Medical Pendant Market Growth, Market Insights and Forecast to 2025
Posted by rekha on September 13th, 2019
Precision Business Insights (PBI) in its report titled “Global Medical Pendant Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024” assesses the market performance over seven years forecast period over 2018-2024. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global medical pendant market was valued at US$ XX Mn in 2017 and increasing at a significant CAGR over the forecast timeframe owing to increasing demand for medical support systems with advanced features, enhancing demand for flexible, more space saving, and light-weight systems with multiple features, favorable government initiatives, and technological advancements such as button-press enabled medical pendants are expected to drive the global medical pendant market. However, high cost of medical pendants and lack of professional technicians are anticipated to hinder the revenue share of global medical pendant market.
Global medical pendant market segmented on the basis of type, application, and region
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Fixed type pendants Dominates the Global Medical Pendant Market
Based on the type of medical pendants, global medical pendant market segmented into fixed, fixed retractable, single arm movable, double multi-arm movable. Among them fixed medical pendant dominated the global medical pendant market in 2017 and estimated to dominate over the forecast period owing to rise in demand, ease of handling and maintenance are surge the market over the forecast years. However, a faster growth rate observed for the fixed retractable medical pendant due to the advancements in those pendants.
North America leads the Global Medical Pendant Market
PBI’s global medical pendant market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis, North America accounted for larger revenue share through 2013-2017 and expected to dominate over 2018-2024 owing to presence of key market players, increasing geriatric population, increasing prevalence of chronic diseases and increase in interest towards the safety in healthcare services and technological advancements in the medical pendants coupled with launching of newer products are propel the market. Asia pacific medical pendant market projected to exhibit significant growth owing to the presence of advanced instruments in multispecialty hospitals and the larger patient pool are expected to enhance the market.
Launch of newer products, frequent ecofriendly product approvals, and strategic alliances are the key strategies adopted by market players
Global medical pendant market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent ecofriendly product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
Key player’s profiles in the report are
By Product Type
For more information: https://www.precisionbusinessinsights.com/market-reports/medical-pendant-market/
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About the Authorrekha
Joined: July 26th, 2019
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