Global Single-arm Medical Pendant Market - 2022-2029

Global Single-arm Medical Pendant Market - 2022-2029

Market Overview

The global single-arm medical pendant market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

In the operating room of a hospital, a medical pendant is an essential gas supply medical gadget. It is mostly utilized in the operating room for the terminal transfer of oxygen, suction, compressed air, nitrogen, and other medicinal gases. Single-arm medical pendants provide the necessary services and equipment connection facilities for anesthesia and surgical reasons in operating rooms and delivery rooms.

Market Dynamics

The rise in the senior population, demand for minimally invasive operations, and the increased usage of single-arm medical pendants in surgeries and endoscopy are all driving the global single-arm medical pendant market. Furthermore, the global single-arm medical pendant market is predicted to develop due to an increase in the incidence of cancer and cardiac disorders and an increase in the number of laparoscopic procedures.

The Increasing adoption of minimally invasive surgeries over open surgeries will drive the market growth

Increasing the number of surgeries and developing healthcare infrastructure for improved workflow are two reasons driving market expansion.In addition, the government is increasing its support for maintaining a steady supply of medical equipment to fulfill consumer demand. These factors are having a significant impact on the growth of the medical pendant market.

According to the European Heart Journal, nearly 75% of upper gastrointestinal bleeding in a population was diagnosed in 2019. Furthermore, occurrences of upper gastrointestinal bleeding ranged from 80 to 150 per 100,000 population. Endoscopy is a test that is used to diagnose gastrointestinal bleeding. As a result, as the number of endoscopic procedures increases, the requirement for a pendant system may increase.

Chronic diseases are the major causes of mortality and disability worldwide, according to the World Health Organization (WHO) 2018. Chronic disease rates increase globally, advancing across all regions and saturating all socioeconomic strata. Chronic diseases accounted for 73 percent of all fatalities and 60 percent of the global disease burden in 2020. As a result of the growing burden of chronic diseases, which boosts demand for various treatment procedures and surgeries, the use of medical pendant systems may eventually increase, pushing the market in the future.

Furthermore, market participants' launch of new advanced goods contributes to market growth. Ondal Medical Systems GmbH, for example, provides MediBoom with Service Head M6, a single-arm mobile medical pendant that may be integrated with the M6 MediSound-System. This system is resistant to hazardous bacteria because it is unique antibacterial material.These factors are likely to boost the single-arm medical pendant market.

The high cost of setting up a medical pendant system is likely to hamper the market growth

However, the high cost of setting up a medical pendant system and the scarcity of experienced nursing staff are obstacles inhibiting the market growth.

COVID-19 Impact Analysis

On January 30, 2020, the World Health Organization (WHO) declared the COVID-19 outbreak a worldwide significant public health emergency. COVID-19 has affected approximately 210 nations worldwide. Because of the COVID-19 pandemic, governments worldwide declared country-wide lockdowns and social distancing measures to prevent healthcare systems from collapsing. Medical procedures and elective surgeries have been restricted or prohibited by governments. These constraints have stifled demand for single-arm medical pendants. Because of these constraints, single-arm medical pendant equipment manufacturers have difficulty doing in-person product demonstrations, running their facilities at full capacity, and attending conferences that assist develop future sales prospects. Furthermore, the shutdown in Asia-Pacific countries like China and India has caused delays in producing and transporting single-arm medical pendant items. These problems are projected to harm the single-arm medical pendant market's growth.

Segment Analysis

The surgery segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The surgery application contributed the most revenue and is expected to expand significantly during the forecast period. This is due to an increase in demand for minimally invasive surgeries, an increase in the frequency of chronic diseases, and an increase in the aged population.

According to World Health Organization,between 2015 and 2050, the share of the world's population aged 60 and up will nearly double, from 12% to 22%.By 2020, the number of persons aged 60 and more will outweigh youngsters under five.By 2050, 80 percent of the elderly will live in low- and middle-income countries.The population is aging at a considerably higher rate than in the past.

Geographical Analysis

North America region holds the largest market share of the global single-arm medical pendant market

North America is likely to dominate the medical pendant market because of the growing number of hospitals and their expanding healthcare infrastructure. In 2019, there were roughly 6,090 hospitals in the United States, according to the American Hospital Association's 2021 survey. Single Arm Medical pendants offer a comfortable working environment and wireless floors, reducing the danger of accidents. In addition, as hospitals evolve in terms of infrastructure and equipment, demand for medical pendants may increase, propelling market expansion.

The United States has been the most affected country in the North American region by COVID-19. According to the World Health Organization (WHO), there have been 28,345,585 confirmed cases of COVID-19 as of March 3, 2021, with 510,924 deaths. The rising number of COVID-19 cases is expected to boost the market, as it will raise demand for medical pendants used in intensive care units to manage COVID-19 patients. According to the American Heart Association, about 121.5 million US individuals had some cardiovascular disease in 2019, which has increased the demand for highly efficient and quick diagnostics, favorably boosting the market growth. Furthermore, according to Healthgrades Operating Company Inc.'s 2019 updates, around 500,000 women in the United States have a hysterectomy each year, approximately 460,000 US residents undergo a cholecystectomy, and approximately 1.3 million pregnant women seek C-section.

Furthermore, according to the OECD data, around 38,045 laparoscopic appendectomy procedures, 72,998 laparoscopic cholecystectomy procedures, and 105,689 caesarean section procedures were conducted in Canada in 2018. The rising number of surgeries is projected to boost the market, as will the demand for medical pendant systems. Given the aforementioned considerations, the market is expected to increase significantly over the forecast period.

Competitive Landscape

The single-arm medical pendant market is a highly competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Elektra Hellas SA, Starkstrom Ltd, HIPAC, Brandon Medical Company, Unicorn Medicals, Ondal Medical Systems, Beaconmed, Megasan Medika, Shanghai Pax Medical, Tedisel Medical SL, Dragerwerk AG, NOVAIR MEDICAL, Steris Plc, Shenzhen Mindray BioMedical, Electronics Co Ltd, among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the single-arm medical pendant market globally. For instance, In November 2020, The previously announced acquisition of Key Surgical by Steris PLC has been finalized. The acquisition strengthened and expanded the company's global product offerings.

Megasan Medical

Overview:

Megasan Medical Gas Systems began in the industry in 1981 by offering installation and maintenance services. In 1992, our company used its mounting and maintenance skills to develop central medical gas systems products.

Product Portfolio:

Single arm Pendant: Mounted on the ceiling with a straight connecting support and adjustable up to 340 degrees around its vertical axis.

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Visualize the composition of the global single-arm medical pendant market segmentation by application, type, end user, and region highlighting the key commercial assets and players.

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Excel data sheet with thousands of data points of global single-arm medical pendant market-level 4/5 segmentation.

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