Market Trends of Global Single-arm Medical Pendant Industry
This section covers the major market trends shaping the Single-arm Medical Pendant Market according to our research experts:
The Anesthesia Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The anesthesia segment is expected to dominate the single-arm medical pendant market owing to the rise in the number of anesthesia procedures globally due to the increasing burden of surgical procedures coupled with chronic diseases. The single-arm anesthesia pendant provides convenient positioning of medical equipment, medical gas terminal units, and electrical and specialty services. The single-arm anesthesia pendant offers the necessary medical gas and power output terminals. It is used to set up anesthesia working areas, integrate anesthesia machines, monitor, infusion pump, and anesthesia information station, and allows rapid movement.
An increase in the prevalence of chronic diseases is expected to increase the total number of surgeries and anesthesia procedures. And the rise in anesthesia procedures will create the demand for an advanced medical pendant in the industry. For instance, according to an article published in June 2021 titled "German Heart Surgery Report 2020: The Annual Updated Registry of the German Society for Thoracic and Cardiovascular Surgery," there were approximately 29,444 isolated coronary artery bypass grafting procedures; 35,469 isolated heart valve procedures; and 843 assist device implantations (including left/right/biventricular assist devices) registered in Germany. According to the same source, the number of solitary heart transplants in Germany has surged to 340, a 2.1% increase over the previous year.
Additionally, as per the British Heart Foundation's August 2022 statistics, in 2022, about 7.6 million people suffer from heart and circulatory disorders in the United Kingdom. The high prevalence of cardiovascular diseases increases the number of surgical procedures for the management of the disease, which ultimately drives the demand for single-arm medical pendant systems, thus positively impacting segment growth.
Thus, owing to the abovementioned factors, the market segment is expected to project significant growth over the forecast period.
North America is Expected to Dominate the Market Over the Forecast Period
North America is estimated to dominate the single-arm medical pendant market due to the presence of key single-arm medical pendant providers in the region coupled with advanced healthcare infrastructure. For instance, according to the data published by the American Hospital Association in 2022, there are about 6,093 hospitals in the United States. According to the same source, there are about 2,960, 1,228, 951, 207, 635, and 112 nongovernment not-for-profit community hospitals; investor-owned (for-profit) community hospitals; state and local government community hospitals; federal government hospitals; and nonfederal psychiatric hospitals, respectively. Also, according to Canada.ca, there were around 1,265 hospitals in Canada in 2022. Thus, the high number of healthcare facilities is expected to increase the demand for single-arm medical pendants in the region.
Moreover, the increasing prevalence of chronic diseases is one of the key factors for the growth of the market. According to the American Cancer Society's 2022 statistics, there are 1,918,030 new cases of cancer in the United States. Furthermore, according to statistics published by the Government of Canada and released in November 2021, an estimated 229,200 Canadians are diagnosed with cancer, and 84,600 will die from cancer every year. Thus, the increasing prevalence of chronic diseases is expected to increase the need for surgical procedures and thereby drive the demand for single-arm medical pendants in the region.
Thus, due to the abovementioned factors, the single-arm medical pendant market is likely to grow over the forecast period in the North American region.
