Medical Power Supply Market worth $1.8 billion by 2025

The medical power supply market is projected to reach USD 1.8 billion by 2025 from USD 1.3 billion in 2020, at a CAGR of 6.9% during the forecast period. Usage of  digital control in medical power supply is a key trend for a medical power supply ecosystem, resulting in the elimination for the risk associated with electric shock thus, it is the key factors supporting the growth of the market.

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The 200W and less segment of  treatment planning systems products to hold major market share by 2025

Based on the converter type, the medical power supply  market is segmented AC-DC power supply and DC-DC power supply. The AC-DC power supply segment is further divided into 200W and less, 201-500W, 501-1000W, 1,000-3,000W and 3000W and above. Among the  AC-DC power supply products, the 200W and less segment held a major share of the market in 2019. The increase in the number of research activities focusing on the development of minimature 200W and less AC-DC power supply units is a key factor encouraging the growth of this segment during the forcast period.

Based on application, the radiation oncology segment is expected to account for the largest share of the medical power supply  market in 2019

Based on application, the medical power supply  market has been segmented into diagnostic imaging systems, patient monitoring equipment, home use and wearable medical equipment, implantable medical devices, dental equipment, surgical equipment, and other medical devices. The diagnostic imaging systems segment is further divided MRI systems, CT scanners, X-ray Systems, Ultrasound Systems, Mammography Systems, PET Systems and other diagnostic imaging systems,  Among these, MRI systems sub-segment dominated the market in 2019. The major share of the segment is attributed to the growing number of MRI machine installation base.

The external power supply segment is expected to register the highest growth rate during the forecast period

Based on architecture, the medical power supply  market has been segmented into the enclosed, open frame, external, U-bracket, configurable, and encapsulated power supply. Significant market growth and large share of  external power supply segment can primarily be attributed  to availabiliy of external AC-DC power in various wall plug-ins and freestanding models or desktop AC-DC power configurations to cater to hospitals, diagnostic laboratories, clinical laboratories, and physician clinics

North America is expected to dominate the global medical power supply  market in 2019

North America, comprising the US and Canada, accounted for the largest share of the medical power supply  market in 2019. Increasing number of  vendors manufacturing medical power supply  and a growing number of approvals for medical power supply  are the major factors driving market growth in North America. Customers in North America are moving towards outsourcing for crubing manufaturing expense, which is increasing demand for medical power supply . This trend will have a positive impact on the medical power supply  market.

Advanced Energy Industries (US), Delta Electronics (Taiwan), TDK-Lambda Corporation (Japan), SL Power Electronics (US), XP Power (Singapore), Spellman High Voltage Electronics Corporation (US), COSEL (Japan), FRIWO Gerätebau (Germany), Bel Fuse (US), MEAN WELL Enterprises (Taiwan), GlobTek (US), Wall Industries (US), SynQor(US), Inventus Power (US), and Astrodyne TDI (US) among others are some of the major players operating in the global medical power supply  market.