The Global Medical Power Supply Devices Market, By Product Type (Standard Medical Power Supply Device and Configurable Power Supply Devices), By Function (AC-DC Power Supply Devices and DC-DC Converters), By End User (Hospitals, Ambulatory Surgical Centers, Clinics, Long term Care Centers, Rehabilitation Centers, Diagnostic Centers and Home Care Settings) and by Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 2015.3 million by 2027, exhibiting a CAGR of 4.6% during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.

Overview

Medical power supply devices are special equipment used in a variety of medical applications such as dental equipment, robotic surgical devices, MIR, X-ray, CT scan, patient monitor, blood analyzers, and DNA equipment. With frequently changing safety standards for medical equipment, it has become extremely crucial for healthcare institutions to select specific medical power supply devices. Many medical power supply device manufacturers are focused on manufacturing smaller, efficient, and reliable medical power supply equipment, which are to be offered at a competitive price. Furthermore, for OEMs, EMC (electromagnetic compatibility) compliance with efficient performance is a major challenge.

The global medical power supply devices market was valued US$ 1408.5 Mn in 2019 and expected to grow at a CAGR of 4.5% over the forecasted period 2019-27.

Market Driver

Increasing incidences of chronic diseases combined with rising proliferation of diagnostic equipment and systems are expected to boost the global medical power supply devise market growth over the forecast period

Rising incidences of chronic diseases and conditions such as stroke, obesity, cancer, heart diseases, diabetes, and arthritis are boosting the adoption of diagnostic equipment & system and monitor and display devices in hospitals and diagnostic centers. Furthermore, the demand for efficient power supplies in electrocardiogram (ECG) & dialysis equipment has increased in the recent past. Patients suffering from chronic diseases, especially in developed regions such as North America are progressively adopting Type CF (Cardiac Floating) equipment wherein the applied part is in direct conductive contact with the patient’s heart. According to the Centers for Disease Control and Prevention (CDC), in 2012, around half of the total number of adults (around 117 million) in the U.S. suffered from one or more chronic health conditions such as heart diseases, stroke, cancers, type 2 diabetes, obesity, and arthritis. Hence, these factors are expected to support the global medical power supply devices market growth over the forecast period.

Market Opportunity

Advancements in technology in healthcare sector are expected to provide excellent business opportunities

Smart medical devices embedded in the furniture and portable medical equipment for home care applications are expected to boost market growth. Advancements in technology in the healthcare industry such as mobile robots for logistic applications in healthcare facilities, brain control interface (BCI), automated mobile wheelchairs, automated hospital beds, and outpatient robotic surgeries are expected to create major demand for reliable, safe, and high-quality power supply device. This, in turn, is expected to create lucrative revenue opportunities for medical power supply device manufacturers over the forecast period.

Market Restraint

Pricing pressure on OEMs is expected to hinder the global medical power supply devices market growth over the forecast period

Increased healthcare costs and growing financial burdens have led to patients becoming more and more value-conscious. This, in turn, has led to a decline in the high-cost quality equipment purchasing capabilities of healthcare institutes such as hospitals and clinics. As a result of this, the demand for cost-effective medical power supply devices is increasing from medical equipment manufacturers, particularly in emerging regions such as Asia Pacific and Latin America. Thus, in order to retail market share, the majority of OEMs are reducing the price of their power supply devices. Moreover, increasing competition in the market is expected to continue this trend in the near future. This is also reducing overall profit margins for medical power supply device manufacturers. Therefore, pricing pressure manufacturers is expected to hinder the global medical power supply devices market growth over the forecast period.

Market Trends

  1. North America Trends

Major power supply device manufacturers are emphasizing on improving energy efficiency in standby mode

Major power supply device manufactures are focused on enhancing the energy efficiency of medical devices in standby mode. In 2014, experts from the U.S. Department of Energy estimated that 5–10% of total power is consumed by electric equipment in the standby mode in the U.S. The government has set regulations named Level IV, which sets a threshold for power consumption to be not more than 0.5 W. In accordance with these regulations, power supply manufacturers are focusing on developing medical power supplies capable of consuming least or no power while in standby mode. For instance, CUI Inc. offers power supply with 40, 60, and 100 W output power, with consumption being less than 0.5 watts in no-load mode.

Leveraging technical expertise of ecosystem players to reduce time-to-market

Key medical power supply device manufacturers such as SL Power Electronics are focused on providing technical support to medical device/equipment manufacturers, in order to address power supply integration issues and in turn reduce time-to-market.

  1. Europe Trends

Growing focus on strengthening distribution channel network

Major OEMs in Europe's medical power supply devices market are partnering with leading distributors, in order to increase the availability of their devices. For instance, in July 2015, CUI Inc. partnered with Ismosys, a U.K.-based distributor, and ActiveRep GmbH, a Germany-based company. According to the agreement, ActiveRep GmbH would provide technical sales and support services for the CUI product line in the Central European Market. Also, both companies would help CUI Inc. increases its presence in the European market.

Forward integrating to manufacture medical power supply accessories

NORATEL provides medical isolation transformers related to various supply voltage zones in Europe. The product is designed to be used along with the power supply of medical electrical systems. These transformers are designed to sustain major interferences of supply voltage, which prevents the device from shutting down in case of power damage.

Regulations

Middle East & Africa

  • SFDA (Saudi Food and Drug Authority) controls medical device regulations in the Kingdom of Saudi Arabia (KSA)
  • In KSA, SFDA (Saudi Food and Drug Authority) ensures the safety of food; the safety, quality, and efficacy of drugs; and the safety and effectiveness of medical devices. Medical devices supplied to KSA must meet the regulatory standards of one of the GHTF (Global Harmonization Task Force) Member States i.e. EU, U.S., Canada, Australia, and Japan.
  • UAE:
  • Medical Devices in the UAE are regulated by the UAE Ministry of Health. According to the Ministry’s guidelines, medical device manufacturers must register with the UAE Ministry of Health in order to market their products in the UAE. Companies wishing to export products into the UAE must do so via a local representative or distributor, who has a licensed medical healthcare facility. Medical devices are categorized under Class I, Class II a, Class II b, Class III, and active implantable devices. The appointed local representative or distributor must submit a medical device registration application form to the Ministry’s Drug Control Department. If the application is approved, a registration number is provided, which remains valid for five years.

Competitive Section

Key players operating in the global medical power supply devices market are Astrodyne TDI, SL Power Electronics, Powerbox International AB, TDK Lambda Corporation, Artesyn Embedded Technologies (Emerson Network Power), GlobTek, Inc., ICCNexergy, FRIWO Geratebau GmbH, Excelsys Technology, and Delta Electronics, Inc.

Key Developments

  1. Key players in the market are focused on product launches, in order to enhance the market presence. For instance, in February 2018, TDK Lambda Corporation launched its several latest power solutions including CUS150M, CUS30M, and 60M, etc.
  2. Major companies in the market are focused on mergers and acquisitions, in order to gain competitive edge in the market. For instance, in March 2020, Powerbox International AB acquired assets of Power Technics BV, which includes lab equipment, product IP, and warehousing.

Segments

Market Taxonomy:

  1. By Product Type
  • Standard Medical Power Supply Device
  • Open Frame
  • Enclosed
  • Encapsulated
  • External
  • Configurable Power Supply Devices
  • Open Frame
  • Enclosed
  • Encapsulated
  • External
  1. By Function
  • AC-DC Power Supply Devices
  • DC-DC Converters
  1. By End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Long term Care Centers
  • Rehabilitation Centers
  • Diagnostic Centers
  • Home Care Settings
  1. By Regions
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa
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