CHICAGO , Sept. 15, 2022 /PRNewswire/ -- Medical Power Supply Market is projected to grow from USD 1.5 billion in 2022 to USD 1.9 billion by 2027, at a CAGR of 6.5% from 2022 to 2027, according to a new report by MarketsandMarkets™. Growing adoption of home-used products, technological advancements & new product launches, increased research spending on energy-efficient power supplies coupled with rising number of PSUs suppliers are the key factors driving the market in near future.
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AC-DC power supplies segment to register significant growth rate over the forecast period of 2022-2027
Based on the converter type, the global medical power supply market is segmented into AC-DC and DC-DC power supplies. The AC-DC power supplies segment is anticipated to register a highest growth rate over the forecast period. The advantages of AC-DC over DC-DC power supply, such as low energy consumption, low risk of current leakage, and greater efficiency, support its market growth.
Enclosed power supply segment accounted for the largest share of the medical power supply market, by architecture market in 2021
The enclosed power supply segment dominates the market due to the launch of several advanced enclosed power supplies. Enclosed power supplies include DC-AC inverters and DC-DC converters, used in military, medical, aerospace, semiconductor, and other industries. Availability of enclosed solutions for vast power and voltage spectrum to drive Growth in this market.
Patient monitoring equipment is the largest application of the medical power supply market
In 2021, the patient monitoring equipment segment accounted for the largest share of the medical power supply market. This segment is further classified into ECG monitors, multiparameter monitors, EEG monitors, MEG monitors, and other patient monitoring equipment. Major share of the application segment are attributed to the growing presence of regional players in the medical power supply industry to cater to the demand for medical-grade power supplies for patient monitoring systems after the COVID-19 outbreak.
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Asia Pacific to register major growth in the market during the forecast period
Asia Pacific medical power supply market is anticipated to register highest growth over the forecast period of 2022 to 2027. Major growth of the market is attributed to the growing installation of diagnostic imaging equipment, rapidly expanding urban population, significant investments in infrastructure expansion, and a strong industrial manufacturing base creating more opportunities for market players.
As of 2021, prominent players in the medical power supply market are 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), and Astrodyne TDI (US), among others.
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Browse Adjacent Market: Medical Devices Market Research Reports & Consulting
Medical Supplies Market by Type (Diagnostic supplies, Dialysis Consumables, Disinfectants, Catheters, Radiology Consumables), Application (Urology, Cardiology, Radiology, IVD), End-User (Hospitals, Clinics & Physician Offices) - Global Forecast to 2027
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