Medical Pendant Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Medical Pendant Market is Segmented by Product Type (Fixed Pendant, Single Arm Pendant, Dual/Multi - Arm Pendant, and Accessories), Application (Surgery, Endoscopy, Anesthesia, and Intensive Care Unit), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Medical Pendant Market Snapshot

Medical Pendant Market Size
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 6.1 %
Medical Pendant Market Major Players

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Market Overview

The medical pendant market was valued at USD 398.56 million in 2021, and it is expected to reach USD 573.77 million by 2027, registering a CAGR of 6.1% during the forecast period, 2022-2027.

The impact of COVID-19 on the medical pendant market was adverse in its initial phase, considering the postponement of surgeries and procedures worldwide in order to prevent the spread of the virus. For instance, as per the World Economic Forum Organization data, published in May 2020, approximately 28 million elective surgeries were canceled during the 12 weeks of the COVID-19 outbreak. As a result, patient visits to hospitals and ambulatory centers were severely disrupted, ultimately impacting the usage of medical pendants within healthcare settings. However, the World Health Organization's guidance update in June 2020 demanded that countries strengthen their healthcare systems and health security amid the pandemic. This resulted in the upgrading of several equipment in medical facilities, leading to an increase in the demand for medical pendants in intensive care units (ICUs) and critical care units (CCUs) for the care of COVID-19 patients. Thus, the impact of the outbreak in the post-pandemic phase is expected to boost the market's growth over the coming years.

Further, the factors driving the market's growth include increasing number of surgeries and improving healthcare infrastructure for better workflow. For instance, as per a September 2020 published article, titled "Estimation of the National Surgical Needs in India by Enumerating the Surgical Procedures in an Urban Community Under Universal Health Coverage", the reported rates of surgery vary from 295 in low- and middle-income countries (LMICs) to 23,000 in high-income countries (HIC) per 100,000 population. Moreover, as per the Organization for Economic Co-operation and Development (OECD), the number of cataract surgical procedures reported in the year 2020 in Turkey was 393,901. As per the same source, the number of hip replacement procedures performed in Italy in 2020 was 84,647, and cesarean section procedures were approximately 114,601. Thus, this growth in the number of surgical procedures is likely to increase the demand for medical pendant systems, thereby, contributing to market growth.

Additionally, noncommunicable diseases (NCDs) threaten the lives of 41 million people each year, accounting for 71% of all deaths worldwide, according to the World Health Organization (WHO) 2021. More than 15 million people between the ages of 30 and 69 die each year from an NCD, with 85 percent of early deaths occurring in low- and middle-income countries. Low and middle-income nations account for 77% of all NCD mortality. The most common NCD is cardiovascular disease, which kills 17.9 million people each year, followed by cancer (9.3 million), respiratory diseases (4.1 million), and diabetes (1.5 million). Thus, the growing burden of chronic diseases, which increases demand for various treatment procedures and surgeries, may ultimately increase the use of medical pendant systems, thereby driving the market in the future. Furthermore, the increasing commercial availability of new advanced systems is also contributing to market growth. For instance, Ondal Medical Systems GmbH offers MediBoom with Service Head M6, a single-arm movable medical pendant that can be integrated with the M6 MediSound-System. This system is manufactured using a special antibacterial material and is resistant to harmful bacteria. However, the high cost of medical pendant system set-up and the unavailability of skilled nursing staff are factors impeding the market's growth.

Scope of the Report

As per the scope of the report, medical pendant systems, majorly used in operating rooms, work as supportive equipment. They consist of multiple outlets for gas supply, light sourcing, and keeping other necessary equipment. The medical pendant market is segmented by product type (fixed pendant, single-arm pendant, dual/multi-arm pendant, and accessories), application (surgery, endoscopy, anesthesia, and intensive care unit), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

By Product Type
Fixed Pendant
Single-arm Pendant
Dual/Multi-arm Pendant
Accessories
By Application
Surgery
Endoscopy
Anesthesia
Intensive Care Unit
Geography
North America
Europe
Asia-Pacific
Middle-East and Africa
South America

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Key Market Trends

The Fixed Pendant Segment is Expected to Hold a Major Market Share

A fixed pendant system provides multiple sockets for the supply of gas, connecting ventilators, etc. It has a crucial role as a supporting device in hospitals to maintain safety and minimize the risk of contamination. It is commonly used in recovery rooms and intensive care units. The major factors driving the segment's growth include the rising number of surgeries, anesthesia, and endoscopy procedures. Fixed medical pendant systems are economical, lightweight, and can be easily installed, which further increases their demand in the market. Thus, an increasing prevalence of chronic diseases and an increasing number of hospitals using fixed pendant systems are driving the market's growth. During the COVID-19 pandemic in 2020, the medical pendant market showed positive growth owing to increased hospital admissions and the rising number of surgeries for patients suffering from chronic disorders. Moreover, these systems provide protection from infections and safety in hospitals.

In addition, as per the World Health Organization (WHO), as of April 12, 2022, there have been 497,960,492 confirmed cases of COVID-19, including 6,181,850 deaths. The growing numbers of COVID-19 patients in hospitals and the need for attention and care of these patients have increased the demand for fixed medical pendants.

