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Rising demand for home-use healthcare products is a major factor driving revenue growth

VANCOUVER, BC, CANADA, January 3, 2023 /EINPresswire.com/ -- The global medical power supply market size reached USD 1.43 Billion in 2021 and is expected to register a revenue CAGR of 6.5% during the forecast period, according to latest analysis by Emergen Research. One of the main factors driving revenue growth is the capacity of these devices to lower the risk of electric shocks and current leakage while lowering electromagnetic interference. Medical power supply systems include enclosed, open frame, external, reconfigurable, U-bracket, and encapsulated devices. They use improved insulating materials as well as Alternate Current-Direct Current (AC-DC) and DC-DC power supplies. They are consequently commonly used in research facilities, medical facilities, clinics, and diagnostic facilities, which raises market revenue. Revenue growth is being driven by rising issues over patient safety in medical equipment. The adoption rate is significantly rising as more research is being carried out to make the power supply for medical equipment safe, economical, and user-friendly. 

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Some Key Highlights from the Report
The enclosed power supplies segment is accounted for the largest market revenue share in 2021. The enhanced protection against external electromagnetic interference is the factor responsible for the segment's rapid expansion. An enclosed power source can be shielded to protect it from electromagnetic interference and prevent it from interfering with nearby electrical equipment.

Diagnostic and monitoring equipment accounted for the largest revenue share in 2021. The segment's revenue growth is primarily driven by the growing adoption of enclosed power supplies in a variety of diagnostic and monitoring medical devices.

The hospitals accounted for the largest revenue share in 2021. The segment's growth is mostly driven by an increase in the number of patients on the planet as a result of cases of lung cancer, cystic fibrosis, TB, sarcoidosis, influenza, and other diseases. A persistent cough, an infection, or an unexpected finding on a chest X-ray or other test are typical reasons why a medical power supply is necessary.

North America accounted for the largest revenue share in 2021. Global demand for diagnostic and monitoring equipment is rising as a result of further government activities to diagnose infectious diseases and the rising demand for rapid disease detection. Governments are actively funding multiple research projects, such as those for the early detection of infectious diseases. Given the widespread adoption of cutting-edge medical devices in the healthcare industry and the growing need to raise the standard of healthcare services, the countries in the region are expected to dominate the global market throughout the forecast period. Taking into consideration the advancements in healthcare, several public institutions are expected to expand their lab capacities throughout the region, which will incline demand for power supply equipment.

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Major Players/Manufacturers profiled in the report are:

Delta Electronics Inc., TDK-Lambda Corporation, SL Power Electronics Corp, XP Power, Spellman High Voltage Electronics Corporation, COSEL Co. Ltd., FRIWO Gerätebau GmbH, Bel Fuse Inc., MEAN WELL Enterprises Co., Ltd., Wall Industries Inc., SynQor Inc.

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Global Medical Power Supply Market Report - Segmental Analysis:

Type Outlook (Revenue, USD Billion; 2019-2030)
Enclosed Power Supplies

Open Frame Power Supplies

External Power Supplies

Others

Application Outlook (Revenue, USD Billion; 2019-2030)
Diagnostic and Monitoring Equipment

Home Medical Equipment

Surgical Equipment

Others

more

Key Geographies Profiled in the Report:

North America(the U.S., Mexico, and Canada)

Asia Pacific(China, Japan, India, and Rest of Asia Pacific)

Europe(the U.K., France, Germany, and Rest of Europe)

Latin America(Brazil and Rest of Latin America)

Middle East & Africa(GCC Countries and Rest of Middle East & Africa)

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Key Benefits For Stakeholders:

The report provides an extensive analysis of the current and future trends in the global minimally invasive surgical systems market to elucidate the imminent investment pockets.

A detailed analysis of the factors that drive and restrict the growth of the minimally invasive surgical systems market is provided.

Extensive analysis of key segments demonstrates the types of energy devices, access equipment, and visualization & documentation systems used in minimally invasive surgeries.

A comprehensive analysis of the geographical landscape provides detailed information about various regions across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report offers a competitive landscape of the minimally invasive surgical systems market to assist players to gain insights into the competition scenario. Key companies operating in the market are profiled to provide valuable insights.

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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Medical Power Supply Market Size Worth USD 2.52 Billion in 2030