Pune India, Feb. 01, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the medical power supply devices market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the medical power supply devices market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as manufacturing type, convertor type, end-user, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global medical power supply devices market are TDK-Lambda Corporation, CUI Inc., SynQor Inc., Wall Industrues Inc., XP Power, FRIWO Geratebau GmbH, Advanced Energy Industries Inc., Delta Electronics Co. Ltd., Cosel Co. Ltd., MEAN WELL Enterprises Co. Ltd., SL Power Electronics Corp., Inventus Power among others. To achieve a substantial market share in the worldwide medical power supply devices market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Medical power supplies are included in larger devices or equipment. They are separate and self-contained devices that deliver current to medical devices. They provide isolation between alternating current input, internal high voltage systems, and direct current output by incorporating conductors and electronic components. During an emergency, hospitals need a medical power supply as a backup power supply, since they have complicated medical equipment that is dependent on continuous electricity, so these devices are used primarily to provide uninterrupted electrical power during emergencies or other circumstances when the normal power supply may be disrupted. Furthermore, it is expected that the market will benefit from an increase in research expenditure on energy-efficient power supplies as well as technological advances in the power supplies and ecosystem. A number of growth opportunities will also be available for the market as high-voltage DC power sources develop and become more available. Furthermore, many medical power supply device manufacturers focus on producing smaller, efficient, and reliable medical power supply equipment, which are to be offered at a competitive price. The global market for medical power medical supply devices is expected to grow over the forecast period as a result.
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Scope of Medical Power Supply Devices Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Manufacturing Type, Convertor Type, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | TDK-Lambda Corporation, CUI Inc., SynQor Inc., Wall Industrues Inc., XP Power, FRIWO Geratebau GmbH, Advanced Energy Industries Inc., Delta Electronics Co. Ltd., Cosel Co. Ltd., MEAN WELL Enterprises Co. Ltd., SL Power Electronics Corp., Inventus Power among others |
Segmentation Analysis
Standard is expected to be the fastest-growing segment in 2022.
The manufacturing type segment includes CF rating, customized and standard. The standard segment is expected to witness the highest growth rate during the forecast period. It is the standard power supply that has the largest share of the overall market by manufacturing type. Standard power supplies are in high demand due to their optimal design and a wide range of power outputs (WATT). New power supply vendors are finding it increasingly easy to outsource power supply procurement needs, creating a favorable environment in this market.
AC-DC is expected to be the fastest-growing segment in 2022.
The convertor type segment includes DC-DC power supply and AC-DC power supply. The AC-DC segment is expected to witness the highest growth rate during the forecast period. Products in the AC-DC power supply market are further divided into 200W and less than 200W, 201-500W, 501-1000W, and 3000W and above. Over the forecast period, the 201-500W power range supplies are expected to grow rapidly. The growing focus on minimizing power consumption in medical equipment is the key factor driving this segment's growth.
Hospitals are expected to be the fastest-growing segment in 2022.
The end-user segment includes home care setting, clinics, ambulatory surgical centers, rehabilitation centers, diagnostics centers, hospitals and others. The hospital segment is expected to witness the highest growth rate during the forecast period. During times of power outages, these devices provide continuous electric power to the facility or building where they are installed when the normal power supply is disrupted. It also maintains all necessary equipment used by patients and physicians in cases of emergency that cannot be interrupted without causing danger, such as the loss of lives.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the medical power supply devices market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. As a result of its highly superior healthcare system and the increased use of advanced techniques, North America holds the largest share. There will be an increase in regional investments in research and development, as well as an increase in the demand for home healthcare. Due to recent developments in healthcare, multiple public institutions across the region are expected to enhance their laboratory capabilities.
Country Analysis
- Germany
Germany's medical power supply devices market size was valued at USD 0.111 billion in 2022 and is expected to reach USD 0.19 billion by 2030, at a CAGR of 7.6% from 2023 to 2030.
Medical devices are imported and exported in large numbers by Germany. The country has one of the largest medical device industries in Europe, making high-quality medical equipment available to the public.
- China
China’s medical power supply devices market size was valued at USD 0.116 billion in 2022 and is expected to reach USD 0.21 billion by 2030, at a CAGR of 7.9% from 2023 to 2030.
An increase in demand for home healthcare facilities, mainly for elderly people, and more investment in research and development within the country have led to the growth of country's market.
- India
India's medical power supply devices market size was valued at USD 0.08 billion in 2022 and is expected to reach USD 0.14 billion by 2030, at a CAGR of 7.8% from 2023 to 2030.
A major factor in advancing the diagnostics and monitoring devices market is the advancement of technology. The aging population, as well as the emergence of chronic diseases such as heart failure, indicate that the number of patients is also growing, which is boosting the growth of the medical power supply market.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increase due to the rising cases of chronic diseases and technological advancements.
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