Medical Power Supply Market is Expected to Reach $1.9 billion | MarketsandMarkets.

Chicago, July 12, 2023 (GLOBE NEWSWIRE) -- The medical power supply industry is poised for significant growth and transformation in the near future. With the increasing demand for advanced medical devices, telemedicine, and healthcare infrastructure, the need for reliable and efficient power supply solutions is paramount. The industry is expected to witness innovations in power supply technologies, such as compact and lightweight designs, higher power density, and improved energy efficiency. Additionally, the integration of renewable energy sources and energy storage systems will provide sustainable and uninterrupted power supply for medical facilities. The growing emphasis on patient safety and regulatory compliance will drive the development of power supplies with enhanced safety features, such as surge protection, voltage regulation, and isolation capabilities. Moreover, the adoption of digitalization and smart technologies will enable remote monitoring, predictive maintenance, and real-time energy management in healthcare facilities. As the medical power supply industry evolves, it will play a crucial role in supporting the advancements in medical technology, improving patient care, and ensuring the reliability of critical medical equipment.

Medical Power Supply market in terms of revenue was estimated to be worth $1.5 billion in 2022 and is poised to reach $1.9 billion by 2027, growing at a CAGR of 6.5% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. The growth of the medical power supply market is majorly driven by growing product development and commercialization, increasing affordability, and the use of home healthcare devices. Portable/integrated instrument adoption and recent advancements in product design and architecture are supported by developments in adjacent industries, such as semiconductor chips and integrated circuits. Such devices have witnessed rapid installation due to their advantages—improved power factor correction, better thermal management, and reduced audible noise. The availability of funding and support to develop portable medical devices has also driven the overall research activity in this sector. These factors have favored the adoption of medical power solutions since the growth of this market is directly tied to instrument use.

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Medical Power Supply Market Scope:

Report Coverage	Details
Market Revenue in 2022	$1.5 billion
Estimated Value by 2027	$1.9 billion
Growth Rate	Poised to grow at a CAGR of 6.5%
Market Size Available for	2020–2027
Forecast Period	2022–2027
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Converter Type, Application, Architecture, Manufacturing Type, and Region
Geographies Covered	North America, Europe, Asia Pacific, Latin America, and Middle East and Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Emerging high-voltage DC power sources
Key Market Drivers	Growing adoption of home-use healthcare products

Medical Power Supply market major players covered in the report, such as:

• Advanced Energy Industries Inc (US)
• TDK Corporation (Japan)
• Delta Electronics Inc. (Taiwan)
• SL Power Electronics (US)
• XP Power (Singapore)
• Bel Fuse Inc. (US)
• COSEL Co. Ltd. (Japan)
• FRIWO Gerätebau GmbH (Germany)
• SynQor Inc. (US)
• GlobTek Inc. (US)
• MEAN WELL Enterprises Co. Ltd. (Taiwan)
• Spellman High Voltage Electronics Corporation (US)
• Astrodyne TDI (US)
• and Among Others

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This report has segmented the global Medical Power Supply market based on converter type, application, architecture, manufacturing type, and region.

Global Medical Power Supply Market, by Converter Type

• AC-DC Power Supply
• 200W and less
• 201-500W
• 501-1,000W
• 1,001-3,000W
• 3,001W and above
• DC-DC Power Supply
• 30W and less
• 31-60W
• 61W and above

Global Medical Power Supply Market, by Application

• Diagnostic Imaging Systems
• MRI Systems
• X-ray Systems
• CT Scanners
• Ultrasound Systems
• Mammography Systems
• PET Systems
• Other Diagnostic Imaging Systems
• Patient Monitoring Equipment
• ECG Monitors
• EEG Monitors
• MEG Monitors
• Multiparameter Monitors
• Other Patient Monitoring Equipment
• Surgical Equipment
• RF-based Ablation Systems
• Electric & Electroporation Ablation Systems
• Light & Laser-based Ablation Systems
• Aesthetic Laser Systems
• Ophthalmology Laser Devices
• Other Surgical Equipment
• Dental Equipment
• Home Use & Wearable Equipment
• Implantable Medical Devices
• Other Applications

Global Medical Power Supply Market, by Architecture

• Enclosed Power Supply
• Open Frame Power Supply
• External Power Supply
• U-Bracket Power Supply
• Encapsulated Power Supply
• Configurable Power supply

Global Medical Power Supply Market, by Manufacturing Type

• Standard Power Supply
• Customized Power Supply
• CF Rating Power Supply

Medical power supply Market, by region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

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The key stakeholders in the Medical Power Supply market include:

