Medical Pendant Market Size Is Anticipated To Reach USD 639.2 Million By 2027: Grand View Research Inc.

April 13 17:56 2020
Medical Pendant Market Size Is Anticipated To Reach USD 639.2 Million By 2027: Grand View Research Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, Increasing technological advancement in the medical pendants, rising number of healthcare professionals, clinics, hospitals, and other healthcare centers, and growing demand for medical pendants are few factors driving the market.

The global medical pendant market size is anticipated to reach USD 639.2 million by 2027, expanding at a CAGR of 6.3%, according to a new report by Grand View Research, Inc. 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.

Spain medical pendant market size, by product, 2016 - 2027 (USD Million)

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Key Takeaways Of The Report :

  • 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.

U.S. medical pendant market share, by end use, 2019 (%)

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Grand View Research has segmented the global medical pendant marketon the basis of product, application, capacity, end use, and region:

Medical Pendant Product Outlook (Revenue, USD Million, 2016 – 2027)

  • Fixed

  • Fixed Retractable

  • Single Arm Movable

  • Double and Multi-arm Movable

  • Accessories

Medical Pendant Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Surgery

  • Endoscopy

  • Anesthesia

  • Intensive Care Unit (ICU)

  • Others

Medical Pendant Capacity Outlook (Revenue, USD Million, 2016 – 2027)

  • Low Duty

  • Medium Duty

  • Heavy Duty

Medical Pendant End-use Outlook (Revenue, USD Million, 2016 – 2027)

  • Hospitals

  • Clinics

  • Others

Medical Pendant Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Mexico

    • Brazil

    • Argentina

    • Colombia

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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