Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global medical pendant market was pegged at US$ 472.89 million in 2021 and is expected to register a revenue CAGR of 6.27% to reach 817.44 million by 2030.

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 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 nanocomposites can be cleaned with a common disinfectant, which can completely remove pollution. 

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Market Dynamics

The rising rates of hospital admission due to the rising prevalence of chronic ailments are driving the use of medical pendants to place various medical equipment and other important objects while performing surgeries. Additionally, these systems are also employed to place medical equipment, terminal units, and gas appropriately, raising the demand for medical pendants. Therefore, the rising hospitalization rates and an increase in chronic diseases are expected to enhance the installation of medical pendant systems, which propels the market revenue expansion. 

However, the high price of medical pendants might affect the market revenue expansion negatively. 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 

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Based on product, the market for medical pendants is segmented 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 segment accounts for the largest market revenue share. The rising 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 revenue is accelerating due to an increase in surgical operations, a high prevalence of chronic diseases, and an increase in healthcare facilities utilizing fixed pendant systems.

Medical Pendant Market by Application

Based on application, the market is segmented into surgery, endoscopy, anesthesia, intensive care unit (ICU), and others. 

Due to the rising number of surgical procedures performed globally, the surgery segment dominates the global market with the largest market revenue share. 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 because of possible surgical situations. Medical pendants are one of the necessities that provide a high level of quality to carry out surgical treatments. Therefore, the expansion of the market revenue share is expected to be fueled by the rising number of surgeries performed globally.

Medical Pendant Market by End-User

Based on the end users, the global medical pendant market is segmented into hospitals, clinics, and others. 

Due to the use of specialist medical pendants in operating rooms and intensive care units, the hospital segment dominates the global market. Recently, high-quality medical apparatus has been well-equipped in hospitals to suit patient needs and guarantee satisfaction. During surgeries, the double-arm medical pendants are frequently used to provide medicinal gases. 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 forecast period, these variables are expected to propel market revenue growth.

Medical Pendant Market by Region

Based on the regions, the global medical pendant market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. 

North America accounts for the largest market revenue share owing to its established healthcare facilities, easy access to cutting-edge technology, and high demand for diagnostic procedures, increasing the number of inpatient examinations. 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. 

The medical pendant market in Asia Pacefic is expected to rise with a significant revenue CAGR during the forecast period. The largest market revenue share for medical pendants in the Asia Pacific is Japan, China, and India. Among the major reasons driving the market revenue in this region are the aging 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 revenue expansion. Players in these nations have several partnerships with significant international players. 

Competitive Landscape

The most predominant companies operating in 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 several 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 that can 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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