Power supply manufacturers are focusing on developing compact-sized and energy-efficient medical power supplies for wireless test and measurement equipment for medical applications. Increasing demand for wireless medical devices/equipment is anticipated to result in increased spending by manufacturers for designing and manufacturing medical power supply which meet specific equipment requirements. These are some of the findings of the latest and comprehensive report being released by Persistence Market Research which is titled as ‘Medical Power Supply Devices Market: Global Industry Analysis and Forecast 2017 – 2022’. Besides this, this report on global medical power supply devices market has detailed information on the market dynamics that are affecting the growth prospects of this market. These market dynamics are in the form of drivers, restraints, opportunities and trends that are operating in the global medical power supply devices market and have been comprehensively explained in this research report. As per the information available in this report, the global medical power supply devices market was valued at US$ 1288.7 Mn in 2017 and is expected to reach a valuation of US$ 1613.9 Mn in 2022 end, reflecting a CAGR of 4.6% during the forecast period of 2017-2022.
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Global Medical Power Supply Devices Market: Dynamics
Increased demand for medical-care at home is driving the global medical power supply devices market currently. In fact, the market has seen traction in the sale of home healthcare devices, including those used for patient monitoring, therapeutic, and surgical applications. Chronic kidney diseases and kidney dialysis are more suited for home care where the treatment can be performed over a longer duration. Also, increasing cost of healthcare services and hospital stays, coupled with shortage of nurses and other healthcare personnel, is leading to increasing adoption of home healthcare services by patients. This, in turn, is boosting the global medical power supply devices market.
However, increased health care cost and growing financial burdens have led to patients becoming more value conscious, which in turn has resulted in decrease in the high-cost quality equipment buying capability of hospitals and health care clinics. This has led to an increase in demand for cost effective medical power supply devices from medical equipment manufacturers, especially in the emerging regions. Therefore, in order to retain their market share, majority of the leading medical power supply device manufacturers are reducing the price of their power supply products. With increasing competition, the trend is expected to continue during the forecast period as well. This is also decreasing the overall profitability of medical power supply manufacturers. These factors are likely to hamper the growth of the global medical power supply devices market.
Global Medical Power Supply Devices Market: Segmentation and Forecast
The global medical power supply devices market is segmented on the basis of product type, by function, by end-user and by region.
- In terms of value, standard medical power supply devices segment is expected to register a CAGR of 3.5% over the forecast period and is likely to reach a valuation of US$ 964.6 Mn by 2022.
- The AC-DC power supply devices segment is expected to register a CAGR of 4.9% over the forecast period and is expected to be valued at US$ 1,073.3 Mn by 2022.
- Hospitals segment has been estimated to account for nearly 77 percent share of the global medical power supply devices market value in 2017, and is expected to retain its dominance in the market throughout the forecast period.
- Asia Pacific medical power supply devices market has been estimated to account for nearly 40 percent share of the global medical power supply devices market value in 2017, and is expected to retain its dominance throughout the forecast period.
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Global Medical Power Supply Devices Market: Competition Landscape
In this comprehensive report on the global medical power supply devices market, the main companies that are operating in this market have been profiled in the competition landscape section of this report. Some of the companies that have been profiled in this report include SL Power Electronics, TDK Lambda Corporation, GlobTek, Inc., Astrodyne TDI, Delta Electronics, Inc., Artesyn Embedded Technologies (Emerson Network Power) and Powerbox International AB.