Medical devices and medical procedures will naturally demand a different range of electricity for functioning; most often demand a much lesser range as compared to usual applications of electricity. Clearly there can’t be a compromise in this and thus came into existence, medical power supply equipment market. The medical power supply machines basically collect incoming electric current and amplify or reduce it to the level required by medical devices in order to ensure their continuous functioning. Globally, advancement in medical device technology and growing usage of the portable devices in the healthcare industry is expected to remain the key growth driver for the medical power supply equipment during the period of study.
Market Growth Trends:
Among all the types, external power supply segment is growing at the highest CAGR with best growth potentials due to an upsurge in compact portable medical devices, which increasingly employ external medical power supply. External medical power supply devices are also estimated to rise in demand owing to sharp growth in the home healthcare market which involves smaller, portable and convenient medical devices.
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While the global market for medical power supply equipment is being slightly restrained by stringent regulatory and certification systems, and the economic downturn; the rise in high efficiency and digitally controlled power supply, opportunities in emerging economies, advancement in medical device technology and portable medical equipment, increasing aging population, and increasing incidences of lifestyle diseases are projected to boost the overall growth.
Geographical Brief:
Healthy medical and lifesciences industry establishment in the North America is aiding quality sales generation in this region. Improving healthcare infrastructure and advancing medical technologies are together causing North America to continue dominating the global medical power supply equipment market. Increased expenditure on better equipment, developed infrastructure and best class services are further reasons driving revenue in this region.
On the other hand, Europe follows at position 2 with APAC following at number 3. While this is the regional domination order for the market, APAC is noted to be the fastest growing region according to IndustryARC studies. Rapid developing medical facilities and infrastructure; risen funding for better healthcare services and growing medical tourisms in established regions like China and India are accounted to drive APAC at the fastest CAGR.
China, Taiwan, India, Japan, Korea and Singapore are noted to be the most prominent regions with respect to the coming future of the global medical power supply equipment market, owing to an upsurge in availability of technical support for healthcare. Moreover, prominent power supply manufacturers are opening their manufacturing facilities in the Asian subcontinent, especially in China. This is fueling the growth of this market in this region.
Segmentation Overview:
IndustryARC research analyst experts have segmented the medical power supply equipment market into various types for a better understanding of the industry aspects. These broad types are further classified into narrow types with in-depth discussion of all of them given in this report. Deciding factors being:
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By Technology: AC-DC Power Supply and DC-DC Power Supply
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By Type: External, Enclosed, Configurable and Encapsulated
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By Application: MRI, X-ray, CT, Ultrasound, EEG, ECG, Blood Pressure Monitor, Ventilator and Others
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By Geography: Europe, APAC, North America and Rest of the World
Vendors Outlook:
40+ players of the medical power supply equipment market are noted in this IndustryARC’s research report with few being:
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Friwo Gerätebau Gmbh
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Globtek Inc.
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Iccnexergy Inc.
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Mean Well
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Powerbox International AB
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SL Power Electronics Corporation
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