U.K. Medical Pendant Market to Surpass US$ 25.5 Million by 2027 - Coherent Market Insights

U.K. Medical Pendant Market, by Product Type (Fixed Pendant, Rotary Pendant, and Movable Pendant) and by Application (Surgery, Anesthesia, Endoscopy, and Intensive Care Unit (ICU)) is estimated to be valued at US$ 17.3 million in 2020 and is expected to exhibit a CAGR of 5.6% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.

Market players are focusing on product launches to strengthen their position in the market. For instance, in December 2020, Skytron, LLC launched new Freedom Boom, a medical pendant system with  improved qualities such as no brakes or buttons to push towards pendant arms, Skytron’s unique Active Assist technology, and provide limited space options and advance operation rooms with the ability to change components without removing the entire medical pendant structure. Freedom Boom also offers extra utility outlets for electric, gases.

Moreover, key companies are focusing on inorganic strategies such as mergers and collaborations to strengthen their position in the market. For instance, in November 2020, Steris announced that it completed the previously announced acquisition of Key Surgical, a portfolio company of Water Street Healthcare Partners, LLC. The company also stated that the acquisition strengthened and expanded STERIS’s product offerings, globally.

U.K. Medical Pendant – Impact of Coronavirus (COVID-19) Pandemic

• Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 96.2 million infected individuals worldwide and 3.47 million infected individuals in the U.K., as of January 20, 2021.
• In European region, regulatory bodies are taking various initiatives such as lifting custom duties and value added tax (VAT) on import of essential medical equipment and products. According to European Commission report published in 2019, all member states including the U.K. approved all requests stated by European Commission. The request were as follows: lifting up custom duties and value added tax (VAT) charges on import of essential medical equipment during the COVID-19 crisis and EU customs legislation (Council Regulation (EC) No 1186/2009) would provide the possible grant duty relief for the ‘benefit of disaster victims’.
• Moreover, the regulatory bodies have introduced temporary restriction on the export of medical supplies during COVID-19 pandemic period. According to European Commission report published in 2020, European Commission has imposed temporary restriction on at least 75 countries for the export of medical supplies and medical equipment.

Browse 12 Market Data Tables and 13 Figures spread through 105 Pages and in-depth TOC on “U.K. Medical Pendant Market, Product Type (Fixed Pendant, Rotary Pendant, and Movable Pendant) and by Application (Surgery, Anesthesia, Endoscopy, and Intensive Care Unit (ICU)).

To know the latest trends and insights prevalent in the U.K. medical pendant market, click the link below:

https://www.coherentmarketinsights.com/market-insight/uk-medical-pendants-market-4405

The U.K. medical pendant market is expected to exhibit high growth over the forecast period, owing to increasing surgical procedures in the U.K. According to the European Commission report published on 2020, the count of various surgeries performed in the U.K. in 2018 are as follows:

• Approximately 750 cataract surgeries in among 100,000 individuals were performed in the U.K. in 2018
• Approximately 300 cesarean section surgeries in among 100,000 individuals were performed in the U.K. in 2018
• Approximately 187 hip replacement surgeries in among 100,000 individuals were performed in the U.K. in 2018
• Approximately 140 total knee replacement surgeries in among 100,000 individuals were performed in the U.K. in 2018

Approximately 87 appendectomy surgeries in among 100,000 individuals were performed in the U.K. in 2018 and according to the same source, there has been significant increase in number of surgeries since 2013 (in U.K only 141 knee replacement surgeries were recorded among 100,000 individuals in 2013) and is also expected that the number of surgical procedures will increase over the forecast period

Key Takeaways of the U.K. Medical Pendant Market:

• The U.K. medical pendant market is expected to exhibit a CAGR of 5.6% during the forecast period, owing to strategic mergers and acquisitions
• Among product type, rotary pendant segment is expected to hold dominant position in the U.K. medical pendant market in 2020, owing to approvals of new and advanced products by regulatory authorities
• Among application, the surgery segment is expected to hold dominant position in the U.K. medical pendant market in 2020, owing to increasing number of surgeries such as angioplasty and laparoscopic appendectomy in the U.K., which is expected to drive the U.K medical pendant market growth
• Key players operating in the U.K. medical pendant market include BeaconMedaes, Drägerwerk AG & Co. KGaA, Steris, Brandon Medical, Starkstrom, PneumatechMGS, Modular Services Company, Skytron, LLC, and Trumpf Medical