Single-arm Medical Pendant Market Expected to Reach $516 Million by 2030

According to a new report published by Allied Market Research, titled, “Single-arm Medical Pendant Market by Application, Type, and End User: global opportunity analysis and industry forecast, 2021–2030," the global single-arm medical pendant market size was valued at $278 million in 2020, and is projected to reach $516 million by 2030, registering a CAGR of 6.5% from 2021 to 2030.

Single-arm medical pendant is a system designed to support high load of instruments in areas such as operating theaters or intensive care units. These pendants are provided by highly maneuverable arms with sufficient range to be able to reposition the bed space to suit specific nursing practices without risk of entanglement or occlusion. Single-arm medial pendant provides safe and low risk areas to healthcare professionals, as it is used to improve the efficiency of healthcare professionals while performing surgeries and operations.

Increase in number of patients requiring surgical operations and rise in healthcare facilities such as hospitals and surgical centers boost the growth of the global single-arm medical pendant market. Furthermore, technological advancements in medical pendants is the major factor contributing toward the growth of the global single-arm medical pendant market. In addition, rise in focus on increasing applications of single-arm medical pendant in anesthesia endoscopy is expected to provide beneficial opportunities for the market. However, high cost of single-arm medical pendant system and stringent rules & regulations associated with product approval are major the factors that are expected to hinder the market growth in the upcoming years.

COVID-19 was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. Lockdown, government regulations regarding the nonessential planned surgeries and procedures based on the need of critical situations, and continuous increase in infection rate across the country created a widespread financial impact on neurology hospitals and clinics. Large number of hospitals and clinics have witnessed a drop in number of patient visits amid COVID-19, ultimately reducing client contact.

The overall impact of COVID-19 remains negative on the medical pendant market, owing to decline in number surgeries. This surgery requires the routine use of reusable surgery equipment for treatment, which can be infected with SARS COV-2 virus. Furthermore, WHO issued guidelines regarding the nonessential planned surgeries and procedures based on the need of critical situations. The guidelines suggest to provide surgical services to patients who require urgent attention and postpone the surgeries if not urgent, which lead to decline in the demand for single-arm medical pendant products.

Thus, decrease in demand for single-arm medical pendant products, as single-arm medical pendant is used in operation theaters during surgical procedures. For instance, as per report from Hong Kong in 2020, based on experience with SARS, the risk of infection is 5% for physicians, 4% for nurses, and 8% for healthcare assistants. It emphasized the importance of practicing strict isolation, infection control measures, and adherence to use of personal protective equipment (PPE). All these factors are anticipated to impact the single-arm medical pendant market.

The global single-arm medical pendant market is segmented into on application, type, end user, and region.

On the basis of application, the market is categorized into surgery, anesthesia, endoscopy, and intensive care unit (ICU). The surgery segment dominated the global market in 2020, and is anticipated to remain dominant during the forecast period. Key factors such as increase in the number of surgeries and rise in health concerns among consumers are expected to drive the market. Furthermore, increase in adoption of movable medical pendant in operation theaters and surgery centers drive the growth of single-arm medical pendant market.

By end user, the market is categorized into hospital, clinics, and others. The hospital segment is anticipated to exhibit significant growth during the forecast period. This is attributed increase in number of patients suffering from cancer, neurovascular disorders, and cardiovascular disorders. Moreover, increase in geriatric population, rapid urbanization & industrialization, rise in per capita income, and high investments in research & development activities to develop single-arm medical pendant system or product drive the growth of the market.

Key Findings Of The Study

• On the basis of application, the surgery segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• Depending on type, the flexible medical pendant segment held largest market share in 2020, and is expected to remain dominant throughout the forecast period.
• On the basis of end user, the hospital segment was the major share contributor in 2020, and is expected to remain dominant throughout the forecast period.
• Region wise, North America is expected to experience growth at the highest rate, registering a CAGR of 5.6% during the forecast period.

In 2020, North America accounted for the major share in the single-arm medical pendant market, owing to increase in geriatric population, rise in R&D investments in developments of single-arm medical pendant products, and supportive government initiatives directed to increase the healthcare expenditure. However, Asia-Pacific is projected to register the fastest growth during the forecast period, owing to increase in number of geriatric population, rise in number of people suffering from cancer, and increase in demand for single arm medical pendant system.