Medical Pendant Market Size

Medical Pendant Market Size

Medical Pendant Market size surpassed USD 494 million in 2021 and is estimated to register around 6% CAGR between 2022 and 2028. The growing incidence of chronic diseases that require surgical intervention and rise in the surgical procedures are stimulating the market growth.

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Certain surgical interventions incorporate medical pendant to optimize workflow and clinical efficiency that is set to drive the adoption of these devices and drive the market potential. In addition to this, subsequent technological advancements in medical pendant are further expected to render significant impact, driving the market statistics.

Medical pendant, also called as surgical boom or ceiling pendant are designed to offer support for other equipment throughout the surgical procedures in operating room or in facilitating operations in the intensive care units (ICU). Medical pendant is developed to ergonomically centralize the procedural support equipment and utility services for surgeons & operating room staff. These devices are used in healthcare settings to facilitate easy access to medical gases including oxygen, nitrogen, & carbon dioxide and electrical power.
 

However, high cost of medical pendant may negatively impact the industry growth. Medical pendant being a capital equipment, requires considerable investment. The high cost of acquisition of medical pendant hampers its adoption rate, especially in the emerging markets. For instance, an average cost of a multi-arm pendant is more than USD 2,000. While the acquisition cost of a high-end fixed pendant or an ICU bridge pendant is around USD 8,000 and onwards. These are only the costs associated with acquiring the device, the maintenance costs add to the additional costs of these units. Furthermore, in low-middle income countries, such a high cost of equipment limits majority of the healthcare practitioners from opting for the product. Thus, high cost of the device may impede the medical pendant industry growth.
 

The COVID-19 pandemic emerged as an unparalleled public health concern and inflicted significant disease burden & financial adversities on multiple industrial sectors. Many sectors witnessed drastic transitions including the healthcare sector in 2020. Hospital admissions and healthcare services were delivered to the COVID-19 infected patients, prioritizing the emergent cases, with majority of the other surgical interventions on halt. The U.S. government implemented a lockdown, national emergency, and the associated health organizations postponed several non-emergency medical procedures in healthcare settings. This has led to the delay in multiple medical procedures across various countries.
 

However, despite these developments, the heightened usage of ICU and increased demand for medical pendant that supply crucial medical gases including oxygen surged owing to pandemic. Further, the World Health Organization (WHO) proposed revised guidance that concentrates on bolstering healthcare systems and infrastructure during the COVID-19 pandemic. These developments uplifted the demand for improvement of healthcare settings, further facilitating the market expansion.