Medical Power Supply Devices Market
Global Market Study on Medical Power Supply Devices: Technological Advancements Expected to Boost Revenue Growth During 2017 - 2022
- Report code : PMRREP3514 |
- Industry : Electronics and Smart Devices |
- Published On : Apr-2018 |
- Pages : 175 Pages |
- Format :
Power supplies are electronic or electrical equipment, which change the form of a source of power into a desired form to ensure compatibility with equipment being used. Medical power supply devices are used in a wide range of medical applications such as MRI, X-ray, CT and PET scanners, patient monitors, blood analyzers, DNA equipment, dental equipment, and robotic surgical devices. Specification and selection of power supplies for medical applications by healthcare institutions is a task that needs to be executed effectively; especially, due to frequent changes in the safety and environmental standards for medical equipment.
Rise in geriatric population is leading to increased demand for medical devices
Currently, rise in geriatric population across the globe is leading to rise in demand for pharmaceutical, biotechnology, and medical device products. Geriatric population requires more assistance and medical care and, in-turn, a wide range of medical devices ranging from simple disposable supplies, including face masks and syringes, to patient-treatment and monitoring instruments. Global aging population is increasing rapidly. By 2050, the geriatric population is expected to account for 22% of the overall global population. In Europe, the number of people aged 85 years and older is projected to rise from 14 million to 19 million by 2020, and increase to 40 million by 2050. In order to cater to growing demand, design engineers are introducing responsive, non-invasive, and user-friendly medical devices, especially focused on the older generation.
There is a proliferation of diagnostic equipment and systems, with rising incidences of chronic diseases
Increasing prevalence of chronic disease and conditions such as heart diseases, stroke, cancers, diabetes, obesity, and arthritis, is driving adoption of diagnostic equipment and systems and monitor and display devices in hospitals and diagnostic centers, among others. Rise in demand for efficient power supplies in ECG (Electrocardiogram) and dialysis equipment has been witnessed globally in recent years. Moreover, patients suffering from chronic diseases, especially in developed regions, 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 Center for Disease Control and Prevention (CDC), in 2012, around half of the total number of adults (approximately 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.
Global Medical Power Supply Devices Market Analysis, by Function
AC-DC power supply devices segment has been estimated to account for nearly 64 percent share in the global medical power supply devices market value in 2017, and is expected to retain its dominance in the market throughout the forecast period. Revenue contribution of AC-DC power supply segment to the global medical power supply devices market is expected to increase from nearly 64 percent in 2017 to 66.5% by 2022, reflecting an increase of in market share of such devices. Revenue contribution of DC-DC converters power supply segment to the global medical power supply devices market is expected to increase at a CAGR of 3.8% over the forecast period. DC-DC converters power supply segment is expected to lose market share over the forecast period. It has been witnessed that, globally, the private and public healthcare expenditure is rising with the increasing population and prevalence of various diseases. Also, changing lifestyle is responsible for the escalating demand for advanced healthcare equipment, which in turn is driving the demand for AC-DC medical power supplies globally.
Power supply devices are discrete and stand-alone devices. At times, they are integrated into larger devices/equipment. Examples of applications where power supply devices are integrated into electronic devices include desktop computers, washing machines, refrigerators, and other consumer electronic devices. Some of the common types of power supply devices include DC power supplies, AC-DC power supplies, linear regulator, AC power supplies, switched mode power supplies, and programmable power. Of the various market segments, the medical application segment has been estimated to account for 4-5% share (in terms of revenue) of the global AC-DC and DC-DC power supply market by 2017 end. Major applications of medical power supplies include MRI, CT scan, and PET scanners. Increased demand for medical care at home is driving market growth currently. In fact, the market has seen traction in the sale of home healthcare devices, including those used for patient monitoring, therapeutic, and surgical applications.
Report Inclusions
Persistence Market Research offers a five year forecast of the global medical power supply devices market between 2017 and 2022. This report covers the global medical power supply devices market performance in terms of value contribution. This section also includes the analysis of key trends, drivers, restraints, challenges, and opportunities, which are influencing the global medical power supply devices market. Impact analysis of the key growth drivers and restraints, based on the weighted average model, is included in this report to better equip clients with crystal clear decision-making insights.
Research Methodology
Given the ever-fluctuating global economy, the report not only forecasts the market on the basis of CAGR but also analyses the impact of the key parameters for each year of the forecast period. This helps clients to understand the predictability of the market and identify the right opportunities across the market during the forecast period. Also, a significant feature of this report is the analysis of all vital segments in terms of absolute dollar opportunity. The absolute dollar opportunity is critical for assessing the level of revenue opportunity in the market.
In order to evaluate the market size, revenue generated by the medical power supply devices manufacturers has been taken into consideration. Average selling price for each product across each region was taken into account for estimating market revenue across the respective regions. Additionally, a large number of various types of healthcare institutions in each region have been taken into consideration. Besides, an average number of beds and equipped with equipment requiring a power supply in each type of healthcare institutions have been taken into consideration to estimate the medical power supply market size Moreover, market estimates have been analyzed keeping in mind different factors including technology, environment, economic, legal, and social.
In order to provide correct market forecast statistics, the current market was sized as it forms the basis of the medical power supply devices market during the forecast period. Given the characteristics of the market, we triangulated the outcome of three different types of data including secondary research, primary research, and data from paid databases. Primary research represents the bulk of our research efforts, supplemented by extensive secondary research. Secondary research includes key players’ product literature, annual reports, press releases, and relevant documents, recent trade journals, technical writing, Internet sources, trade associations, agencies, and statistical data from government websites. This collated data from primary and secondary data sources is then analysed by the in-house research panel using market research statistical tools.
Competition Landscape
In the final section of this report on the medical power supply devices market, the competitive landscape is included in order to present the clients with a dashboard view based on the categories of providers in the value chain of the market, product portfolios, and key differentiators. This section is important for gleaning insights about the participants in the market’s ecosystem. Additionally, it enables identification and evaluation of key competitors based on the in-depth assessment of their capabilities and successes in the marketplace. The report provides comprehensive profiles of the providers in the market to evaluate their long-term and short-term strategies, key offerings, and recent developments.
Key features of this report
- Drivers, Restraints, and Challenges in the Medical Power Supply Devices Market
- Latest Innovations and Key Developments in the Market
- Analysis of Business Strategies of Major Players
- Medical Power Supply Devices Market Estimates and Forecast
Market Taxonomy
By product type
- Standard medical power supply
- Open Frame Power Supply Devices
- Enclosed Power Supply Devices
- Encapsulated Power Supply Devices
- External Power Supply Devices
- Configurable medical power supply
- Open Frame Power Supply Devices
- Enclosed Power Supply Devices
- Encapsulated Power Supply Devices
- External Power Supply Devices
By Function
- AC-DC Power Supply Devices
- DC-DC Converters
By End User
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Long Term Care Centers
- Rehabilitation Centers
- Diagnostic Centers
- Home Care Settings
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
Companies covered in Medical Power Supply Devices Market
Key players in the medical power supply devices market include:
- XP Power, CUI Inc.
- Astrodyne TDI.
- Artesyn Embedded Technologies (Emerson Network Power).
- TDK-Lambda.
- SL Power Electronics.
- Delta Electronics, Inc.
- GlobTek, Inc.
- Powerbox International AB.
- Other.
These players have been profiled on the basis of various attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.
