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Medical Power Supply Market 2024 Industry Analysis, Trends, Market Size And Forecast Upto 2033
Medical Power Supply Market
The Business Research Company presents an extensive market research report on the "Medical Power Supply Global Market Report 2024," furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Medical Power Supply industry. This report on Medical Power Supply market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The medical power supply market size has grown strongly in recent years. It will grow from $1.77 billion in 2023 to $1.94 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The growth in the historic period can be attributed to aging population, regulatory compliance, patient-centric care, global health preparedness, electrical safety.The medical power supply market size is expected to see rapid growth in the next few years. It will grow to $2.86 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
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Key Market Players:
Koninklijke Philips N.V., Connect America LLC, ADT Security Services, Bay Alarm Medical Inc., VRI Inc.
Market Drivers:
According to the Medical Power Supply Market Report 2024 by The Business Research Company, Increasing expenditure on healthcare is expected to propel the growth of the medical power supply market going forward. All expenditures for the provision of health services, family planning activities, nutrition activities, and health-related emergency aid are included in health expenditure. Medical devices provide healthcare professionals with unparalleled support in the medical diagnosis and treatment process. They are essential for preventing, diagnosing, treating, and rehabilitating illnesses and diseases in a safe and effective way. For instance, in May 2023, according to a report published by the Office for National Statistics, a UK-based government department, between 2020 and 2021, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. Therefore, the increasing expenditure on healthcare is driving the growth of the medical power supply market.
More information about the Global Medical Power Supply Market Report -
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Market segments for Medical Power Supply include:
1) By Type: Open Frame Power Supply, Enclosed Power Supply, Adapter Power Supply, Converters
2) By Converter Type: AC-DC Power Supply, DC-DC Power Supply
3) By End-User: Hospitals, Ambulatory Surgical Center, Clinics, Long Term Care Centers, Diagnostic Centers, Rehabilitation Centers, Home Care Setting
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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