• Medical Device Manufacturers: Medical device manufacturers are significant stakeholders in the medical power supply market. They integrate power supply units into various medical devices and equipment, such as patient monitors, imaging systems, surgical instruments, and life support systems. These manufacturers work closely with power supply providers to ensure compatibility, reliability, and safety of the power supply solutions used in their products.
• Healthcare Facilities and Providers: Healthcare facilities, including hospitals, clinics, and ambulatory surgical centers, are major stakeholders in the medical power supply market. They rely on robust and uninterrupted power supply to operate critical medical equipment and provide quality patient care. Healthcare providers, such as doctors, nurses, and technicians, depend on reliable power supply for accurate diagnoses, monitoring patient vitals, performing surgeries, and delivering effective treatments.
• Power Supply Manufacturers and Suppliers: Power supply manufacturers and suppliers specialize in producing and distributing medical-grade power supplies tailored for healthcare applications. These companies design and manufacture power supply units that meet stringent industry standards, including safety, efficiency, and electromagnetic compatibility (EMC) requirements. They collaborate with medical device manufacturers and healthcare facilities to provide customized power supply solutions that cater to specific needs.
• Regulatory Authorities: Regulatory authorities play a crucial role in ensuring the safety and quality of medical power supply solutions. They establish standards, guidelines, and certifications that power supply manufacturers must adhere to. Regulatory bodies assess and approve medical power supply products for compliance with electrical safety and performance standards, ensuring that they meet the necessary requirements for use in healthcare settings.
• Research and Development Organizations: Research and development organizations contribute to the advancement of medical power supply technologies. They conduct research, innovate new power supply designs, and explore energy-efficient solutions. These organizations collaborate with industry stakeholders to develop cutting-edge power supply technologies that enhance performance, reliability, and safety in healthcare applications.
• Maintenance and Service Providers: Maintenance and service providers offer support for medical power supply systems. They ensure proper installation, maintenance, and troubleshooting of power supply units in healthcare facilities. These providers play a vital role in minimizing downtime, performing preventive maintenance, and resolving power-related issues promptly to maintain uninterrupted power supply for critical medical equipment.
• Regulatory Compliance and Testing Laboratories: Regulatory compliance and testing laboratories provide services to assess the safety and performance of medical power supply solutions. They conduct tests and certifications to validate compliance with industry standards, electrical safety, and electromagnetic compatibility. These laboratories assist power supply manufacturers in obtaining the necessary certifications and ensuring the reliability and safety of their products.

In summary, the medical power supply market involves key stakeholders such as medical device manufacturers, healthcare facilities and providers, power supply manufacturers and suppliers, regulatory authorities, research and development organizations, maintenance and service providers, and regulatory compliance and testing laboratories. The collaboration and coordination among these stakeholders are essential for delivering reliable, efficient, and safe power supply solutions in the healthcare sector.

Frequently Asked Questions (FAQs) of Medical Power Supply Market:

Q1. What is the total market value of Medical Power Supply Market report?

Q2. Which are the top companies holding the market share in Medical Power Supply Market?

Q3. Which are the largest regions for this Market?

Q4. What is the leading technology of Medical Power Supply Market?

Q5. What are the major drivers for this specific Market?

Q6. What are the upcoming key trends in the Medical Power Supply Market report?

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Recent Developments:

• In July 2022, Advanced Energy Industries expanded its SL Power SLB series with the launch of a 300 W power supply.
• In July 2022, Wall Industries, Inc. introduced four DC/DC converters (DCSMU1, DCSMU2, DCMHP06, and DCMHPL20) ranging from 1 to 20 watts and two AC/DC power supplies (PSAMPS45 and PSAMPS65) at 45 and 65 watts
• In June 2022, XP Power launched compact medical desktop power supplies. This AQM AC/DC power supply is a space-saving fan-less solution for home healthcare and hospital applications
• In April 2022, Wall Industries, Inc. introduced five new variants to expand its PSSW family of open frame AC/DC supplies. The models include PSSW120, PSSW225, PSSW350, PSSW450, and PSSW550
• In April 2022, Advanced Energy Industries acquired SL Power Electronics Corporation, a provider of customized power solutions for medical and advanced industrial applications, from Steel Partners Holdings L.P. The acquisition expanded Advanced Energy’s medical power solution offerings through the addition of a complementary portfolio of products and its ability to meet the growing needs of industrial and medical customers

Reasons to Buy the Report - The report provides insights on the following pointers:

The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.

This report provides insights on the following pointers:

• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the medical power supply market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the medical power supply market
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the medical power supply market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.

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