According to research report the report Medical Power Supply Market is expected to reach USD 1,218.6 Million by 2022 from USD 885.3 Million in 2017, at a CAGR of 6.6% from 2017 to 2022.
Factors such as growth in funding and infrastructure development, advancements in medical power supply products, and rising trend of home healthcare are driving the growth of the global medical power supply market.
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Based on the current type, the medical power supply market is segmented into AC-DC power supply and DC-DC power supply. The AC-DC power supply segment is expected to account for the highest CAGR during the forecast period. The advantages of AC-DC over DC-DC power supply, such as low energy consumption, low risk of current leakage, and greater efficiency are supporting the growth of the AC-DC power supply market.
The medical power supply market is segmented into power ranges of 200W and below, 201W–1000W, 1001W–3000W, and 3001W and above. 200W and below power supplies is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment can be primarily attributed due to benefits such as reduced power control system size, weight, and cost; compare to other power ranges which also makes the consumption of electricity more efficient.
Based on construction, the external power supplies segment is expected to account for the highest CAGR during the forecast period. The high growth rate of this segment can primarily be attributed due to its wide applications in high power medical equipment’s as well as in home medical equipment’s and due to its other factors including high average efficiency and minimum load power consumption
Based on application, the medical power supply market is segmented into diagnostic & monitoring equipment, home medical equipment, surgical equipment and dental equipment. The home medical equipment segment is expected to grow at the highest CAGR during the forecast period. The increasing adoption of portable devices due to their ease of use and cost-efficiency are some of the factors expected to drive the growth of this segment during the forecast period.
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Asia possesses lucrative growth potential for the medical power supply market during the forecast period. Rising investment in healthcare, along with the growing purchase and installation of a wide range of powered medical equipment, is driving market growth in Asia.