The global medical power supply devices market is estimated to be valued at $1260 million by the end of 2016 and it is estimated to expand at a CAGR of 4.5% from 2016 to 2022, to account for $1610 million by 2022. The global medical power supply devices market is being driven by factors such as advanced technology of diagnostic devices and systems with increasing rates of lasting diseases increase in healthcare spending, and increasing demand for moveable and homecare devices across the world. Also, the regular development of advanced technologies is flooring the way for innovative equipment with better features, which is expected to positively impact the growth of the market for medical power supply devices in the world. Though, factors such as high pricing pressure, product recall if some default or technology change, and the latest multi-functional equipment are expected to limit the growth of the market in the near future.
The global medical power supply devices market is segmented on the basis of application, product type, technology, and end user. Market by technology is classified into AC-DC and DC-DC power supply. By type, market is segmented into open frame, external, enclosed and configurable the medical power supply application market is segmented into medical monitoring equipment, diagnostic equipment, dental equipment, home patient care equipment, and surgical equipment. On the basis of the end user, the medical power supply devices market is segmented in hospitals, clinics, ambulatory surgical centers, and rehabilitation centers. Among these segments, the medical application segment has been projected for 4-5% share in terms of revenue of the global AC-DC and DC-DC power supply market in next few years. The home care settings sector is expected to increase at the highest growth rate because of high demand in home care and treatment. Rising income in the developing countries is also a key factor for the growth of home treatment segment.
On the basis of geography, the global medical power supply devices market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Row. Geographically, North America has the largest share of the global medical power supply devices/equipment market, mainly owing to easy acceptance of technological developments and wide technical applications of medical power supply devices in the region. Growing attractiveness for powered devices in healthcare area, due to their user-friendly environment and high effectiveness in medical processes, growth in the geriatric population and enhancement of activities in healthcare is pushing the growth of global medical power supply market. Along with these, industrial developments and support from governments for the usage of medical devices have also helped in growing the market.
Key players in the medical power supply devices market, include Astrodyne Corporation, CUI, Inc., Delta Electronics, Inc., Emerson Network Power, Inc. Globtek Inc., Iccnexergy Inc., Powerbox International AB, SL Power Electronics Corporation (Subsidiary Of SL Industries, Inc.), Synqor Inc., TDK-Lambda Corporation and XP Power. These are introducing new products and continuous research has been carried that would be able to satisfy the current and future market demands. In In August 2015, SL Power Electronics introduced a new addition to its portfolio of medical-grade external power supplies, the ME40 Series. The new 40-watt ac/dc external power supply is exactly designed to see the sole power requirements of home healthcare devices, such as respiratory devices and patient-monitoring equipment that require a high level of EMC, EMI and AC input performance. The medical power supply device companies are focusing on high research for developing efficient, smaller, and reliable medical power supply equipment that could be provided to the customer at a viable price with effective work.