New York, USA, Sept. 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global medical pendant market is anticipated to register a revenue of $775.1 million by 2027, growing at a healthy CAGR of 8.1% during the forecast period 2020-2027. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the COVID-19 pandemic. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
Factors Impacting the CAGR Figures Pre and Post the Covid-19 Pandemic
According to the report, the medical pendant market is expected to grow at a CAGR of 8.1% during the forecast timeframe, while it was predicted to grow at a CAGR of 7.3% in the pre-pandemic scenario from 2020-2027. Over the last few years, there has been an increase in demand for medical pendants from various hospitals and clinics, which is predicted to boost the market in the forecast period. Furthermore, increasing hospital admissions along with rising number of surgeries to treat chronic diseases is anticipated to drive the market forward.
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Factors Impacting the Market Size Pre and Post the Covid-19 Pandemic
According to the report, the real-time market size has significantly increased compared to the pre-pandemic projections. The real-time market size reached a revenue of $450.5 million in 2020, while its estimations were $439.2 million in the pre-pandemic scenario. Medical pendants offer various advantages such as maintaining safety and efficient workflow in hospitals as well as establishing safe connection to data and power networks. These advantages provided by medical pendants have increased their demand, which is projected to help the medical pendant market grow in the forecast period. Along with this, an overall improvement in the global healthcare infrastructure is predicted to augment the growth rate of the market further. However, high cost associated with medical pendant systems is estimated to become a restraint in the growth of the medical pendant market.
Post Pandemic Insights
Technological advancements and innovations in medical pendant systems is anticipated to offer huge growth and investment opportunities to the medical pendant market in the analysis timeframe. Also, growth in demand for space-saving, lightweight, and flexible medical systems is expected to help the market grow in the post-pandemic period.
Prominent Market Players
Some prominent medical pendant market players include
- Hutz Medical
- Amico
- SKYTRON
- LLC
- Bradon Medical
- Ondal Medical Systems GmbH
- BeaconMedaes
- Surgiris
- Starkstrom
- Tedisel medical
- Mediland
- Trivitron Healthcare
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in October 2021, Pneumatech Medical Gas Solutions, a medical gas equipment manufacturing company, announced that it would be merging its operations with BeaconMedaes, a leading manufacturer of medical pendant systems. This strategic alliance will help both the companies to integrate their resources and inventories and cater to the demands of the healthcare sector in a better way.
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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