Medical Pendant Market Size, Share & Trends Analysis Report, By Product, By Application,, By Capacity, By End Use, By Region And Segment Forecasts, 2020 - 2027

Medical Pendant Market Size, Share & Trends Analysis Report, By Product, By Application,, By Capacity, By End Use, By Region And Segment Forecasts, 2020 - 2027

  • February 2020 •
  • 123 pages •
  • Report ID: 5867042 •
  • Format: PDF
Medical Pendant Market Size, Share & Trends Analysis Report, By Product (Fixed, Double & Multi-arm Movable), By Application (Intensive Care Unit (ICU), Surgery), By Capacity, By End Use, By Region, And Segment Forecasts, 2020 - 2027

The global medical pendant market size is anticipated to reach USD 639.2 million by 2027, expanding at a CAGR of 6.3%. Increasing number of healthcare professionals, clinics, and other healthcare facilities along with the technological advancements is anticipated to drive the market.

According to the Australian Government Department of Health, number of doctors in Australia has increased from 85,491 in 2014 to 95,194 in 2017. In addition, as per the report by Canadian Institute for Health Information, in 2018, there were around 89,911 physicians in Canada, representing around 3.8% increase from 2017. Thus, increasing number of healthcare professionals, clinics, and other healthcare facilities are expected to drive the market.

Technological advancements and innovations in medical pendants are anticipated to increase the demand for these systems during the forecast period.Medical pendants with various multi-faceted designs and ultra-flexible configurations are commercially available and are mainly focused on meeting specific healthcare requirements.

For instance, in March 2017, Brandon Medical Co., Ltd. launched Mediclean (an UCV system), Medicontrol iTCP device, and Astralite AL10, surgical and examination light.

Further key findings from the study suggest:
• Based on product, the fixed segment dominated the market in 2019 owing to its increasing adoption in surgeries, endoscopy, anesthesia, and intensive care unit (ICU)
• ICU segment is growing at the highest CAGR owing to the increasing number of emergencies and accidents worldwide
• Based on capacity, the low duty segment accounted for significant market share in 2019. Introduction of new and aesthetic low duty pendants with increased functionality in addition to its economic cost has resulted in the growing demand for low duty pendants globally
• The clinics segment is expected to witness the highest CAGR during the forecast period. Increasing adoption of medical pendants in surgeries, anesthesia, endoscopy, and other healthcare specialties, such as gynecology and obstetrics is anticipated to drive segment growth
• North America dominated the medical pendant market with highest revenue share in 2019 owing to rising burden of critical diseases, robust healthcare facilities, and increasing number of healthcare specialists
• Few of the key players operating in the market are Elektra Hellas S.A, Starkstrom, Brrandon Medical Co. Ltd, Skytron LLC, Surgiris, BeaconMedaes, MEDIMAXKOREA, Tedisel Medical, Ondal Medical Systems GmbH, and Megasan Medikal.