The growth of this market is mainly driven by the growing number of PSUs vendors across major markets, increasing adoption of homehealthcare devices. Moreover, rising R&D investments by the key players operating in the market to develop advanced medical power supply coupled with growing funding & grants for commercialization and development of medical power supply are other important factors to drive the market growth in the near future.

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.

Medical Power Supply Market

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.

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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.

The major players in the medical power supply market are 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.

Advanced Energy Industries (US) has a wide range of product offerings in the medical power supply market, including low voltage AC-DC medical power supply, low voltage DC-Dc medical power supply, high voltage AC-DC power Supply and High voltage DC-DC power supply. The company sustains its key position in the global medical power supply s market owing to its multiple strategic acquistion Advanced Energy Industries has a strong product portfolio, supporting around medical OEMs worldwide.The company is focused on innovations and improving the quality of its products with increasing investment in its R&D department.

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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.

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