Power supply devices, also known as ‘electric power converters,’ are electronic devices that convert one form of electrical energy into another and supply electrical energy to an electric load. Medical power supply devices are used in a wide range of medical applications such as MRI, X-ray, CT and PET scanners, patient monitors, blood analyzers, DNA equipment, dental equipment, and robotic surgical devices. The increase in healthcare expenditure in emerging economies is expected to create new growth opportunities for medical equipment manufacturers, which in turn are expected to augment the growth of the market for medical power supply devices in the near future. Also, wireless medical device manufacturers demand flexibility in terms EMC (Electromagnetic compatibility) and EMI requirements for power supplies in order to cater to the increasing demand from healthcare institutions. Power supply manufacturers are currently 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 on designing and manufacturing medical power supply, which meets specific equipment requirements. Moreover, with the increasing number of players in this industry, existing players are leveraging their technical expertise to introduce newer application-specific products in order to establish their footprint in the highly competitive environment.
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The global medical power supply devices market is segmented on the basis of end-users into hospitals, ambulatory surgical centers, clinics, long-term care centers, rehabilitation centers, diagnostic centers, and home care settings. The hospital end-user segment is estimated to be the most dominant segment in 2015 (in terms of revenue); however, the home care setting segment is expected to expand at the highest CAGR during the forecast period, primarily due to the increasing demand for medical-care at home.
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On the basis of geographic location, the global medical power supply devices market is segmented into North America, Europe, Middle East & Africa, Asia Pacific and Latin America. Among these, Asia-Pacific is estimated to be the largest market in 2015 (in terms of revenue) and is expected to retain its dominance in the medical power supply devices market over the long run.
Key players in the medical power supply devices market include XP Power, CUI Inc., Astrodyne TDI, Artesyn Embedded Technologies (Emerson Network Power), TDK-Lambda, SL Power Electronics, Delta Electronics, Inc., GlobTek, Inc., and Powerbox International AB. Currently, the medical power supply devices manufacturers are focusing on creating smaller, efficient, and reliable medical power supply devices that could be offered at a competitive price. Besides, omnichannel distribution is a key go-to-market strategy adopted by most of the leading players in this market currently.
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