Global Medical Pendants Market, by Product Type (Fixed Pendants, Rotary Pendants {Single-Arm and Double Multi-Arm}, and Movable Pendants {Single-Arm and Double Multi-Arm}), by Application (Surgery, Anesthesia, Endoscopy, and ICU), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Centers, and Others {Academic and Research Institutes and Others}), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 542.2 Million in 2023 and is expected to exhibit a CAGR of 7.2% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Market players are engaged in conducting inorganic activities, such as partnerships, in order to address operative care facility needs, and this is expected to drive the global medical pendants market growth during the forecast period. For instance, in July 2022, Arthrex, a global leader in minimally invasive surgical technology, and Skytron, a health care safety and efficiency company specializing in capital equipment, announced a partnership to offer a broad array of total room solutions designed to address the future needs and challenges of operative care facilities. The partnership will improve surgical quality and patient care by advanced technology and operating room infrastructure that will help surgeons treat their patients better.
Global Medical Pendants Market - Impact of Coronavirus (COVID-19) Pandemic
The ongoing COVID-19 pandemic has drastically increased the demand for medical pendants across healthcare facilities globally. Medical pendants are ceiling-mounted booms that hold medical equipment like Intravenous poles, oxygen tanks, ventilators, etc. above patient beds. As COVID-19 led to a surge in hospitalizations, the need for remotely monitoring and treating high-risk patients from a safe distance grew significantly. This drove the increased adoption of medical pendants that allowed frontline workers to access patients and equipment without getting too close and risking infection. Manufacturers responded by ramping up the production of medical pendants to meet the unprecedented demand from hospitals and healthcare systems.
Some key factors influencing the medical pendants market trends are increased ICU capacity additions, rise of makeshift COVID-19 wards, and field hospitals. For example, India added over 100,000 ICU beds between 2020 and 2022 to deal with periodic surges as reported by the Indian government. This resulted in many state run and private hospitals procuring multiple medical pendants to equip the additional beds. Similarly, National Institute of Health (NIH) data shows over 500 emergency field hospitals and COVID-19 care centers were set up globally in 2020 alone, many of which invested in medical pendants for safe patient monitoring and treatment. The ongoing spread of new variants like Omicron has also kept the demand for medical pendants steady as healthcare systems aim to be prepared for future waves.
Global Medical Pendants Market: Key Developments
In March 2020, Heyer Medical AG, a producer of anaesthetic machines and medical ventilators, was acquired by AEONMED Group, a leading R&D and manufacturing enterprise for anesthesia and respiratory medical equipment. The company was able to strengthen its industrial position and obtain a competitive edge due to this strategic acquisition.
In 2020, Atlas Copco, a Sweden-based multinational industrial company, acquired the operating assets of MGES Inc., a service supplier of medical gas solutions including distribution and service of medical gas systems.
Browse 39 Market Data Tables and 23 Figures spread through 193 Pages and in-depth TOC on “Global Medical Pendants Market”- Forecast to 2030, Global Medical Pendants Market, by Product Type (Fixed Pendants, Rotary Pendants {Single-Arm and Double Multi-Arm}, and Movable Pendants {Single-Arm and Double Multi-Arm}), by Application (Surgery, Anesthesia, Endoscopy, and ICU), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Centers, and Others {Academic and Research Institutes and Others}), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/medical-pendants-market-2041
Key Takeaways of the Global Medical Pendants Market:
- The global medical pendants market is expected to exhibit a CAGR of 7.2% during the forecast period owing to the strong focus of key players on inorganic growth strategies, such as product launches, acquisitions, mergers, collaborations, etc., to enhance their market position, strengthen product portfolios, and increase product reach, which is expected to drive the growth of the global medical pendants market. For instance, in December 2020, Skytron LLC, manufacturer and provider of medical equipment, launched the new Freedom Boom, a medical pendant system with enhanced features including no brakes or buttons to push against pendant arms, Skytron LLC’s unique active assist technology, limited space options, and advanced operation rooms. It also provides additional supply connections for electricity and gas. These advancements are anticipated to boost the market growth during the forecast period.
- Among the product type segment, movable pendants are witnessing the highest growth. Movable pendants can be wheeled to the patient's bedside on carts for temporary use. They are then repositioned easily when no longer required. With the rising demand for enhanced patient mobility and flexibility of care delivery, movable pendants are gaining popularity. For example, the United Nations report on aging, which was published in 2020, states that over 1.53 billion people worldwide will be over 65 years old by 2050. This growing geriatric patient population drives the need for portable medical equipment for assisted living and home healthcare. The mobility offered by movable pendants makes them well-suited for these evolving care models.
- Among regions, North America is estimated to hold a dominant position in the global medical pendants market over the forecast period. This can be attributed to the higher adoption of fixed pendant systems in major healthcare facilities across the region. According to a 2021 report by the American Hospital Association, most U.S. hospitals have implemented fixed headwall systems to deliver medical gases, electrical services, and medical vacuums at patient bedsides. This is due to the standardized designs of fixed pendants that allow centralized distribution while ensuring regulated medical gas pressures and airflows. Their non-movable nature also prevents trip hazards around beds and reduces maintenance costs compared to other pendant systems over the long run. For example, in July 2022, Massachusetts General Hospital, which offers sophisticated diagnostic and therapeutic care in virtually every specialty of medicine and surgery.in Boston, U.S. upgraded its headwall systems a few years ago to equip all beds with surgical-grade fixed pendants to enhance safety and enable fast access to different medical services at the point of care.
- The major players operating in the global medical pendants market include Hipac Healthcare Pty Ltd, Surgiris, Ondal Medical Systems, STERIS plc., Elektra Hellas, Starkstrom Ltd., Narang Medical Ltd., Brandon Medical, TLV Healthcare, Shanghai Amcaremed Technology Co., Ltd., Medimaxkorea, Tedisel Medical, Skytron LLC, Starkstrom, and BeaconMedaes
