The Global Medical Power Supply Devices Market, By Product Type (Standard Medical Power Supply Devices 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 2030”, is expected to be valued at US$ 3,500 million by 2030, exhibiting a CAGR of 7.2% during the forecast period (2022-2030), as highlighted in a report published by Coherent Market Insights.
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 monitors, 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, more efficient, and more 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 is estimated to account for US$ 1,400 Mn in 2021 and is expected to grow at a CAGR of 7.2 % over the forecasted period 2022-2030.
Key Developments
- In July 2022, Advanced Energy Industries, Inc., a leader in extremely engineered, products and solutions provider, launched 300W Power Supply to its existing SLB series with the aim to expand its Low Power open Frame Products. SLB300 is a certified single-output power supply for medical and industrial appliances.
- Major companies in the market are focused on mergers and acquisitions, in order to gain a 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.
Medical Power Supply Devices Market- Impact of Coronavirus (Covid-19) Pandemic:
Many industries have been impacted during covid-19 pandemic among which the medical power supply market was also largely impacted. Furthermore, Government declared temporarily suspension of manufacturing industries with the aim to decrease the spread of Covid-19 virus. This temporary suspension and social distancing led a halt in various operations. Furthermore, consumer demand also decreased due to which revenue of medical power market also got impacted.However, with the passing years, the restrictions are likely to get relaxed and the various operations will continue.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/medical-power-supply-devices-market-3678
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Key Trends and Analysis of the Global Medical Power Supply Devices Market:
- Market players are focusing on product launch to in order to expand it’s product portfolio. For instance, in May 2022, LYMA Life Ltd. launched at-home and medical-grade laser-based hair removal device in the U.S.
- 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.
- 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.
- Key players operating in the global medical power supply devices market are Astrodyne TDI, Advanced Energy Industries, Inc, SL Power Electronics, Powerbox International AB, TDK Lambda Corporation, Artesyn Embedded Technologies
