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Medical Power Supply Devices Market

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

Medical Power Supply Devices Market Segmented By Medical Power Supply, Medical Power Supply Equipment, US Medical Power Supply Devices, Portable Medical Power Supply Devices, Power Supply Intelligence Service, Medical and Healthcare Power Supply

Medical Power Supply Devices Market Outlook (2023-2033)

Global demand for the medical power supply devices is estimated at US$ 1,673.2 Mn as of 2022 and is forecasted to have a revenue of US$ 2,412.7 Mn by the ending of 203. The medical power supply devices market is estimated to be US$ 1,705.0 Mn as of 2023, and is forecasted to progress at a CAGR of 3.5%.

Medical power supply devices are specialized electrical devices that provide a regulated and safe source of power to medical equipment, such as patient monitors, ventilators, and other life-support devices. They are designed to meet strict safety and performance standards set by regulatory agencies, such as the FDA and IEC, to ensure that the devices provide reliable and consistent power to critical medical equipment.

It used to power patient monitors that track vital signs, such as heart rate, blood pressure, and oxygen saturation. Also used to power imaging devices, such as X-rays, MRI, and CT scanners, and other diagnostic equipment that requires a stable power supply.

Medical power supply devices often include features such as backup power systems, surge protection and isolation to protect against electrical interference and ensure patient safety. These devices help ensure the safety and reliability of medical equipment by providing a clean and stable power source, reducing the risk of equipment failure or patient harm.

The medical power supply devices market held a 5% market share of the power supply devices market.

The market in North America held the largest market share of 21.7% in 2022 and is expected to maintain its dominant position throughout the forecast period, while the market in Europe held a 14.2% value share in the global market in 2022.

Medical Power Supply Devices Market Size (2022)

US$ 1,673.2 Mn

Projected Market Value (2033)

US$ 2,412.7 Mn

Global Market Growth Rate (2023-2033)

3.5%

AC-DC Power Supply Market Share (2022)

51.4%

US Market Share (2022)

22.6%

Hospital end user Market Share (2022)

27.5%

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What are the Rising Factors for the Medical Power Supply Devices Market?

“Growing focus on patient safety and quality of care in the healthcare industry”

Patient safety and quality of care are one of the key factors driving the growth of the medical power supply devices market. The healthcare industry is placing a greater emphasis on patient safety and the quality of care being provided. This has led to an increased demand for high-quality and reliable medical devices and equipment, including power supply devices, which are essential for ensuring the proper functioning and safety of medical equipment. The use of medical power supply devices helps prevent electrical malfunctions and failures, which can have serious consequences for patients and medical personnel.

  • In May 2022, In the United States, LYMA Life Ltd. launched a device which is at-home hair removal device medical-grade laser-based.
  • In December 2020, Advanced Energy Industries, a leading company in highly engineered technologies, launched the Excelsys CoolX®3000 modular, a selectable power supply system. CoolX3000 simplifies software configuration for the world's leading OEMs by providing unparalleled levels of flexibility and scalability with approximately to 24 isolated user field-configurable outputs and corresponding output controls.
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Which Factors Are Driving the Opportunity in the US For the Medical Power Supply Devices Market?

“Growing Demand for Medical Devices and High healthcare spending”

The US is home to a large and growing population of aging individuals, who are more likely to require medical devices and equipment. The US has a high level of healthcare spending compared to other countries, and this has led to increased demand for medical devices and equipment, including power supply devices.

The US healthcare system is among the most technologically advanced in the world, and medical devices play a crucial role in diagnosing, treating, and managing a wide range of medical conditions. However, the high cost of healthcare in the US has also been a subject of debate and concern.

The US is home to many of the world's leading medical device companies, which are driving innovation and growth in the medical power supply devices market.

These are the reasons why in 2022, the U.S. medical power supply devices market companies helped the country to account for a dominant share of 22.6% in the global marketplace.

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Which Countries in Asia Have the High Global CAGR for the Medical Power Supply Devices Market?

“India Has High Global CAGR for Medical Power Supply Devices Market”

India has a large and growing population, and with increasing awareness about healthcare, there is a growing demand for medical devices and equipment. he Indian government has been increasing healthcare spending in recent years, which has led to an increase in the availability of medical devices and equipment, including power supply devices.

