Medical Pendant Market Size By Product (Fixed Pendant, Movable Pendant {Single-arm Movable Pendant, Multi-arm Movable Pendant}), By Installation (Ceiling Mounted Pendant, Wall Mounted Pendant), By Application (Intensive Care Unit (ICU), Surgery, Anesthesi

Medical Pendant Market Size By Product (Fixed Pendant, Movable Pendant {Single-arm Movable Pendant, Multi-arm Movable Pendant}), By Installation (Ceiling Mounted Pendant, Wall Mounted Pendant), By Application (Intensive Care Unit (ICU), Surgery, Anesthesia, Endoscopy), By End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Application Development Potential, Competitive Market Share & Forecast, 2022 - 2028

The global medical pendant market is expected to grow at a significant rate through 2028 driven by growing demand for ICU on account of increasing occurrences of chronic diseases.

Recently, leading companies have been investing in product advancements as well as overseas acquisitions that would help them grow their business in foreign countries. To cite an instance, in July 2020, Atlas Copco Group, the Swedish manufacturer of generators, gas equipment, and industrial tools, finalized the acquisition of MEDGAS-Technik GmbH, the leading German manufacturer of medical-technical systems. Through this move, Atlas Copco intended to extend its footprint in Europe and accelerate its commercial development with the integration of MEDGAS’ knowledge and product portfolio.

The medical pendant market has been bifurcated in terms of product, installation, application, end-use, and region. Based on product, the industry has been classified in terms of movable pendants and fixed pendants. The movable pendants sub-segment held the majority market share in 2021 with a valuation of approximately USD 338 million and is slated to achieve significant growth through the forecast period driven by high consumer preference and increasing adoption of moveable pendants.

With respect to installation, the medical pendant market has been divided into wall mounted pendants, ceiling mounted pendants, and others. The ceiling mounted pendants sub-segment held approximately 85% market share in 2021 and is subjected to progress at an exponential rate between 2022 and 2028 owing to the multiple clinical benefits provided by ceiling mounted pendants.

Based on application, the market has been categorized in terms of surgery, endoscopy, intensive care unit (ICU), anesthesia, and others. Due to the rising prevalence of chronic illnesses and escalating utility of ICU in critical disease management as well as therapeutics, the intensive care unit (ICU) sub-segment is anticipated to exceed USD 287 million valuation by 2028.

With regards to end-use, the medical pendant market has been bifurcated into hospital, ambulatory surgical centers, and others. The hospital sub-segment is set to expand significantly to reach more than USD 443 million in revenue by 2028 attributed to increased hospital admissions, higher healthcare spending, and rising adoption of these devices in hospitals.

From the regional standpoint, in 2021, the Middle East & Africa medical pendant market gained a valuation of around USD 18 million. The MEA market is set to witness substantial growth over 2022-2028 supported by mounting product adoption in various nations across the region.