Medical Batteries Market: Global Industry Analysis and Forecast (2023-2029)

Medical Batteries Market size is expected to grow at a CAGR of 6.23% during the forecast period and the market size is expected to reach nearly US$ 4.46 Bn. by 2029.
Medical Batteries Market Overview:
The radical developments in the medical sector are fast renovating the healthcare situation. The telescopic prevalence of cardiac & chronic diseases is driving the need for the development of wide technologies. This influence may bring good development for the medical batteries market over the forecast period.To know about the Research Methodology:- Request Free Sample Report

The growing effect of medical devices through the healthcare segment to track many diseases & disorders is placing a red carpet of development for the medical batteries market. MMR report for the global medical batteries market offers a methodical study to the stakeholder on many parameters of development like competitive analysis, regional assessment, & key trends. The analyst have closely studied & checked the COVID-19 impact on the market & have been inculcated in the report. Also, the report also highlights the pain points so that the investor can plan the business approach accordingly.

Growing demand for battery driven portable & implantable devices:

Companies are concentrating on manufacturing battery, which can deliver high performance & have long-life duration. For example, CONMED introduced Hall Li battery system in the year 2013, which has dual power storing capability than standard batteries & can be used in reconstructive orthopaedic measures for continuous surgery process. Also, growing demand for implantable devices to provide to increasing population suffering from chronic diseases like diabetes & cardiovascular, is anticipated to aid in great demand for implantable batteries.

According to MMR report study, cardiovascular diseases are the key reason of death worldwide: more individuals die yearly from cardiovascular diseases. In the year 2015, it was expected that 17.7 Mn individuals died from cardiovascular diseases, signifying 31 percent of all world-wide deaths. Of these deaths, a projected 7.4 Mn were owing to coronary heart disease & 6.7 Mn were owing to stroke, which is anticipated to increase the demand of innovators, in turn favouring the development of medical batteries. Furthermore, in the year 2017, Ultra life Corporation introduced 492Wh LiFePO4 smart battery, which is armed with correct fuel gauging & integrated safety circuitry which is aimed to SLA batteries used in medical system.

Growing prevalence of chronic diseases like diabetes & cardiovascular is prominent to increasing demand for medical batteries in Equipments required for dealing of these diseases. According to MMR report, main reason of death in the United States in the year 2017 was heath disease & every year about 630,000 Americans die from heart problems. This is estimated to provision demand for medical devices necessary for treatment & avoidance of this disease in turn helping in development of the medical batteries market in the United States. Furthermore, the number of individuals suffering from diabetes improved from 108 Mn in the year 1980 to 422 Mn in the year 2018 globally. This has headed to great demand for products like insulin pumps, which need batteries.

However, safety worries related to Li batteries is a key influence limiting development of medical batteries market. Li rechargeable batteries have the potential to overheat & even catch fire, this can happen owing to overcharging owing mechanical pressure .The Food and Drug Administration of United States has delivered a cautionary concerning potential fire hazards owing to the usage of Li-ion batteries in mobile medical system. Furthermore, according to MMR reports, in the year 2018, circumstances related to hospital fires & other health threats, related with batteries used in mobile medical system & their chargers contain explosions, fires, smoking, of device which required hospital removals.
COVID-19 Situation Analysis:
To take care of diseased populace the demand for medical provisions is growing. Respirational support equipment’s like atomizer, life-support machine, O2 generator, & monitor are among the majorly used medical equipment in main clinical treatment. Furthermore, COVID-19 has controlled to an enormous rise in demand for medical provisions like personal shielding equipment counting masks, gloves, & protective eyeglasses. With increase in number of COVID-19 populace globally, the necessity for medical provisions keeps on increasing among, both from healthcare sector & civil populace for safety measures. Companies of these goods have a chance to exploit this improved demand of medical deliveries to confirm adequate & constant supply of personal shielding device in the medical batteries market.
Major Impacting Influences:
The rise in occurrence of cardiovascular & chronic diseases & further encouraging need for the treatment, fuels the essential for more technological progresses in medical equipment’s for prevention like innovators & defibrillators. Also, increase in acceptance of the long-life batteries for monitoring the patients like glucometer, hemodynamic, cardiac & temperature is pouring the medical batteries market development.

