One of the leading players in the power supply market, engaged MarketsandMarkets to secure and grow revenue streams. We offered detailed intelligence into the shifting revenues of client’s clients and their clients. It helped in understanding the potential growth opportunities within the medical power supply segment. Our team defined and solved a series of problems to help the client in winning the market. Further, our team helped the senior management to take a host of crucial decisions—which medical device categories to focus on, who are the prominent players in this area, what problems are faced by them, and the strategies used by them to counter these problems. Few of the key problems solved during the engagement were:
We leveraged our AI-driven market intelligence platform, KnowledgeStore, for identifying the key device types offering lucrative opportunities in the medical power supply market. Our team offered insights into the competitive landscape and the nascent, highly competitive, and established technologies through which competitors are benefitting. In addition to suppliers, we also interviewed a host of potential customers/end-uses to understand their unmet needs, possible use cases, and benefits from advanced power supply technologies.
Our analysts expanded the understanding of the market potential across various device categories. Further, we also helped the client to build an understanding of the competitive landscape, varying business models, and strategies of different players in the medical power supply market. The client services team helped to devise a differentiated product offering and forge suitable alliances to help the client win in this market.
Revenue Shifts Identified
Demand for surgical robots is expected to rise significantly in coming years due to the increase in number of surgeries worldwide. The inclination of industry players is towards portable and miniature surgical robots due to their preference in surgical settings. The field of robotics has received strong attention by public and private bodies. Companies such as Cambridge Medical Robotics and Virtual Incision has raised series of funding for development of miniature robots. Designing efficient power supply for these devices offers lucrative opportunities for power supply manufacturers
Recently there was a sudden increase in the demand of diagnostics machines such as RT-PCR due to the onset of the COVID-19 pandemic. Countries are setting up additional laboratories to extend testing coverage as existing laboratories are not sufficient to accommodate the increasing burden of the disease. This had led to an increased demand for RT-PCR machines as RT-PCR is the most reliable test for COVID-19. This increase in demand for PCR machines will require power supply components which will impact the power supply manufacturers business positively.
With development of portable medical equipment, there is an increase in the need for developing efficient and compact power supplies coupled with the absence of audible noise. For smaller power supplies, efficient magnetics and higher frequencies are required for design and impact. The typical power supply in a device may range from 100 to 200 KHZ. However, power supplies for smaller equipment measures in high megahertz. There has been increasing efforts towards developing efficient power supply resulting in the achievement of 94% efficiency from ~85%.
Revenue Impact (RI)
Our insights helped our client, who specializes in power supply products, to identify approximately USD 100 million revenue potential by tapping into the global medical power supply market.
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