Pune, Jan. 12, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Medical Pendant Market by Product (Fixed Pendants, Fixed Retractable Pendants, Single Arm Movable Pendant, and Double Multi Arm Movable Pendant), Application (Surgery, Endoscopy, Anesthesia & Intensive Care Unit), and End User (Hospitals & Clinics) – Global Outlook & Forecast 2022-2030" published by Growth Plus Reports, the Medical Pendant Market is expected to grow at a CAGR of 6.27% from 2021 to reach US$ 817.44 million by 2030.
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Market Driver
Two reasons driving the market's growth are an increase in operations and improved health clinics for better workflow. Hospital admission rates have also significantly grown as chronic illnesses like cancer, urological issues, neurovascular diseases, cardiovascular disorders, and other chronic conditions become more prevalent. Healthcare personnel frequently utilize medical pendants to hold numerous instruments and other important materials while doing surgical procedures. The positioning of gas, terminal units, and hospital instruments is also done using these systems. The rise in demand for medical pendants may be attributed to their frequent use during operations.
The global medical pendant market has been evaluated from four different perspectives –product, application, end user and region
Excerpts from ‘By Product Segmentation'
Based on the kind of product the market for medical pendants has been segmented into:
- Fixed
- Fixed Retractable
- Single Arm
- Double & Multi-Arm Moveable Medical Pendants
The fixed medical pendant sector commanded the largest market share in 2021 as a result of its expanding use in operations, endoscopy, anesthesia, and intensive care units. The fixed medical pendant systems' low cost, portability, and simplicity of installation further increase the market demand for them. Consequently, the market is expanding because there are more surgical procedures being performed, chronic diseases are more common, and there are more healthcare institutions using fixed pendant systems. A fixed pendant system offers numerous connectors for attaching ventilators, supplying gas, etc. In hospitals, it plays a critical supportive role in preserving safety and reducing the risk of infection. It is frequently utilized in acute care units and recovery rooms. The increasing use of anesthesia prior to surgery are the primary drivers of the segment's growth. Fixed medical pendant systems are in high demand due to their affordability, portability, and ease of installation. As a result, the market is expanding due to an increase in the incidence of chronic diseases and the number of hospitals utilizing fixed pendant systems.
Excerpts from ‘By Application Segmentation’
Based on application the market has been divided into:
- Surgery
- Endoscopy
- Anesthesia
- Intensive Care Unit (ICU)
The surgery segment of the global medical pendant market ruled in 2021. A surgical operation that uses anesthesia equipment necessitates the installation of surgical and/or anesthesia pendants that provide anesthetic gas in the operating room. These pendants are a great option for accommodating various surgical situations. It is crucial to note that anesthetic machines are typically used during laparoscopic procedures. An endoscope pendant that provides a supply of CO2 gas as well as an anesthesia pendant that provides an anesthetic source of air are essential fortifications for the endoscopic operating room. The high-quality gas supply terminal guarantees proper operation safety. Due to potential surgical scenarios, there will be a larger rise in the need for medical pendant systems. A medical pendant is one of the needs that offers a high level of professionalism to perform surgical procedures. As a result, it is projected that the growing number of surgeries conducted globally will fuel market growth.
Excerpts from ‘By Region Segmentation’
There are four key regions that make up the global market of medical pendants which include:
- North America
- Europe
- Asia Pacific
- The Rest Of The World
As one of the key regions in the medical pendant market in the North America, is anticipated to dominate the market in terms of revenue. This is attributable to the presence of a top-notch healthcare infrastructure, elite medical practices, state-of-the-art facilities, and strict regulatory standards. The sizeable market share in the U.S. can be ascribed to a variety of causes, such as the critical need to improve clinical workflow, the rise in chronic illness prevalence, and the rising costs of healthcare as the country's healthcare infrastructure is built. The established healthcare infrastructure in the area, the ease of access to slashing technology, and the strong demand for diagnostic tests are the factors expected to raise the number of inpatient inspections, which is likely to hasten market expansion. Additionally, countries like the U.S. and Canada have experienced an increase in hospitalizations in recent years due to the high frequency of chronic medical illnesses and fatal injuries. The Asia Pacific medical pendant market, on the other hand, is anticipated to grow at a fastest CAGR. Japan, China, and India make up the major markets for medical pendants in the Asia Pacific region. The market in this region is primarily driven by factors including an ageing population, quickly growing economies, and rising healthcare awareness.
Excerpts from ‘Competitive landscape’
The players in the global medical pendant market are taking strategic actions to increase their market share since there are so many opportunities in developing countries. These actions include product innovation, geographic expansion, debuts, mergers, and purchases. Furthermore, manufacturers constantly release cutting-edge products to gain a competitive advantage. The important companies holding the highest revenue of the global medical pendant market are:
- Elektra Hellas S.A
- Starkstrom
- Brandon Medical Co. Ltd
- Skytron Llc
- Beaconmedaes
- Medimaxkorea
- Tedisel Medical
- Ondal Medical Systems Gmbh
- Megasan Medikal
- Comprise Skytron Llc
- Surgiris
- Beaconmedaes Llc
Browse Detailed Summary of Research Report with TOC:
https://www.growthplusreports.com/report/medical-pendant-market/8031
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Applications
- Secondary Applications
- Primary Applications
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL MEDICAL PENDANT MARKET - ANALYSIS & FORECAST, BY PRODUCT
- Fixed Pendants
- Fixed Retractable Pendants
- Single Arm Movable Pendant
- Double & Multi Arm Movable Pendant
- GLOBAL MEDICAL PENDANT MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Surgery
- Endoscopy
- Anaesthesia
- Intensive Care Unit (ICU)
- Others
Scope of the Report:
| Report Attribute | Details |
| Market size value in 2021 | US$ 472.89 million |
| Revenue forecast in 2030 | US$ 817.44 million |
| Growth Rate | CAGR of 6.27% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | Product, Application, End User, and Region |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pipeline Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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