Medical Pendant Market to Observe Strong Development by 2030: Grand View Research Inc.

 Medical Pendant Market Growth & Trends       

The global Medical Pendant Market is anticipated to reach USD 845.51 million by 2030, registering a CAGR of 6.69% during the forecast period, according to a new report by Grand View Research, Inc. Increasing volume of chronic care patients and rising investments in healthcare infrastructural development are the factors expected to boost demand for medical pendants.

The rise in number of patients needing medical care is expected to propel the Medical Pendant Market growth. For instance, escalating geriatric population, surging prevalence of chronic and infectious diseases has caused in a significant growth in hospital admissions for critical care. This in turn has led to uplifting demand for the medical pendant installations in healthcare settings, thereby boosting the market growth.

Emergence of highly sophisticated hospitals such as super-specialty and multi-specialty hospitals will increase demand for the installation of medical pendants. For instance, according to American Hospital Association statistics in 2020, there were 6,146 acute care and critical acess hospitals in the U.S.

In addition, due to the significant outbreak of this infectious disease, there has been a global demand for the modern healthcare services and infrastructure to treat infected patients that have never been seen before. Therefore, the medical pendants which are an important aspect of the healthcare services are in high demand, globally, due to the escalation in COVID-19 patients. Thus, the outbreak of COVID-19 in the year 2020 has positively impacted the market growth.

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Medical Pendant Market Report Highlights

• Based on product, the fixed segment dominated the market in 2022 with a share of 30.88% owing to its higher adoption in surgeries, anesthesia, endoscopy, and intensive care units
• Based on application, the surgery segment dominated the market in 2022 with a share of 28.99%, owing to the increasing number of surgical procedures worldwide
• Based on capacity, the low duty segment accounted for a significant market share in 2022 owing to the rising demand for the low-cost fixed arm pendants in small hospitals and small clinics
• Hospital segment dominated the overall market with a share of 46.31% in 2022, owing to the increasing number of hospitals, globally, and rising government funding for the hospitals. For instance, the Australian government provides 41.0% of the public hospital funding and 24.0% of the private hospital funding
• North America dominated the market with the highest revenue share of 31.23% in 2022 due to the well-established healthcare infrastructure, high incidence rate of the chronic disorders, and extensive public funding in the healthcare system

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Medical Pendant Market Segmentation

Grand View Research has segmented the global Medical Pendant Market based on the product, application, capacity, end use, and region:

Medical Pendant Product Outlook (Revenue, USD Million, 2018 - 2030)

• Fixed
• Fixed Retractable
• Single Arm Movable
• Double & Multi-arm Movable
• Accessories

Medical Pendant Application Outlook (Revenue, USD Million, 2018 - 2030)

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

Medical Pendant Capacity Outlook (Revenue, USD Million, 2018 - 2030)

• Low Duty
• Medium Duty
• Heavy Duty

Medical Pendant End-Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals
• Clinics
• Others

Medical Pendant Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Colombia
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE

List of Key Players of Medical Pendant Market

• Elektra Hellas S.A
• Starkstrom
• Brandon Medical Co. Ltd
• Skytron LLC
• Surgiris
• BeaconMedaes
• MEDIMAXKOREA
• Tedisel Medical
• Ondal Medical Systems GmbH
• Megasan Medikal

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.