Numerous government rules to be tracked by sellers for the recycling of used batteries would limit the market development. Rise in the usage of rechargeable medical batteries as associated to main batteries owing to long life is the factor prompting the development of the medical batteries. Technical progressions in the medical devices is powering the development & rise in the medical device & healthcare services are also prompting the development. The battery reduction, battery leak & high internal resistance are the reasons limiting the growth.
Medical Batteries Market Current Trends:
The COVID-19 outburst has carried immense pressure on the healthcare sector as the statistics of infected patients are increasing day by day. A substantial chunk of patients are on ventilator provision to tackle the new coronavirus infection. Although ventilators frequently run on electricity, a time for battery backup is delivered to allow the smooth running of the ventilator through power cuts. Hence, medical batteries are being used on a significant for ventilators. For example, Epsilor Electric Fuel, a smart battery & charger company was chosen to deliver rechargeable Li batteries to an Israeli company of automatic ventilation machineries to support the coronavirus-fighting instrument.

Government backing for refining the healthcare infrastructure through many nations is bringing marvellous development opportunities for the medical batteries market. Initiatives inspiring medical device start-ups are also transporting extensive development prospects for the medical batteries market.
Medical Batteries Market Regional Overview:

North America may help as the major regional supplier through the forecast period. Well-established healthcare set-up & technological progressions in the region may help as major growth influences for the medical batteries market. APAC may also exposed the pathway to a plethora of development opportunities for the medical batteries market owing to the rising inspiration of technology in the medical business through the region.

The objective of the report is to present a comprehensive analysis of the Global Medical Batteries Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Global Medical Batteries Market dynamics, structure by analyzing the Market segments and project the Global Medical Batteries Market size. Clear representation of competitive analysis of key players by Product, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Medical Batteries Market make the report investor’s guide.
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Global Medical Batteries Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2023:
US $ 2.92 Bn.


Forecast Period 2023 to 2029 CAGR:
6.23 %
Market Size in 2029:
US $ 4.46 Bn.


 Segments Covered:
by Product
Implantable batteries
Non-Implantable batteries


by End-Use
Hospitals
Nursing homes
Clinics
Diagnostic centers
Others



Medical Batteries Market, by region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Medical Batteries Market Key Players are:
1.Siemens
2.EaglePicher Technologies
3.GE
4.Electrochem Solutions
5.Maxim Integrated
6.Ultralife Corp
7.Panasonic
8.STMicroelectronics N.V
9.Texas Instruments
10.Quallion LLC
11.EnerSys
12.Vitec Group Plc
13.Liberting Technologies
14.Shenzhen Kayo Battery Co
15.Tadiran Batteries Ltd.
16.Arotech Corporation
17.Saft Groupe S.A.

1) What is the share of the Global Medical Batteries Market in 2022?
Answer: The Global Medical Batteries Market was accounted for 2.92 Billion in the year 2022.

2) Which end use segment is dominating the Global Medical Batteries Market?
Answer: Hospitals sector is the dominating end use segment in the market.

3) What are the key players in the Global Medical Batteries Market?
Answer: Siemens, EaglePicher Technologies, GE, Electrochem Solutions, Maxim Integrated, Ultralife Corp, Panasonic, STMicroelectronics N.V, Texas Instruments, Quallion LLC, EnerSys, Vitec Group Plc, Liberting Technologies, Shenzhen Kayo Battery Co, Tadiran Batteries Ltd., Arotech Corporation , Saft Groupe S.A..

4) Which factor acts as the driving factor for the growth of the Global Medical Batteries Market?
Answer: The major factors for the growth of the Global Medical Batteries market includes Increasing demand for battery powered portable and implantable devices.