The Global Medical Pendant Market is presumed to garner USD 149.01 million during the forecast period (2017-2023). The market is anticipated to register 7% CAGR owing to the technological advancements, asserts Market Research Future (MRFR). Medical pendant is referred to as a wireless device which is designed to alert the healthcare professionals about the occurrence of any hazard or emergency which require immediate attention. A medical pendant system is usually installed on the ceiling of a hospital with a strong body system which is built of supporting rods and stainless-steel extensions. They are compact with customizable configurations to fulfill the requirements of healthcare centers and hospitals.
The growing need for low-risk and safe workspace for medical workforce is fueling the global medical pendant market during the assessment period. Technological advancements such as button-press enabled medical pendants which facilitate the system’s arm movement are further fostering the global market. Devices with multifaceted designs and ultra-flexible configurations are commercially available which focuses on fulfilling the requirements of the healthcare specialties. Such devices are expected to gain traction across the globe which is further likely to trigger the market growth in the coming years. Moreover, growing demand for medical pendants in the ICU and operating theatres are likely to spur the market growth.
On the flip side, high cost of medical pendants coupled with the lack of professional technicians are anticipated to impede the market growth in the coming years.
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March 21, 2018: Designed for seniors, TruSense, a smart home monitoring solution, has recently announced that it has added its first-ever smart personal emergency response pendant which combine GPS with notification when it is not being worn, thus extending protection even when outside the home. TruSense GPS Smart Pendant works in combination with TruSense Home. The combination offers customized alerts whenever the pendant is not being worn, thereby eradicating all the false sense of security created.
Market Research Future (MRFR) recognizes the following companies as the key players in Medical Pendant Market: There are plenty of large and small market players which operate in this market all over the globe.
The noteworthy players operating the global medical pendant market are MEDIMAXKOREA, Starkstrom, Tedisel Medical, Megasan Medikal, Surgiris, Brandon Medical Co. Ltd., BeaconMedæs, Skytron LLC, Elektra Hellas S.A., and Ondal Medical Systems GmbH.
The Global Medical Pendant Market has been segmented on the basis of product, application, and region.
By mode of product, the global medical pendant market has been segmented into fixed pendants, fixed retractable pendants, single arm movable pendants, double & multi-arm movable pendants, and accessories. Among these, the fixed pendants hold the largest market share, whereas the single arm moveable pendants account for the fastest growing segment.
By mode of application, the global medical pendant market has been segmented into hospital, clinics and others. The hospital segment is further sub-segmented into intensive care unit (ICU), operating theatre (OT) & recovery room (RR), and emergency room (ER). Among these, the clinics segment is expected to be the fastest growing segment.
The North American region heading with the presence of a large number of key players will retain its dominance over the global medical pendant market. Factors such as the presence of world-class healthcare infrastructure, superior healthcare practices, advanced facilities, and strict mandates from the regulating authorities drive the medical pendant market in the region. Also, increasing governmental support for the development of new pendants and R&D activities required for the same are some of the factors propelling the growth in the regional market.
The region is a hub for technology and witnesses constant advancements which is a key reason why North America has improved access to technology that allows the region to have the upper hand in the market. Moreover, the availability to develop advanced technologies alongside the presence of well-established infrastructure that enables a suitable environment for the development as well as the early implementation of advanced technologies helps to increase the size of the market to an extent.
The medical pendant market in the European region is another lucrative market, globally.
The market is predominantly led by robust healthcare penetration and high per capita income in the region.
Besides, additional factors such as the increased funding and the support from the public & private sectors for R&D activities and the resurging economy in the region that is playing a vital role in growing consumers purchasing power are providing impetus to the growth of the regional market. Germany with its flourishing medical devices market dominates the regional market whereas, the UK medical pendant market accounts for the second-significant market in the region.
The Asia Pacific medical pendant market is rapidly emerging as a profitable market, globally. Factors such as the vast technological advancements and the high uptake of these advanced technologies foster the growth of the regional market. Some of the technologically sound countries such as India, China, South Korea, and Japan are innovating technologically advanced pendants which as a result is keeping the APAC at the forefront of the competition.
Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
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