Global Medical Pendant Market is anticipated to rise at a value CAGR of 6.75% over 2019-2028. According to a study published by Insure Insights on the Global Medical Pendant Market. Medical Pendant is being used in the hospitals by the healthcare professionals as they assist in the efficient workflow by positioning various necessary objects and medical devices while performing surgeries or procedures. They play a crucial role as they help to prevent infection and enhances safety in the hospital by ensuring a safe connection to data and power networks. The surge in the elderly population and rising healthcare expenditure have fostered the market.

Top Driver: The rise in the incidences of Chronic disorders around the globe have escalated the demand of the market

The increase in the occurrence of Chronic disorders, accidents around the world is the key factor boosting the market growth. The technological advancement in the medical pendants, rising number, clinics, hospitals, and other healthcare centers, have increased the demand for medical pendants The rise in the emergency cases in hospitals, sophisticated healthcare expenditure and government initiatives for better healthcare have further boosted the market growth

Movable Medical Pendant rules the Global Medical Pendant Market

Based on the Product, Movable Medical Pendant segment has held the most lucrative growth, as they have gained more preference over fixed pendants. These pendants require less maintenance and are available in various sizes; they are mostly used in operation theaters as well as surgical centers. The rise in the number of surgeries around the globe have improved the demand for Movable Medical Pendant and is thus ultimately contributing to the industry growth. An increase in the demand for the use of Movable Medical Pendant in hospitals to perform surgical procedures have boosted the overall growth.

In terms of the Application, the Intensive Care Unit segment, ICU has obtained the most significant market growth owing to the number of people suffering from various chronic disorders, and an increase in the number of accidents has fostered the segmental growth. Based on the End-user Hospitals segment have held the most remarkable market growth pertaining to provide better-advanced treatments to the patients, increasing healthcare expenditure in hospitals, and a growing number of public and private hospitals have escalated the overall growth.

North America dominates the regional market with the presence of key competitors

North America has held the most lucrative growth owing to the presence of key players like Amico Corporation, BeaconMedaes. The increase in the number of surgical procedures, medical tourism, and the rise in healthcare spending has positively impacted the North American market. The technological advancements in medical pendants and better healthcare facilities in the region have fostered the regional market. The growth in the number of critical diseases, availability of trained professionals, and favorable government initiatives pertaining to the adoption of medical devices have improved the overall demand for Medical pendants in the region. The   increasing geriatric population and rising healthcare expenditure have further boosted the regional revenue.

Strategic Collaborations, Mergers, and Acquisition are the major strategies of the competitors

The Players of the Global Medical Pendant Market is fragmented. Collaborations, Mergers, and acquisitions are strategies used by competitors. The key competitors of the Global Medical Pendant Market are Amico Corporation, BeaconMedaes, Bejing Aeonmed, Dragerwerk AG, Hutz Medical, INMED-Karczewscy, Medil, MEDGAS-Technik Gmbh and Ondal Medical Systems

Dragerwerk AG: Dragerwerk AG is a popular competitor in the Global Medical Pendant Market. In April 2017, Dragerwerk AG had announced the acquisition of a 51 percent stake of Hamburg-based start-up bentekk; they are involved in developing innovative gas measurement devices for industrial applications. The acquisition was made by Dragerwerk AG to extend its portfolio in the area of mobile gas measurement.

Scope of the Report

By Product Type

• Fixed Pendant
• Movable Pendant

By Application

• Intensive Care Unit (ICU)
• General Surgery/Operating Theatres
• Anesthesia
• Endoscopy

By End User

• Hospitals
• Ambulatory Surgical Centers
• Others

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.