Global Market Study on Medical Power Supply Devices: Portable and Homecare Devices Represent Lucrative Segments


Medical Power Supply Devices  Market
  • Published On : Dec-2019 |
  • Pages : 300 Pages |
  • Format : Medical Power Supply Devices  Market Medical Power Supply Devices  Market Medical Power Supply Devices  Market Medical Power Supply Devices  Market

Portability Emerging as Sought-after Feature

The growth of the medical power supply devices market is driven by increasing demand for healthcare services at home as it helps in saving 20 to 50% of the total costs as compared to regular hospital treatment, depending on the service taken. Interconnectivity through devices and portability of medications and equipment make it feasible to provide critical care at home.  The patient can get recovered quickly in the comfort and familiar surroundings of the house rather than the hospital environment. The demand for health care at home is also increasing due to factors such as rising cost of health care services and hospital stays, and shortage of nurses and other healthcare personnel.

  • In India, the typical cost of a stay in hospital ICU ranges from INR 40,000 to INR 50,000/day.

Home healthcare is gaining traction as the population of elderly people is increasing, and they want to have better social positioning facilities such as healthcare at home. As it seems very expensive at a face value, it shows social status of people. This factors help in increasing the demand for medical power supply devices.

Advanced Technologies to Pave the Way for Innovative Devices

Advanced medical power supply devices enable physicians to better diagnose and treat patients, which in turn, enhance patients’ confidence. Technological developments in medical diagnostic systems, such as Magnetic Resonance Imaging (MRI) and X-Ray equipment, arehich nose and treat patients  leading to the need for improved medical power supply devices with higher switching characteristics.

For instance, high voltage of 120 kV required by a CT unit is generated using a resonant inverter, which is switched at the rate of 100 kHz. This increase in the switching rate of medical power supply devices help improve the diagnostic result and at the same time, reduce the weight and size of the equipment. The innovative medical power supply devices are introduced by key players.

Upgrading Medical Devices to Comply with Changing Medical Standards

Environmental and economic factors are playing an ever-increasing vital role in improving output efficiencies of medical power supply devices, without losing the EMI standards. Various governments have imposed mandatory regulation standards such as electromagnetic compatibility standards, ENERGY STAR efficiency improvement program, and RoHS and WEEE (waste controls and recycling) directives in order to reduce and control radiated and conducted electrical noise. In case of medical power supply devices, patients and operators’ safety are given priority over other design considerations.

Product Recalls Hold Significant Impact

Product failure and changes in standard regulations and certifications of medical power supply devices have led to an increase in product recalls in the recent past. This, in turn, increases OEM’s operational, inventory, and logistics costs, thereby, resulting in significant revenue losses for companies. Manufacturers of medical power supply devices are increasingly offering medical power supply devices with multiple functions.

In March 2016, Food & Drug Administration (FDA) recalled ventilators manufactured by Drägerwerk AG & Co as the power supplies caused the ventilator to shut down unexpectedly, which could have resulted in patient injury or death. 

Market in APEJ Exhibits High Growth Potential

Asia Pacific Excluding Japan (APEJ) market is anticipated to witness an impressive growth rate in the global medical power supply devices market, during the forecast period. Asia Pacific region recently witnessed an increase in demand for home healthcare facilities mostly for elderly people. The demand for eEountries of Asia Pacific e in txternal medical power supply devices is increasing, owing to an increase in the usage of compact, portable medical devices, which employs an external power supply.

Moreover, the demand for medical power supply devices in the region is rising due to increasing popularity of powered equipment in healthcare facilities and advancement in healthcare facilities. Furthermore, factors such as technological advancements, government initiatives, portable medical devices, increase in aging population, and increase in occurrence of chronical diseases, are driving market growth in the region.

Analyst’s Viewpoint

A comprehensive view of the medical power supply devices market has led our analysts to conclude that, the market of medical power supply devices is proliferating at a remarkable rate. Regions such Asia Pacific Excluding Japan is holding a large part of the medical power supply devices market. Among end users of medical power supply devices market, homecare is expected to grow rapidly as healthcare facilities at homes helps the patient in recovering early and also saves cost as compared to treatments in hospitals. New product innovations and strong financial position of key market players will also give momentum to the medical power supply devices market. Regional expansion and collaborations with providers of other medical power supply devices are some strategies opted by key players to boost their sales of medical power supply devices.

