Medical Pendant Market

Global Medical Pendant Market Size (2023 to 2028)

The size of the global medical pendant market is expected to grow at a healthy CAGR during the forecast period.

Medical pendants support many instruments in places like operating rooms and intensive care units. They have several gas and light outlets, as well as storage areas for other essential equipment. During surgical procedures, medical experts require a variety of instruments. This need can be met by reducing the number of people working in healthcare institutions and promoting medical pendants. Manufacturers are motivated to create and develop new systems with advanced features in response to the rising demand for flexible, more space-saving, and lightweight systems and systems with multiple features. The motor controls the lifting of the platform, which is safe and reliable. Medical pendant systems assist with properly placing terminal units, medical equipment, medical gas, and specialized and electrical services, meeting hospital standards. A medical pendant with a strong body system made of stainless-steel extensions and supporting rods is installed on the hospital ceiling. Such systems are small and flexible, allowing them to meet the specific needs of a hospital or other healthcare facility. Medical pendants have several arms that may hold all electrical, medical gas, data transmission, and equipment management functions. They are regarded as a beneficial entity for all medical enterprises because of their ability to make medical tasks easier and ensure patient safety while placing monitoring equipment and extending space in the operation theatre for operations and critical care areas to improve mobility around the patient bed, allowing healthcare staff to provide effective patient care.

MARKET DRIVERS:

An increase in the demand for pedant systems in ICUs and operating theatres is propelling the global medical pendant market growth.

Incoming electrical and gas services from the ceiling to reduce the cable clutter enables a safer and cleaner place for medical professionals' movement and activity. Medical tasks and procedures get easier through the medical pendant. The medical pendant market is primarily driven by increasing awareness among healthcare professionals about the usage of the pendant and the requirement for a safe and low workspace for medical staff. In the recent period, medical pendant usage has increased in developing countries, and the effective benefits of the pendant are mostly likely to augment the market. Moreover, an increase in the adoption of these medical pendant systems in endoscopy and surgery is anticipated to expand the market growth during the period. Besides, technical advancements and higher hospital adoption in various regions will increase the market growth. 

MARKET RESTRAINTS:

The medical pendant market has some restrictions that are impeding market growth. Medical pendant device setup is costly and cannot be affordable in underdeveloped countries. In addition, the lack of technicians for installation and operation is expected to challenge the market growth.

Impact of COVID-19 on the global medical pendant market:

The Outbreak of SARS-COV-2 has created a positive and negative impact on market growth. When the virus was first identified in Wuhan, China, the World health organization declared healthcare emergence. Coronavirus transmits quickly from person to person. The World Health Organization (WHO) released guidelines in order not to get affected by COVID-19. To combat COVID-19, a nationwide lockdown has been implemented, and a ban was made on transportation. A partial shot down of activities was made during the pandemic period. Limited medical pendant devices were available due to the rapidly increasing coronavirus-positive cases. The supply chain had been disrupted because of limited exchange activities between the countries. Limited manufacturing of medical pendants is performed due to the unavailability of labor and skilled people for manufacturing these devices. But after unlocking guidelines, the ban on flights was lifted. Due to the high patient pool in the counties, the demand for medical pendants has rapidly increased. As a result, manufacturers in the industry have expanded their production capacity to produce many medical pendant devices to meet the requirements of the hospitals. In addition, innovations are made to produce advanced medical pendant devices. As a result, the market has witnessed substantial growth, and it is projected to increase better over the forecast period.

REPORT COVERAGE:

This research report on the global medical pendant market has been segmented and sub-segmented based on the type, application, and region.

Medical Pendant Market - By Type: 

• Fixed
• Double Multi-Arm
• Fixed Retractable
• Single Arm

Based on type, the Fixed medical pendant systems are cost-effective, lightweight, and easy to install, driving up demand. As a result, the market is driven by increased surgical operations, the prevalence of chronic diseases, and the number of hospitals adopting fixed pendant systems.

Due to increased use in hospitals and clinics, the market for the double multi-arm segment is projected to grow at the fastest rate over the forecast period. Furthermore, because they are combined with pneumatically driven brakes, double and multi-arm moveable medical pendant systems can display numerous motions and optimum performance.

Medical Pendant Market - By Application: 

• Anesthesia
• Endoscopy
• Intensive Care Unit (ICU)
• Surgery

Based on the application, Because of the growing number of surgical operations worldwide, the Surgery segment dominated the market in 2022. As a medical pendant is one of the most important items, it provides a high-quality range of options for surgical operations. As a result, the market expansion is expected to be fuelled by the rising number of surgical operations performed worldwide.

During the forecast period, the Intensive Care Unit (ICU) segment is anticipated to develop faster. ICU admissions have increased as the frequency of chronic conditions such as respiratory diseases, trauma, surgical site infection, and burn cases has increased.

Medical Pendant Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Regionally, North America is expected to have the largest share of the global market. The U.S. market is expected to dominate the North American market due to the presence of key market players. In addition, the demand for medical pendants in this region is significantly growing, prominently increasing market growth.

Europe held the second-largest market share of the global medical pendant market in 2022. The U.K. generated revenue of an estimated USD 14 million in 2020, and it is estimated to reach USD 17.3 in 2022, exhibiting a CAGR of 5.6% between 2020 to 2025. The rising number of critical diseases and an increasing number of healthcare specialists in the region influence market growth.

The Asia Pacific is expected to witness considerable growth due to increasing investment in the healthcare sector. The increasing geriatric population, the adoption of advanced medical pendants, and increasing healthcare expenditure are the major factors for market growth in this region.

The Latin American market is expected to grow steadily during the forecast period. Latin American market size exceeded 393.3 million in 2021, and it is projected to gain a CAGR of 6% during the forecast period. More patients requiring surgical operations and improving healthcare facilities are more likely to augment the market growth.

The Middle East and African countries expect a slow growth rate in the medical pendants market. Due to the least healthcare expenditure and lowest countries economy, the healthcare professionals and medical staff are the weakest in number comparatively. However, Saudi Arabia and Arab states expect the largest shares in this market due to the high elderly population, increased chronic diseases, increased awareness of healthy lifestyles and activities, high healthcare expenditure, and infrastructure. 

KEY MARKET PARTICIPANTS:

Some notable companies dominating the global medical pendant market profiled in this report are Elektra Hellas S.A., Brandon Medical Company Ltd, Unicorn Medicals, Starkstrom Ltd, Hipac, Shanghai PAX Medical Instrument Co., Ltd., Ondal Medical Systems, BeaconMeds, Megasan Medika, and Tedisel Medical S.L.

RECENT MARKET DEVELOPMENTS:

• The previously announced acquisition of Key Surgical by Steris PLC was finalized in November 2020. The company's product offerings were enhanced and expanded internationally due to the acquisition.
• Brandon Medical will expand the manufacturing of dependable examination lights, minor surgical lighting, and intensive care support systems in April 2020.