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Power supplies are electrical equipment, which modify the form of a source of power into a sought after form to certify compatibility with equipment being used. These devices are used in a wide range of medical applications such as blood analyzers, X-ray, MRI, patient monitors, robotic surgical devices & dental equipment, and CT & PET scanners. Generally, power supply devices can be standalone or discrete. In certain cases, these are integrated into larger equipment and devices as per requirements. However, selection of power supplies and specification for precise medical applications by health care institutions are the key tasks that need to be performed efficiently. Some of the barriers to perform these are regular changes in environmental standards and safety regulations for medical equipment.

Increase in global geriatric population drives demand for medical device and biotechnology products. Elder persons require more primary medical care and support. This has led to rise in demand for disposable supplies, medical devices, and other monitoring and patient treatment devices. Rapid increase in geriatric population is a major concern across the globe. For instance, the geriatric population in Europe is anticipated to increase from 14.2 million to 19.3 million by 2020, and is estimated to reach 40.5 million by 2050. Additionally, the World Health Organization’s 2016 report findings suggest that the geriatric population is estimated to account for approximately 22% of the global population.

The global medical power supply market is projected to grow at a rapid pace in the next few years. Increase in prevalence of chronic diseases and conditions such as stroke, arthritis, cancers, obesity, and heart diseases drives the market. Rapid adoption of diagnostic systems, display devices, and equipment in diagnostic centers and hospitals is another major factor propelling the market. Additionally, increase in demand for effective power supply for dialysis equipment and ECG (electrocardiogram) augments the global medical power supply market. However, rise in cost of devices and lack of reimbursement policies in developing countries are expected to hamper the growth of the global medical power supply market.

The global medical power supply market can be segmented into type of current, construction, and application. In terms of type of current, the market can be bifurcated into DC-DC power supply and AC-DC power supply. Based on construction, the global medical power supply market can be classified into U-bracket power supplies, encapsulated power supplies, configurable power supplies, open frame power supplies, enclosed power supplies, and external power supplies. In terms of application, the market can be divided into home medical equipment, dental equipment, surgical equipment, and diagnostic & monitoring equipment.

Geographically, the global medical power supply market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific and North America are projected to dominate the market during the forecast period. North America’s dominance of the market is attributed to favorable reimbursement scenario, acceptance of new advanced techniques, and technologically advanced health care system. Growth of the market in Asia Pacific is likely to be driven by emerging economies such as India, China, Singapore, Taiwan, and South Korea. Presence of key players, rise in investments in R&D by large pharma players, collaborations of medical power supply companies with research institutes are factors driving the global medical power supply market.

Major players in the global medical power supply market are ICCNexergy, Mean Well Enterprises Co. Ltd., SL Power Electronics, Astrodyne Corporation, Wall Industries, Inc., TDK Lambda, XP Power, FRIWO Geratebau GmbH, Delta Electronics, Inc., Excelsys Technology, Emerson Network Power, Powerbox, CUI, Inc., Glob Tek, Inc., and SynQor, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Medical Power Supply Market

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