Medical Power Supply Market Estimated to Experience a Hike in Growth by 2022-2031 | Delta Electronics, TDK-Lambda Corporation , SL Power Electronics, XP Power

The global medical power supply market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 2.4 billion by 2031, at a CAGR of 7.0% during the forecast period.

New York, According to a new market research report published by Global Insight Services Medical Power Supply Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Medical power supply is a small device that supplies power in form of electricity to medical devices. The primary function of a power supply is to convert one form of electrical energy to another. These medical power supply devices must be specially designed to meet the IEC60601 medical equipment safety standard. These standalone devices can be used in an extensive range of medical applications. At times, they are integrated into larger devices/equipment.

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Market Trends and Drivers

Increased market penetration of portable and integrated medical devices will propel the market growth during the forecast period. Portable/integrated instrument adoption and recent advancements in product design & architecture are supported by developments in adjacent industries, such as semiconductor chips and integrated circuits. Such devices have witnessed rapid installation due to their advantages-improved power factor correction, better thermal management, and reduced audible noise. The availability of funding and support to develop portable medical devices has also driven overall research activity in this sector. These factors have favored the adoption of medical power solutions since the growth of this market is directly tied to instrument use. For instance, in November 2019, Schwarzer Cardiotek GmbH (Germany) was awarded an R&D grant by the Zentrale Innovations programm Mittelstand (ZIM). Schwarzer Cardiotek intends to integrate its electrophysiology recording platform EP-TRACER with Livetec's ablation system, LiveCath. Similarly, in 2018, Cambridge Medical Robotics (UK) raised USD 100 million to prepare its Versius system (a portable robot for laparoscopic applications) for planned commercialization.

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Market Restraints and Challenges

Stringent regulatory compliance and safety standards may impede the market growth. Component manufacturers are expected to adhere to standards implemented by target countries. The majority of power supply components manufactured worldwide are mandated to comply with IEC60601-1 standards and IEC60601 "Medical Electrical Equipment, Part 1: General Requirements for Safety," which includes specific guidelines for patient safety, provider protocols, and quality mandate for design of electronic medical devices. The RoHS (Restriction of Hazardous Substances) and Electronic Waste Directive (Europe) also impose restrictions on product commercialization for DC power supply manufacturers.

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Global Medical Power Supply Market Segmentation
By Technology

AC to DC Power Supply
DC to DC Power Supply

By Type

Open Frame Power Supply
Enclosed Power Supply
Adapter Power Supply
Converters

Major Players in the Global Medical Power Supply Market

The key players in the medical power supply market are Advanced Energy Industries (US), Delta Electronics (Taiwan), TDK-Lambda Corporation (Japan), SL Power Electronics (US), XP Power (Singapore), Spellman High Voltage Electronics Corporation (US), COSEL (Japaan), FRIWO Gerätebau (Germany), Bel Fuse (US), and MEAN WELL Enterprises (Taiwan), among others.

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Reasons to buy Medical Power Supply Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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