The global medical pendant market is projected to increase from a valuation of US$ 496.2 million in 2022 to US$ 652 million by 2027 and Expanding at a CAGR of 5.6%. Says Fact.MR, a market research and competitive intelligence provider, in its latest publication.
A medical pendant is a kind of system that can be configured in several ways to meet specific hospital needs. Medical pendants can accommodate all electrical services, data communication services, medical gas, and equipment management by having a variety of arms.
The activities and functioning of medical professional teams are made safer and better by incoming electricity and gas supplies coming from the ceiling to reduce cable clutter. The medical pendant system’s moveable arm allows it to be placed precisely where the operating team needs it, and these arms can accommodate any operating room’s needs. Growing healthcare professional awareness and the need for a secure and risk-free workplace for medical workers are the main drivers of the global market for medical pendants.
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Accurate and efficient outcomes in a variety of application areas, including operations and endoscopy, are primarily responsible for the growth of the market. However, the high cost of setting up a medical pendant system and the shortage of qualified nursing staff are the two main factors that are limiting market growth to some extent. Due to a faster adoption rate by medical organizations all over the world, fixed and fixed retractable pendants are anticipated to see demand increase at a healthy CAGR in terms of value.
Due to the availability of technologically advanced medical pendant solutions, an increase in healthcare spending in the region, and the presence of well-developed healthcare and medical infrastructure, North America dominates the global market for medical pendants. Asia Pacific is another region that is anticipated to offer exceptional growth prospects for medical pendant manufacturers over the coming years.
Key Takeaways from Market Study
- The global market for medical pendants is expected to expand at a CAGR of 5.6% from 2022 to 2027.
- The market is projected to reach US$ 652 million by the end of 2027.
- China’s medical pendant market is predicted to rise rapidly at a CAGR of 9% from 2022 to 2027.
- Global sales of fixed medical pendants are expected to increase at a significant CAGR of 5.5% during the next 5 years.
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Amico Corporation, BeaconMedaes, Beijing Aeonmed, MEDGAS-Technik Gmbh, Mediland, and Ondal Medical Systems are key suppliers of medical pendants.
For market expansion, these players put strong emphasis on strategic alliances, new product launches, and commercialization. Additionally, market players are making significant investments in research to enable them to launch novel technologies and generate the greatest possible revenue.
- Heyer Medical AG, a producer of anaesthetic machines and medical ventilators, was purchased by AEONMED Group in March 2020. The company was able to strengthen its industrial position and obtain a competitive edge due to this strategic acquisition.
There are several significant participants in the moderately fragmented medical pendant industry. Market players are implementing a variety of growth strategies, including the launch of cutting-edge technologies and partnerships, mergers, acquisitions, and expansions.
- The operating assets of MGES Inc., a service provider of medical gas solutions comprising the service and distribution of medical gas pendants, were bought by Atlas Copco (the parent company of BeaconMedaes LLC) in July 2019. The corporation was able to strengthen its business operations thanks to this backward integration method.
- The WellBe Pendant, an innovative medical alert pendant with cutting-edge technologies to recreate how we call for assistance, locate dear ones, and interact in emergencies, was released in September 2021 by HandsFree Health, the creator of WellBe.
Medical Pendant Industry : Key Suppliers
- Elektra Hellas S.A
- Brandon Medical Co. Ltd
- Skytron LLC
- Tedisel Medical
- Ondal Medical Systems GmbH
- Megasan Medikal
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Key Segments in Medical Pendant Industry Research
- By Product:
- Fixed Retractable
- Single Arm Movable
- Double & Multi-arm Movable
- By Application:
- Intensive Care Units
- By End User:
- By Region:
- North America
- Latin America
- East Asia
- South Asia & Oceania
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global medical pendant market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of product (fixed, fixed retractable, single arm movable, double & multi-arm movable, accessories), application (surgeries, endoscopies, anesthesia, intensive care units, others), and end user (hospitals, clinics, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.
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