Medical Power Supply Devices Market : Rising Demand for Portable and Homecare Devices is Expected to Drive Growth

Power supplies are electronic or electrical equipment, which changes the form of a source of power into the desired form compatible with equipment for which the power supply is used. Medical power supply devices are used in a wide range of medical applications such as MRI, X-ray, CT and PET scanners, patient monitors, blood analyzers, DNA equipment, dental equipment, and robotic surgical devices. Specification and selection of power supplies for medical applications is a task that needs to be executed effectively; especially, due to the frequent changes in the safety and environmental standards for medical equipment. Electromagnetic Interference (EMI) creates significant distortion to the operation of equipment. Medical equipment is more sensitive to Electromagnetic Interference (EMI) as compared to industrial equipment. This, in turn, makes EMC (Electromagnetic Compatibility) with efficient performance a key challenge for OEMs of medical power supply devices.

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The global medical power supply devices market has been estimated to be valued at US$ 1,188.7 Mn by 2015 end, and is expected to expand at a CAGR of 4.5% from 2016 to 2022. The global medical power supply devices market is segmented on the basis of product type, function, end user, and region. By product type, the market is segmented as standard medical power supply and configurable medical power supply. Standard medical power supply segment is analyzed to dominate the market by 2015 end, accounting for more than 64% market share in terms of revenue.

The global medical power supply devices market is segmented on the basis of end-users into hospitals, ambulatory surgical centers, clinics, long-term care centers, rehabilitation centers, diagnostic centers, and home care settings. The hospital end-user segment is estimated to be the most dominant segment in 2015 (in terms of revenue); however, the home care setting segment is expected to expand at the highest CAGR during the forecast period, primarily due to the increasing demand for medical-care at home.

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On the basis of geographic location, the global medical power supply devices market is segmented into North America, Europe, Middle East & Africa, Asia Pacific and Latin America. Among these, Asia-Pacific is estimated to be the largest market in 2015 (in terms of revenue) and is expected to retain its dominance in the medical power supply devices market over the long run.

Key players in the medical power supply devices market include XP Power, CUI Inc., Astrodyne TDI, Artesyn Embedded Technologies (Emerson Network Power), TDK-Lambda, SL Power Electronics, Delta Electronics, Inc., GlobTek, Inc., and Powerbox International AB. Currently, the medical power supply devices manufacturers are focusing on creating smaller, efficient, and reliable medical power supply devices that could be offered at a competitive price. Besides, omnichannel distribution is a key go-to-market strategy adopted by most of the leading players in this market currently.

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