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Medical Pendant Market size to exceed $731mn by 2028

  • Published Date: April 8, 2022

Medical Pendant Market size is set to surpass USD 731 million by 2028, according to a new research report by Global Market Insights Inc.

The rising number of hospital admissions due to patients suffering from various chronic diseases and increasing number of surgeries related to those treatment have led to a substantial upsurge in medical pendant among various healthcare facilities, thereby propelling the product demand.

The increasing number of patients suffering from various chronic diseases such as heart disease, cancer, and diabetes among others are major reasons of mortality and morbidity among patients. In order to treat these diseases patients, undergo through various surgical procedures during the treatment. This has resulted in a significant rise in hospital admissions in recent year among various developing countries.

Rising prevalence of chronic diseases is expected to propel the market expansion

The rising number of patients suffering from chronic disease across all age categories is one of the primary factors fueling the medical pendant market growth. Some of the chronic diseases can be fatal and require immediate attention with respect to surgical treatment that drives the product adoption by healthcare settings. According to the reports published by the Centers of Disease Control and Prevention (CDC), various heart diseases account for around 17.9 million deaths in the U.S. every year.

Additionally, these deaths account over 32% of the total global death rate and out of which 85% of mortality was due to heart attack and stroke. Significant rise in cholesterol, blood pressure, unhealthy diet, low physical inactivity, uncontrolled use of tobacco, and alcohol among others are the risk factors of heart disease and stroke. The surge in chronic diseases have promoted the demand for advanced medical pendants that are used in operational procedures that in turn will drive the industry demand.

Growing adoption of fixed medical pendant is anticipated to spur the market statistics

Based on product, the medical pendant market is segmented as fixed pendants and movable pendants. The fixed pendant segment is projected to witness 5.7% CAGR during the analysis timeframe. This is attributed to the surging prevalence of chronic diseases and increasing number of inpatient hospitalizations for diagnosis and surgical treatment. The increased number of operations, anesthesia, and endoscopic procedures are important drivers fueling the product demand.

A fixed pendant system has many sockets for gas supply and connecting ventilators.  It is an essential equipment in hospitals as a supporting device for maintaining safety and reducing the risk of contamination. It is often employed in intensive care units and rehabilitation suites. Therefore, rising prevalence of chronic diseases and increasing number of surgical procedures is predicted to drive the business landscape.

Browse key industry insights spread across 200 pages with 284 market data tables & 16 figures & charts from the report, Medical Pendant Market Analysis By Product (Fixed Pendants, Movable Pendants { Single-arm Movable Pendants, Multi-arm Movable Pendants }), By Installation (Ceiling Mounted Pendants, Wall Mounted Pendants), By Application (Intensive Care Unit, Surgery, Anesthesia, Endoscopy), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028in detail along with the table of contents:

Rising number of wall mounted pendants in hospitals and ambulatory surgical centers is estimated to attract a large customer pool

Medical pendant market from wall mounted pendants segment is predicted to reach USD 82 million by 2028. This is due to the several advantages provided by wall mounted medical pendants, such as improved ergonomics, and diverse functionality. Wall-mounted pendants provide a high-quality light source that allows doctors and nurses to evaluate patients. These medical pendants have rounded edges and seamless faceplates that helps in preventing disinfection and improving hygiene. In high-dependency healthcare facilities, wall mounted medical pendant are widely preferred in various surgical procedures. Thus, numerous advantages offered by wall mounted medical pendant are set to accelerate the business expansion.

Surgeries associated with increasing prevalence of chronic diseases is poised to foster the industry landscape

Based on application, the medical pendant market is segmented as intensive care unit (ICU), surgery, anesthesia, endoscopy, and others. The surgery segment is set to surpass USD 231 million by 2028. This is attributed to increasing number of surgeries across the globe. The growing number of surgical procedures performed by minimally invasive procedures will enhance the overall market progression.

Laparoscopy and endoscopy are some of the most common minimally invasive surgeries performed every year. Several manufacturers are emphasizing on providing advanced system configuration to support the needs of healthcare facilities by providing efficient access to equipment, allowing the surgeon and clinical staff with greater flexibility for patient positioning during surgical procedures. Moreover, innovation and technological advancements enables the adoption of medical pendant systems by surgeons and healthcare professionals.

Surging number of ambulatory surgical centers offering early disease diagnosis is forecast to augment the market statistics

Medical pendant market is segmented as hospital & clinics, ambulatory surgical centers, and others. The ambulatory surgical centers segment is projected to expand at 6.3% CAGR through 2028. This is owing to the easy availability of high advanced medical pendant, skilled professionals, effective diseases management, and the growing prevalence of chronic conditions such as prostate cancer, heart disease, and neurological diseases among others.

Furthermore, the increased prevalence in developed countries with improved healthcare infrastructure would have a substantial impact on product acceptance. The increased disease prevalence will substantially drive the disease diagnosis and treatment rates in ambulatory surgery facilities. As a result, the accessibility to these high technological operating rooms with best medical pendent coupled with skilled workforce and increasing number of patients admission are set to boost the product demand.

Authors: Sumant Ugalmugle, Rupali Swain

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