(MENAFN- IMARC Group)
IMARC Group, a leading market research company, has recently releases report titled“ Medical Power Supply Market Report by Type (Open Frame Power Supply, Enclosed Power Supply, Adapter Power Supply, Converters), Converter Type (AC-DC Power Supply, DC-DC Power Supply), Application (Diagnostic, Imaging and Monitoring Equipment, Surgical Equipment, Home Medical Equipment, and Others), and Region 2024-2032 “, Offers a comprehensive analysis of the industry, which comprises insights on the market.
How Big is the Medical Power Supply Market?
The global medical power supply market size reached US$ 1.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2032, exhibiting a growth rate (CAGR) of 5.3% during 2024-2032.
Industry Overview of Medical Power Supply
Medical power supply refers to the specialized electrical systems designed to provide a reliable and stable source of electricity for medical devices and equipment. It is crucial for the safe and effective operation of various medical instruments, which includes diagnostic machines like magnetic resonance imaging (MRI) scanners and treatment devices like surgical lasers. It is engineered to meet stringent safety standards, ensuring it delivers consistent voltage and current without fluctuations or interruptions as compared to standard power supplies. It minimizes the risk of electrical hazards, such as electrical shocks, that could jeopardize both patient safety and the performance of medical devices. It features advanced circuitry and high-quality components, built to adhere to international regulations for medical electrical equipment safety. It is capable of long-term operation without overheating or compromising energy efficiency. It is offered in various forms, including AC-DC alternating current – direct current (AC-DC) and direct current – direct current (DC-DC) converters, which depend on the requirements of the medical device they are intended to power.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/medical-power-supply-market/requestsample
What are the growth prospects and trends in the medical power supply industry?
Increasing awareness about various health issues and the importance of early diagnosis and treatment is driving the demand for medical devices in developed and developing countries. This growing health consciousness among the public naturally extends to a greater need for reliable power sources to operate these devices, thereby increasing demand for medical power supplies. This represents one of the primary factors strengthening the market growth around the world. Moreover, the rising investment by governments and private institutions in healthcare infrastructure, such as hospitals and clinics, particularly in emerging markets for a reliable power source, is favoring the growth of the market.
In addition, the growing need for versatile and portable power supply options that are capable of supporting devices used in various environments, including home settings, on account of the increasing adoption of telemedicine and remote patient monitoring (RPM) solutions is influencing the market positively. Apart from this, stringent regulations undertaken by governing agencies of numerous countries to encourage the adoption of safe, reliable, and efficient medical equipment, including power supplies, are contributing to the market growth.
Furthermore, the emerging trend of elective medical procedures, including cosmetic and non-essential surgeries, is catalyzing the usage of specialized medical equipment. These procedures often require high precision tools and devices that demand reliable and specialized power supplies. Besides this, the growing focus on reducing the energy consumption of medical devices to make them more cost effective and environment friendly is creating a positive outlook for the market.
Leading Companies Operating in the Global Medical Power Supply Industry: 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.) XP Power
Medical Power Supply Market Report Segmentation: The report has segmented the market into the following categories:
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
Regional Insight:
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
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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