Medical Pendant Market: Current Analysis and Forecast (2022-2028)

Report Description

REQUEST FREE SAMPLE PDF

The medical pendant market is expected to witness a CAGR of around 6% during the forecast period (2022–2028). The medical pendant also called a surgical boom or ceiling pendant is designed to provide support for other equipment throughout the surgical procedures in the operating room or in the intensive care units (ICU). Moreover, this medical device is mainly used for the terminal transfer of medical gases like oxygen, nitrogen, and other gases, and is also used for suction, and supply of compressed air, in the operating room for surgical procedures in chronic diseases such as cardiovascular diseases and cancer. For instance, according to the Centers for Disease Control and Prevention (CDC), about 805,000 people in the United States have a heart attack every year. Hence these factors are further expected to boost the growth rate for medical pendants over the forecast period.

Some of the major companies operating in the medical pendant 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, Megasan Medikal

Insights Presented in the Report

“Amongst product, the fixed pendant category accounted for the significant share in the market in 2020”

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 significant growth rate during the forecast period. This is mainly due to the rising trauma & surgery procedures and the rising demand for medical equipment required in these procedures across the globe is contributing to the growth of this market during the forecast period. For instance, in July 2019, Atlas Copco (parent company of BeaconMedaes LLC) acquired the operating assets of MGES Inc., a service supplier of medical gas solutions including distribution and service of medical gas systems.

REQUEST FOR CUSTOMIZATION

“Amongst application, the preventive care category is expected to witness the significant CAGR during the forecast period”

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 anticipated to witness a significant growth rate during the forecast period. This is mainly due to increasing cases of various types of surgeries such as laparoscopic surgeries, cardiac surgeries, brain surgeries, etc. which are also contributing to the growth of this market during the forecast period. For instance, according to an article published in 2020, about 15 million laparoscopic procedures are performed globally every year increasing the number of surgeries, gas supply in the operating rooms, and essential in case of medical emergencies and hazardous situations

“Amongst end-user, the hospitals category is expected to witness the significant CAGR during the forecast period”

Based on end-user, the Medical Pendant market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals category is anticipated to witness a considerable growth rate during the forecast period. This is mainly due to these devices are mainly used in the ICU or hospitals to perform operations and provide treatment to patients. Moreover, these devices are handled by only well-trained medical professionals in hospitals. These factors are further driving the growth of the market during the forecast period.  For instance, according to the American Hospital Association (AHA) annual survey in 2022, about 6,093 hospitals are available in the U.S.

“North America to witness significant growth during the forecast period”

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. North America accounted for a considerable market share during the forecast period. Owing to, the increasing effective results in surgery, endoscopy, increased need in operating rooms & intensive care units along with technical advances & innovations are expected to enhance the medical pendant market’s growth during the forecast period in the region. For instance, according to the Office on Women’s Health (OWH), each year in the United States, nearly 500,000 women get hysterectomies.

SPEAK TO ANALYST

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The medical pendant market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Research Methodology

Research Methodology for the medical pendant market Analysis (2022-2028)

Analyzing the historical market, estimating the current market, and forecasting the future market of the medical pendant market were the three major steps undertaken to create and analyze the adoption of the medical pendant market in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the medical pendant market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Seek More Details About Research Methodology

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the medical pendant market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the medical pendant market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the medical pendant market. Further, we conducted factor analysis using dependent and independent variables such as various product, application, and end-user of the medical pendant market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, and business expansion, in the medical pendant market sector across the globe.

REQUEST FOR CUSTOMIZATION

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the medical pendant market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the medical pendant market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the medical pendant market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

SPEAK TO ANALYST

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the medical pendant market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, application, and end-user in the medical pendant market.

The main objective of the medical pendant market Study

The current & future market trends of the medical pendant market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the medical pendant market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product, application, and end-user.
• Define and analysis of the regulatory framework for the medical pendant market industry.
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the medical pendant market for the major region.
• Major regions and countries studied in the report include 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.
• Company profiles of the medical pendant market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry