Medical Power Supply Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Medical Power Supply Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global medical power supply market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.83% during 2023-2028.

Medical power supply refers to the equipment used for delivering current to medical devices. They are used with conductors and electronic components to provide isolation between the alternating current (AC) input, internal high voltage systems and the direct current (DC) output. Some of the commonly used medical power supply systems include enclosed, open frame, external, configurable, U-bracket and encapsulated devices. They utilize reinforced insulation materials and AC-DC and DC-DC power supplies. They are used in diagnostic, medical monitoring, home patient care, dental and surgical equipment. These devices reduce electromagnetic interference and minimize the risks of electric shocks and current leakages. As a result, they are widely used in diagnostic centers, hospitals, clinics and research laboratories.

Medical Power Supply Market Trends:
Significant growth in the medical industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, rising concerns regarding patient safety is providing a thrust to the market growth. With the increasing adoption of portable, smaller and lightweight medical equipment, healthcare organizations are widely utilizing medical power supply systems to provide effective care to the patient. Additionally, due to the onset of the coronavirus (Covid-19) pandemic, medical power supply systems are being extensively used to operate advanced equipment, such as ventilators, oxygen concentrators, magnetic resonance imaging (MRI), CT scan, electrocardiograph (ECG) and multiparameter patient monitoring devices. In line with this, the increasing preference for in-home patient care among the masses is also contributing to the market growth. Other factors, including the widespread adoption of data centers to maintain electronic health records (EHRs), along with extensive improvements in the healthcare infrastructure, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medical power supply market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global medical power supply market in 2022?
2. What is the expected growth rate of the global medical power supply market during 2023-2028?
3. What are the key factors driving the global medical power supply market?
4. What has been the impact of COVID-19 on the global medical power supply market?
5. What is the breakup of the global medical power supply market based on the type?
6. What is the breakup of the global medical power supply market based on the converter type?
7. What is the breakup of the global medical power supply market based on the application?
8. What are the key regions in the global medical power supply market?
9. Who are the key players/companies in the global medical power supply market?