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Medical Power supply Market
The global medical power supply market is fueled by aging populations, increased home healthcare adoption & robust investments in advanced medical technologies.
AUSTIN, TX, UNITED STATES, January 22, 2025 /EINPresswire / -- According to Research by SNS Insider, The Medical Power Supply Market size was estimated at USD 1.64 billion in 2023 and is expected to reach USD 2.96 billion by 2032 at a CAGR of 6.80% during the forecast period of 2024-2032.
Growth Drivers of the Medical Power Supply Market, Demographic Shifts, Technological Advancements, and Energy Efficiency
The Medical Power Supply Market is undergoing swift expansion, driven by various significant trends. The worldwide growth of healthcare, fueled by an older population and rising chronic illnesses, necessitates more sophisticated medical devices such as diagnostic imaging tools and ventilators, all of which need dependable power sources. The progress of technology in medical devices further drives the need for high-performance power systems that comply with strict safety regulations. Moreover, increasing energy expenses are motivating hospitals to implement energy-efficient strategies, aiding in market expansion. The increase in home healthcare, fueled by patients' desires for care at home, heightens the demand for dependable and portable power sources. Investments in healthcare facilities, especially in neglected areas, are also increasing the need for effective and dependable medical power solutions.
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Key Players in Medical Power Supply Market
.Advanced Energy Industries Inc
.Delta Electronics Inc
.TDK-Lambda Corporation
.SL Power Electronics Corp
.XP Power
.Spellman High Voltage Electronics Corporation
.COSEL Co. Ltd.
.FRIWO Gerätebau GmbH
.Bel Fuse Inc.
.MEAN WELL Enterprises Co., Ltd.
.GlobTek Inc.
.Wall Industries Inc.
.SynQor Inc.
.Inventus Power
.Astrodyne TDI
Segmentation Analysis
By Medical Equipment Type
In 2023, the Patient Monitoring Equipment segment dominated the medical power supply market, representing a substantial part of the total market share. This control is fueled by the rising occurrence of chronic illnesses, an elderly demographic, and the escalating need for remote healthcare options. Devices that consistently track vital signs such as heart rate, blood pressure, and oxygen levels are crucial in hospitals and home healthcare environments, necessitating dependable and effective power sources for seamless functioning. As healthcare professionals implement increasingly sophisticated monitoring systems, the need for superior, energy-efficient power solutions keeps growing.
The Imaging Equipment segment is the fastest expansion in the medical power supply market, propelled by the rising demand for diagnostic methods and progress in imaging technologies like MRI, CT scans, and ultrasound. These technologies require high-efficiency power supplies to enable their energy-consuming operations while complying with rigorous safety regulations. The increasing use of medical imaging technologies, especially in developed and emerging markets, is anticipated to drive significant growth in this market during the forecasted timeframe.
By Form Factor
In 2023, the External Power Supplies segment dominated the medical power supply market due to their extensive application in numerous medical devices. These power supplies are very versatile, simple to swap out, and maintainable, making them a favored choice for different uses, ranging from patient monitoring systems to mobile diagnostic devices. Their capacity to scale and deliver constant, reliable power makes them crucial in high-demand settings such as hospitals and clinics, guaranteeing that vital medical devices function without disruption.
The Plug-In Power Supplies segment is experiencing the fastest growth throughout the forecast period, fueled by the rising need for portable medical devices and equipment that are user-friendly in various healthcare environments. As home healthcare expands, there has been an increase in the demand for compact, lightweight, and easy-to-use plug-in power supplies. These power solutions are commonly found in portable and home healthcare equipment like blood glucose monitors, CPAP machines, and wearable health trackers, rendering them an essential element in fulfilling the increasing demands of home healthcare.
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Medical Power Supply Market Segmentation
By Medical Equipment Type
.Imaging Equipment
.Patient Monitoring Equipment
.Surgical Devices
.Therapeutic Equipment
.Dental Equipment
By Form Factor
.External
.Embedded
.Open Frame
.Plug-In
By Application
.Hospital
.Clinic
.Ambulatory Surgical Center
.Home Healthcare
.Emergency Services
By Voltage Rating
.Low Voltage (Less than 30V)
.Medium Voltage (30V-100V)
.High Voltage (100V and above)
Regional Overview
North America dominated the medical power supply market in 2023 owing to the presence of key medical device manufacturers and high demand for advanced medical technologies. U.S. healthcare services that rely on advanced technologies, from imaging machines to patient monitoring devices and therapeutic instruments, continue to drive demand for reliable power. Furthermore, the rise of home healthcare solutions has expanded the demand for portable medical devices and their corresponding power needs. Strict regulatory frameworks and healthcare standards, such as IEC 60601-1, also encourage the adoption of high-quality power solutions in North America.
The Asia-Pacific region is set to become the quickest developing area, as nations such as China, India, and Japan swiftly enhance their healthcare systems and technological advancements. The increase in chronic illnesses, an aging demographic, and major investments in healthcare technology position the Asia-Pacific as a key area for market growth. Additionally, the expanding middle class in the region and the rising need for affordable healthcare are propelling the use of portable medical devices and energy-efficient power supply systems.
Recent Development
.In November 2024, Murata Manufacturing launched the PQC600, a 600W open-frame AC to DC power supply, designed to serve both medical and industrial sectors. This new product enhances their portfolio of high-performance power solutions.
.In September 2024, Advanced Energy unveiled the world's first off-the-shelf convection-cooled CF-rated standard power supplies. This innovative power supply family meets stringent medical equipment safety standards, eliminating the need for custom designs.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Medical Power Supply Market by Medical Equipment Type
8. Medical Power Supply Market by Form Factor
9. Medical Power Supply Market by Application
10. Medical Power Supply Market by Voltage Rating
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
Browse More Insights:
Medical Imaging Devices Market Size, Share & Growth Report
Patient Monitoring Devices Market Size, Share & Growth Report
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