Report Description - Medical Power Supply Devices Market

Persistence Market Research (PMR) recently published a new research analysis on the medical power supply devices market for the assessment period 2019 - 2029. The research study on the medical power supply devices market offers a close look at the evolving aspects of the medical power supply devices market as well as the dynamics impacting the market growth. The research study focuses on the key developments that have made their mark in the medical power supply devices market and other developments that are on the cards. The report talks about various macro- and micro-economic factors responsible for having an in-depth impact on the growth of the medical power supply devices market.

A direct market overview provides the growth scenarios and market potential with maximum precision, which is adjudged with suitable assumptions. The report features unique and relevant factors that are likely to have a significant impact on the medical power supply devices market during the forecast period. This report includes a detailed and considerable amount of information, which will help new manufacturers in the most comprehensive manner for better understanding.

Several stakeholders in the medical power supply devices market can rely on the data offered in this research study and delve into pragmatic decision-making. Moreover, information offered in the medical power supply devices market report also helps new market entrants expand their bases in the medical power supply devices market.

The report elaborates the historical and current trends molding the growth of the medical power supply devices market. The performance journey of the medical power supply devices market has been drawn and analyzed in way that the lucrative side of the market is evident to the readers. The competitive landscape presented in the medical power supply devices market report gives a detailed outlook of profiles of key companies operating in the market, along with their differential strategies and key focus areas.

Medical Power Supply Devices Market: Taxonomy

PMR’s research study on the global medical power supply devices market offers a detailed market taxonomy, wherein the key segments have been discussed in detail. The segmentation of the medical power supply devices market has been offered on the basis of product type, function, end-user and region. Every segment has been analyzed in detail and data pertaining to the growth of each segment has been included in the study.

Product Type

Function

End-user

Region

Open Frame

AC-DC Power Supply Device

Hospitals

North America

Enclosed

DC-DC Converter

Ambulatory Surgical Center

Latin America

Encapsulated

Clinics

Western Europe

External

Rehabilitation Centers

Eastern Europe

Diagnostic Centers

Asia Pacific Excluding Japan

Home Care Setting

Japan

Middle East and Africa

Medical Power Supply Devices Market: Key Questions Answered in the Report

The research study on the medical power supply devices market offers inclusive insights about the growth of the market in the most comprehensible manner for better understanding of users. The insights offered in the medical power supply devices report answer some of the most salient questions that assist the stakeholders in gauging all the emerging possibilities.

  • How has the rapidly changing business environment turned into a major growth engine for the medical power supply devices market?
  • How ensuring compliance with industry regulations is boosting the medical power supply devices market?
  • What are the key trends that are constantly shaping the growth of the medical power supply devices market?
  • Which are the prominent regions offering plentiful opportunities for the medical power supply devices market?
  • What are the key differential strategies adopted by key players to command a significant chunk of the global market share?

Medical Power Supply Devices Market: Research Methodology

A unique and promising research methodology forms the base of the medical power supply devices market during the forecast period. The report has been prepared after a comprehensive analysis of the market happenings and then riveting insights have been compiled meticulously. The research methodology of the medical power supply devices market has been a two-step process that comprises of primary and secondary research. Key stakeholders, which include medical power supply devices    manufacturers, suppliers, and distributors, have been interviewed and experts of several designations, including executive vice presidents, directors, service engineers, technical advisors, GM marketing professionals, and sales professionals.

Secondary sources referred to garner the report findings include investor presentations of manufacturers, World Bank, and many other credible sources.

Companies covered in Medical Power Supply Devices Market Report

  • Astrodyne TDI
  • SL Power Electronics
  • XP Power
  • Power Box
  • Delta Electronics
  • CUI Inc.
  • Mean Well 
  • FRIWO
  • TDK Lambda
  • SynQor
  • Artesyn Embedded Technologies

Medical Power Supply Devices Market

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