Medical Food Market with Manufacturing Process and CAGR Forecast by 2030 – The Daily Vale
the global medical food market size was estimated at $1,086.7 million in 2021. It is estimated to reach $1,798.4 million by 2030, registering a CAGR of 6.5% from 2022 to 2030. Medical power supplies produce conditioned outputs for medical devices, instruments and equipment. They are built to meet strict safety standards, which cover medical and dental equipment intended for professional use. Medical power supplies also typically require longer design cycles than commercial devices, and designers often require more design assistance from the power supply vendor. They tend to have a longer life expectancy, which means they usually have to be supported by the provider for many years.
Power supplies are classified according to the mechanism used to convert and transfer input power to output power. Categories include linear power supplies and switching power supplies for medical power supplies. The miniaturization of medical electronics is becoming more and more popular in the world. This trend applies to all electronic equipment, but the pressure to reduce size and weight is strongest in the medical field. This creates pressure on power supply manufacturers mainly to reduce the size of their products.
Global Medical Food Market Definition
A Power source is an electrical device that supplies electrical energy to an electrical load. Safety is one of the main factors that distinguishes medical-grade power supplies from commercial models. Medical equipment mainly requires longer design cycles than other types of equipment and more support from the power supplier.
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Impact of Covid-19 on the global medical power supply market
With the recent outbreak of the COVID-19 pandemic around the world, there is a surge in demand for medical power needs, especially for ventilators, nucleic acid detectors, masks and other medical equipment. temperature measurement. Life-saving medical equipment such as patient monitors and ventilators have seen the greatest increase in demand. Moreover, in April 2020, MEAN WELL announced that it decided to build a special production line for medical power supplies. However, the company’s original production capacity is attributed to the factory in Taiwan and Guangzhou. The company also said that currently, medical power supplies are its priority.
The outbreak of the COVID-19 pandemic has also resulted in new policies globally that require the use of certified healthcare systems. For example, on February 4, 2020, the Secretary of the Department of Health and Human Services (HHS) determined that, pursuant to Section 564 of the Federal Food, Drug, and Cosmetic (FD&C) Act, it There is a significant potential for a public health emergency that could affect national security or the health and safety of US citizens living abroad.
Dynamics of the global medical power supply market
Drivers: Technological advances in healthcare equipment
Growing demand for precise automated and robot-assisted surgeries with growing demands for surgical procedures in geriatric population and increasing cases of trauma are the major factors driving and managing the growth of this market.
Recent advances in MRI technology are making images and scans more detailed, giving doctors better insight into the cause of a patient’s problem. Developments in artificial intelligence may soon make these devices more accurate. When applying the pattern-finding power of AI to MRIs, the result is clearer, easier-to-read images. These advancements are expected to maintain a significant demand for power supplies over the forecast period.
Constraints: Regulatory compliance and strict safety standards
It is very difficult to implement and gain approval for a mains power supply for medical applications that implements the relevant requirements and limits of IEC 60601-1. Traditional power supply parameters such as line and load regulation, voltage and current output, efficiency and stability over time and temperature must all be met by the base power supply. It must also meet several complex and stringent regulatory requirements.
When choosing a power supply, care must be taken to check that it meets the needs in terms of MOPP (means of patient protection) or MOOP (means of operator protection). A 1 x MOOP power supply is less demanding in terms of isolation distances and working isolation voltages, so it will likely be cheaper to build. When operators come into contact with the equipment, 2x MOOP is sufficient.
Global Medical Power Supplies Market Research Report Segmentation
The study categorizes the Medical Power Supply market based on technology, type, application and manufacturing type at regional and global level.
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By Technology Insights (Sales, million USD, 2017–2030)
- AC to DC Power
- 200W and less
- 1001 to 3000W
- 3001W and above
- DC to DC Power
- 30W and less
- 61W and above
By Outlook type (Sales, million USD, 2017–2030)
- Open frame feed
- Power supply closed
- Power Adapter
By manufacturing type Outlook (Sales, million USD, 2017–2030)
- Standard power supply
- Personalized diet
- CF rated power supply
By Outlook app (Sales, million USD, 2017–2030)
- Diagnostic, imaging and monitoring equipment
- X-ray system
- CT scanner
- Ultrasound system
- mammography system
- Positron emission tomography (PET)
- Other diagnostic system
- Surgical equipment
- Radiofrequency ablation system
- Electric ablation and electroporation system
- Light and laser based ablation system
- Aesthetic laser system
- Laser devices for ophthalmology
- Other surgical equipment
- Home medical equipment
- PAP devices
- Infusion pumps
- Ventricular assist devices
- Pulse oximeters
- Portable nebulizers
- Portable suction device
- Other Apps
Outlook by region (Sales, million USD, 2017–2030)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
AC to DC power segment accounted for the largest market share
Based on technology, the global medical power supply market is divided into AC to DC power supply and DC to DC power supply. In 2021, AC to DC power accounted for the largest market share of 75.1% in the global medical power supply market. Medical devices must incorporate at least one means of protection to guarantee the safety of the operator and the patient using the medical devices. This equipment must meet very high safety and reliability standards due to the high-risk nature of the applications. AC-DC medical power supply is used in medical equipment, such as MRI systems, CT scanners, X-ray monitors and ECG monitors, due to the advantages of low power consumption, lower risk of current leakage and higher efficiency.
Growing adoption of portable medical device models, rising incidence of home care devices, and new product launches are driving the demand for high quality medical power devices. In addition, in the AC/DC category, there are linear and switching power supplies.
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Asia Pacific represents the highest CAGR
On the basis of region, the global medical power supply market has been segmented into North America, Asia–Pacific, Europe, South America, Middle East and Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 7.7% in the global medical power supply market during the forecast period. The Asia-Pacific region is a prime location for manufacturing and sourcing medical products for major medical device manufacturers. The understanding that medical devices add value to hospitals, patients and payers is fueling the demand for medical devices in Asia Pacific. Another aspect driving the growth of the market is the increased adoption of routine health checkups and technological advancements in medical devices.
Furthermore, the demand for minimally invasive treatments and government support for medical device development and research and development in the development of highly advanced medical devices has increased exponentially in recent years. It is expected to continue to do so during the forecast period. However, the shortage of advanced medical facilities in low- and middle-income countries in the region is a major impediment to market expansion.
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Main market players
The medical power supply market is slightly concentrated in nature with few global players operating in the market such as Delta Electronics Inc., CUI Inc. (Bel Fuse Inc.), Advanced Energy Industries Inc., Globtek Inc. , Mean Well Enterprises Co. Ltd, Powerbox International AB, SL Power Electronics Corp., Spellman High Voltage Electronics Corporation, TDK-Lambda Corporation and XP Power. Each company follows its own business strategy to achieve the maximum market share.