According to the global medical power supply market report by IMARC Group, the market reached a value of US$ 1.6 Billion in 2022, and it is projected to reach a value of US$ 2.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.83% during 2023-2028.
A medical power supply (MPS) refers to am equipment used for delivering current to medical devices. It includes enclosed, open frame, external, configurable, U-bracket, and encapsulated devices. It provides a stable and reliable source of power to medical devices, such as ultrasound machines, patient monitors, and surgical equipment. It also reduces electromagnetic interference and minimizes the risks of electric shocks and current leakages. As a result, it is widely used in diagnostic centers, hospitals, clinics, and research laboratories across the globe.
Medical Power Supply Market Trends and Drivers:
At present, the growing global population and increasing prevalence of chronic medical disorders represent one of the key factors positively influencing the market across the globe. In addition, the burgeoning healthcare industry and ongoing technological advancements are resulting in the development of more advanced and sophisticated medical devices that require specialized power supplies to meet their unique power requirements.
This, in confluence with the increasing adoption of smart and wireless medical devices equipped with sensors and advanced analytics capabilities, is creating a favorable market outlook. Apart from this, government and private investors are investing heavily in healthcare infrastructure.
They are also focusing on reducing the energy consumption and the carbon footprint of medical devices, which is catalyzing the demand for more energy efficient MPSs worldwide.
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| Medical Power Supply Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2022 | US$ 1.6 Billion |
| Market forecast in 2028 | US$ 2.3 Billion |
| Growth Rate | CAGR of 5.83% from 2023 to 2028 |
| Base year for estimation | 2022 |
| Historical data | 2017-2022 |
| Forecast period | 2023-2028 |
Global Medical Power Supply Market 2023-2028 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.
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 (2017-2022)
- Market Outlook (2023-2028)
- 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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