The global medical pendant market was valued at USD 483.3 million in 2021 and it is anticipated to grow up to USD 768.2 million by 2031, at a CAGR of 4.7% during the forecast period.
Medical pendant, also called as surgical boom or ceiling pendant are designed to offer support for other equipment throughout the surgical procedures in operating room or in facilitating operations in the intensive care units (ICU). Medical pendant is developed to ergonomically centralize the procedural support equipment and utility services for surgeons & operating room staff. These devices are used in healthcare settings to facilitate easy access to medical gases including oxygen, nitrogen, & carbon dioxide and electrical power.
View The Full Report Here – https://www.globalinsightservices.com/reports/medical-pendant-market/
Market Trends and Drivers
Technological advancements are expected to create several industry growth opportunities, driving market potential in the coming years. With the ongoing advancements in virtual reality technology, as well as the continual development and enhancements in medical equipment, the adoption rate and usability of these devices have increased. The incorporation of virtual reality technology onto these devices has significantly improved the user experience and product usefulness. Such advancements have accelerated the use of medical pendants in a variety of professions, including surgery, gynaecology, obstetrics, endoscopy, and other medical specialties.
Moreover, new product launches by leading market competitors are expected to increase the growth of the medical pendant market. MediBoom, for example, is a single-arm mobile surgical pendant manufactured by Ondal Medical Systems GmbH that may be integrated with the M6 MediSound-System. This mechanism is made of an unique antibacterial composite that is resistant to bacterial development, which increases user safety. Thus, the integration of novel technologies and the launch of innovative products by key industry players is expected to promote medical pendant usage in the future years.
Unlock Growth Potential in Your Industry – Get Your Sample Report Now– https://www.globalinsightservices.com/request-sample/GIS24324
Market Restraints and Challenges
High cost of medical pendant may negatively impact the industry growth. Medical pendant being a capital equipment, requires considerable investment. The high cost of acquisition of medical pendant hampers its adoption rate, especially in the emerging markets. For instance, an average cost of a multi-arm pendant is more than USD 2,000. While the acquisition cost of a high-end fixed pendant or an ICU bridge pendant is around USD 8,000 and onwards. These are only the costs associated with acquiring the device, the maintenance costs add to the additional costs of these units. Furthermore, in low-middle income countries, such a high cost of equipment limits majority of the healthcare practitioners from opting for the product. Thus, high cost of the device may impede the medical pendant industry growth.
Global Medical Pendant Market Segmental Overview
By Product
- Fixed Pendants
- Movable Pendants
By Installation
- Ceiling Mounted Pendants
- Wall Mounted Pendants
- Others
By Application
- Intensive Care Unit (ICU)
- Surgery
- Anesthesia
- Endoscopy
- Others
By End-user
- Hospital
- Ambulatory Surgical Centers
- Others
Unlock Insights: Request Your Customizable Report Today – https://www.globalinsightservices.com/request-customization/GIS24324
Global Medical Pendant Market by Product
Based on the product, the market is segmented as fixed pendants and movable pendants. Of these, the movable pendants segment registered largest revenue share in 2021. This significant market share is due to the growing popularity and adoption of movable pendants. Movable pendant systems include single-arm and multi-arm medical pendant systems with pneumatically actuated brakes that allow for variable movements and optimum performance. Furthermore, some of these systems offer easier sterilisation and changeable height arms for greater versatility. As a result, healthcare practitioners prefer mobile pendant systems over fixed pendant systems. The aforementioned variables are expected to considerably contribute to industry growth.
Global Medical Pendant Market by Installation
By installation, the industry is divided into ceiling mounted pendants, wall-mounted pendants, and others. . The ceiling mounted pendants segment accounted for significant business share in 2021 and is projected to witness robust growth over the analysis timeframe. This substantial market share is primarily due to the multiple clinical benefits provided by ceiling mounted pendants. Ceiling pendants are designed to provide simple access to medical electrical outlets, gas supply, and data connectivity, and are commonly used in operating rooms and intensive care units. Ceiling pendants have a rotational design that allows for horizontal movement and can be controlled by an electric motor using an intermediate position. As a result, various clinical advantages are expected to boost the market outlook.