The Indian government has launched several initiatives to improve healthcare infrastructure and increase access to medical devices and equipment, including power supply devices. India's population is expected to continue growing and aging in the coming years, which will increase the demand for medical devices, including power supply devices.

The CAGR for India's adoption of medical power supply devices markets is estimated to be around 4.8%.

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Which Countries in East Asia Have the High Global Markets for Medical Power Supply Devices Market?

“China has a High Global Market Share in the East Asia Region”

The medical power supply devices market in China driven by increasing demand for medical devices and equipment, advancements in medical technology, and the growing focus on patient safety and quality of care in the healthcare industry.

Chinese companies, such as C-Lion, Shuangyu Electronics, and Yantai Juguang, have been making significant investments in the medical power supply devices market and are competing with well-established international players. These companies offer a range of medical power supply devices, including AC-DC and DC-DC power supplies, isolation transformers, and medical-grade power supplies.

Due to this reason, the medical power supply devices market for China in 2022 held a market share of 18.4% in the global medical power supply devices market.

Category-wise Insights

Which Power Supply Function Held the Largest Market Share in Medical Power Supply Devices Market?

“AC-DC Power Supply Devices Allows Having the Larger Market Share”

AC-DC power supplies are majorly used in hospitals. These power supplies convert the alternating current (AC) power from the electrical grid into direct current (DC) power, which is required by many medical devices and equipment.

AC-DC power supplies are commonly used for larger medical equipment and devices that require a steady and reliable power source, such as imaging systems, laboratory equipment, patient monitoring devices, and life support systems.

In hospitals, it is important to have reliable and safe power supplies to ensure that medical equipment and devices function properly and patients receive the highest quality care. AC-DC power supplies provide a steady and reliable power source and meet strict safety standards, making them an essential component of the healthcare industry.

In 2022, AC-DC power supply market share was estimated to dominate the global market and account for 51.4% of the total market value share.

Which End user of the Medical Power Supply Devices Market Holds a Larger Share Market?

“Hospital End user Segment Holds a Larger Share Market”

In 2022, it was estimated that the Healthcare vertical will account for 27.5%.

The medical power supply devices market is a growing segment of the healthcare industry, with hospitals being one of the largest end-users of these devices. Hospitals require a steady and reliable power source to ensure that medical equipment and devices function properly and patients receive the highest quality care.

The demand for medical power supply devices in hospitals is driven by several factors, including the growing focus on patient safety and quality of care, the increasing use of medical devices and equipment, and the need for backup power supplies to ensure continuity of care during power outages.

Competitive Landscape

The medical power supply devices market is highly competitive, with several well-established companies and a number of smaller players operating in the market. These companies compete on factors such as product quality, technology, innovation, brand reputation, and pricing. The market is expected to see continued consolidation, as larger players acquire smaller companies to expand their product portfolios and market share.

  • In April 2022, Biotres, a wireless wearable cardiac monitoring device, was introduced by Biotricity Inc. It is a three-lead device that continuously records electrocardiogram (ECG) data in order to detect cardiac arrhythmias early.
  • In August 2021, CUI, a Bel company, has launched 12 complete new medical AC-DC power supply models to its VMS-C and VMS-C-CNF CUI.

Recent developments related to key players providing the medical power supply devices market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Medical Power Supply Devices Market Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2018-2022

Market Analysis

US$ Mn for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • By Product Type
  • By Function
  • By End-User
  • Region

Key Companies Profiled

Pricing

Available upon Request

Key Segments of Medical Power Supply Devices Market Research

By Product Type:

  • Open Frame
  • Enclosed
  • Encapsulated
  • External

By Function:

  • AC-DC Power Supply Device
  • DC-DC Converter

By End-User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Rehabilitation Centers
  • Diagnostic Centers
  • Home Care Setting

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

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

- Frequently Asked Questions -

In 2022, demand for the medical power supply devices market amounted to US$ 1,673.2 Mn.

The global medical power supply devices market is estimated to grow at a CAGR of 3.5% over the forecast period.

The market for medical power supply devices market is forecasted to have a market value of US$ 2,412.7 Mn by 2033.

Demand for the medical power supply devices market in India is projected to rise at 22.6% CAGR over the forecast period.

In 2022, North America medical power supply devices market held a dominant market share of 21.7%.

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