Delta Electronics, Inc. (Taiwan) and Advanced Energy Industries, Inc (US) are Leading Players in the Medical Power Supply Market
The global medical power supply market is projected to reach USD 1.9 billion by 2027 from USD 1.5 billion in 2022, at a CAGR of 6.5% from 2022 to 2027. Robust growth in applied markets (such as diagnostic imaging, patient monitoring, wearable devices, home healthcare, and surgical equipment, among others); growing product development and commercialization; and increased research grants, funding, and public-private investments are the key factors driving growth of the market. However, complex regulatory frameworks and technical limitation of conventional medical power supplies are expected to limit market growth in near future.
The medical power supply market is competitive in nature with several big and emerging players equally holding shares of the market. As of 2021, the key players operating in the global medical power supply market are Advanced Energy Industries, Inc (US), TDK Corporation (Japan), Delta Electronics, Inc. (Taiwan), SL Power Electronics (US), XP Power (Singapore), Bel Fuse Inc. (US), COSEL Co. Ltd. (Japan), FRIWO Gerätebau GmbH (Germany), SynQor, Inc. (US), GlobTek, Inc. (US), MEAN WELL Enterprises Co. Ltd. (Taiwan), Spellman High Voltage Electronics Corporation (US), and Astrodyne TDI (US), among others.
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These players have adopted various strategies such as acquisitions, partnerships, and product launches to further expand their presence in the global medical power supply market. In 2021, a major share of the global medical power supply was held by Advanced Energy Industries (US), Delta Electronics (Taiwan), TDK Corporation (Japan), SL Industries, Inc. (US), and XP Power (Singapore).
Delta Electronics:
Delta Electronics provides medical-grade power supplies that meet energy star level V requirements and draw less than 0.1 ma of earth leakage current. Due to technological advancements and excellent operations management, Delta has become an indispensable long-term strategic partner for many world-class manufacturers. The company has received accolades for its Switch Mode Power Supplies (SMPS), brushless DC fans, cooling systems, and miniaturized key component. The company focuses on inorganic strategies, such as acquisitions, to strengthen its offerings and global reach and sustain its presence in this market.
Advanced Energy Industries:
Advanced Energy is a global leader in power solutions. The company has adopted organic and inorganic growth strategies to strengthen its product portfolio and gain a competitive edge over the competitors. The company’s heavy investments in R&D activities have supported efforts to develop differentiated products and enhance existing ones. The company’s R&D expenses in 2021 amounted to USD 161.8 million, whereas, in 2020, it was USD 143.9 million, representing 11.1% and 10.2% of total sales, respectively. Moreover, M&A is another key strategy adopted by the company to increase its market penetration. Few of the recent acquisitions of the company include TEGAM, Inc. (2021) to expand the company’s presence in RF process power solutions; Versatile Power, Inc. (2020) to gain momentum in RF and programmable power supplies for medical and industrial applications; Artesyn Embedded Technologies, Inc. (2019) to diversify the companys business into embedded industrial power applications.
Related Reports:
Medical Power Supply Market by Converter Type (AC-DC, DC-DC), Application (MRI, ECG, EEG, PET, CT Scan, Ultrasound, X-ray, RF Mammography, Surgical Equipment, Dental Equipment), Manufacturing Type (Enclosed, External, U Bracket) - Global Forecasts to 2027
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