Global Medical Batteries Market is projected to reach a size of USD 3.7 billion by 2027, at a CAGR of 6.7% from an estimated USD 2.2 billion in 2019.A medical battery consists of a cell or a group of cells that are designed for storing, receiving and delivering electric energy as required. The principle behind it is converting chemical energy into electrical energy.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The increase in the prevalence of chronic and cardiovascular diseases are leading to sustained development and innovation in medical devices for treatment and prevention, such as defibrillators and pacemakers. The rise in the acceptance to development of light, long-life efficient batteries, mainly in patient monitoring devices such as hemodynamic, glucometer, cardiac, neuro, fetal & neonatal, respiratory, weight, temperature, multi-parameter, and remote patient monitoring devices.
The major drivers of the market are technological advancement, reimbursement in the healthcare facilities, and medical equipment. Usually, medical batteries have a high demand for implantable medical devices and some non-implantable medical devices. On the other hand, the risk which comes from medical batteries are the strains for the market. The risks involved with the use of medical batteries are battery depletion, high internal resistance, and battery leakage.
By Product type, the market is divided into two types; implantable batteries and non-implantable batteries. Furthermore, on the basis of configuration, medical batteries are of different types such as Lithium Batteries, Nickel-Metal Hydride Batteries, Zinc-air batteries, and other alkaline-manganese battery.
North America dominates the market for global medical batteries due to broad technical applications of medical batteries and improved healthcare facilities. Asia-Pacific followed by Europe region, is expected to witness a high growth rate in the forecast period.
Medical Batteries Market
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global Medical Batteries Market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Medical Batteries Market.
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Scope of Global Medical Batteries Market
Global Medical Batteries Market, By Product Type
• Implantable batteries
• Non-Implantable batteries
Global Medical Batteries Market, By Battery Type
• Lithium Batteries
• Nickel-Metal Hydride Batteries
• Zinc-air batteries
• Other batteries
Global Medical Batteries Market, By End-User
• Hospitals and nursing homes
• Diagnostic centers
Global Medical Batteries Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global Medical Batteries Market
• Maxim Integrated
• Texas Instruments
• Liberting Technologies, Inc.
• Tadiran Batteries Ltd.
• Saft Groupe S.A.
• Arotech Corporation
• Shenzhen Kayo Battery Co., Ltd.
• Vitec Group Plc.
• Quallion LLC
• STMicroelectronics N.V.
• Ultralife Corp.
• Electrochem Solutions, Inc.
• EaglePicher Technologies, LLC
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