The report “Medical Power Supply Market by Converter Type (AC-DC, DC-DC), Application (MRI, ECG, EEG, PET, CT Scan, Ultrasound, X-ray, RF Mammography, Surgical Equipment, Dental Equipment), Manufacturing Type (Enclosed, External, U Bracket) – Global Forecasts to 2027″, is projected to reach USD 1.9 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 6.5% from 2022 to 2027. 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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Medical power supply refers to the type of device used to provide power to medical equipment and devices. They are designed to meet the stringent safety and reliability requirements of the medical industry and are often used in operating rooms, diagnostic labs, and other medical facilities.
The global medical power supply market is anticipated to experience exponential growth in the coming years. This growth is driven by a variety of factors, including the increasing demand for medical equipment and devices, the rising demand for energy efficiency and cost effectiveness, and technological advancements in the field.
The growing demand for medical equipment and devices is the primary factor propelling the growth of the medical power supply market. With the advancements in medical technology and the increasing prevalence of medical conditions, the demand for medical equipment and devices is expected to continue to rise. This, in turn, is expected to drive the growth of the medical power supply market.
The rising demand for energy efficiency and cost effectiveness is another major factor driving the growth of the medical power supply market. As medical equipment and devices become increasingly sophisticated, the need for efficient and cost-effective power supply solutions becomes more pressing. This has led to the development of advanced medical power supply solutions that are energy efficient and cost-effective.
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Key Market Players
The medical power supply market is competitive in nature with several big and emerging players equally holding shares of the market. As of 2021, the key players operating in the global 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.
Delta Electronics:
Delta Electronics provides medical-grade power supplies that meet energy star level V requirements and draw less than 0.1 ma of earth leakage current. Due to technological advancements and excellent operations management, Delta has become an indispensable long-term strategic partner for many world-class manufacturers. The company has received accolades for its Switch Mode Power Supplies (SMPS), brushless DC fans, cooling systems, and miniaturized key component. The company focuses on inorganic strategies, such as acquisitions, to strengthen its offerings and global reach and sustain its presence in this market.
Advanced Energy Industries:
Advanced Energy is a global leader in power solutions. The company has adopted organic and inorganic growth strategies to strengthen its product portfolio and gain a competitive edge over the competitors. The company’s heavy investments in R&D activities have supported efforts to develop differentiated products and enhance existing ones.
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.
Recent Developments
- Advanced Energy Industries expanded its SL Power SLB series with the launch of a 300 W power supply.
- Wall Industries, Inc. introduced four DC/DC converters (DCSMU1, DCSMU2, DCMHP06, and DCMHPL20) ranging from 1 to 20 watts and two AC/DC power supplies (PSAMPS45 and PSAMPS65) at 45 and 65 watts
- XP Power launched compact medical desktop power supplies. This AQM AC/DC power supply is a space-saving fan-less solution for home healthcare and hospital applications
- Wall Industries, Inc. introduced five new variants to expand its PSSW family of open frame AC/DC supplies. The models include PSSW120, PSSW225, PSSW350, PSSW450, and PSSW550
- Advanced Energy Industries acquired SL Power Electronics Corporation, a provider of customized power solutions for medical and advanced industrial applications, from Steel Partners Holdings L.P. The acquisition expanded Advanced Energy’s medical power solution offerings through the addition of a complementary portfolio of products and its ability to meet the growing needs of industrial and medical customers
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