DUBLIN–(BUSINESS WIRE)–The “Medical Power Supply Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global medical power supply market grew from $1.6 billion in 2022 to $1.77 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The medical power supply market is expected to grow to $2.62 billion in 2027 at a CAGR of 10.3%.
North America was the largest region in the medical power supply market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this medical power supply market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Increasing expenditure on healthcare is expected to propel the growth of the medical power supply market going forward. All expenditures for the provision of health services, family planning activities, nutrition activities, and health-related emergency aid are included in health expenditure. Medical devices provide healthcare professionals with unparalleled support in the medical diagnosis and treatment process.
They are essential for preventing, diagnosing, treating, and rehabilitating illnesses and diseases in a safe and effective way. According to the Centers for Medicare & Medicaid Services (CMS), national healthcare expenditure increased 9.7% to $4.1 trillion in 2020, or $12,530 per person, and accounted for 19.7% of GDP. Therefore, the increasing expenditure on healthcare is driving the medical power supply market.
Technological advancement is a key trend gaining popularity in the medical power supply market. Major companies operating in the medical power supply market are focused on developing new technological solutions to strengthen their position.
For instance, in May 2022, Connect America LLC, a US-based company operating in medical power supply, launched Connect America HomeTM, the next-generation, AI-enabled digital health and safety platform, which is a first-of-its-kind solution providing personal emergency response services (PERS) and remote patient monitoring (RPM). This platform provides continuous monitoring to help ageing and vulnerable populations with emergency and non-emergency support.
In March 2021, Bel Fuse Inc., a US-based leading supplier of products that power, protect, and connect electronic circuits, acquired EOS Power India for an amount of $7 million. This acquisition would allow Bel to extend its manufacturing footprint outside of China through a turnkey operation that has an established local supply chain and onsite technical expertise for design and manufacturing. EOS is an India-based manufacturer and exporter of branded power supplies that include medical power supplies.
The countries covered in the medical power supply market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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1) By Type: Open Frame Power Supply; Enclosed Power Supply; Adapter Power Supply; Converters
2) By Converter Type: AC-DC Power Supply; DC-DC Power Supply
3) By End-User: Hospitals; Ambulatory Surgical Cente; Clinics; Long Term Care Centres; Diagnostic Centers; Rehabilitation Centers; Home Care Setting
Key Topics Covered:
1. Executive Summary
2. Medical Power Supply Market Characteristics
3. Medical Power Supply Market Trends And Strategies
4. Medical Power Supply Market – Macro Economic Scenario
5. Medical Power Supply Market Size And Growth
6. Medical Power Supply Market Segmentation
7. Medical Power Supply Market Regional And Country Analysis
8. Asia-Pacific Medical Power Supply Market
9. China Medical Power Supply Market
10. India Medical Power Supply Market
11. Japan Medical Power Supply Market
12. Australia Medical Power Supply Market
13. Indonesia Medical Power Supply Market
14. South Korea Medical Power Supply Market
15. Western Europe Medical Power Supply Market
16. UK Medical Power Supply Market
17. Germany Medical Power Supply Market
18. France Medical Power Supply Market
19. Eastern Europe Medical Power Supply Market
20. Russia Medical Power Supply Market
21. North America Medical Power Supply Market
22. USA Medical Power Supply Market
23. South America Medical Power Supply Market
24. Brazil Medical Power Supply Market
25. Middle East Medical Power Supply Market
26. Africa Medical Power Supply Market
27. Medical Power Supply Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Medical Power Supply Market
29. Medical Power Supply Market Future Outlook and Potential Analysis
A selection of companies mentioned in this report includes
- Koninklijke Philips N.V.
- Connect America LLC
- ADT Security Services
- Bay Alarm Medical
- VRI Inc.
- Life Alert Emergency Response Inc
- Medical Guardian LLP
- Nortek Security and Control LLC
- Rescue Alert
- AlertONE Service Inc.
- Ascom Wireless Solutions
- LogicMark LLC
- Tunstall Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/nn0vd1
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