Apr 09, 2020
The need for well-equipped medical facilities is expanding globally due to an increase in chronic and infectious diseases, like COVID-19, along with a growing elderly population. Healthcare technologies are evolving in tandem, such as monitoring data, registering patients, and tracking lab tests. There’s also been an increase in demand for portable devices that are used for in-home care. As a result, the rise in healthcare equipment and portable medical devices will increase the demand for more medical-grade power supplies.
In 2018, the global medical-grade power supply market was valued at around $961M, and it’s expected to reach approximately $1,459M by 2025, at a CAGR of around 6.1% between 2019 and 2025. The end-users segment this market for ambulatory surgical centers, clinics, diagnostic centers, home-care settings, hospitals, long-term care centers, and rehabilitation centers. In 2015, the most dominant end-user segment was the hospital one. However, this year the home-care setting segment is expected to be the highest due to the increasing demand for medical care at home. Overall, the rising demand for medical devices that are cheaper, lighter, and smaller is driving the market growth. 
Power Supply for Medical Equipment
The medical power supply market is divided by construction, current type, power range, and medical application. The construction type for power supplies includes: configurable, enclosed, external, open frame, u-bracket, and encapsulated. Recently, the need for external power supply construction has increased due to a higher demand for portable medical devices.
In terms of current, there are two different types: AC-DC and DC-DC power supplies. The AC-DC has the largest market share due to its low energy intake, lower leakages, and superior efficacy. As for power supply ranges, there are several to select from 200w and below, 201w to 1000w, 1001w to 3000w, and 3001W and above. There are also many different types of medical applications for power supplies, such as the following:
Most importantly, medical power supplies are specially designed with high levels of electrical isolation, improved insulations, and very tight leakage specifications. All these are designed into the medical power supplies to meet the medical equipment safety standard IEC 60601 with patient protection (MOPP).
Global Medical-Grade Power Supply
This year, North America is projected to attain a major share in the global medical power supply market. This change can be attributed to new healthcare amenities, particularly in hospitals and diagnostic imaging centers, the growing number of assured entities, and the rising demand for medical devices. Europe accounts for a large percentage of the global market due to the rising number of government provisions related to the power supply, increasing expenditure for improved healthcare infrastructure, more leading medical device companies, and increasing medical equipment installations.
Currently, about two-thirds of the world’s elderly population lives in developing countries. This has led to an increase in more healthcare facilities all over the world. As a result, governments are taking initiatives to establish new and advanced facilities in developing countries to cater to the requirements of this growing population. Asia is estimated to accomplish a substantial market share. The Chinese medical power supply market is expected to register extensive growth in the future, owing to the growing private and public healthcare spending, increasing healthcare budget, and the rising number of diseases. The growing aged population in this region is also a top contributor to this market growth.
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