Medical Power Supply Market
According to the new market research report "Medical Power Supply Market by Current Type (AC-DC Power Supply), Application (Monitoring Equipment (MRI, ECG, EEG, PET, Multiparameter Monitor, Ultrasound, X-ray, MEG), Construction (Enclosed, External), Power Ranges (200w) - Global Forecast to 2022" published by MarketsandMarkets™, the global medical power supply market is expected to reach USD 1,218.6 Million by 2022 from USD 885.3 Million in 2017, at a CAGR of 6.6% from 2017 to 2022.
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The major factors driving the growth of this market can be attributed to the growth in funding and infrastructure development, advancements in medical power supply products, and rising trend of home healthcare. The high growth in developing countries across Asia and Latin America are expected to provide significant growth opportunities for players operating in the medical power supply market in the coming years.
AC-DC Power Supply to hold the largest market share during the forecast period
Based on current type, the medical power supply market is segmented into AC-DC power supply and DC-DC power supply. In 2016, the AC-DC power supply accounted for the largest share of the market. The advantages of AC-DC over DC-DC power supply, such as low energy consumption, low risk of current leakage, and greater efficiency are supporting the growth of the AC-DC power supply market.
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Industrial valve market for cryogenic valves to grow at high CAGR from 2018 to 2023
The industrial valve market for cryogenic valves will grow at the highest CAGR during the forecast period. The oil & gas, energy & power, and chemicals industries are likely to have high demand for cryogenic ball valves due to their ability for quarter turn on-off operation, minimal lubrication, and capability to provide tight sealing with low torque in cryogenic fluid handling applications. Cryogenic plug valves will be highly installed in the oil & gas and chemicals industries for the isolation application, that is, to separate cryogenic media from other media.
APAC is expected to hold largest share of industrial valve market from 2018 to 2023
The industrial valve market in Asia Pacific (APAC) accounted for the largest share of the overall market in 2017 is expected to grow at the highest CAGR during the forecast period. Major factors driving the growth of the valve market in APAC include increasing population and rising focus of emerging economies on investing in industries such as energy & power, oil & gas, water & wastewater treatment, chemicals, and construction in which industrial valves are used.
XP Power (Singapore), Spellman High Voltage Electronics Corporation (U.S.), Powerbox International AB (Sweden), Delta Electronics (Taiwan), and Astrodyne TDI Power Supplies and EMI Filters (U.S.) are the key players in the medical power supply market between 2017 and 2022. Other major players operating in this market are Meanwell Enterprises (Taiwan), Handy and Harman (U.S.), Globtek (U.S.), FRIWO Gerätebau (Germany), Inventus Power (U.S.), Wall Industries (U.S.), SynQor (U.S.), Protek Power N.A., (U.S.)
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