Global Medical Power Supply Market Segmentation, By Converter Type (AC-DC Power Supply, DC-DC Power Supply), Architecture (Enclosed Power Supplies, Open Frame Power Supplies, External Power Supplies, U-Bracket Power Supplies, Configurable Power Supplies, Encapsulated Power supplies), Application (Diagnostic and Monitoring Equipment, Home Medical Equipment, Surgical Equipment, Dental Equipment), Manufacturing Type (Standard Power Supply, Customized Power Supply, CF Rating Power Supply), End User (Hospitals, Ambulatory Surgical Centers, Clinics, Long Term Care Centers, Diagnostic Centers, Rehabilitation Centers, Home Care Setting) – Industry Trends and Forecast to 2031.
Medical Power Supply Market Analysis
Globally, the rapid growth of the ageing population is a major source of concern. According to the reports of a 2016 World Health Organization report, the geriatric population accounts for almost 22% of the global population. The high geriatric population further increases requirement of medical devices and biotechnology products as they require more primary medical attention and assistance. Consequently, the demand for various disposable supplies, medical equipment and other patient monitoring and treatment devices has increased over the years. The market is projected to show substantial growth over the forecasted period.
Medical Power Supply Market Size
Global medical power supply market size was valued at USD 1.60 billion in 2023 and is projected to reach USD 2.84 billion by 2031, with a CAGR of 7.40% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Medical Power Supply Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa
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Key Market Players
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Advanced Energy Industries Inc., (U.S), Delta Electronics Inc., (Taiwan), TDK-Lambda Corporation (Japan), SL Power Electronics Corp (U.S), XP Power (Singapore), Spellman High Voltage Electronics Corporation (U.S), COSEL Co. Ltd., (Japan), FRIWO Gerätebau GmbH (Germany), Bel Fuse Inc., (U.S), MEAN WELL Enterprises Co., Ltd. (Taiwan), GlobTek Inc., (U.S), Wall Industries Inc., (U.S), SynQor Inc.,(U.S), Inventus Power (U.S), and Astrodyne TDI (U.S)
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Medical Power Supply Market Definition
The equipment used to deliver current to medical devices is known as a medical power supply. They are separate and self-contained devices. They are sometimes incorporated into larger devices or equipment. They provide isolation between the alternating current (AC) input, internal high voltage systems, and the direct current (DC) output by combining conductors and electronic components. Enclosed, open frame, external, programmable, U-bracket, and encapsulated devices are some of the most regularly used medical power supply systems.
Medical Power Supply Market Dynamics
Drivers
- Growing Need For Healthcare Setups
The rapidly growing geriatric population coupled with the increasing incidences of chronic diseases are the most significant factor driving the growth for this market. Moreover, the rise in the number of healthcare facilities may increase the demand for medical power supply which are also expected to accelerate the overall growth of the market.
Furthermore, the rise in the market penetration of the portable and integrated medical devices along with the rise in the acceptance of the home-use healthcare products are also expected to fuel market growth. Moreover, the rising demand for portable and home-based devices also cushions the market’s growth within the forecasted period. The growing awareness regarding advantages of the medical power supply such as the better thermal management, improved power factor correction and reduced audible noise are also projected to bolster the growth of the market.
Opportunities
- Research and Advancements To Offer Numerous Growth Opportunities
Moreover, the increase in the research expenditure on the energy-efficient power supplies and the technology evolution in the power supplies and ecosystem are estimated to generate lucrative opportunities for the market. The developing of the high-voltage DC power sources and the rise in the availability will further offer numerous growth opportunities for the market.
Restraints/Challenges Global Medical Power Supply Market
- Stringent Compliances
On the other hand, strict governing compliance are expected to obstruct market growth.
- Various Complications To Pose as a Challenge
Also, the security standards along with the complications in the adjusting to the device system interface are projected to challenge the medical power supply market in the forecast period of 2024-2031. Moreover, the technical limitations, such as the substantial functional noise, limited power optimization, device overheating and low detection quality of target biomolecules also pose as challenge.
This medical power supply market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the medical power supply market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post Covid-19 Impact on Medical Power Supply Market
The medical power supply market was largely industry impacted by the outbreak of COVID-19. Imposition of the lockdown and social distancing restrictions by the government in travel, public gatherings, business operations, and shelter-in-place orders to curb the COVID-19 pandemic outbreak, led to halt in various operations, reduced demand and supply chain disruptions, limiting the industry's expansion. Furthermore, consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets as the general economic situation of most people has been severely impacted by the outbreak.
However, with gradual decrease in the disease, the restrictions are likely to relax and the various operations will continue, which will help market to witness a slight increment post COVID-19.
Medical power supply Market Scope
The medical power supply market is segmented on the basis of converter type, architecture, application, manufacturing type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Converter Type
- AC-DC Power Supply
- DC-DC Power Supply
Architecture
- Enclosed Power Supplies
- Open Frame Power Supplies
- External Power Supplies
- U-Bracket Power Supplies
- Configurable Power Supplies
- Encapsulated Power Supplies
Application
- Diagnostic and Monitoring Equipment
- Home Medical Equipment
- Surgical Equipment
- Dental Equipment
Manufacturing Type
- Standard Power Supply
- Customized Power Supply
- CF Rating Power Supply
End User
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Long Term Care Centers
- Diagnostic Centers
- Rehabilitation Centers
- Home Care Setting
Medical Power Supply Market Regional Analysis
The medical power supply market is analyzed and market size insights and trends are provided by country, converter type, architecture, application, manufacturing type and end user as referenced above.
The countries covered in the medical power supply market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical power supply market because of the suitable repayment scenario. Furthermore, the rise in the adoption of new advanced techniques and the technologically advanced health care system within the region. Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the occurrence of major key players, increase in demand for home healthcare facilities mostly for elderly people and the increase in the investments in the research and development within the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Medical Power Supply Market Share
The medical power supply market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to medical power supply market.
Medical Power Supply Market Leaders Operating in the Market Are:
- Advanced Energy Industries Inc., (U.S.)
- Delta Electronics Inc., (Taiwan)
- TDK-Lambda Corporation (Japan)
- SL Power Electronics Corp (U.S.)
- XP Power (Singapore)
- Spellman High Voltage Electronics Corporation (U.S.)
- COSEL Co. Ltd., (Japan)
- FRIWO Gerätebau GmbH (Germany)
- Bel Fuse Inc., (U.S)
- MEAN WELL Enterprises Co., Ltd. (Taiwan)
- GlobTek Inc., (U.S.)
- Wall Industries Inc., (U.S.)
- SynQor Inc., (U.S.)
- Inventus Power (U.S.)
- Astrodyne TDI (U.S.)
Latest Developments in Medical Power Supply Market
- In December 2020, Advanced Energy Industries (US) introduced Excelsys CoolX3000 modular. It is basically a configurable power platform designed for a wide range of demanding medical and industrial applications. The Excelsys CoolX3000 modular, configurable power platform from Advanced Energy is designed for a variety of demanding medical and industrial applications. This 3000 W power supply platform offers industry-leading power density, flexibility, and digital communication and control to link with other applications, delivering on Industry 4.0's promise
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