Download Sample, Rising Demand for Energy Efficient & Wireless Medical Power Supply Devices is Driving the Market Expansion
Even though science and technology are progressing at a rapid rate and various electronic devices have made life far more convenient than ever before, the environment we live in is still full of numerous unstable factors that could, at any time and under unpredictable conditions, affect the safety and stability of our working and personal lives. Often, the electricity system is the first component to fail in many infrastructure mishaps. Thus, the reliability and security of the power supply should be closely examined, particularly in industries that deal with healthcare. In recent years, medical equipment has become more energy-efficient, eco-friendly and portable. In order to power wireless test and measurement equipment for medical applications, power supply device manufacturers are concentrating on creating small and energy-efficient medical power supplies.
The rising demand for wireless medical devices is anticipated to increase OEM expenditure on designing and producing medical power supply devices with particular equipment needs. For example, Asian Power Devices Inc. (APD), a leader in power electronics and renewable energy technology, has used high efficiency, low power consumption, low noise, miniaturizing, and portability as the focus of their product development and designs. The results can be observed in the incredibly dependable 3W–500W medical power supply from APD. These reliable medical power supplies meet the criteria of IEC60601, the international medical safety standard, and are employed extensively in a variety of medical devices, including ventilators, nebulizers, oxygen concentrators, medical displays, blood pressure monitors, humidifiers, etc.
The rising demand for wireless medical devices is anticipated to increase OEM expenditure on designing and producing medical power supply devices with particular equipment needs. For example, Asian Power Devices Inc. (APD), a leader in power electronics and renewable energy technology, has used high efficiency, low power consumption, low noise, miniaturizing, and portability as the focus of their product development and designs. The results can be observed in the incredibly dependable 3W–500W medical power supply from APD. These reliable medical power supplies meet the criteria of IEC60601, the international medical safety standard, and are employed extensively in a variety of medical devices, including ventilators, nebulizers, oxygen concentrators, medical displays, blood pressure monitors, humidifiers, etc.
Growing Concern for Patient Safety and Quality of Care is Propelling Market Expansion.
Medical power supply devices are specialized electrical devices that give medical equipment, such as patient monitors, ventilators, and other life-support systems, a controlled and secure source of power. One of the main factors propelling the growth of the medical power supply devices market is patient safety and the standard of care. In order to guarantee that the devices supply reliable and consistent power to essential medical equipment, they are designed to meet high safety and performance standards established by regulatory organizations like the FDA and IEC.
As a result, patient safety and the quality of care being delivered are receiving more attention from the healthcare business. There is now a greater need for dependable and high-quality medical equipment, including power supply devices, which are crucial for guaranteeing the effective operation and security of medical equipment. Electrical malfunctions and failures, which could have detrimental effects on patients and medical staff, can be avoided with the usage of medical power supply equipment.
As a result, patient safety and the quality of care being delivered are receiving more attention from the healthcare business. There is now a greater need for dependable and high-quality medical equipment, including power supply devices, which are crucial for guaranteeing the effective operation and security of medical equipment. Electrical malfunctions and failures, which could have detrimental effects on patients and medical staff, can be avoided with the usage of medical power supply equipment.
Recent Trends in the Medical Power Supply Devices Industry
- Miniaturization for portable medical devices.
- Increased use of wireless charging technologies.
- Expansion of smart and connected medical power devices.
- Rise in demand for modular and customizable power solutions.
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New Product Launches & Acquisitions Present Lucrative Growth Potential for the Market Development
In an effort to increase their market share globally, major market participants are consistently pursuing competitive marketing strategies such as partnerships, technical advancements, investments, acquisitions, and R&D activities. In April 2022, Biotricity Inc., a provider of consumer healthcare and medical diagnostic technology, officially began the sale of the FDA-cleared, wireless wearable cardiac monitoring device, Biotres. The innovative technology developed by the company, Biotres, is what remote patient monitoring and the transmission of real-time diagnostic information will look like in the future. It replaces the traditional one-lead patch Holter monitor and is a three-lead device that constantly records electrocardiogram (ECG) data for the early detection of cardiac arrhythmias.
Earlier, in August 2021, CUI announced the addition of twelve new, efficient, and space-saving versions to its internal medical AC/DC power supply VMS-C and VMS-C-CNF series. These new, higher power variants significantly expand the selection and are chassis mount units with open frame or metal case options that are ideal for use in medical and home healthcare applications, like ultrasound equipment and hospital beds. Again, in April 2022, Advanced Energy, a leader in highly engineered, precise power conversion, measurement, and control solutions, announced today that it has reached a definitive agreement to acquire SL Power Electronics Corporation, a leading supplier of specialized power solutions for medical and advanced industrial applications from Steel Partners Holdings L.P. With the addition of a complementary product portfolio from the acquisition, Advanced Energy's capacity to satisfy the expanding demands of industrial and medical clients is anticipated to be enhanced.
