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The medical power supply market is projected to reach USD 1.8 billion by 2025 from USD 1.3 billion in 2020, at a CAGR of 6.9% during the forecast period. Growth of the market is mainly attributed to the technological advancements; growing public and private investments and funding are driving the global medical power supply s market. However, complex regulatory frameworks that delay the approval of new medical power supply s is expected to challenge market growth to a certain extent.

“In terms of converter type, AC-DC power supply segment to register significant growth during the forecast period.”
Based on the converter type, the medical power supply s market is segmented into AC-DC power supply, and DC-DC power supply. AC-DC power supply include include 200W and less, 201-500W, 501-1000W, 1,000-3,000W and 3000W and above Significant growth of the AC-DC power supply segment is attributed to the ongoing product approval of AC-DC power supplies, increasing agreement between PSUS vendors and medical device OEMs for the porcurement of medical power supply , and the increasing availability of these products in major markets. AC-DC power supply is used in MRI systems, CT scanners, X-ray monitors, and ECG monitors. Thus rising adoption of these devices have led to the growth of this segment.

“In terms application, diagnostic imaging systems segment to register significant growth during the forecast period.”
Based on the application, the medical power supply market is segmented into diagnostic imaging systems, patient monitoring equipment, home use and wearable medical equipment, implantable medical devices, dental equipment, surgical equipment, and other medical devices. The diagnostic imaging systems segment accounted for a larger share of in the market in 2019. Innovation and advancements in diagnostic applications have supported the demand for power supply units and increasing customer base for medical power supply for radiology devices are factors expected to drive the growth of this market segment in the coming years.

“Enclosed segment is expected to account for the largest share of the medical power supply market, by the architecture” `
On the basis of architecture, the medical power supply market has been segmented into enclosed, open frame, external, U-bracket, configurable, and encapsulated power supply. Enclosed power supplies come in single, triple, and quadruple-output forms and varying sizes, which are usually proportional to the supply’s power output. An enclosed power supply ensures minimal power loss in end-use medical equipment. The growth of this segment is attributed to the significant number of product launches for enclosed power supplies. For instance, In November 2019, Delta Electronics introduced a 24V 500W output model to the MEB series of enclosed medical power supplies for medical applications

“Asia Pacific market is expected to grow at the highest CAGR during the forecast period.”
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period majorly due to growth of diagnostic labs and strict regulations and standards for medical power supply in China, Japan, and India

A breakdown of the primary participants referred to for this report is provided below:

  • By Company Type: Tier 1–48%, Tier 2–36%, and Tier 3– 16%
  • By Designation: C-level–10%, Director-level–14%, and Others–76%
  • By Region: North America–40%, Europe–32%, Asia Pacific–20%, Latin America–5%, and the Middle East & Africa–3%

Some of the prominent players in the medical power supply market include Advanced Energy Industries (US), Delta Electronics (Taiwan), TDK-Lambda Corporation (Japan), SL Power Electronics (US), XP Power (Singapore), Spellman High Voltage Electronics Corporation (US), COSEL (Japan), FRIWO Ger?tebau (Germany), Bel Fuse (US), MEAN WELL Enterprises (Taiwan), GlobTek (US), Wall Industries (US), SynQor(US) Inventus Power (US), and Astrodyne TDI (US), among others.

Research Coverage
This report studies the medical power supply market based on converter type, application, architecture, manufacturing type and region. It also covers the factors affecting market growth, analyzes the various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).

Reasons To Buy the Report
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 s market
  • Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.