Medical Power Supply Devices

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Market Overview

• Power supply devices, in general, are electronic
  or electric equipment, which changes power source
  into the desired form to ensure compatibility
  with the equipment being used. Medical power
  supply devices find applications in a plethora of
  medical activities including PET scanners, MRI,
  CT scan, X-ray, blood analyzers, DNA equipment,
  patient monitor, dental equipment, robotic
  surgical devices, etc. Selecting a specific power
  supply device is a major task for healthcare
  organizations, especially due to frequent changes
  in safety and environmental norms for medical
  equipment. For instance, electromagnetic
  interference (EMI) generates significant
  distortion to operation of equipment. Since
  medical equipment is more sensitive to EMI than
  industrial equipment, it is crucial to have
  compliance with efficient performance.

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• The Global Medical Power Supply Devices
  Market, By Product Type (Standard Medical Power
  Supply Device and Configurable Power Supply
  Devices), By Function (AC-DC Power Supply Devices
  and DC-DC Converters), By End User (Hospitals,
  Ambulatory Surgical Centers, Clinics, Long term
  Care Centers, Rehabilitation Centers, Diagnostic
  Centers and Home Care Settings) and by Region
  (North America, Europe, Asia Pacific, Latin
  America, Middle East and Africa) - Global
  Forecast to 2027, is expected to be valued at
  US 2015.3 million by 2027, exhibiting a CAGR of
  4.6 during the forecast period (2019-2027), as
  highlighted in a report published by Coherent
  Market Insights.

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Market Dynamics- Drivers

• Increasing geriatric population worldwide is
  expected to drive growth of the global medical
  power supply devices market during the forecast
  period
• Rising geriatric population across the globe is
  increasing the demand for biotechnology,
  pharmaceutical, and medical device products.
  Since the geriatric population requires more
  assistance and medical care, the demand for a
  wide range of medical devices ranging from simple
  disposable supplies to patient-treatment and
  monitoring instruments are expected to increase
  significantly. According to the World Health
  Organization (WHO), the global geriatric
  population is expected to account for around 22
  of global population by 2050. According to the
  same source, in Europe, the number of people aged
  85 years and above is expected to increase from
  14 million to 19 million by 2020, and increase to
  40 million by 2050. Furthermore, power supply
  device manufacturers are focused on introducing
  non-invasive, responsive, and user-friendly
  medical devices particularly focused on geriatric
  population. Hence, these factors are expected to
  boost the market growth in the near future.

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• Growing expenditure on healthcare and healthcare
  facilities is expected to propel the global
  medical power supply devices market growth over
  the forecast period
• Private as well as public expenditure on
  healthcare has increased significantly in the
  recent past. This is owing to increasing
  population and prevalence of various diseases.
  Furthermore, rapidly changing lifestyle is
  driving the demand for advanced healthcare
  solutions, thereby accelerating the demand for
  medical power supplies globally. According to the
  World Bank, public and private health expenditure
  collectively in the U.S. accounted for 17 and
  17.2 of the overall GDP of the country in 2012
  and 2013 respectively whereas, in Germany, it
  accounted for 11.3 of the countrys GDP in 2013.
  Increased expenditure on healthcare has led to
  high adoption of wireless technologies,
  implantable medical devices, and high preference
  for alternative healthcare institutions. Thus,
  rise in healthcare expenditure is expected to
  propel the global medical power supply devices
  market growth over the forecast period. APAC
  region dominated the global medical power supply
  devices market in 2019, accounting for 40.3
  share in terms of value, followed by Europe,
  North America, Latin America, and Middle East
  Africa respectively.

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Growing expenditure on healthcare and healthcare
facilities is expected to propel the global
medical power supply devices market growth over
the forecast period
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Market Dynamics- Restraints

• Rising emergence of multi-functional equipment is
  expected to restrain growth of the global medical
  power supply devices market over the forecast
  period
• Sudden emergence of multi-functional medical
  equipment has hindered the demand for
  application-specific equipment, thereby hampering
  sales of medical power supply devices. Many
  manufacturers are actively offering medical
  devices with multiple functions and features. For
  instance, Chinese manufacturers offer
  multifunctional Anesthesia machine with
  in-built ventilator systems. Moreover, companies
  such as DRE Medical, Inc. offer hospital-grade
  patient monitors for applications such as ECG
  monitoring and Capnography.

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• Frequent product recalls is expected to hamper
  the global medical power supply devices market
  growth during the forecast period
• Product failures and constantly changing
  regulatory policies and certifications of medical
  devices have led to increase in product recalls.
  As a result of this, original equipment
  manufacturers (OEMs) are facing increased
  inventory, operational, and logistics costs,
  thereby leading to significant revenue losses.
  For instance, in March 2016, the U.S. Food and
  Drug Administration (FDA) recalled Drägerwerk AG
  Co.s ventilators between June 1, 2011, and
  December 1, 2015. The product was recalled due to
  power supplies causing a ventilator to shut down
  unexpectedly, which could potentially lead to
  patient injury or death.

