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Medical Pendant Market 2020 growth factors, latest trend and regional analysis of leading players by 2026

Author : Ronak Bora | Published Date : 2020-09-02 

Medical Pendant Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The growth graph of the global medical pendant market is characterized by an inherent number of R&D initiatives and other moves undertaken by industry players to bring forth newer products to the mainstream. Recently, a Finnish research team developed a necklace featuring a pendant using which patients can screen themselves to detect abnormal heart rhythms. The pendant is fitted with a portable electrocardiogram (EKG) that is used to transmit readings to an app on the phone as well as a cloud-based server, after which the information is fed into an AI algorithm and diagnostic results are calculated.

Medical pendants also have an important role to play in the maintenance of efficient workflows in hospitals. They are designed to ensure a safe connection to data networks and power and also to medical gas supplies, thereby lending a convenient platform for medical devices.

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As per GMI, medical pendant market size is expected to cross USD 680 million by 2026, with a targeted CAGR of 7.2% between 2020 and 2026. The growth can be credited to the robust emergence of advanced technologies pertaining to medical devices worldwide alongside the rising number of hospitals. In the U.S. alone, around 60% of the patients admitted to hospitals undergo some form of surgery. Since medical pendants help improve infection control and safety in operating theaters, they are majorly demanded across hospitals.

In terms of product, the fixed pendant segment is slated to foresee significant expansion due to the product’s widescale application in intensive care wards, emergency rooms, and small operating rooms. The stronger lifting ability of fixed pendants in comparison to movable pendants is the major determinant that is complementing its demand in the industry.

Additionally, healthcare facilities across the globe are increasingly focusing on adopting fixed pendants since they are relatively easy to install. Based on these aforementioned factors, the segment is projected to grow at an impressive CAGR of 7% through the forecast timeframe.

With reference to installation, the increasing convenience of use it offers is driving the ceiling-mounted installation segment in recent years. In fact, the segment held a significant industry share of approximately 80% in 2019. Ceiling mounted installations offer an effective location for the movement, storage, and simple access to data, medical gases, electrical equipment, and power.

Ceiling mounted pendants effectively utilizes space around the patient’s bed, and operating table by providing free access to control and life support devices. In addition, this type of installation also offers maximum flexibility for easier removal and addition of accessories which further minimizes the requirement of engineering assistance, thereby proliferating the segment share.

Due to the rapidly improving healthcare infrastructure, the France medical pendants segment is set to register remunerative growth. There is an upsurge in the adoption of medical pendants in the country in recent years as France, through its focus on improving healthcare facilities, is integrating more medical pendants in surgery centers and public hospitals.

The regional industry was valued at about $17 million in 2019. Intensive care units and operating rooms across the hospitals need equipment that provide high mobility, flexibility, and service capacity. As a result, major market players are manufacturing medical pendants that better fulfil the demands of healthcare facilities throughout the nation, outlining regional industry expansion.

Major market players are also adopting several growth strategies such as collaborations, acquisitions, and investments to gain an edge over the competition. Taking December 2019 for instance, IK Investment Partners acquired Ondal Medical Systems from Capvis. Ondal is a leading medical pendant system firm, and IK Investment Partners is expected to leverage Ondal’s expertise and position to augment its business growth through the acquisition.

The competitive landscape of the global medical pendant industry is inclusive of players such as Mediland, MEDGAS-Technik, INMED-Karczewscy, Hutz Medical, Dragerwerk AG, Bejing Aeonmed, BeaconMedaes, and Amico Corporation among others. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/medical-pendants-market

Partial Chapter of the Table of Content 

Chapter 4.  Medical Pendant Market, By Product

4.1. Key segment trends

4.2. Fixed Pendant

4.2.1.  Market size, by region, 2015 – 2026 (USD Million)

4.2.2.  Market size, by region, 2015 – 2026 (Units)

4.3. Movable Pendant

4.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.2.  Market size, by region, 2015 – 2026 (Units)

4.3.3.  Single-arm Movable Pendant

4.3.3.1.    Market size, by region, 2015 – 2026 (USD Million)

4.3.3.2.    Market size, by region, 2015 – 2026 (Units)

4.3.4.  Multi-arm Movable Pendant

4.3.4.1.    Market size, by region, 2015 – 2026 (USD Million)

4.3.4.2.    Market size, by region, 2015 – 2026 (Units)

Chapter 5.  Medical Pendant Market, By Installation

5.1. Key segment trends

5.2. Ceiling Mounted Pendant

5.2.1.  Market size, by region, 2015 – 2026 (USD Million)

5.2.2.  Market size, by region, 2015 – 2026 (Units)

5.3. Wall Mounted Pendant

5.3.1.  Market size, by region, 2015 – 2026 (USD Million)

5.3.2.  Market size, by region, 2015 – 2026 (Units)

5.4. Others

5.4.1.  Market size, by region, 2015 – 2026 (USD Million)

5.4.2.  Market size, by region, 2015 – 2026 (Units)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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