Earlier, in August 2021, CUI announced the addition of twelve new, efficient, and space-saving versions to its internal medical AC/DC power supply VMS-C and VMS-C-CNF series. These new, higher power variants significantly expand the selection and are chassis mount units with open frame or metal case options that are ideal for use in medical and home healthcare applications, like ultrasound equipment and hospital beds. Again, in April 2022, Advanced Energy, a leader in highly engineered, precise power conversion, measurement, and control solutions, announced today that it has reached a definitive agreement to acquire SL Power Electronics Corporation, a leading supplier of specialized power solutions for medical and advanced industrial applications from Steel Partners Holdings L.P. With the addition of a complementary product portfolio from the acquisition, Advanced Energy's capacity to satisfy the expanding demands of industrial and medical clients is anticipated to be enhanced.
Technical Limitations of Medical Power Supply Devices are Likely to be a Challenge for the Market Growth
Sales of medical power supply devices are declining as a result of the sudden appearance of multifunctional medical equipment, which is reducing the market for equipment designed specifically for a given use. Additionally, product recalls have also increased as a result of product failures and constantly shifting regulatory standards and certifications of medical equipment. Furthermore, technical limitations of medical power supply devices including high functional noise, poor power optimization, device overheating, and poor biomolecule detection quality also pose challenges for the market growth. All these factors are anticipated to negatively impact the market expansion.
Astrodyne TDI, SL Power Electronics, XP Power, Power Box, Delta Electronics, CUI Inc., Mean Well, FRIWO, TDK Lambda, SynQor, and Artesyn Embedded Technologies are some of the prominent market players operating in the global medical power supply devices market.
Astrodyne TDI, SL Power Electronics, XP Power, Power Box, Delta Electronics, CUI Inc., Mean Well, FRIWO, TDK Lambda, SynQor, and Artesyn Embedded Technologies are some of the prominent market players operating in the global medical power supply devices market.
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Improved Healthcare Infrastructure and Rising Adoption of Modern technologies is Accelerating the Market Growth
North America is anticipated to dominate the medical power supply devices market owing to its robust healthcare system and rising adoption of cutting-edge technologies. The region is seeing an increase in both the need for home health care, particularly among the geriatric population and investments in research and development. Due to advancements in healthcare, which are accelerating the expansion of the regional market, several public institutions in the region are anticipated to improve their laboratory capacities. Additionally, during the forecast period, significant growth is expected to occur in Asia Pacific. The market for medical power supply devices in Asia-Pacific is expected to expand due to the rising prevalence of chronic disorders. An expanding health infrastructure with cutting-edge equipment and higher patient expenditure on healthcare, as well as medical power supply technologies, all play significant roles in the development of the market.
The report provides a detailed overview of the medical power supply devices market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the medical power supply devices market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the medical power supply devices market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the medical power supply devices market. Some key countries and regions included in the medical power supply devices market report are as follows:
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Ireland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Israel, Iran, Kenya, Nigeria, Rest of MEA |
Medical Power Supply Devices Market Research Report Covers In-depth Analysis on:
- Medical power supply devices market detailed segments and segment-wise market breakdown
- Medical power supply devices market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in medical power supply devices industry)
- Current, historical, and forthcoming 10 years market valuation in terms of medical power supply devices market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Medical power supply devices market demand analysis
- Medical power supply devices market pricing analysis over the forecast period (by key segment and by region)
- Medical power supply devices market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in the medical power supply devices market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in medical power supply devices market
- Medical power supply devices market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on the medical power supply devices market forecast by countries
- Mergers and acquisitions in the medical power supply devices market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key trends shaping the medical power supply devices market?
The key trends include the increasing adoption of compact and energy-efficient devices, the rise in home healthcare equipment, and advancements in power supply technology to meet medical safety standards.
What factors drive the demand for medical power supply devices?
The growing prevalence of chronic diseases, the rising elderly population, advancements in medical equipment, and the expansion of home healthcare services drive the demand for medical power supply devices.
How does the growing trend of home healthcare impact the medical power supply devices market?
The shift toward home healthcare has increased demand for portable, lightweight, and energy-efficient power supply devices to support medical equipment used in non-hospital settings.
