Medical Pendant Market Forecast To Show Huge Growth Medical Pendant Industry According to a recent

Rahul Nikade

Right Now

Medical Pendant Market Forecast To Show Huge Growth

Medical Pendant Industry

According to a recent report published by Grand View Research, Inc., the global medical pendant market is projected to reach a valuation of USD 845.51 million by the year 2030. During the forecast period, the market is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.69%. The rising number of patients requiring chronic care, along with increasing investments aimed at improving healthcare infrastructure worldwide, are among the primary factors anticipated to drive the demand for medical pendants in the coming years.

A significant contributor to the expansion of the medical pendant market is the growing number of patients in need of consistent and specialized medical attention. Specifically, the aging global population and the increasing prevalence of both chronic and infectious diseases have resulted in a substantial rise in hospital admissions for critical care. This trend has, in turn, heightened the demand for the installation of medical pendants in healthcare facilities, thereby supporting overall market growth.

Furthermore, the emergence and continued development of advanced healthcare institutions, including super-specialty and multi-specialty hospitals, is expected to fuel the need for medical pendant systems. For example, data from the American Hospital Association in 2020 reported the existence of 6,146 acute care and critical access hospitals in the United States alone, reflecting a large potential market for pendant installations.

Additionally, the global healthcare landscape witnessed a dramatic shift due to the COVID-19 pandemic. The unprecedented outbreak led to an urgent and widespread demand for enhanced healthcare services and robust medical infrastructure to manage the surge in infected patients. Medical pendants—essential components in modern medical care settings—have seen a spike in global demand as a result. These systems, which support medical gas systems, electrical power outlets, and critical care equipment, became vital in ensuring operational efficiency during the health crisis. Consequently, the pandemic's onset in 2020 significantly accelerated the adoption of medical pendants, thereby contributing positively to market growth.

Curious about the Medical Pendant Market, Download your FREE sample copy now and get a sneak peek into the latest insights and trends.

Medical Pendant Market Segments Highlights:

Based on product, the fixed segment dominated the market in 2022 with a share of 30.88% owing to its higher adoption in surgeries, anesthesia, endoscopy, and intensive care units
Based on application, the surgery segment dominated the market in 2022 with a share of 28.99%, owing to the increasing number of surgical procedures worldwide
Based on capacity, the low duty segment accounted for a significant market share in 2022 owing to the rising demand for the low-cost fixed arm pendants in small hospitals and small clinics
Hospital segment dominated the overall market with a share of 46.31% in 2022, owing to the increasing number of hospitals, globally, and rising government funding for the hospitals. For instance, the Australian government provides 41.0% of the public hospital funding and 24.0% of the private hospital funding
North America dominated the market with the highest revenue share of 31.23% in 2022 due to the well-established healthcare infrastructure, high incidence rate of the chronic disorders, and extensive public funding in the healthcare system

Medical Pendant Market Report Segmentation

Grand View Research has segmented the global medical pendant market based on the product, application, capacity, end use, and region:

Medical Pendant Product Outlook (Revenue, USD Million, 2018 - 2030)