The size of the Europe Medical Power Supply Market was valued at USD 292.88 million in 2022. It is further forecasted to grow and be worth USD 382.06 Million by 2027, growing at a CAGR of 5.46% from 2022 to 2027.
The increased prevalence of diseases, improved access to medical treatment, availability of technical support for healthcare, improvement in the standard of living, and the efficiency of the digitally regulated power supply are a few of the primary factors accelerating the growth rate of the European medical power supply market.
Patient and operator safety is crucial for the medical power supply. Therefore, technological breakthroughs and innovation significantly impact the medical power supply market. The growing adoption of new advanced procedures and a technologically enhanced health care system are primarily accelerating the market growth for medical power supply devices in the European region due to the advantages such as enhanced power factor correction, better thermal management, and less audible noise. In addition, the overall research effort in the field has also been fueled by the availability of funding and support for the development of portable medical devices.
Medical equipment is becoming smaller, more efficient, cost-effective, reliable, and lighter, and the aforementioned factor is propelling the market’s growth rate. Furthermore, increased investments in research and development are also expected to drive the European medical power supply market during the forecast period.
However, the growth of the medical power supply market in the European region is predicted to be hampered by the tight regulating compliance and security regulations during the timeframe period. On the other hand, the recession and an unfavorable regulatory environment are further expected to impede the market's growth rate.
This research report on the European medical power supply market has been segmented and sub-segmented into the following categories:
Geographically, Europe had the second-largest share in the global medical power supply market in 2020. The rise in market penetration of portable and integrated medical devices and the acceptance of home-use healthcare goods are likely to fuel the growth of the medical power supply market in this region over the forecast period. Furthermore, developing countries such as Germany, the United Kingdom, and Spain and increased availability will create prospective prospects in the medical power supply industry in the following years.
The UK is expected to lead the European market during the forecast period due to the rising research expenditures on energy-efficient power supplies and technological advancements in power supplies and ecosystems.
KEY MARKET PLAYERS:
Companies playing a significant role in the European Medical Power Supply Market profiled in the report are Powerbox, SL Power Electronics, TDK Lambda, Emerson Network Power, Astrodyne Corporation, ICCNexergy, Delta Electronics, Inc., Excelsys Technology, and Mean Well Enterprises Co., Ltd.
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