Global Medical Pendant Market by Application
Based on applications, the medical pendant industry is categorized intensive care unit (ICU), surgery, anesthesia, endoscopy, and others. The intensive care unit (ICU) segment accounted for lucrative market share in 2021. The growing prevalence of chronic illnesses, as well as the increasing utility of ICU in critical disease care and treatments, are driving this market share dominance. The rising prevalence of chronic diseases such as respiratory problems, trauma, surgical site infection, and cancer has resulted in a significant increase in ICU admissions. For instance, according to the National Hospital Ambulatory Medical Care Survey, the emergency department saw roughly 130 million visits in 2018, with approximately 2.3 million patients admitted to the intensive care unit. As a result, the growing number of patients suffering from chronic diseases is likely to boost demand for medical pendants in ICUs in the near future.
Buy Now- https://www.globalinsightservices.com/checkout/single_user/GIS24324
Global Medical Pendant Market by End-user
Based on the end-user, the industry is categorized into hospitals, ambulatory surgical centers, and others. Among these, the hospital segment is expected to depict significant CAGR from 2022 to 2030. This dominance is due to rising hospital admissions, higher healthcare spending, and rapid adoption of these technologies in hospitals. The patient choice for these healthcare facilities will be driven by the high adoption rate of innovative gadgets enabling superior post-surgical care. Other factors driving hospital segment expansion include rising admissions, an increase in the prevalence of critical conditions and trauma events, and the availability of competent healthcare staff. Furthermore, the COVID-19 pandemic has increased hospital acceptance of this medical equipment, fueling market growth during the coming years.
Geographical Analysis of Global Medical Pendant Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America medical pendant market captured significant market share in 2021 and is poised to grow substantially during the forthcoming years. The considerable market share is due to numerous factors, including a high need to optimise clinical workflow, an increase in the frequency of chronic illnesses, and rising healthcare expenditure to develop healthcare infrastructure across the country. According to the National Health Expenditures 2017, health-care spending in the United States increased by 3.9% to roughly USD 3.5 trillion. Furthermore, hospital care expenditures climbed by 4.6%, accounting for 33% of total spending. Increased healthcare spending is predicted to encourage product adoption to improve clinical workflow efficiency across the country.
Major Players in the Global Medical Pendant Market
The key players in the market Amico Corporation, BeaconMedaes, Bejing Aeonmed, Dragerwerk AG, Hutz Medical, INMED-Karczewscy, MEDGAS-Technik Gmbh, Mediland , Ondal Medical Systems, and Unicorn Medicals, among others.
COVID-19 Impact
The COVID-19 pandemic emerged as an unprecedented public health hazard, causing enormous disease burden and financial adversity in a variety of industrial sectors. Many industries, including healthcare, saw major shifts in 2020. Hospital admissions and healthcare services were provided to COVID-19 infected individuals, with the bulk of other surgical interventions suspended. The United States government declared a national emergency and ordered the postponement of many non-emergency medical operations in hospital settings. As a result, several medical operations in various nations have been delayed.
Despite these improvements, the pandemic has resulted in increased use of ICU and increased need for medical pendants that give critical medical gases such as oxygen. Furthermore, the World Health Organization (WHO) offered revised advice focusing on strengthening healthcare systems and infrastructure during the COVID-19 pandemic. These innovations increased the demand for improved healthcare settings, facilitating market expansion.
Recent Developments
- In March 2020, AEONMED Group acquired Heyer Medical AG, a medical device manufacturer of anesthesia machines and medical ventilators. This strategic acquisition helped the company to gain competitive advantage and strengthen its industrial position.
- In July 2019, Atlas Copco (parent company of BeaconMedaes LLC) has acquired the operating assets of MGES Inc., a service supplier of medical gas solutions including distribution and service of medical gas systems. This backward integration strategy assisted the company in bolstering its business operations.
Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
With Global Insight Services, you receive:
10-year forecast to help you make strategic decisions
- In-depth segmentation which can be customized as per your requirements
- Free consultation with lead analyst of the report
- Infographic excel data pack, easy to analyze big data
- Robust and transparent research methodology
- Unmatched data quality and after sales service
Contact Us:
Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.