The Latin America Medical Power Supply Devices Market is currently estimated to be a $66.01 million in 2015 and is expected to reach $91.94 Million by the end of 2020, growing at a rate of 6.85%. A medical power supply devices are referred to the electrical equipment for medical purposes used in reactors and instance transformers that are used to supply power for various medical devices.
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Market for medical Power Supply devices is growing at a significant rate due to factors like increasing popularity for powered devices in healthcare sector, increase in the aging population and enhancement of facilities in healthcare. Popularity gained by the powered medical devices is attributed to their user-friendly nature and rise in efficiency offered by the power supply devices in a medical procedure. And also, technological developments and new innovations in the field and initiation from government to rise the usage of medical devices have also helped in growing the medical power supply devices market. Rise in digitally controlled and high efficiency power supply devices, developments in medical device technology, growing opportunities in developing economies, portable medical devices and increase in frequency of occurrence of lifestyle diseases are the driving forces for the market. However, stringent regulations and certification bodies, downturn in many major economies and the high cost that are associated with these medical devices are the few factors restraining the growth of market for medical power supply devices.
The Latin America medical power supply market is segmented into three categories – by application, by type, and by technology. Based on technology, the market is again segmented into AC-DC power supply and DC-DC power supply. The market by type is divided into open frame, encapsulated, enclosed, external, and configurable. Based on application it is segmented into diagnostic equipment, medical monitoring equipment, home patient care equipment, dental equipment and surgical equipment.
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The external medical power supply market is estimated to be highest growing segment because of the increased usage of portable, compact medical devices, which requires an increased employment of external medical power supply. The growth in home healthcare market comprising of portable, smaller and convenience of using medical devices is another factor helping the growth of market for external power supply.
Furthermore, on the basis of geography, the Latin America Market is analysed under various regions namely, Argentina, Brazil, Mexico and Rest of Latin America.
Recently the companies of medical power supply device market are involved in R&D division for more ground-breaking products with enhanced efficiency. Some of the major companies operating in the medical power supply devices market are TDK Lambda, ICCNexergy, SL Power Electronics, Powerbox, Emerson Network Power, Astrodyne Corporation, Mean Well Enterprises Co., Delta Electronics, Inc., Ltd and Excelsys Technology.
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