Enclosed Power Supplies Segment to Dominate the Medical Power Supply Market During the Forecast Period
The global medical power supply market is projected to reach USD 1,218.6 million by 2022 from USD 885.3 million in 2017, at a CAGR of 6.6% during the forecast period. The market growth can be attributed to a growth in funding and infrastructure development, advancements in medical power supply products, and rising trend of home healthcare.
Based on application, the global medical power supply market is divided into diagnostic & monitoring equipment, home medical equipment, dental equipment, and surgical equipment. In 2017, diagnostic & monitoring equipment is expected to hold largest share of the global medical power supply market, in terms of value market. Increasing public-private funding for the installment of diagnostic imaging equipment is expected to drive the market for power supplies used in this application segment.
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In 2016, in terms of value, North America is expected to account for the largest share of the global medical power supply market, followed by Asia, Europe, and RoW. In terms of volume and value market, the Asia region is expected to register the highest growth rate from 2017 to 2022. Presence of a large number of market players and increasing installations of medical equipment are the major factors fueling the growth of the medical power supply market in the Asian region.
Major Leading Players:
The key players in the medical power supply market are CUI, Inc. (U.S.), XP Power (Singapore), Spellman High Voltage Electronics Corporation (U.S.), Delta, Electronics (Taiwan), and Astrodyne TDI Power Supplies & EMI Filters (U.S.).