Medical Power Supply Devices Market Global Industry Analysis

Medical Power Supply Devices Market – An Introduction

Medical power supply devices are those devices or electronic/medical equipment that changes the form of the 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 different range of medical applications such as MRI, X-ray, CT and PET scanners, patient monitors, blood analyzers, dental equipment, DNA equipment, robotic surgical devices etc. The medical power supply industry dates back to the early 20th century when medical power supply devices were first developed to serve medical institutions, hospital and other healthcare centers.

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Over the past few decades, tremendous development in electronics, micro and Nano-fabrication and wireless technology has greatly enhanced the quality and efficacy of healthcare as well as life science research. These innovations had led to the development of medical grade power supplies that are playing a vital role in crucial applications in the medical sector. Some of the key medical applications that require reliable medical power supplies include-

  • Imaging
  • Diagnosis and Analysis
  • Patient Monitoring
  • Medical Devices
  • Desktop power supplies, medical pumps etc.

Medical equipment as such is more sensitive to Electromagnetic Interference (EMI) when compared to industrial equipment. Therefore, for the manufacturers of medical power supply devices it is necessary to manufacture devices that have electromagnetic compatibility (EMC), low leakage of current and those that are subjected to certain standard and tests. Non-compliance to these standards and tests could result in safety problems especially to the end users (patients) as well manufacturers in terms of lawsuits.

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Global Medical Power Supply Market Forecast – An overview

The global medical power supply devices market is estimated at $825.12 million in 2015, that is poised to reach $1100 million by 2020, and as per a medical power supply market outlook is growing at a CAGR of 5.92%. Factors that can be attributed to the growth of global medical power supply market can be associated with higher healthcare costs, increase in aging population, enhancement in government healthcare spending and healthcare facilities. The rise in usage of medical power supply devices can also be linked to technological developments and innovations in the field of medical science and technology.

The manufacturers of medical power supply are constantly making their efforts to develop high efficient and digitalized power supplies for better results. A growing trend of personalized medical treatment is fueling the growth of the medical power supply market.

There is also growing awareness among the people related to portable medical equipment, which is helping the rise of medical power supply market share. Patient safety is critical when it comes to medical equipment therefore medical power supply equipment manufacturers are engaged in manufacturing devices that involve powering the equipment or device with precision manufactured power converters that work within controlled design criteria along with high reliability.

The medical power supply devices are also known as ‘electric power converters’ as they convert one form of electrical energy into another and supply electrical energy to an electric load. As of now, the global medical power supply devices market is driven by rapid growth in the diagnostic equipment segment due to the rising incidences of chronic diseases among patients especially in developing economies. As such, it is resulting in promoting the adoption of Type CF (Cardiac Floating) equipment where in the applied part is in direct conducive contact with the concerned patient’s heart.

Segmentation of global medical power supply market – a Summary

The global medical power supply devices market is divided or categorized into five segments taking into account the medical power supply market industry size.  The First segment is by Technology such as AC-DC power supply, DC-DC power supply. The Second Segment is aptly divided into Types of medical power supply used such as Enclosed, Configurable, External, Encapsulated, and Open Frame etc.  The Third segment is based on Application such as diagnostic equipment, MRI, CT, PET, EEG, PAP Devices, Blood Pressure Monitors, Anesthesia Monitors and others. The Fourth segment is categorized under End Users such as Hospitals, Rehabilitation Centers, Diagnostic Centers, and Homecare Settings etc. The Fifth segmented is divided under geographical regions into North America, Europe, Middle East, Africa, Asia-Pacific and Latin America.

Geographically, North America dominates the global medical power supply market share even though in the coming decades, the Asia-Pacific region would experience a high growth rate in the global medical supply devices market.

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