Vancouver, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The global medical pendant market size was USD 399.1 Million in 2022 and is expected to register a rapid revenue CAGR of 6.1% during the forecast period. Rising prevalence of chronic diseases and Research & Development (R&D) investments and rising number of healthcare professionals, clinics, hospitals, and other healthcare centers globally, and technological advancements in medical pendants are key factors driving market revenue growth. Medical pendant is designed to economize ward space by keeping equipment clean and elevating it above the floor.
Provision of adaptability and functionality make these medical pendants vital in providing effective and timely healthcare services. For instance, according to the World Health Organization (WHO), chronic disease accounts for 60% of all deaths across the world. These Cardiovascular Diseases (CVDs) together cause around 17.9 million deaths every year globally.
Moreover, increasing clinical trials due for R&D in emerging countries and rising expenditures for infrastructure development, labs, and research facilities worldwide are also expected to drive revenue growth of the market. For example, on 7 November, 2023, TELUS Health unveiled a next-generation Medical Alert Pendant, specifically designed for older adults, which will ensure 24/7 emergency support, allowing confident aging in place. The pendant is complemented by a Caregiver App, providing caregivers with real-time updates on the user's daily routines, mobility, and whereabouts.
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However, lengthy approval processes and high costs involved in their implementation are key factors, which could restrain market revenue growth. Standards of regulations and the possibility of newer rules being implemented have posed a challenge for medical automation across the world. In addition, lack of trained professionals is another factor, which could also restrain market revenue growth.
Segment Insights:
Product Insights:
On the basis of product, the global medical pendant market is segmented into fixed, fixed retractable, single arm movable, double & multi-arm movable, and accessories. The fixed segment accounted for largest revenue share in the global medical pendant market in 2022 owing to increasing adoption fixed medical pendants in surgeries, endoscopy, anesthesia, and Intensive Care Units (ICUs). A fixed pendant system offers numerous connectors for attaching ventilators, supplying gas, etc. In hospitals, this system plays a critical supportive role in preserving safety and reducing the risk of contamination, which is commonly used in recovery rooms and ICUs.
Application Insights:
On the basis of application, the global medical pendant market is segmented into surgery, endoscopy, anesthesia, Intensive Care Unit (ICU), and others. The surgery segment is expected to account for significantly large revenue share in the global medical pendant market during the forecast period owing to rising number of surgical procedures. For instance, in July 2020, according to the Article-Trauma of Major Surgery published in the National Center for Biotechnology Information (NCBI), around 310 million major surgeries are carried out every year worldwide.
Regional Insights:
The North America market accounted for largest revenue share in the global medical pendant market in 2022. This is because medical pendants are often employed in North American healthcare settings because of their capacity to optimize space, speed operations, and improve patient care. These devices suspend critical medical equipment, allowing for fast access while freeing up floor space, which help to maintain patient safety by reducing dangers and are easily adaptable to changing room requirements. In addition, these devices enhance overall healthcare delivery by integrating technology and facilitating data transfer and connection and their multiple benefits make these vital in developing efficient, safe, and adaptive healthcare facilities throughout the area.
The Asia Pacific market is expected to register fastest growth rate in the global medical pendant market over the forecast period due to increasing population in China and India and rising healthcare costs, Medical automation is in high demand due to quick speed of technology breakthroughs and industrial expansion in these fields. In addition, increasing healthcare awareness and rapidly aging population are also expected to drive market revenue growth of this region during the forecast period.
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Scope of Research
| Report Details | Outcome |
| Market Size in 2022 | USD 399.1 Million |
| CAGR (2023–2032) | 6.1% |
| Revenue Forecast To 2032 | USD 719.8 Million |
| Base Year For Estimation | 2022 |
| Historical Data | 2019–2021 |
| Forecast Period | 2023–2032 |
| Quantitative Units | Revenue in USD Million and CAGR in % from 2023 to 2032 |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | Product, application, capacity, end-use, and region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Country Scope | U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Russia, Rest of Europe, China, India, Japan, South Korea, ASEAN Countries, Oceania, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa |
| Key Companies Profiled | Megasan Medikal, Ondal Medical Systems GmbH, Tedisel Medical, MEDIMAX KOREA, Elektra Hellas S.A, BeaconMedaes, Surgiris, Skytron LLC, Brandon Medical Co. Ltd, and Starkstrom |
| Customization Scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global medical pendant market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective medical pendant products. Some major players included in the global medical pendant market report are:
- Megasan Medikal
- Ondal Medical Systems GmbH
- Tedisel Medical
- MEDIMAX KOREA
- Elektra Hellas S.A
- BeaconMedaes
- Surgiris
- Skytron LLC
- Brandon Medical Co. Ltd
- Starkstrom
Strategic Development
- On 29 June, 2021, Medical Guardian revealed its partnership with BLACK+DECKER to endorse the latest goViaTM series of Personal Emergency Response Systems (PERS). This collection aims to foster secure and confident mobility among active older Americans.
- In 2020, Ondal Medical Systems GmbH launched its Ondal PantoSwing medical pendant system, which is designed to provide maximum flexibility and ease of use in the operating room. The system features an innovative design that allows for easy and precise positioning of medical equipment.
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For the purpose of this report, Emergen Research has segmented the global medical pendant market on the basis of product, application, capacity, end-use, and region:
- Product Outlook (Revenue, USD Million; 2019-2032)
- Fixed
- Fixed retractable
- Single arm movable
- Double & multi-arm movable
- Accessories
- Application Outlook (Revenue, USD Million; 2019-2032)
- Surgery
- Endoscopy
- Anesthesia
- Intensive Care Unit (ICU)
- Others
- Capacity Outlook (Revenue, USD Million; 2019-2032)
- Low duty
- Medium duty
- Heavy duty
- End-Use Outlook (Revenue, USD Million; 2019-2032)
- Hospitals
- Clinics
- Others
- Regional Outlook (Revenue, USD Million; 2019–2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- ASEAN Countries
- Oceania
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- GCC Countries
- Israel
- Turkey
- South Africa
- Rest of Middle East & Africa
- North America
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