Market Overview
The Global Medical Power Supply Market is expected to grow at a significant CAGR during the forecast period (2024-2031).
A power supply is an electric device that supplies electric power to an electrical load. Safety is the primary factor that distinguishes medical-grade power supplies from commercial models. Medical equipment typically requires longer design cycles than other equipment and more support from the power supply vendor. Advanced medical power supply devices enable physicians to diagnose better and treat patients, enhancing patients’ confidence.
Market Scope
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Technology, By Type, By Application, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The medical power supply market growth is driven by the increasing technological advancements in healthcare equipment, a rise in healthcare facilities, increasing incidences of chronic diseases, and, increasing demand for portable and home-based devices.
The increasing market penetration of portable and integrated medical devices is expected to drive the global medical power supply market growth
Portable/integrated instrument adoption and recent advances in product design & architecture are highly supported by developments in adjacent industries, like semiconductor chips and integrated circuits. Such devices have witnessed rapid installation due to their advantages—improved power factor correction, better thermal management, and reduced audible noise. The availability of funding and support to develop portable medical devices has also driven overall research activity in this sector. These factors have favored the adoption of medical power solutions since the growth of this market is directly tied to instrument use. For instance,
In November 2019, Schwarzer Cardiotek GmbH (Germany) was awarded an R&D grant by the Zentrale Innovationsprogramm Mittelstand (ZIM). Schwarzer Cardiotek intends to integrate its electrophysiology recording platform EP-TRACER with Livetec’s ablation system, LiveCath.
In 2018, Cambridge Medical Robotics (UK) raised USD 100 million to prepare its Versius system (a portable robot for laparoscopic applications) for planned commercialization.
The stringent regulatory compliance and safety standards are likely to hinder the market growth
The component manufacturers are expected to adhere to standards implemented by target countries. The majority of power supply components manufactured worldwide are mandated to comply with IEC60601-1 standards and IEC60601 “Medical Electrical Equipment, Part 1: General Requirements for Safety,” which includes specific guidelines for patient safety, provider protocols, and quality mandate for design of electronic medical devices.
The RoHS (Restriction of Hazardous Substances) and Electronic Waste Directive (Europe) also impose restrictions on product commercialization for DC power supply manufacturers. Such requirements erect additional market entry/expansion barriers for medical power supply manufacturers to enter new markets.
COVID-19 Impact Analysis on Market
A pandemic like COVID-19 may boost the manufacturing of advanced medical devices and equipment to tackle such crises in the future. The increased production of healthcare devices may drive the medical power supply market. For example, GE Healthcare recently announced to increase its manufacturing capacity for medical equipment, including CTs, ultrasound devices, mobile X-ray systems, patient monitors, and ventilators, to cater to the ongoing global challenge of the treatment of COVID-19 patients.
Market Segmentation Analysis
The AC-DC power supply segment is expected to hold the largest share in this market segment
The AC-DC power supply products include 200W and less, 201-500W, 501-1000W, 1,000-3,000W and 3000W and above. The 200W and minor segment dominated the medical power supply market due to the rising incidences of home healthcare devices. Novel product launches and the rising adoption of portable medical device models are expected to increase this segment's growth during the forecast period. For instance, in July 2020, RECOM developed a highly compact 4" x 2" 230W innovative baseplate cooled power supply for MOPP medical, household, industrial, and ITE applications. This new and compact 4" x 2" RACM230-G series power supply from the company supports up to 160W continuous output power and 230W for several seconds for loads with peak demands, without fan cooling.
For instance, in April 2020 - XP Power released its new UCH600 series of convection cooled, 600W AC-DC power supplies. The ultra-compact power supplies do not require additional cooling and deliver full load power under a wide range of conditions. This series can be used in medical devices, as well as for industrial electronics applications.
The diagnostic and monitoring equipment segment is expected to hold the largest share in this market segment.
Increasing the number of government initiatives for the diagnosis of infectious disease and the rising need for fast detection of diseases contribute to the growing demand for diagnostic and monitoring equipment worldwide.
The technology holds a central role in expanding the market for diagnostic and monitoring devices. The rise in the ageing population and the transformation of acute illnesses, like heart failure into chronic diseases, indicates the number of patients is also increasing. For example, according to the World Health Organization (WHO), the global geriatric population is expected to account for about 22% of the global population by 2050, and according to the WHO, in Europe, the people aged 85 years and above is expected to increase from 14 million to 19 million in 2020. It will rise to 40 million by 2050.
