The Medical Devices Batteries Market report will provide readers, stakeholders, and companies with in-depth information about market size, revenue growth, and overall market dynamics in order to help them strengthen their position in the global Medical Devices Batteries Market. It also contains detailed information on key factors, constraints, limitations, and challenges, as well as market segmentations such as product type, application, and regional bifurcation.
The global Medical Devices Batteries Market size was USD 2700.1 Million in 2021 and is expected to register a revenue CAGR of 6.3% during the forecast period, according to latest analysis by Emergen Research.
A few of the major factors influencing market revenue growth over the forecast period include the rising popularity of lithium-ion batteries, surge in demand for portable and implantable devices powered by batteries, rising prevalence of chronic diseases and cardiovascular diseases globally, and rising public and private expenditure to upgrade existing healthcare infrastructure. In addition, rising demand for lithium-ion batteries is anticipated to fuel market revenue expansion. A medical battery is an electrical component connected to other medical equipment so that they can receive electricity. A cell or linked set of cells that are designed to receive, store, and dispense electric energy as needed make up a medical battery.
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Competitive Terrain:
The global Medical Devices Batteries industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
Leading Market Players Profiled in the Report:
Resonetics, GE Healthcare (General Electric Company), Ultralife Corp., Texas Instruments, EnerSys, KAYO Battery (Shenzhen) Company Limited, Tadiran Batteries Ltd., Arotech Corporation, Saft, and Renata SA
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Some Key Highlights from the Report
- The market for medical device batteries is divided into three categories based on the kind of battery: lithium batteries, nickel-metal hydride batteries, and zinc-air batteries. Due to increasing lithium battery consumption, the lithium batteries market is predicted to expand at a significant revenue rate throughout the forecast period. Secondary lithium-ion batteries that can be charged while being implanted have also been developed for use in medical devices. These medical gadgets are often powered by lithium batteries due to their great energy density, safety, and dependability. This has increased demand for it, which is projected to propel this segment's revenue growth.
- In 2021, the market in North America accounted for the biggest revenue share. The need for medical devices in hospitals, clinics, and diagnostic facilities in the nations of this area has increased as a result of an increase in the incidence of cancer and other chronic diseases. According to the American Cancer Society, 1.9 million new instances of cancer were diagnosed in the country in 2022, and more than 600,000 of those people passed away. This is anticipated to assist the expanding demand for medical device batteries, a key component in the market's increasing revenue. Increasing expenditures in healthcare infrastructure and medical facilities, as well as the quick uptake of cutting-edge technology for the early detection and diagnosis of illnesses like cancer, are other important drivers of market revenue growth.
- Resonetics purchased EaglePicher Technologies Medical Power division, a producer of implantable batteries for medical equipment, on February 11, 2022. This purchase will provide Resonetics access to cutting-edge manufacturing technology and give clients access to cutting-edge clinical applications that need for tiny bioelectronic devices.
- Rechargeable lithium-ion (Li-ion) batteries designed specifically for medical equipment that need to be sterilised in an autoclave at temperatures up to 125°C were released by Tadiran Batteries on June 18, 2019. Drills, surgical saws, staplers, reamers, shavers, and other tools are among the most popular gadgets.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Medical Devices Batteries market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Medical Devices Batteries market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Medical Devices Batteries market.
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Market Overview:
The report bifurcates the Medical Devices Batteries market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Product Type Outlook (Revenue, USD Million; 2019-2030)
- Implantable Batteries
- Pacemakers Batteries
- Implantable Cardioverter Defibrillator Batteries
- Neurostimulators Batteries
- Cochlear Batteries
- Infusion Pumps Batteries
- Others
- Diagnostic Imaging Device Batteries
- Patient Monitoring Device Batteries
- Critical Care Support Batteries
- In Vitro Diagnostics Instrument Batteries
- Therapeutic Devices
- Prosthetic Device Batteries
- Others
- Battery Type Outlook (Revenue, USD Million; 2019-2030)
- Lithium Batteries
- Nickel-Metal Hydride Batteries
- Zinc-air batteries
- End use Outlook (Revenue, USD Million; 2019-2030)
- Hospitals
- Clinics
- Diagnostic Centers
- Home Care Settings
- Others
Regional Outlook:
- North America (the U.S., Canada, Mexico)
- Europe (the U.K., Germany, France, Italy)
- Asia Pacific (India, China, Japan, Korea)
- Latin America (Brazil, Argentina, Ecuador, Chile)
- Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
Key reasons to buy the Global Medical Devices Batteries Market report:
- The latest report comprehensively studies the global Medical Devices Batteries market size and provides useful inference on numerous aspects of the market, such as the current business trends, market share, product offerings, and product share.
- The report offers an insightful analysis of the regional outlook of the market.
- It offers a detailed account of the end-use applications of the products & services offered by this industry.
- The report holistically covers the latest developments taking place in this industry. Therefore, it lists the most effective business strategies implemented by the market rivals for ideal business expansion.
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