Medical Pendant Market | Market Size, Share & Forecast | Covid-19 Impact Analysis

Medical Pendant Market Insights

Medical Pendant Market is likely to witness an impressive CAGR of 7.6% during the forecast period. Rising number of healthcare facilities around the world, growing need for a safe and low-risk work space, increasing technological advancement in medical pendants, increasing number of healthcare professionals, clinics, hospitals, and other healthcare centers are the prime factors that are driving the demand for medical pendants.

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Market Share Analysis

Medical Pendant Market Share: By Product Type

Based on the product type, the market is segmented as fixed pendant and movable pendant. The movable pendant segment held the larger share of the market in 2019, and is expected to register a faster growth during the forecast period. The segment is mainly driven by the increasing preference of movable medical pendants in operation theaters and surgical centers. Movable pendant certainly has lesser maintenance and is available in precise sizes compared to fixed pendants. Hospitals that have operating rooms for performing surgical procedures are likely to adopt movable pendants that will further drive the growth of the segment.

Medical Pendant Market Share: By Installation Type

Based on the installation type, the medical pendant market is segmented as ceiling mounted pendant, wall mounted pendant, and others. The ceiling mounted pendant segment dominates the market, as ceiling mounted pendants are best suited for providing medical gases and electrical components to intensive care units, operation theaters and general hospital wards. The ceiling mounted pendant installation allows addition and removal of gas and electrical components as per the requirement for hospitals.

Medical Pendant Market Share: By Region

In terms of regions, North America is estimated to be the largest market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growth of the region’s market is mainly driven by the increasing number of hospitals and improving healthcare infrastructures in the region. Evolving hospitals on the basis of infrastructure and equipment are likely to create further demand for medical pendants in the region’s market.

Some of the major medical pendant manufacturers are-

• Elektra Hellas S.A.
• Starkstrom
• Brandon Medical Co., Ltd.
• Skytron LLC
• Ondal Medical Systems GmbH
• Surgiris
• Beaconmedaes
• Medimaxkorea
• Tedisel Medical
• Megasan Medikal
• Steris plc

Market Scope & Segmentation

Medical pendant is used by healthcare professionals to maintain an effectual workflow by positioning medical devices and  various necessary objects while performing surgeries or the procedures. Medical pendant provides the correct positioning of terminal units, medical gas, medical equipment, and specialty and electrical services, for fulfilling the hospital requirements. It plays an important role for providing a stable flexible platform for medical devices and accessories. The growing need for low-risk and safe work space for the medical workforce, the medical pendant market is expected to accelerate during the forecast period. The high demand for medical pendant systems in operation theatres and intensive care units is driving the global market. Also, the effective results achieved in the areas of surgery and endoscopy are triggering the demand for medical pendants.

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

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The medical pendant market is segmented into the following categories. 

Medical Pendant Market Size, Share, & Forecast, by Product Type:

• Fixed Pendant (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Movable Pendant (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Medical Pendant Market Size, Share, & Forecast, by Installation Type:

• Ceiling Mounted Pendant (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Wall Mounted Pendant (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Medical Pendant Market Size, Share, & Forecast, by Application Type:

• Intensive Care Unit (ICU) (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• General Surgery/Operating Theatres (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Anesthesia (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Endoscopy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Medical Pendant Market Size, Share, & Forecast, by End-User Type:

• Hospitals (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Ambulatory Surgical Centers (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Medical Pendant Market Size, Share, & Forecast, by Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the product types by end-user type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].