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Medical Power Supply Market Trends – Growing need for healthcare setups.

VANCOUVER, BRITISH COLUMBIA, CANADA, May 2, 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. In addition, governments are establishing modern healthcare facilities in developing countries to meet the needs of the expanding population. Inclined demand for medical power supply, which is expected to expand the market for medical power supply, may result from an increase in the number of healthcare facilities. The market for medical power supplies is expanding as a result of developments in healthcare technology, rising chronic disease rates, and rising demand for portable and home-based devices.

Additionally, most medical power supplies have overcurrent and overvoltage protection, which helps shield medical equipment from harm in the event of a power outage or other electrical fault. Overvoltage protection caps the voltage that can be given, whereas overcurrent protection caps the amount of current that the power source can produce.

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Medical Power Supply market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others.

Leading companies 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

Key Highlights presented in 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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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Medical Power Supply market expected to boost the growth of the industry in the coming years.

Market Segmentation by product type:

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
Major Regions Covered in the Medical Power Supply Market Report:

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

A report on medical power supplies may provide insight into the following major issues:

Which market trends and factors are most important for medical power supplies?

What are the many medical power supply kinds that are offered on the market?

What are some of the main uses for medical power supplies?

What are the main elements influencing the demand for medical power supply in various geographical areas?

What are the various safety requirements that medical power supply must meet?

What are the main characteristics and requirements for medical power supplies?

What are the main difficulties that the producers of medical power supplies face?

What is the market share of the top companies in the medical power supply industry?

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