According to the new market research report “Medical Power Supply Market by Converter Type (AC-DC, DC-DC), Application (MRI, ECG, EEG, PET, CT Scan, Ultrasound, X-ray, MEG, Mammography, Ablation, Dental), Construction (Enclosed, External, Encapsulated), Type (Standard) - Global Forecast to 2025″, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).

The medical power supply market is projected to reach USD 1.8 billion by 2025 from USD 1.3 billion in 2020, at a CAGR of 6.9% during the forecast period.

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The major factors driving the growth of this market can be attributed to the growth in funding and infrastructure development, advancements in medical power supply products, and rising trend of home healthcare.

While product launch and enhancements remain at the center of the strategic growth initiatives pursued by a majority of the key players in the global medical power supply market, players are also focusing on increasing their presence in the high-growth markets through agreements, expansions, and acquisitions. XP Power (Singapore), Spellman High Voltage Electronics Corporation (U.S.), Powerbox International AB (Sweden), Meanwell Enterprises (Taiwan), Handy and Harman (U.S.), Globtek (U.S.), FRIWO Gerätebau (Germany), Delta Electronics (Taiwan), and Astrodyne TDI Power Supplies and EMI Filters (U.S.) are focusing on new product launches and enhancements to enhance their market presence.

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The base year considered for the study is 2020 and the forecast for the medical power supply market size is provided for the period between 2021 and 2025. In the current market scenario, there is a growing demand for power supply for medical devices. The objective of this report is to define, describe, and forecast the market based on current type, construction, application, power ranges, and region. It provides detailed information regarding the major factors influencing the growth of the market. This report also tracks and analyzes competitive developments of the key players in terms of market developments, product portfolios, and financials.

The 200W and less segment of treatment planning systems products to hold major market share by 2025

Based on the converter type, the medical power supply market is segmented AC-DC power supply and DC-DC power supply. The AC-DC power supply segment is further divided into 200W and less, 201-500W, 501-1000W, 1,000-3,000W and 3000W and above. Among the AC-DC power supply products, the 200W and less segment held a major share of the market in 2019. The increase in the number of research activities focusing on the development of minimature 200W and less AC-DC power supply units is a key factor encouraging the growth of this segment during the forcast period.

Based on application, the radiation oncology segment is expected to account for the largest share of the medical power supply market in 2019

Based on application, the medical power supply market has been segmented into diagnostic imaging systems, patient monitoring equipment, home use and wearable medical equipment, implantable medical devices, dental equipment, surgical equipment, and other medical devices. The diagnostic imaging systems segment is further divided MRI systems, CT scanners, X-ray Systems, Ultrasound Systems, Mammography Systems, PET Systems and other diagnostic imaging systems, Among these, MRI systems sub-segment dominated the market in 2019. The major share of the segment is attributed to the growing number of MRI machine installation base.

The external power supply segment is expected to register the highest growth rate during the forecast period

Based on architecture, the medical power supply market has been segmented into the enclosed, open frame, external, U-bracket, configurable, and encapsulated power supply. Significant market growth and large share of external power supply segment can primarily be attributed to availabiliy of external AC-DC power in various wall plug-ins and freestanding models or desktop AC-DC power configurations to cater to hospitals, diagnostic laboratories, clinical laboratories, and physician clinics

North America is expected to dominate the global medical power supply market in 2019

North America, comprising the US and Canada, accounted for the largest share of the medical power supply market in 2019. Increasing number of vendors manufacturing medical power supply and a growing number of approvals for medical power supply are the major factors driving market growth in North America. Customers in North America are moving towards outsourcing for crubing manufaturing expense, which is increasing demand for medical power supply . This trend will have a positive impact on the medical power supply market.

In this report, the global medical power supply market is segmented based on current type, construction, application, power range, and region. Based on current type, the global market is segmented into AC-DC power supply and DC-DC power supply. In 2017, AC-DC power supply is expected to account for the largest share of the global market, in terms of value market. The advantages of AC-DC over DC-DC power supply, such as low energy consumption, low risk of current leakage, and greater efficiency, are driving the growth of the AC-DC power supply market.

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