Medical Pendant Market

Report Overview

The global medical pendant market was pegged at US$ 472.89 million in 2021 and is expected to witness a CAGR of 6.27% during the forecast period. 

Market Fundamentals 

In the modern surgery room of a hospital, the medical pendant is a crucial gas supply medical gadget. It is mostly utilized in operating rooms for the terminal transfer of medical gases such as oxygen, suction, compressed air, nitrogen, and others. The motor that raises the platform is mostly controlled by the medical pendant, and it is dependable and safe. A motor drive ensures the rapid and effective operation of the medical pendant, and a balanced design maintains the level of the equipment platform and guarantees the safety of the pendant. The exterior of the nanocomposites can be cleaned with a common disinfectant, which can completely remove pollution. 

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Market Dynamics

Hospital admission rates have dramatically grown due to the rising prevalence of chronic ailments such as cancer, urological disorders, neurovascular diseases, cardiovascular disorders, and other persistent conditions. Healthcare personnel frequently make use of medical pendants to place various medical equipment and other important objects while carrying out surgical procedures. These systems are also employed to place medical equipment, terminal units, and gas appropriately. As a result, their widespread use during operations can be responsible for the increase in demand for medical pendants. As a result, rising hospitalization rates and an increase in chronic diseases are predicted to enhance the installation of medical pendant systems, which is therefore predicted to propel market expansion. 

However, the high price of medical pendants, might have a negative effect on industry expansion. A medical pendant is an expensive investment item to buy. The adoption of medical pendants is limited by their high acquisition costs, especially in underdeveloped economies.

Market Ecosystem

The global medical pendant market has been analyzed from four perspectives: product, application, end user, and region

Medical Pendant Market by Product Type 

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Based on product, the market for medical pendants has been divided into fixed, fixed retractable, single arm, double & multi-arm moveable medical pendants. Due to its growing use in intensive care units, surgeries, endoscopy, and anesthesia, the fixed medical pendant category held the largest market share in 2021. The market demand for medical pendant systems is further boosted by the fixed medical pendant systems' affordability, portability, and ease of installation. As a result, the market is developing due to an increase in surgical operations, a high prevalence of chronic diseases, and an increase in the number of healthcare facilities utilizing fixed pendant systems.

Medical Pendant Market by Application

Based on application the market has been divided into surgery, endoscopy, anesthesia, intensive care unit (ICU), and others. Due to the rising number of surgical procedures performed globally, the surgery category maintained the largest market share in 2021. According to a study conducted by Weinstein Legal and published in March 2020, almost 30 million children and teenagers countrywide compete in youth sports each year. The demand for medical pendant systems will rise more as a result of possible surgical situations. One of the necessities that provides a high level of quality to carry out surgical treatments is a medical pendant. Therefore, the expansion of the market is anticipated to be fueled by the rising number of surgeries performed globally.

Medical Pendant Market by End User

Depending on the end users of the global medical pendant market is classified into hospitals, clinics, and others. Due to the use of specialist medical pendants in operating rooms and intensive care units, the hospitals sector led the market in 2021. Now a days, high-quality medical apparatus is well-equipped in hospitals to suit patient needs and guarantee satisfaction. In hospitals, double arm medical pendants are frequently used to give the medicinal gases needed during operations. In addition, the growing use of medical pendants in gynecology clinics and other healthcare specializations including anesthesia, endoscopy, and surgery has increased demand for facilities with the latest medical pendant technology. Therefore, during the anticipated era, these variables are probably going to help the market grow.

Medical Pendant Market by Region

Based on the geographical distribution, the global medical pendant market is segmented into North America, Europe, Asia Pacific, and Rest of the World. In 2021, North America dominated the market owing to its established healthcare facilities, easy access to cutting-edge technology, and high demand for diagnostic procedures are the factors projected to increase the number of inpatient examinations, which is anticipated to accelerate market expansion. Additionally, due to the high prevalence of chronic medical conditions and deadly injuries, nations like the U.S. and Canada have seen a surge in hospital admissions in recent years. On the other hand, the Asia Pacific medical pendant market is forecast to expand at a high CAGR. The largest markets for medical pendants in Asia Pacific are Japan, China, and India. Among the major reasons driving the market in this region are the ageing population, rapidly developing economies, and increased healthcare awareness. Additionally, the presence of strong growth potential in nations like Japan, China, and India is probably going to support market expansion. Players in these nations have a number of partnerships with significant international players. 

Competitive Landscape

The most predominant companies holding the largest share 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

Strategic Development

• In December 2020, a medical pendant system named the new Freedom Boom, from Skytron LLC, was introduced. It has a number of new features, including no brakes or buttons to push toward the pendant arms, Skytron's exclusive Active Assist technology, constrained space options, and sophisticated operation rooms with the capability to change components without taking apart the entire medical pendant structure. Additionally, it provides additional utility outlets for gas and electricity.
• In March 2020, Heyer Medical AG, a producer of medical ventilators and anesthetic devices, was purchased by AEONMED Group. The company was able to strengthen its industrial position and obtain a competitive edge thanks to this strategic acquisition.

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