The need for continuous functioning has driven the use of uninterrupted power supply solutions in diagnostic imaging equipment. The increasing installation base for diagnostic imaging devices and the growing number of imaging procedures are factors expected to boost the growth of this segment in the forecast period.
The enclosed power supply segment is expected to hold the largest share in this market segment.
An enclosed power supply is typically perceived as the metal-cased variety; the benefit of this is to stop components from being exposed and provide an extra measure of safety for service personnel of end-user systems. The major share of the segment is due to the technological advancements which have resulted in compact enclosed power supplies that offer higher efficiency and low leakage current, which have driven their use. For instance, In June 2018, Cosel Co, Ltd announced the release of 300W and 1000W, which are the new models of high power density with extended communications I/O for demanding medical and industrial applications. The addition of the 300W PCA300F and 1000W PCA1000F to the present 600W PCA600F enhances and expands the family of power provided. The PCA series have an inbuilt extended-UART (Universal Asynchronous Receiver –Transmitter) interface supporting up to 83 commands to observe and manage the range of power supply parameters. This launch will help the company to fulfil the demand for medical and industrial applications and to enhance its product portfolio in the market.
Market Geographical Share
North America region holds the largest market share of the global medical power supply market
North America is expected to serve a large share of the global market, led by the US, which plays a vital role in generating the demand from the region when compared to Canada and, owing to the high implementation of advanced medical devices in the healthcare sector, owing to the increasing necessity to improve healthcare services quality.
According to the population, a bureau report examined the recent changes and estimates that the number of Americans aged 65 and above around 98 million by 2060 from 46 million today. As per the American Heart Association (AHA) report, approximately half of all adults in the United States have heart disease. Heart disease-causing almost 1 out of 4 deaths in the United States, and, owing to the developments in healthcare, multiple public institutions are expected to enhance their laboratory capabilities across the region, boosting the demand for power supply equipment. For example, the final commissioning is underway at the US Army Medical Research Institute of Infectious Diseases (USAMRIID), present at Fort Detrick in Frederick, Maryland. This medical facility is expected to be open for occupancy by 2021. The 835,000 square-foot building is expected to serve as the lead facility for the US Biological Defense Research Program.
Companies and Competitive Landscape
The global medical power supply market is highly competitive with the presence of global companies. Some of the key players which are contributing to the growth of the market include Delta Electronics Group (ROC), Excelsys Technology, Mean Well Enterprises Co. Ltd (ROC), Spellman High Voltage Electronics Corporation, TDK-Lambda Corporation, GlobTek, Advanced Energy Industries, SynQor, Inventus Power, and Astrodyne TDI, Wisman High Voltage Power Supply Co., Ltd, ANEN Enterprise Limited. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance, in March 2020 - Delta Electronics launched MEA-065A, a new 65W output to MEA Series of Medical AC-DC desktop type adapter, which offers four single output voltages of 12V, 15V, 19V, and 24V in an extremely compact size, i.e., 50 x 115 x 29 mm, and finds its application in various types of portable equipment, such as home healthcare equipment, and test and measurement equipment. Key features include 0.1mA low earth leakage and electric shock protection complying with 2 x MOPP.
Advanced Energy Industries Inc
Overview: Advanced Energy Industries is an American company that has devoted decades to perfecting power for its global customers. It designs and manufactures highly engineered, precision power conversion, measurement, and control solutions for mission-critical applications and processes. The company also engages in inorganic strategies like acquisitions to enhance its position in this market. In January 2021, it acquired Versatile Power (US) to add programmable power supplies to its portfolio.
Product Portfolio: The company is focused primarily on semiconductors, flat panel displays, data storage products, industrial coatings, medical devices, solar cells and architectural glass. Its leading position can be attributed to its well-diversified and robust product portfolio with 10,900+ employees.
Key Development: In December 2020, Advanced Energy launched Excelsys CoolX3000 modular, a configurable power platform for a wide range of medical and industrial applications.
Why Purchase the Report?
- Visualize the composition of the medical power supply market segmentation by Type, Technology, Application and Region highlighting the key commercial assets and players.
- Identify commercial opportunities in the medical power supply market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of the medical power supply market-level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global medical power supply market report would provide access to an approx. 61 market data table, 54 figures and 180 pages.
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