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Market Opportunities

• Increasing shift towards wireless medical devices
  can present lucrative growth opportunities for
  market players
• Wireless medical device manufacturers require
  flexibility in terms of terms EMC
  (Electromagnetic compatibility) and EMI
  (electromagnetic interference) for power
  supplies, in order to cater to the demand from
  end users. Furthermore, power supply devices
  manufacturers are focused on developing
  compact-sized and energy-efficient medical power
  supplies for wireless test and measurement
  equipment for medical applications. High demand
  for wireless medical devices is expected to boost
  expenditure by OEMs for designing and
  manufacturing medical power supply devices with
  specific equipment requirements.

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• Strategic partnerships between public and private
  sector can provide significant business
  opportunities
• The government of Indian and China are
  collaborating with OEMs of healthcare equipment
  and service providers in the U.S., in order to
  expand manufacturing facilities and increase
  access to treatments in these countries. Allowing
  Foreign Direct Investment (FDI) in these
  countries is expected to create major growth
  opportunities for medical device manufacturers.
  For instance, in January 2014, Medtronic Plc., a
  medical devices manufacturer, partnered with the
  Chinese municipal government of Chengdu, China.
  Under this partnership, the company invested in
  its existing medical device manufacturing
  facility. Moreover, in August 2014, Medtronic
  Plc. announced plans to establish a factory for
  portable hemodialysis equipment in China.

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• Strategic partnerships between public and private
  sector can provide significant business
  opportunities

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Market Trends

• Rising demand for energy-efficient power supply
  devices
• The demand for energy-efficient power supply
  devices is increasing significantly benefits
  provided by these devices such as low operational
  cost. The demand is also driven by legislation
  such as the European Unions EcoDesign Directive
  2009/125/EC, which aims to mandate low stand
  operation. OEMs are focused on adopting various
  technologies such as development of magnetic
  component devices and control ICs, in order to
  enhance the energy efficiency of their products
  thereby catering to the rising demand from end
  users. For instance, in October 2015, TDK Lambda
  announced that external power supplies were
  complaint with the U.S. DoE Level VI efficiency
  standards. In January 2016, XP Power introduced
  AC-DC power supplies, complying with the same
  energy efficiency standards.

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• Integration of mains isolation technology in
  medical power supply equipment
• Medical power supply is not designed to work
  parallel with consumer electronics devices. This
  is due to the fact that power supply equipment in
  consumer electronic devices can negatively affect
  the electrical network of the medical power
  supply equipment. Moreover, medical power supply
  devices are adversely affected by electromagnetic
  interference (EMI), which can result in potential
  risk of electric shocks to the patient.
  Therefore, medical power supply devices are being
  integrated with two Means of Operator Protection
  (MOOP), in order to isolate patients and
  operators using medical devices in case of a wide
  range of applications.

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Segment information

• In global enterprise collaboration service
  market, by Product Type segment, the Standard
  Medical Power Supply dominated the global market
  in 2019, accounting for 61.8 share in terms of
  value, followed by Configurable Medical Power
  Supply respectively.

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Regulations

• Asia Pacific
• Medical power supplies imported to Japan need to
  comply with DENAN
• In Japan, DENAN is a national law administered by
  Japans METI (Ministry of Economy, Trade, and
  Industry), formerly the Electrical Appliance and
  Material Control Law (DENTORI). DENAN provides
  PSE approval certification which acts as
  compliance of safety standards for medical
  equipment
• EK Mark Korea
• Koreas EK Mark is administered by its Agency for
  Technology and Standards (MOCIE) to demonstrate
  compliance for medical power supply and equipment
  with the Electrical Appliances and Materials
  Safety Control Law.
• CCC Mark China
• The CCC (China Compulsory Certificate) Mark on
  any product specifies compliance with Chinese
  laws and regulations. This mark is compulsory for
  any product to be used for commercial purposes in
  China.

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Competitive Section

• Key players operating in the global medical power
  supply devices market are Astrodyne TDI, SL Power
  Electronics, Powerbox International AB, TDK
  Lambda Corporation, Artesyn Embedded Technologies
  (Emerson Network Power), GlobTek, Inc.,
  ICCNexergy, FRIWO Geratebau GmbH, Excelsys
  Technology, and Delta Electronics, Inc.

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Key Developments

• Key players in the market are focused on product
  launches, in order to expand product portfolio.
  For instance, in December 2017, Powerbox
  International AB introduced a new series of power
  supplies for medical applications, OBR04.
• Major companies in the market are involved in
  product launches, in order to enhance the market
  presence. For instance, in November 2018, TDK
  Lambda Corporation introduced CUS1500M series of
  AC-DC power supplies, which certified for medical
  applications.

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  transformational growth by helping them make
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