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Medical Power Supply Market Trends, Top Companies, Share, Growth And Forecast 2033
Medical Power Supply Market
As per the report, 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 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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Surge In Healthcare Expenditure Fuels Growth In The Medical Power Supply Market
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.
Technological Advancements In The Medical Power Supply Market
Technological advancement is a key trend gaining popularity in the medical power supply market. Major companies operating in the medical power supply market are focused on developing new technological solutions to strengthen their position. For instance, in May 2022, Connect America LLC, a US-based company operating in medical power supply, launched Connect America Home, the next-generation, AI-enabled digital health and safety platform, which is a first-of-its-kind solution providing personal emergency response services (PERS) and remote patient monitoring (RPM). This platform provides continuous monitoring to help ageing and vulnerable populations with emergency and non-emergency support.
The medical power supply market covered in this report is segmented -
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 Cente, Clinics, Long Term Care Centres, Diagnostic Centers, Rehabilitation Centers, Home Care Setting
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Major companies operating in the medical power supply market include Koninklijke Philips N.V., Connect America LLC, ADT Security Services, Bay Alarm Medical Inc., VRI Inc., Life Alert Emergency Response Inc, Medical Guardian LLP, Nortek Security and Control LLC, Rescue Alert, AlertONE Service Inc., GreatCall Inc., Ascom Wireless Solutions, LogicMark LLC, Tunstall Healthcare, LifeStation Inc., Mean Well Enterprises Co. Ltd, Delta Electronics Inc., Advanced Energy Industries Inc., Astrodyne TDI Holdings, Bel Fuse Inc., Fuhua Electronic, Shenzhen Megmeet Electric, XP Power, CUI Inc., Powerbox International AB, Spellman High Voltage Electronics Corporation, Wall Industries Inc., SynQor Inc., Artesyn Embedded Technologies, Excelsys Technologies Ltd., FRIWO Gerätebau GmbH, Inventus Power, Protek Power N.A. Inc., P-Duke Power Co. Ltd., EOS Power India Pvt. Ltd., GlobTek Europe Ltd., Power Partners Inc., SL Montevideo Technology Inc., TDK Corporation, Traco Electronic AG
Contents of the report:
1. Executive Summary
2. Medical Power Supply Market Report Structure
3. Medical Power Supply Market Trends And Strategies
4. Medical Power Supply Market - Macro Economic Scenario
5. Medical Power Supply Market Size And Growth
…..
27. Medical Power Supply Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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