Furthermore, according to the British Heart Foundation Centre, in 2022, in the United Kingdom, around 7.6 million people suffer from heart and circulatory disorders, an ageing and expanding population. The high prevalence of cardiovascular diseases increases the number of surgical procedures in the management of the disease, which ultimately drives the demand for pendant systems, positively impacting the segment growth.

Medical Pendant Market Trends

North America is Expected to Hold a Significant Share in the Market in the Forecast Period

Due to the increasing number of hospitals and improving healthcare infrastructure, North America is expected to be the dominant region in the medical pendant market. According to the American Hospital Association's 2021 survey, there were approximately 6,093 hospitals in the United States. Medical pendants in hospital settings provide an optimum workspace and wireless floors, which reduces the risk of accidents. Also, with hospitals evolving in terms of their infrastructure and equipment, the demand for medical pendants may rise and drive the market growth.

In the North American region, the United States has been the most affected country by COVID-19. As per the World Health Organization (WHO), as of April 12, 2022, there have been 79,647,331 confirmed cases of COVID-19, with 978,118 deaths. The increasing cases of COVID-19 are likely to drive the market as this will increase the demand for medical pendants for use in intensive care units to manage COVID-19 patients.

Furthermore, according to Healthgrades Operating Company Inc.'s 2021 updates, nearly 1.3 million pregnant women in the United States have their kids through C-sections each year. Every year, over a million Americans, undergo joint replacement surgery. Around 720,000 knee replacements and 330,000 hip replacements are included in this figure. Every year, over a million Americans, undergo joint replacement surgery. Around 720,000 knee replacements and 330,000 hip replacements are performed in America. Angioplasty, commonly known as PCI (percutaneous coronary intervention), is a surgery that opens congested coronary arteries. Every year, doctors perform around 500,000 PCIs. Also, according to a September 2020 update by the Centers for Disease Control and Prevention (CDC), heart diseases are the leading cause of death in the United States. The same source also reports that every year, about 805,000 Americans have a heart attack. Since mortality due to heart diseases is increasing, there is a continuous need for surgical procedures in order to avoid fatalities. Therefore, increasing number of surgeries is expected to drive the market as this will increase the demand for medical pendant systems. 

Thus, considering the aforementioned factors, the market is likely to register significant growth over the forecast period.

Medical Pendant Market Growth

Competitive Landscape

The medical pendant market is moderately fragmented and consists of several major players. The market players are adopting various growth strategies, such as the introduction of technologically advanced products, collaborations, mergers, expansions, and acquisitions. For instance, Trivitron Healthcare offers multi-purpose surgeon pendants, which consist of long vertical consoles and serve as both equipment and fluid management pendants during surgeries. Some of the market players include Drägerwerk AG & Co. KGaA, NOVAIR Medical, BeaconMedaes, Steris PLC, and Shenzhen Mindray Bio-Medical Electronics Co. Ltd., among others.

Recent Developments

In December 2020, Skytron LLC launched the new Freedom Boom, a medical pendant system with improved qualities such as no brakes or buttons to push toward pendant arms, Skytron’s unique Active Assist technology, limited space options, and advanced operation rooms with the ability to change components without removing the entire medical pendant structure. It also offers extra utility outlets for electricity and gases.

In November 2020, Steris PLC announced that it had completed the previously announced acquisition of Key Surgical. With the acquisition, the company strengthened and expanded its product offerings globally.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Number of Surgeries

      2. 4.2.2 Improving Healthcare Infrastructure

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Devices

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Fixed Pendant

      2. 5.1.2 Single-arm Pendant

      3. 5.1.3 Dual/Multi-arm Pendant

      4. 5.1.4 Accessories

    2. 5.2 By Application

      1. 5.2.1 Surgery

      2. 5.2.2 Endoscopy

      3. 5.2.3 Anesthesia

      4. 5.2.4 Intensive Care Unit

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 Middle-East and Africa

      5. 5.3.5 South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 BeaconMedaes

      2. 6.1.2 Brandon Medical Co. Ltd

      3. 6.1.3 Dragerwerk AG & Co. KGaA

      4. 6.1.4 Novair Medical

      5. 6.1.5 Ondal Medical Systems GmbH

      6. 6.1.6 Skytron LLC

      7. 6.1.7 Starkstrom

      8. 6.1.8 Steris PLC

      9. 6.1.9 Tedisel Medical

      10. 6.1.10 Elektra Hellas SA

      11. 6.1.11 Medimaxkorea Co. Ltd

      12. 6.1.12 Beijing Aeonmed Co. Ltd

      13. 6.1.13 Brandon Medical

      14. 6.1.14 Pneumatik Berlin GmbH

      15. 6.1.15 Shenzhen Mindray Bio-Medical Electronics Co. Ltd

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Global Medical Pendant Market market is studied from 2019 - 2027.

The Global Medical Pendant Market is growing at a CAGR of 6.1% over the next 5 years.

The Global Medical Pendant Market is valued at 398 Million USD in 2019.

The Global Medical Pendant Market is valued at 573 Million USD in 2027.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Drägerwerk AG & Co. KGaA , NOVAIR MEDICAL , BEACONMEDAES, Steris Plc, Shenzhen Mindray Bio-Medical Electronics Co., Ltd are the major companies operating in Global Medical Pendant Market.

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