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PUNE, India, August 8, 2017 /PRNewswire/ --
According to a new market research report "Medical Power Supply Market by Current Type (AC-DC Power Supply), Application (Monitoring Equipment (MRI, ECG, EEG, PET, Multiparameter Monitor, Ultrasound, X-ray, MEG), Construction (Enclosed, External), Power Ranges (200w) - Global Forecast to 2022", published by MarketsandMarkets™, the Global Medical Power Supply Market is expected to reach USD 1,218.6 Million by 2022 from USD 885.3 Million in 2017, at a CAGR of 6.6% from 2017 to 2022.
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Browse 145 Market Data Tables and 30 Figures spread through 167 Pages and in-depth TOC on "Medical Power Supply Market"
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The major factors driving the growth of this market can be attributed to the growth in funding and infrastructure development, advancements in medical power supply products, and rising trend of home healthcare. The high growth in developing countries across Asia and Latin America are expected to provide significant growth opportunities for players operating in the Medical Power Supply Market in the coming years.
AC-DC Power Supply to hold the largest market share during the forecast period
Based on current type, the Medical Power Supply Market is segmented into AC-DC power supply and DC-DC power supply. In 2016, the AC-DC power supply accounted for the largest share of the market. The advantages of AC-DC over DC-DC power supply, such as low energy consumption, low risk of current leakage, and greater efficiency are supporting the growth of the AC-DC power supply market.
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Home Medical Equipment segment to grow at the highest CAGR during the forecast period
On the basis of application, the market is classified into diagnostic & monitoring equipment, home medical equipment, dental equipment, and surgical equipment. The home medical equipment segment is expected to grow at the highest CAGR during the forecast period. The increasing adoption of portable devices due to their ease of use and cost-efficiency are driving market growth in this segment.
North America dominated the Medical Power Supply Market in 2016
In 2016, North America accounted for the largest share of the global Medical Power Supply Market, followed by, Asia, Europe, and RoW. This growth can be attributed to the strong base of healthcare facilities, especially hospitals and diagnostic imaging centers.
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XP Power (Singapore), Spellman High Voltage Electronics Corporation (U.S.), Powerbox International AB (Sweden), Delta Electronics (Taiwan), and Astrodyne TDI Power Supplies and EMI Filters (U.S.) are the key players in the Medical Power Supply Market between 2017 and 2022. Other major players operating in this market are Meanwell Enterprises (Taiwan), Handy and Harman (U.S.), Globtek (U.S.), FRIWO Gerätebau (Germany), Inventus Power (U.S.), Wall Industries (U.S.), SynQor (U.S.), Protek Power N.A., (U.S.)
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