Medical Batteries Market Growth Accelerated by Increasing Demand for Medical Devices

Medical Batteries Market


Medical batteries are used as power sources in various medical devices ranging from diagnostic tools to therapeutic equipment. They offer critical back up power to ensure uninterrupted functioning of life supporting medical equipment such as pacemakers and hearing aids. The increasing demand for diverse portable medical devices along with the growing incidence of chronic diseases has been fueling the need for reliable battery operated medical equipment.

The global Medical Batteries Market is estimated to be valued at US$ 3327.46 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The growing demand for medical devices has been a major driving factor for the medical batteries market. According to various research studies, the demand for battery operated medical equipment is expected to surge over 50% by 2030. This increased demand can be attributed to the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases and cancer which require long term medical care. As the medical device industry continues to innovate novel portable and disposable diagnostic and therapeutic equipment, the need for high performance yet safe medical batteries complying with strict quality and safety regulations is growing exponentially. Manufacturers are continuously investing in the development of advanced lithium ion batteries with extended battery life and shelf life to meet this burgeoning demand from the medical device sector.

Segment Analysis
The medical batteries market is segmented into lithium batteries, alkaline batteries, and zinc-air batteries. Lithium batteries are dominating the market as they have a longer shelf life and higher energy density compared to alkaline and zinc-air batteries. Lithium batteries require less maintenance and replacement due to their ability to retain charge over extended periods without usage. They find widespread application in medical devices such as pacemakers, infusion pumps, and defibrillators that require reliable power sources.

Key Takeaways

The global medical batteries market is expected to witness high growth. Medical Batteries Market Size is estimated to be valued at US$ 3327.46 Bn in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2031.

Regional analysis related content comprises Medical batteries market in North America dominates the global scenario in terms of revenue, accounting for the largest share of the global market in 2024. The increasing prevalence of chronic diseases and rising healthcare expenditure are major factors driving the North American medical batteries market.

Key players related content comprises Key players operating in the medical batteries market are Siemens AG, Panasonic Corporation, Maxim Integrated, Ultralife Corporation, Saft Groupe S.A., EnerSys, Tadiran Batteries, Shenzhen Kayo Battery Co. Ltd., Vitec Group, and Duracell Inc.

Key players operating in the medical batteries market are focusing on capacity expansions and new product launches to strengthen their market position. Strategic collaborations with device manufacturers are helping key players integrate their battery solutions and gain more customers. Regulatory approvals and certification for medical-grade batteries have also increased over the years, adding momentum to the medical batteries industry.

Comments

Post a Comment

Popular posts from this blog

Security Robot Market is Estimated To Witness High Growth Owing To Increasing Demand for Enhanced Surveillance

Image
Security Robot Market The Security Robot Market is estimated to be valued at US$ 11.8 billion in 2022 and is expected to exhibit a CAGR of 12.87% over the forecast period of 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: The Security Robot Market encompasses advanced robotic technologies that are specifically designed and developed to enhance security and surveillance operations. These robots are equipped with features such as video surveillance, thermal imaging, facial recognition, and intrusion detection, among others. They are extensively used by security agencies and organizations across various sectors, including residential, commercial, industrial, and government, to enhance safety, reduce human intervention, and streamline security operations. Security robots offer real-time monitoring, remote control, and high accuracy, making them an ideal choice for surveillance in sensitive areas and remote locations. Market Dynamics:
Read more

The Global Methyl & Ethyl Chloroacetate Market Is Expected To Register A Cagr Of 7.9% In Terms Of Revenue Over The Forecast Period (2019-2027)

Image
  Methyl chloroacetate is a colourless liquid with a pungent odour that is used as a dyestuff, medicine, and pesticide intermediate. Methyl chloroacetate has several advantages, including a precise pH value, excellent purity, precise composition, and a longer shelf life. Ethyl chloroacetate is a clear liquid with a strong, fruity odour that is used in the production of dyes, chemical compounds, and other products. Ethyl chloroacetate's benefits include a balanced composition, stable chemical and physical properties, and optimum purity.   The global methyl & ethyl chloroacetate market was valued at US$ 760.6 Mn in 2018, and is expected to register a CAGR of 7.9% in terms of revenue over the forecast period (2019-2027), to reach US$ 1,562.8 Mn by 2027.   Over the forecast period, the global Methyl & Ethyl Chloroacetate Market is expected to grow significantly. The various benefits offered by methyl and ethyl chloroacetate have led to an increase in their use in end-use indus
Read more

The Ever-Evolving Landscape of the Scottish Whisky Market during the Forecast Period 2019-2027

Image
  Scottish Whisky Market The Scottish Whisky Market is a captivating landscape that has been evolving and transforming over the years. It is a world of tradition, craftsmanship, and heritage, where every drop of whisky tells a story. The history of Scottish whisky traces back centuries, with the earliest records dating back to the 15th century. Whisky production initially started in monasteries, where monks distilled spirits for medicinal purposes. Over time, whisky production moved from monastic settings to farms and then to commercial distilleries. This transition marked the beginning of an industry that would become synonymous with Scotland. Scottish Whisky Market Was Valued At US$ 4.97 Bn In 2018, And It Is Expected To Reach US$ 7.89 Bn By The End Of 2027, Exhibiting A CAGR Of 5.3% During The Forecast Period (2019 To 2027). One of the defining characteristics of the Scottish Whisky Market is its adherence to traditional production methods. Scotch whisky is made from malted b
Read more