According to the latest report by IMARC Group, titled “Global Medical Power Supply Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global medical power supply market reached a value of US$ 1.47 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.18 Billion by 2027, exhibiting at a CAGR of 6.30% during 2022-2027.
Medical power supply refers to the equipment that delivers electric current to medical devices and instruments. They are designed to comply with the internationally recognized safety standard IEC (60601-1-2:2015), which defines the safety criteria for any device connected to the main power supply to monitor, diagnose, or treat a patient. Some of the commonly used medical power supply systems include enclosed, open frame, external, U-bracket and encapsulated devices. They utilize reinforced insulation materials and AC-DC and DC-DC power supplies.
| Report Metric |
| Historical: 2016-2021 |
| Base Year: 2021 |
| Forecast Year: 2022-2027 |
Medical Power Supply Market Trends and Drivers:
Significant growth in the medical industry represents one of the key factors driving the market growth. Moreover, the increasing utilization of portable, smaller, and lightweight medical equipment is escalating the demand for medical power supply systems in hospitals and medical facilities to provide effective patient care.
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Besides this, due to the global outbreak of the coronavirus disease (COVID-19) pandemic, medical power supply systems are extensively being employed in hospitals to operate advanced equipment, such as ventilators, magnetic resonance imaging (MRI), oxygen concentrators, computed tomography (CT) scan, electrocardiograph (ECG) and multiparameter patient monitoring devices.
This, coupled with the growing preference for in-home patient care among the masses, is creating a favorable market outlook across the globe.
Note: 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 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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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The report has segmented the market on the basis of region, type, converter type and application
Breakup by Type:
- Open Frame Power Supply
- Enclosed Power Supply
- Adapter Power Supply
- Converters
Breakup by Converter Type:
- AC-DC Power Supply
- DC-DC Power Supply
Breakup by Application:
- Diagnostic, Imaging and Monitoring Equipment
- Surgical Equipment
- Home Medical Equipment
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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