About Medical Power Supply
Healthcare facilities are thriving across the world, owing to technological variations in the healthcare division and an increasing geriatric population. Healthcare technologies are developing in all conceivable aspects, covering from patient registration to data monitoring, and from lab tests to self-care devices. Medical power supplies are power supplies that deliver conditioned outputs for medical equipment, instruments, and tools. They are built to provide the IEC601and UL60601 safety standard which covers electrical, medical, and dental equipment that is designed for trained use. This standard assures equipment security, which is especially important in the medical field. The geriatric population is expanding at a speedy pace, globally. Presently, about two-thirds of the world’s geriatric population lives in growing countries. This has provoked the requirement for an improvement in healthcare setups all over the world.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.5% |
The companies are exploring the market by adopting mergers & acquisitions expansions investments new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Medical Power Supply market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
TDK-Lambda Corporation (Japan), Wall Industries Inc. (United States), XP Power (Singapore), Fsp Group (Taiwan), Integrated Power Design (United States), Delta Electronics Inc.(Taiwan), Spellman High Voltage Electronics Corporation (United States), Excelsys (Ireland), Friwo Geratebau GmbH (Germany), Globtek Inc. (United States) and Inventus Power (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Artesyn Technologies (United States), Cincon Electronics Corporation (Taiwan), Eos Power (India), Cosel Co. Ltd. (Japan) and Protek Power N.A. (United States.
Segmentation Overview
AMA Research has segmented the market of Global Medical Power Supply market by Type (Linear power supplies, Switching power supplies and Battery -based), Application (Dental, Ophthalmic, Ultrasound, Surgical, Ventilator and Others) and Region.
On the basis of geography, the market of Medical Power Supply has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Frame Form, the sub-segment i.e. Open frame will boost the Medical Power Supply market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advancements in medical power supply products and The rise in healthcare expenditure
Market Growth Drivers:
Infrastructural developments to increase the demand for medical equipment and subsequently for medical power supplies and Increasing the demand for medical care at home
Challenges:
The high Installation cost of the medical power supply and Challenge of meeting functional and regulatory requirements
Restraints:
Continuous addition of advanced and sensitive electronics electromagnetic units and automation in medical functional and support infrastructure is placing new challenges in healthcare facilities
Opportunities:
Rising incidences of chronic diseases and Growth in the demand for portable and homecare device across the globe.
Market Leaders and their expansionary development strategies
In November 2023, Brandon Medical, a distinguished UK-based medical technology company, and Device Technologies, a leading medical solutions provider across Asia Pacific, proudly announce their collaborative venture to introduce cutting-edge medical equipment to Australia, New Zealand, and Southeast Asia. This strategic partnership, commencing in November 2023, marks a significant step towards revolutionizing patient care environments and empowering healthcare professionals in the Asia Pacific region.
In March 2023, COSEL Co, Ltd announced the expansion of its medical power offering with the addition of the new UMA series, the first two models being the 30W UMA30F and the 60W UMA60F. Both models feature a universal input range of 85 to 264VAC and comply with international safety standards.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Medical Power Supply Providers, Government Regulatory and Research Organizations and End-Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.