North America to Dominate the Global Medical Pendant Market till 2026
Increasing number of hospitals and rising geriatric population is expected to drive the demand for global medical pendant market in the forecast period.
According to TechSci Research report, “Global Medical Pendant Market By Product Type (Fixed, Fixed Retractable, Single Arm Movable, Double & Multi-arm Movable) By Application (Surgery, Endoscopy, Anesthesia, Intensive Care Unit (ICU), Others) By Capacity (Low Duty, Medium Duty, Heavy Duty) By End User (Hospitals & Clinics, Ambulatory Care Centers, Others) By Company, By Region, Forecast & Opportunities, 2026”, The global medical pendant market is expected to witness steady growth for the upcoming five years. Medical pendant is basically used for keeping crucial medical devices and objects while performing surgeries by healthcare professionals. Medical pendants consisting of high number of gas service and electrical point and huge application of electronic devices during surgical procedures is fueling the demand of this segment.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected several countries adversely. Leading authorities-imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. The demand for critical care devices increased during this period. Also, the need for infection prevention and ensure highest safety during surgical procedures increase the demand for medical pendants during the forecast period.
However, high cost of medical pendants may create hindrance in the global medical pendant market growth.
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Global medical pendant market is segmented into product type, application, capacity, end user, end user, regional distribution, and company. Based on product type, market can be divided into fixed, fixed retractable, single arm movable, and double & multi-arm movable. The fixed product type segment is expected to account for major market share for the forecast period, 2022-2026. Fixed medical pendant system can be easily installed, light weight and cost-effective in nature. High rate of adoption of medical pendants in endoscopy, intensive care units, surgeries and anesthesia is expected to fuel the demand for fixed medical pendant.
Based on application, market can be fragmented into surgery, endoscopy, anesthesia, intensive care unit (ICU), and others. The surgery application segment is expected to dominate the market for the next five years due to increase in the number of surgical procedures being performed across the globe. Based on capacity, market can be divided into low duty, medium duty, and heavy duty. The low duty capacity segment is expected to hold significant share for the predicted period. Low duty medical pendant is easy to maintain and use as compared to heavy duty medical pendant. Low duty pendant requires minimal maintenance and is more cost-effective than its counterparts. It is in high demand from small healthcare facilities and clinics which is further boosting the demand for this segment.
Based on end user, market can be fragmented into hospitals & clinics, ambulatory care centers, and others. The hospitals & clinics segment is expected to account for largest market share fir the forecast period. Increase in number of hospital facilities along with use of specialized medical pendants in intensive care units and operation theatres is accelerating the demand for hospital segment. Hospitals are equipped with latest medical devices and equipment to meet patient’s requirement.
Brandon Medical Co. Ltd, Dragerwerk AG & Co. KGaA, Steris Plc., Ondal Medical Systems GmbH, Elektra Hellas SA, Beacon Medaes LLC, Tedisel Medical S.L., Amico Corporation are the leading players operating in global medical pendant market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several medical pendant manufacturers are coming up with their technologically advanced offerings.
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“High-end investment by major market players to upgrade the existing infrastructure and technological advancement of the medical pendant device such as latest medical is resistant to bacteria as it is made up of antibacterial material. Also, the launch of multi-purpose medical pendants consisting of long vertical consoles and are equipped with rails and shelves which provide a wider workspace area is expected to influence the medical pendant market demand. Rise in the number of surgeries being performed in healthcare facilities along with technological advanced products is anticipated to propel the market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Medical Pendant Market By Product Type (Fixed, Fixed Retractable, Single Arm Movable, Double & Multi-arm Movable) By Application (Surgery, Endoscopy, Anesthesia, Intensive Care Unit (ICU), Others) By Capacity (Low Duty, Medium Duty, Heavy Duty) By End User (Hospitals & Clinics, Ambulatory Care Centers, Others) By Company, By Region, Forecast & Opportunities, 2026” has evaluated the future growth potential of global medical pendant market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global medical pendant market.
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