilitate the user's arm movement. Commercially accessible medical pendants with numerous multifaceted designs and extremely versatile combinations are primarily intended to satisfy certain healthcare needs.
Government efforts to strengthen healthcare infrastructure are also a significant trend in the market for medical pendants. The potential demand for inpatient room care facilities has increased due to the demand for specialized healthcare services in developing economies. The demand for better room care services has been driven by the strong trend of payment for a number of operations in daycare and patient settings. In addition, healthcare experts claim that a major trend fuelling the potential for revenue growth in the medical pendant market is the recent rise in the population of elderly people.
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Restraints & Challenges
Medical pendants' high prices may have a detrimental effect on the industry's expansion. A medical pendant is an expensive capital item to buy. Medical pendant adoption is hampered by their high procurement costs, particularly in developing economies. For instance, a multi-arm pendant often costs more than USD 2,000. A high-end fixed pendant or an ICU bridge pendant costs roughly USD 8,000 and up to purchase. These are merely the upfront charges for the gadget; ongoing maintenance expenses raise the overall cost of these units. Additionally, in low-middle-income nations, most medical professionals are discouraged from purchasing the product due to the expensive cost of the equipment. As a result, the device's high price may limit the expansion of the medical pendant sector.
The medical pendant systems provide appropriate positioning of medical equipment, terminal units, medical gas, specialty and electrical services. Medical pendant systems are mounted on the ceiling with the robust carcass system consisting of stainless steel flanges and supporting rods.
Medical pendant is the compact system with various configurations to fulfill exact requirements of hospital. Medical pendants have various number of arms which can be help to accommodate all electrical services, medical gas, data communication services and facilitating equipment management.
Incoming electrical and gas services from ceiling to minimize the cable clutter provide a safer and cleaner place for the movement and activity of medical professional teams. The movable arm of medical pendant system allows it to be located at exactly where it is most suitable for the operating team and these arms cover the requirement of any operation theatre.
Medical pendants make medical tasks and procedures easier, while ensuring safety while placing monitoring equipment. Medical pendants are designed to maximize space in the operation theatre for operations and critical care areas to improve accessibility around the patient bed thereby enabling healthcare staff to deliver effective patient care.
Medical Pendant Market: Drivers and Restraints
The primary factor for the growth of global medical pendant market is growing awareness in the healthcare professionals andrequirement of safe and low risk work space for medical staff. Medical pendant systems are highly useful in operation theatres or in intensive care unit.
The growth of medical pendant market is primarily attributed to accurate and effective results in various application areas such as surgeries and endoscopy. Major factor which limits the growth of the global medical pendant market is high cost of medical pendant system setup and unavailability of skilled nursing staff.
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Medical Pendant Market: Overview
Medical pendant systems are designed to remove standing devices from the operation floor around the patient bed. The unique design of medical pendant systems enables mounting of a number of medical devices in a compact space. The maximum range of movement enables quick, easy positioning of service and provides safety control while minimizing the infection risk. Medical pendant systems decrease the visual impact in the patient environment, increasing the capacity of equipment load and improving equipment access.
Medical pendant systems allow various devices to be connected with it such as electrical supply, lighting, communication equipment, gas and liquid supply and rail system for installations of equipment. Medical pendant systems design enable different combinations and resources that fulfill the special needs and expectations of operating rooms in hospitals.
Fixed Retractable Pendants and Double Multi Arm Movable Pendant product type segments are expected to register highest CAGRs in terms of value owing to faster adoption among the medical communities worldwide.
Medical Pendant Market: Region-wise Outlook
The global medical pendantsystem market is expected to register a healthy CAGR for the forecast period. Depending on geographic region, global medical pendant systemmarket is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
North America held largest share in the global market of medical pendant systemfollowed by Europe, Japan and Asia Pacific owing to the need for increasing the standard of healthcare infrastructure coupled with substantial investments. The developing nations in APAC and MEA hold huge potential for growth in the global medical pendant systemmarket, due to the convenience it offers in hospitals and ambulatory surgical centers.
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Medical Pendant Market: Key Players
Some of the key participating global players in medical pendant systemsmarket are ELEKTRA HELLAS, Starkstrom, Ondal, Hipac, Beacon Medaes, Unicorn Medicals, Medilon, Uttam, Medimax, Brandon Medical.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on
Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (U.S., Canada)
Latin America (Mexico, Brazil, Rest of Latin America)
Western Europe (Germany, Italy, U.K, Spain, France, Rest of Western Europe)
Eastern Europe (Poland, Russia, Rest of Eastern Europe)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, Rest of MEA)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Medical Pendant Market: Segmentation
Global medical pendantmarket is classified on the basis of product type, application and geography
Based on product type, the global medical pendant market is segmented into the following:
Fixed Pendants
Fixed Retractable Pendants
Single Arm Movable Pendant
Double Multi Arm Movable Pendant
Based on application, the global medical pendant market is segmented into the following:
Surgery
Endoscopy
Anaesthesia
Intensive care Units
Frequently Asked Questions
What is the Growth Outlook for Medical Pendant Market?
The market is likely to register a CAGR of 6.3% through 2032.
What is the Current Valuation of the Market?
The market is currently valued at US$ 423.67 Mn in 2022.
How is the Future of the Market?
The market is likely to grow to a valuation of US$ 778.76 Mn by 2032.
Which is the Leading Region in the Market?
North America is likely to be a leading market during the forecast period.
