Yahoo Finance Global Medical Pendant Market to Projected to Garner $775.1 Million by 2027, Despite the COVID-19 Pandemic – Exclusive Report [150 Pages] by Research Dive
The COVID-19 outbreak around the globe has progressively impacted the global medical pendant market due to rapidly increase in number of hospital admissions across the globe. The global market is projected to continue to witness strong growth by 2027.
New York, USA, Sept. 20, 2021 (GLOBE NEWSWIRE) -- A research report published by Research dive on the global medical pendant market explains the impact of COVID-19 pandemic on the current scenario and the future of the market. All-inclusive analysis on drivers, restraints, growth opportunities, challenges, COVID-19 impact, major segments of the market, and competitive landscape are provided in the report.
Report Highlights
The COVID-19 outbreak has had favorable impact on the global medical pendant market. According to the report, the global medical pendant market gathered $410.9 million in 2019, and is projected to garner $775.1 million by 2027, and exhibit a CAGR of 8.1% during the forecast period from 2020 to 2027. The estimated market size in 2020 was $439.2 million before the outbreak of coronavirus. But, due to the coronavirus chaos, the market size increased to $450.5 million due to the growing demand for medical pendants majorly from hospitals and clinics across the globe.
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Factors Impacting the Market Growth during COVID-19 Pandemic
As per the analysts of Research Dive, the increase in number of hospital admissions along with the rise in number of surgeries for chronic disorder patients who are suffering with chronic disorders are the major factors boosting the medical pendant market growth in the pandemic period. In addition, the positive market growth during the pandemic is mainly because the World Health Organization (WHO) is functioning with medical equipment manufacturers and governments around the world for increasing medical device production in order to meet the constant supply of demand. Moreover, increasing healthcare expenditure for adoption of advanced medical devices & accessories to conduct regular surgeries are expected to boost the medical pendant market growth during the unprecedented times.
Future Scope of the Market
The global medical pendant market is expected to continue to witness prominent growth even after the pandemic during the forecast period, majorly due to various benefits of medical pendants, such as maintaining safety & efficient workflows in hospitals during surgeries, safe connection to data & power networks, and providing flexible & stable platform for medical devices and accessories. In addition, rapidly increasing healthcare infrastructure to enhance and improve hospital as well as clinical facilities is another factor expected to bolster the market growth in the projected timeframe.
Furthermore, constant technological advancements in medical pendant systems is estimated to generate substantial growth opportunities for the medical pendant market by 2027. For instance, Surgiris, the leading designer, manufacturer, and marketer of innovative surgical lights, ceiling pendants, and distribution columns for operating theatres, has introduced revolutionary medical pendant system with E-Brake (electromagnetic brakes) to provide simple, safe, and easy-to-use equipment.
Connect with Analyst to Reveal How COVID-19 Impacting On Market: https://www.researchdive.com/connect-to-analyst/358
Prominent Market Players
The key players operating in the global medical pendant industry include -
Hutz MedicalHu
Surgiris
Bradon Medical
Mediland
Ondal Medical Systems GmbH
Amico
Starkstrom
BeaconMedaes
SKYTRON, LLC
Trivitron Healthcare
Tediselmedical
These players are implementing various strategies such as strategic partnerships, technological advancements, product launches, and others to gain a competitive edge in the global industry. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report
For instance, in December 2020, Skytron, LLC, the healthcare efficiency specialist and the original equipment manufacturer (OEM), announced the launch of new medical pendant system, ‘Freedom Boom.’ The improved qualities of Freedom Broom include no buttons or brakes to push towards pendant arms, providing limited space option and Skytron’s unique Active Assist technology.
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