Medical Power Supply Devices Market – By Technology [AC-DC & DC-DC Power Supply), by Application (MRI, X-ray, CT, Ultrasound, EEG, ECG, Blood Pressure Monitor, Ventilator, PAP, VAD), by Type (External, Enclosed, Configurable, Encapsulated) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Medical Power Supply Devices Market held USD 925.7 million in 2020 and is to grow with a CAGR of 5.7% from 2020-2030. Mostly the medical power supply devices are used by the patients who is suffering from BP, sugar, heart problems and many more. Using these devices, the patients can monitor themselves while sitting at home rather than going to the hospitals. The demand of these devices rises, due to factors such as rising cost of health care services and hospital stays.

Market Dynamics and Factors:

The main drivers for global medical power supply devices market growth are the increasing prevalence of growing life expectancy rate globally. Increased demand for home health care services, as it helps save 20 to 50% of the total cost compared to usual hospital care, depending on the service provided. Interconnectivity through devices and portability of medications and devices enable critical care at home.

Medical power supply devices market is also witnessing demand since the patient can quickly relax in the comfortable and familiar environment of the house and not in the hospital environment. The demand for home health care is also increasing due to factors such as rising costs of medical care and hospitalization, and the lack of nurses and other medical personnel. Home health care is gaining importance as the number of older people increases and they want better social positioning options, such as home health care. As at first glance it seems very expensive, it shows the social status of people. These factors help increase the demand for medical energy supplies. Advanced medical power supplies allow doctors to better diagnose and treat patients, which in turn increases patient confidence. Technological developments in medical diagnostic systems such as magnetic resonance imaging (MRI) and X-ray devices are the nose and treatment of patients, leading to the need for improved medical power delivery devices with greater properties switching.

Market Segmentation:

Based on the technology, the global medical power supply devices market size is segmented into AC-DC and DC-DC. Based on application, the medical power supply devices include MRI, X-ray, Blood Pressure Monitor, CT, Ultrasound, ECG, EEG, Ventilator, PAP, VAD. On the basis of type, market segmentation includes external, enclosed, configurable and encapsulated. Geographical breakdown and analysis of each of the aforementioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

North America is expected to be the largest medical power supply devices market tailed by Europe. The Asia-Pacific medical power supply devices market demand is projected to grow steadily due to the increasing prevalence of chronic diseases. Medical power supply technology plays a very important role in disease development. Increasing healthcare infrastructure with advanced equipment and higher spending on healthcare by patients. Growth in medical tourism in Canada and the United States is anticipated to drive market growth. Increasing spurt in coronavirus cases has also increased need for medical power supply devices such as BP monitor and oxygen level monitor. For example, most of the recent Covid 19 cases are in the US, but few in other countries. Speedy growth in covid cases is anticipated to spur medical power supply devices market in North American region.

Competitive Scenario:

Global medical power supply devices market share, is experiencing fierce competition due to presence of established manufacturers. In terms of market share, certain players constitute large share of market. Key players enhancing the global medical power supply devices market size include Powerbox International AB, ICCNexergy, FRIWO Geratebau GmbH, Delta Electronics, Inc., Excelsys Technology, GlobTek, Inc., Astrodyne TDI, TDK Lambda Corporation, SL Power Electronics, and Artesyn Embedded Technologies.

Medical Power Supply Devices Market Report Scope