Rockville, MD, Feb. 11, 2025 (GLOBE NEWSWIRE) — According to a newly published study by Fact.MR, a market research and competitive intelligence provider, the global medical power supply device market is estimated to reach a size of US$ 1.89 billion in 2024 and further increase at a CAGR of 4.2% between 2024 and 2034.
Healthcare professionals are increasingly choosing devices that allow energy conservation without compromising the performance and dependability of medical equipment. The market for environment-friendly and energy-efficient medical power supply devices is continuously expanding as hospitals and clinics take steps to lower their operating expenses and energy usage.
The integration of IoT into healthcare devices is another factor driving the market growth. This is why data transmission is possible by the steady power supply. IoT devices need to be connected to a power source to receive monitoring signals that are shared with centralized monitoring systems. Therefore, the need for advanced power solutions in the medical industry is increasing.
North America holds a sizable portion of the market. The market in this region is influenced by a number of medical device manufacturers, sophisticated healthcare infrastructure, and large healthcare investments. The adoption of a strong and dependable power supply is further driven by the region’s emphasis on advanced healthcare solutions as well as the rising need for telemedicine and home healthcare.
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Key Takeaways from Market Study:
- The global market for medical power supply devices is forecasted to reach a size of US$ 2.87 billion by 2034-end.
- East Asia is analyzed to lead with a 30.7% global market share in 2024.
- The market in North American region is analyzed to touch a value of US$ 756.36 million by 2034-end.
- Demand for medical power supply devices in South Korea is evaluated to rise at 5.9% CAGR from 2024 to 2034.
- China is estimated to account for 50.3% portion of the East Asian market in 2024.
- By product type, sales of open frame devices are projected to reach US$ 1.07 billion by 2034.
“Prominent medical power supply device manufacturing companies are investing in R&D initiatives to launch advanced solutions, such as portable, more reliable, and energy-efficient devices,” says a Fact.MR analyst
Leading Players Driving Innovation in the Medical Power Supply Device Market
Emerson Electric; Murata Manufacturing; CUI Inc.; XP Power; Powerbox; Mean Well Enterprises; TDK-Lambda; Astrodyne TDI; RECOM Power; Bel Fuse Inc.; Schneider Electric; Phoenix Contact; Delta Electronics.
Demand for Open Frame Devices Continues to be Higher than Other Products
Compared to other product types, open frame medical power supply devices are in great demand due to their versatility, affordability, and small size. Open frame power supply devices are widely found in medical equipment because of their high efficiency and simplicity of integration into compact devices. Their modular design allows for easy customization, making them suitable for several applications, including imaging systems, diagnostic tools, and portable medical devices.
They are typically less expensive than fully enclosed units, open frame power supplies are a popular option for manufacturers seeking to reduce production costs without compromising the dependability and safety of medical devices.
Medical Power Supply Device Industry News:
- In December 2024, Advanced Energy Industries, Inc., a global leader in highly engineered, precise power conversion, measurement, and control systems, unveiled the Excelsys FC4000, a 4 KJ capacitor charging device with an integrated, adjustable 800 W AC-DC power supply designed to power medical laser applications.
- The EIRE300 series is a cutting-edge range of AC/DC power supplies from Vox Power that combines improved dependability and efficiency with a small form factor. It was announced in October 2024.
- The NCF150 series of high-isolation, low-leakage current AC-DC power supplies was introduced in September 2024 by Advanced Energy, a global leader in highly engineered, precision power conversion, measurement, and control solutions, to assist medical equipment designers in meeting the cardiac floating (CF) requirements of the IEC 60601-1 medical safety standard using off-the-shelf products.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the medical power supply device market, presenting historical demand data (2019 to 2023) and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (open frame, enclosed, encapsulated, external), function (AC-DC power supply devices, DC-DC converters), and end user (hospitals, ambulatory surgical centers, clinics, rehabilitation centers, diagnostic centers, home care settings), across seven major regions of the world (North America, Western Europe, Eastern Europe, East Asia, Latin America, South Asia & Pacific, and MEA).
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About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
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