The COVID-19 pandemic has impacted the global medical pendant market in a positive way. The reason attributing to the growth of the market is the surge in the medical engagement of COVID-19 patients and increasing demand of smart and effective patient care 24/7. The leading players of the market are focusing on developing strategies to sustain the market growth in the post-pandemic market.
The latest research report on the global medical pendant market by Research Dive reflects the influence of COVID-19 pandemic on the present and forthcoming growth of the global market. This report is a professional and comprehensive research formulated by specialists by evaluating top driving factors, major regional market situations, opportunities & future scope, and trends & developments in the market during the COVID-19 catastrophe.
– As per a pre-COVID analysis, the market was expected to garner a CAGR of 7.3% during the forecast period.
– The real-time CAGR of the market is 8.1% according to the latest report for the forecast period.
– The market was estimated to reach a revenue of $ 439.2 million in 2020 as per the pre-pandemic analysis.
– The real-time global market has garnered a revenue of $450.5 million.
• Factors Attributing to the Growth of the Market
As per our analysts, rapidly growing demand for medical pendants along with hike in government investments to improve hospital amenities are fueling the market growth. Apart from that, the growing numbers of COVID-19 patients in hospitals and the need for undivided attention and care of these patients have increased the demand for medical pendants.
• Impact of COVID-19 of the Market and Current Scenario
The leading players of the market are focused on developing new, innovative strategies to sustain the market growth. For example, in May 2019, European investment bank (EIB) has lend about $129 million to Drager, a leading company in medical and safety technology, for R&D investments to improve medical technology development.
According to the report, the global medical pendant market is projected to maintain a sustainable growth post the pandemic. New entrants and leading players are expected to bring in some newer innovative advances and rewarding opportunities for the market in next few years. The report also summarizes other important aspects of the key players including financial performance, product portfolio, SWOT analysis, and recent strategic moves and developments.