iCrowdNewswire Jan 22, 2021 5:00 AM ET
Medical pendants are wireless devices that alert healthcare professionals if the wearer has an attack of certain diseases. The increasing adoption of advanced technology in the healthcare sector is the major driver for the global medical pendant market. Medical pendants are among the most advanced medical technologies available to man, as they combine medical diagnostic capabilities with the wireless communication technology needed to alert healthcare professionals.
The global medical pendant market is expected to exhibit a solid 7% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The global medical pendant market is expected to grow from a valuation of USD 95.18 million to USD 149.01 million by the end of 2023.
The report provides a detailed overview of the global medical pendant market, including a review of the major drivers and restraints affecting the global market. The impact of the COVID-19 pandemic on the global medical pendant market is also assessed in the report.
North America is the largest regional market for medical pendants and is likely to dominate the global market over the forecast period. The high healthcare expenditure in North America is the prime driver for the medical pendant market in the region. The high disposable income of patients in the region is also a crucial driver for the medical pendant market, as high amounts of investment is needed to install a medical pendant.
Asia Pacific is the fastest growing regional market for medical pendants. Growing awareness about medical pendants is likely to be a major driver for the medical pendant market in Asia Pacific over the forecast period.
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Leading players in the global medical pendant market include BeaconMedaes, Surgiris, Starkstrom, Brandon Medical Co. Ltd., Tedisel Medical, Medimax Korea Co. Ltd., Elektra Hellas SA, Megasan Medikal, Ondal Medical Systems GmbH, and Skytron LLC. Major players in the global medical pendant market are likely to engage in technological innovation in the coming years, in order to come up with solutions that are easier to fit on humans and cheaper to boot.
The global medical pendant market is segmented based on product, application, and region.
By product, the global medical pendant market is segmented into fixed pendants, fixed retractable pendants, single arm movable pendants, double and multi-arm movable pendants, and accessories. Fixed pendants hold the largest share in the global medical pendant market due to their convenience and their older development, which has led to widespread adoption.
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By application, the global medical pendant market is segmented into hospital, clinics, and others. The hospital segment is further sub-segmented into intensive care unit (ICU), operating theater (OT) and recovery room (RR), and emergency room (ER). The clinics segment is the fastest growing segment of the global medical pendant market.
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