The growing need for a safe and low-risk work space for the medical workforce is driving the global medical pendant systems market. Medical pendant systems help provide correct positioning of terminal units, medical equipment, medical gas, and specialty and electrical services, thus fulfilling the requirements of a hospital. Moreover, since electrical and gas services are facilitated from the ceiling, cable clutter is eliminated, making the place safer and cleaner for activities and movement of medical professionals.
The global medical pendant systems market is segmented on the basis of type, application, and geography. On the basis of product the market is segmented into fixed, fixed retractable, double multi-arm, and single arm movable. By application, the global medical pendant systems market is segmented into surgery, anesthesia, endoscopy, and ICU.
The report offers a detailed overview of the market segments and sub-segments. The trends and opportunities in the market are discussed at length. A detailed analysis of factors driving and restricting the market has been included. The report presents an evaluation of the market by making use of historical data, current market status, and qualitative insights. The macro and microeconomic indicators have also been analyzed in the study.
Overview of the Medical Pendant Systems Market
The global medical pendant systems market is driven by the growing need for these systems in intensive care units and operating theaters. The adoption of medical pendant systems has been fueled by the effective results achieved in the areas of endoscopy and surgery. A growing demand for medical support systems with advanced features is another factor driving the market. Moreover, innovation and technological advancements enabling medical pendant systems to move as needed by the press of a button are encouraging the adoption of these systems. However, the market is restricted by the high cost of medical pendant systems, causing many hospitals to hesitate in adopting these systems. Hospitals unable to afford these systems contemplate using alternatives, which can be a threat to the growth of the market.
The rising demand for flexible, more space saving, and light-weight systems and systems with multiple features is compelling manufacturers to design and develop newer systems with advanced features. This is leading to many product innovations and will thus boost the demand for medical pendant systems. Another trend in the market is the development of medical pendant systems with higher number of electrical points and gas services. The high usage of electronic devices by hospitals is driving this trend. Such innovations in products are expected to open new doors of opportunities in the market.
The global medical pendant systems market is segmented on the basis of geography into Europe, Asia Pacific, North America, and the Rest of the World. Of these, North America led the market in 2015. The market in Asia Pacific is expected to grow considerably owing to higher investments in the healthcare sector. By type, the demand for fixed retractable medical pendants is expected to be high, as per TMR analysts.
Companies Mentioned in the Report
The report profiles major players operating in the global medical pendant systems market. The business and financial overviews of each of the companies have been included. Factors driving and limiting the growth of the companies are also included. The report includes strategies adopted by key players, their recent developments, and product picture and specifications. This enables readers and enterprises to make informed decisions regarding investments in the global medical pendant systems market. Following are the companies studied in the report: ELEKTRA HELLAS, Uttam,Starkstrom, Hipac, Unicorn Medicals, Ondal, Brandon Medical, Beacon Medaes, Medilon, and Medimax.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.