IMARC Group, a leading market research company, has recently releases report titled “Medical Power Supply Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global medical power supply market growth, size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Industry Overview of Medical Power Supply

A medical power supply is a crucial component in the healthcare industry, providing electrical power to various medical devices and equipment used for diagnosis, treatment, and patient care. It includes features like isolation transformers to prevent electrical leakage, ensuring the safety of both patients and healthcare professionals. It is designed to meet stringent safety and reliability standards, ensuring the uninterrupted operation of critical medical equipment. It is distinguished by its ability to deliver consistent and clean power, free from electrical noise or interference. It is essential for devices, such as magnetic resonance imaging (MRI) machines, X-ray systems, patient monitors, ventilators, and surgical instruments, where precision and reliability are paramount. It is often equipped with backup systems, such as uninterruptible power supplies (UPS), to guarantee uninterrupted power in case of outages.

How Big Is the Medical Power Supply Market?

The global medical power supply market size reached US$ 1.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.83% during 2023-2028.

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What are the growth prospects and trends in the medical power supply industry?

At present, the increasing healthcare spending across the world, driven by population growth, aging demographics, and the demand for advanced medical services represents one of the key factors impelling the growth of the market. Besides this, ongoing advancements in medical technology are resulting in the development of more sophisticated and power-hungry medical devices. Medical power supplies are required to meet the power demands of these advanced instruments, which is propelling the market growth.

In addition, there is a rise in the prevalence of chronic diseases, such as diabetes, cardiovascular diseases, and cancer. These conditions require continuous monitoring and treatment, leading to increased use of medical devices and, subsequently, medical power supplies. Moreover, the expansion of telemedicine and remote patient monitoring is increasing the need for portable and reliable medical devices. Medical power supplies that support these portable devices are in high demand.

Apart from this, regulatory bodies worldwide are imposing strict standards and certifications on medical devices, including power supplies, to ensure patient safety and product reliability. This, in turn, is encouraging manufacturers to invest in compliant power supply solutions, which is bolstering the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

  • Open Frame Power Supply
  • Enclosed Power Supply
  • Adapter Power Supply
  • Converters

Breakup by Converter Type:

  • AC-DC Power Supply
  • DC-DC Power Supply

Breakup by Application:

  • Diagnostic, Imaging and Monitoring Equipment
  • Surgical Equipment
  • Home Medical Equipment
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

Advanced Energy Industries Inc., Cosel Co. Ltd., CUI Inc., Delta Electronics Inc., FRIWO Gerätebau GmbH, GlobTek Inc., MEAN WELL Enterprises Co. Ltd., SL Power Electronics Corp., SynQor Inc., TDK-Lambda Corporation (TDK Corporation), Wall Industries Inc. (Continental Resources Inc.) and XP Power.

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