Medical Pendant Market to Grow 6.30% CAGR during the Forecast Period 2022 to 2030

The Global Medical Pendant Market is presumed to garner USD 695 million during the forecast period (2022-2030). The market is anticipated to register 6.30% CAGR owing to the technological advancements, asserts Market Research Future (MRFR). Medical pendant is referred to as a wireless device which is designed to alert the healthcare professionals about the occurrence of any hazard or emergency which require immediate attention. A medical pendant system is usually installed on the ceiling of a hospital with a strong body system which is built of supporting rods and stainless-steel extensions. They are compact with customizable configurations to fulfill the requirements of healthcare centers and hospitals.

The growing need for low-risk and safe workspace for medical workforce is fueling the global medical pendant market during the assessment period. Technological advancements such as button-press enabled medical pendants which facilitate the system’s arm movement are further fostering the global market. Devices with multifaceted designs and ultra-flexible configurations are commercially available which focuses on fulfilling the requirements of the healthcare specialties. Such devices are expected to gain traction across the globe which is further likely to trigger the market growth in the coming years. Moreover, growing demand for medical pendants in the ICU and operating theatres are likely to spur the market growth.

On the flip side, high cost of medical pendants coupled with the lack of professional technicians are anticipated to impede the market growth in the coming years.

Medical Pendant Market - Competitive Dashboard:

The noteworthy players operating the global medical pendant market are MEDIMAXKOREA, Starkstrom, Tedisel Medical, Megasan Medikal, Surgiris, Brandon Medical Co. Ltd., BeaconMedæs, Skytron LLC, Elektra Hellas S.A., and Ondal Medical Systems GmbH.

Medical Pendant Market: Segmental Analysis:

The global medical pendant market has been segmented on the basis of product, application, and region.

By mode of product, the global medical pendant market has been segmented into fixed pendants, fixed retractable pendants, single arm movable pendants, double & multi-arm movable pendants, and accessories. Among these, the fixed pendants hold the largest market share, whereas the single arm moveable pendants account for the fastest growing segment.

By mode of application, the global medical pendant market has been segmented into hospital, clinics and others. The hospital segment is further sub-segmented into intensive care unit (ICU), operating theatre (OT) & recovery room (RR), and emergency room (ER). Among these, the clinics segment is expected to be the fastest growing segment.

Medical Pendant Market - Regional Insights:

Geographically, the global medical pendant market span across major four regions, namely Europe, America, Asia Pacific, and the Middle East & Africa.

The North American region in the Americas is presumed to dominate the global medical pendant market in terms of revenue owing to the presence of world class healthcare infrastructure, advanced facilities, top notch healthcare practices, and strict mandates from the regulating authorities.

The Asia Pacific region is anticipated to account for the fastest growth owing to the rapid growth in the healthcare infrastructure, increased spending, and government initiatives and focus on better healthcare practices owing to the rising medical tourism industry.

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Industry Updates:

March 21, 2018: Designed for seniors, TruSense, a smart home monitoring solution, has recently announced that it has added its first-ever smart personal emergency response pendant which combine GPS with notification when it is not being worn, thus extending protection even when outside the home. TruSense GPS Smart Pendant works in combination with TruSense Home. The combination offers customized alerts whenever the pendant is not being worn, thereby eradicating all the false sense of security created.