According to the latest report by IMARC Group, titled "Medical Power Supply Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global medical power supply market reached a value of US$ 1.47 Billion in 2021. The medical power supply includes a power supply device that is generally used for providing electric power to medical instruments and equipment. It is commonly equipped with electronic components and conductors that add functionality to medical devices for conducting surgical procedures and patient monitoring. As a result, it is extensively deployed across research laboratories, clinics, healthcare settings and diagnostic centers for minimizing the risks of current leakages and electric shocks while reducing electromagnetic interference. Some of the widely utilized devices include configurable, external, U-bracket and encapsulated devices.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Medical Power Supply Market Trends:
The global market is primarily driven by the augmenting demand for uninterrupted power supply across the healthcare industry. Along with this, continual technological advancements and the deployment of automation across the sector are creating a positive market outlook. Moreover, the escalating need for providing adequate care to patients and the rising concerns regarding patient safety are providing a boost to the market. Additionally, extensive research and development activities conducted in the field of medical science are offering numerous growth opportunities in the market. Furthermore, numerous initiatives undertaken by the government of multiple countries for providing easy access to medical treatments in a cost-effective manner across rural and geographically extended locations are favorably impacting the market. Other factors, including the growing geriatric population, the increasing healthcare expenditure, and continuous improvements in the healthcare infrastructure, are also positively influencing the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.18 Billion by 2027, exhibiting a CAGR of 6.30% during 2022-2027.
- On the basis of the type, the market has been segmented into open frame power supply, enclosed power supply, adapter power supply, and converters.
- Based on the converter type, the market has been bifurcated into AC-DC and DC-DC power supplies.
- On the basis of the application, the market has been segmented into diagnostic, imaging and monitoring equipment, surgical equipment, home medical equipment, and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Advanced Energy Industries Inc., Cosel Co. Ltd., CUI Inc., Delta Electronics Inc., FRIWO Gerätebau GmbH, GlobTek Inc., MEAN WELL Enterprises Co. Ltd., SL Power Electronics Corp., SynQor Inc., TDK-Lambda Corporation (TDK Corporation), Wall Industries Inc. (Continental Resources Inc.) and XP Power.
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