The Medical Pendant Market is Expected to Foresee Significant Growth. The U.S. to lead the growth!
The medical pendant market is expected to witness a CAGR of around 6% during the forecast period. The medical pendant is an essential gas supply medical device used in the modern operating room of hospitals by healthcare professionals. Moreover, rising cases of chronic diseases among the geriatric population and increasing surgeries are the major factor for the growth of this market in the forecast period. For instance, according to the United Nations, the 60+ aged population was 962 million in 2017 which is more than twice what it was in 1980 at 382 million. The number of the elderly population is expected to double again by 2050 and reach nearly 2.1 billion worldwide.
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Based on Product, the medical pendant market is segmented into the fixed pendant and movable pendant. Among these, the fixed pendant category is anticipated to witness a considerable growth rate during the forecast period. This is mainly due to its simple access to data connectivity, medical electrical outlets, and gas supply, in the operating rooms during the surgeries. These factors will drive the growth of this market during the forecast period. For instance, according to the National Institutes of Health (NIH), approx 310 million surgeries are performed each year in the U.S.
Based on application, the medical pendant market is segmented into intensive care units (ICU), general surgery/operating theatres, anesthesia, endoscopy, and others. The general surgery/operating theatres category is supposed to witness a significant growth rate during the forecast period. Owing to, the rising prevalence of chronic conditions such as cancer, respiratory conditions, and growing trauma events is contributing to the growth of this market during the forecast period. For instance, according to the World Health Organization (WHO) in 2018, around 2.09 million cases of lung cancer, 2.09 million cases of breast cancer, and 1.80 million cases of colorectal cancer were reported globally.
Based on end-user, the medical pendant market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals category is supposed to witness a lucrative growth rate during the forecast period. This is mainly due to the rising geriatric population, surgical procedures, and availability of high-quality medical equipment in hospitals. These factors are contributing to the growth of the market during the forecast period. For instance, according to the National Hospital Ambulatory Medical Care Survey, in 2018, the emergency department accounted for around 130 million visits, and approximately 2.3 million patients were admitted to ICU.
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For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and Rest of World. In 2020, North America accounted for a significant market share. The rising growth of this market in the region is mainly due to the well-established healthcare facilities, high income, and availability of a high number of hospitals & healthcare clinics in the region. Moreover, availability of major pharmaceutical and medical device companies are launching new products and working on new technological developments. For instance, according to the American Hospital Association (AHA) annual survey in 2022, about 6,093 hospitals are available in the U.S.
Some of the major companies operating in the OTC Braces and Supports Market include Unicorn Medicals LLC, Tedisel Medical S.L., Starkstrom Ltd., Elektra Hellas S.A, Brandon Medical, Co. Ltd, Surgiris, BeaconMedaes LLC, MEDIMAXKOREA, Ondal Medical Systems GmbH, and Megasan Medikal.
Global Medical Pendant Market Segmentation
Market Insight, By Product
• Fixed Pendant
• Movable Pendant
Market Insight, Application
• Intensive Care Unit (ICU)
• General Surgery/Operating Theatres
Market Insight, End-User
• Ambulatory Surgical Centers
Market Insight, By Region
- North America Medical Pendant Market
- Rest of North America
- Europe Medical Pendant Market
- Rest of Europe
- Asia-Pacific Medical Pendant Market
- Rest of Asia-Pacific
- Rest of the World Medical Pendant Market
Top Company Profiles
• Unicorn Medicals LLC
• Tedisel Medical S.L.
• Starkstrom Ltd.
• Elektra Hellas S.A
• Brandon Medical Co. Ltd
• BeaconMedaes LLC
• Ondal Medical Systems GmbH
• Megasan Medikal