Medical Power Supply Holds Huge Potential in Digitalizing Medical Equipment. North America to Witness the Highest Growth.
- Himanshu Patni
- November 17, 2021
- HEALTHCARE, NEWS
- Medical Power Supply market, Medical Power Supply market growth, Medical Power Supply market share, Medical Power Supply market size, Medical Power Supply market trend
- 0 Comments
Medical Power Supply market is expected to exceed the market valuation of more than US$ ~2 billion by 2027 expanding at a reasonable CAGR of around ~7% during the forecast period (2021-2027). Medical Power Supplies are designed according to certain standards, each device must operate according to its specific standards needed to protect the patients and operators from electrocution. Medical power supplied are categorized into one of three applied parts like body type (B), body floating type (BF), and cardiac floating type (CF). These applied parts determine the isolation voltage, creepage and leakage current required and in what amounts. Regardless of classification, medical devices may not exceed 500uA leakage current, or 300uA for UL approval. Double insulation is a two-level system with basic plus supplementary insulation, where supplementary insulation provides a second level of protection by adding a layer of insulating material with a minimum of 0.4mm thickness. Protective earth (PE) is an equipment grounding conductor that keeps the exposed conductive surfaces of a device to earth by not having current flow into it. All medical power supplies must include at least one Means of Protection (MOP) in order to prevent patients and operators from electrocution. A MOP includes safety insulation, protective earth, creepage, and protective insulation. There are different requirements for Means of Patient Protection (MOPP) and Means of Operator Protection (MOOP).
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Portable/integrated instrument adoption and recent advancements in product design and architecture are supported by developments in adjacent industries, such as semiconductor chips and integrated circuits. Such devices have witnessed rapid installation due to their advantages, improved power factor correction, better thermal management, and reduced audible noise. The availability of funding and support to develop portable medical devices has also driven overall research activity in this sector. These factors have favored the adoption of medical power solutions since the growth of this market is directly tied to instrument use. For example, in November 2019, Schwarzer Cardiotek GmbH (Germany) was awarded an R&D grant by the Zentrale Innovationsprogramm Mittelstand (ZIM) and Schwarzer Cardiotek intends to integrate its electrophysiology recording platform EP-TRACER with Livetec’s ablation system, LiveCath. In 2018, Cambridge Medical Robotics (UK) raised USD 100 million to prepare its Versius system (a portable robot for laparoscopic applications) for planned commercialization.
The number of patients and medical care increased dramatically all over the globe during the coronavirus pandemic. The key reason was the increasing demand for oxygen. The need for oxygen cylinders increased to 1.1 million cylinders in low- and middle-income countries alone. During the start of the pandemic, the first phase approach of WHO was to scale up oxygen supply in the most vulnerable countries by procuring and distributing oxygen concentrators and pulse oximeters. As of February 2021, over 30,000 concentrators and 40,000 pulse oximeters and patient monitors were distributed by WHO alone in over 121 countries, 37 of which were classified as fragile. Increased patient pool in hospitals and home care increased the use of medical power supplies staggeringly during the pandemic years. In New York alone there were 109,192 hospitalizations due to Covid-19 as of June 2021.
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Based on Current Type, the Medical Power Supply Market is segmented into AC-DC Power Supply and DC-DC Power Supply. Amongst Current Type, the AC-DC Power Supply segment of the market was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. AC/DC power supply series feature reinforced isolation with two means of patient protection (2 x MOPP), low leakage (BF and CF ratings) and >8 mm creepage and clearance distances. Additionally, reinforced isolation provides an additional level of safety beyond the standard functional isolation to comply with the medical safety standard ES/IEC/EN 60601-1 3rd Ed.
Based on Type, the Medical Power Supply Market is segmented into Enclosed, External, Open Frame, Configurable, and Encapsulated. Enclosed segment accounted for a market valuation of US$ XX billion in 2020 and is expected to reach US$ XX billion by the year 2027, at a CAGR of XX% over the analyzed period. Enclosed medical power supplies are incased in strong metal casing. Medical enclosed power supplies can be used in a wide variety of equipment for medical and industrial application. This segments large share is attributed to technological advancements which lead to compact enclosed power supplies which offer higher efficiency and low leakage current, due to which their use has grown.
For a detailed analysis of the Current Type in the Medical Power Supply Market browse through – https://univdatos.com/report/medical-power-supply-market/
Based on Application, the Medical Power Supply market is segmented into Medical Monitoring Equipment, Diagnostic Equipment, Dental Equipment, Home Patient Care Equipment, and Surgical Equipment. Amongst Application, the Medical Monitoring Equipment segment of the market was valued at US$ XX billion in 2020 and is likely to reach US$ XX billion by 2027 growing at a CAGR of XX% from 2021-2027. Medical equipment is powered from AC mains or increasingly from an internal battery. They are highly protected against electric shock and domestic, industrial, commercial, IT and medical grade AC/DC power supplies are available in a common form factor, for economy in manufacturing.
Additionally, the report provides detailed initiatives that are being taken in the field of Medical Power Supply in India. The report provides a detailed analysis of regions including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific), Rest of World. North America dominated the market in 2020, with XX% share.
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Delta Electronics Inc., CUI Inc. (Bel Fuse Inc.), Advanced Energy Industries Inc., Globtek Inc., Mean Well Enterprises Co. Ltd., Powerbox International AB, SL Industries Inc., Spellman High Voltage Electronics Corporation, TDK-Lambda Corporation, and XP Power are some of the prominent players operating in the Medical Power Supply market. Several M&As along with partnerships have been undertaken by these players to make Medical Power Supply as cost-effective and as widely available as possible.
Medical Power Supply Market Segmentation
Market Insight, by Current Type
- AC-DC Power Supply
- DC-DC Power Supply
Market Insight, by Type
- Open Frame
Market Insight, by Application
- Medical Monitoring Equipment
- Diagnostic Equipment
- Dental Equipment
- Home Patient Care Equipment
- Surgical Equipment
Market Insight, by Region
- NORTH AMERICA MEDICAL POWER SUPPLY
- United States
- Rest of North America
- EUROPE MEDICAL POWER SUPPLY
- United Kingdom
- Rest of Europe
- ASIA-PACIFIC MEDICAL POWER SUPPLY
- Rest of Asia-Pacific
- REST OF THE WORLD MEDICAL POWER SUPPLY
Top Company Profiles
- Delta Electronics Inc.
- CUI Inc. (Bel Fuse Inc.)
- Advanced Energy Industries Inc.
- Globtek Inc.
- Mean Well Enterprises Co. Ltd
- Powerbox International AB
- SL Industries Inc.
- Spellman High Voltage Electronics Corporation
- TDK-Lambda Corporation
- XP Power