Medical Batteries Market
Medical Batteries Market Forecasts to 2030 - Global Analysis By Battery Type (Lithium Batteries, Alkaline Batteries, Zinc Air Batteries, Nickel Metal Hydride Batteries and Other Battery Types), Capacity, Application, Portable & Wearable Medical Device, End User and by Geography
|
Years Covered |
2022-2030 |
|
Estimated Year Value (2024) |
US $1.61 BN |
|
Projected Year Value (2030) |
US $2.46 BN |
|
CAGR (2024 - 2030) |
7.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Medical Batteries Market is accounted for $1.61 billion in 2024 and is expected to reach $2.46 billion by 2030 growing at a CAGR of 7.3% during the forecast period. Medical batteries are specialized power sources made to run a variety of medical equipment and guarantee dependable and consistent performance in vital healthcare environments. Pacemakers, defibrillators, infusion pumps, hearing aids, and diagnostic equipment can all be powered by these batteries because they are designed to meet stringent safety, longevity, and durability standards. Medical batteries are available in a variety of chemistries, such as zinc-air, nickel-metal hydride, and lithium-ion, each with unique benefits depending on the device's power and usage requirements.
Market Dynamics:
Driver:
Growing rate of chronic illnesses
The prevalence of chronic illnesses, including diabetes, respiratory conditions, and cardiovascular diseases, is rising globally. Globally, chronic diseases cause about 71% of all deaths, according to the World Health Organization (WHO). Battery-operated medical devices are in higher demand as a result of this growing prevalence, which calls for ongoing management and observation. Cutting-edge medical batteries are necessary because devices like cardiac monitors and continuous glucose monitors (CGMs) depend on stable power sources to operate.
Restraint:
Exorbitant prices for medical batteries
The need for premium materials and sophisticated manufacturing techniques drives up the cost of producing medical batteries. Strict safety requirements pertaining to longevity, quality, and dependability must be met by medical batteries. Because of this requirement, the already costly and volatile raw materials like cobalt, lithium, and other specialty chemicals become even more expensive. In order to reduce the need for frequent replacements and guarantee the continuous operation of medical equipment, medical batteries are also made with longer life cycles than consumer batteries.
Opportunity:
Developments in battery technologies
The market for medical batteries offers a number of prospects for innovation and expansion due to ongoing research and development in battery technologies, including solid-state, lithium-ion, and lithium-sulfur systems. The goal of these developments is to make medical batteries lighter and smaller while improving their energy density, safety, and lifespan. Moreover, as an alternative to conventional lithium-ion batteries, metal-ion battery chemistries such as those made of calcium, magnesium, potassium, and sodium have been developed. More sophisticated, dependable, and efficient medical devices that better meet patient needs will be made possible as these technologies develop and become economically viable.
Threat:
Supply chain weaknesses
The market for medical batteries depends heavily on a steady supply chain for essential raw materials like nickel, cobalt, and lithium. The supply of these vital components can be disrupted by geopolitical tensions, trade restrictions, and environmental regulations, which can raise costs and cause production delays. For example, recent events around the world have brought attention to weaknesses in these materials' supply chains, which have led to notable price swings and shortages. Additionally, these interruptions may make it more difficult for producers to supply the market with medical batteries, which could have an impact on patient care and the accessibility of devices.
Covid-19 Impact:
The COVID-19 pandemic had a profound effect on the market for medical batteries and created an unprecedented demand for devices that run on batteries. Hospitals needed dependable power sources more than ever because of the increase in patients, especially those in need of ventilators and other life support equipment. Because of this circumstance, the use of portable and remote monitoring devices increased as medical professionals looked for ways to reduce in-person interactions and improve patient care management. Furthermore, the need for medical batteries was further stimulated by the growing emphasis on telehealth and home healthcare solutions, as gadgets like wearable health monitors and pulse oximeters became indispensable for patient care.
The 600 Mah Or Below segment is expected to be the largest during the forecast period
In the medical batteries market, the segment of batteries with a capacity of 600 mAh or below holds the largest share. The main cause of this dominance is the widespread use of small, battery-operated medical devices like glucose monitors, portable diagnostic tools, and hearing aids. Reliability and efficiency are crucial, and these devices are becoming more and more important in both home healthcare and hospital settings. Moreover, the increased demand for these small batteries is indicative of a larger trend in medical technology toward miniaturization, which makes it possible for more patients to have access to essential health monitoring tools that improve their care quality and enable remote health management.
The Ambulatory Care Centers segment is expected to have the highest CAGR during the forecast period
The medical batteries market's highest CAGR is anticipated for the ambulatory care centers segment. This expansion is due to patients' growing preference for outpatient care, which is more convenient and less expensive than traditional hospital settings. Ambulatory care centers are becoming indispensable for delivering diagnostic and surgical services that need dependable battery-powered medical devices as healthcare systems move toward less intrusive and more efficient treatment options. Furthermore, in these centers, the increasing use of portable medical equipment and the rise in minimally invasive procedures require advanced battery solutions to guarantee patient safety and continuous operation.
Region with largest share:
Due in large part to the rapid advancements in medical technology and the increasing need for dependable power sources in healthcare settings, the North American region currently holds the largest market share for medical batteries. North America held a sizable share of the market in 2023, and forecasts foresee further growth because of the growing sophistication and portability of medical devices used in ambulatory care facilities, hospitals, and home healthcare. Moreover, the demand for battery-powered medical devices is further fueled by the region's dedication to integrating cutting-edge technologies, as well as by an aging population and an increase in the prevalence of chronic diseases.
Region with highest CAGR:
Over the course of the forecast period, the medical batteries market is expected to grow at the highest CAGR in the Asia Pacific region. Rapid economic development, rising healthcare costs, and an increase in the prevalence of chronic illnesses in nations like China and India are the main causes of this growth. This trend is further supported by the increased awareness of cutting-edge medical treatments and the necessity of effective healthcare delivery systems. The Asia Pacific region is also a key area for future growth in the medical battery industry because of its large population and rising public health initiatives. Manufacturers of medical batteries can take advantage of these opportunities to meet the growing needs of the market.
Key players in the market
Some of the key players in Medical Batteries market include Panasonic Holdings Corporation, Duracell Inc., Tadiran Batteries Ltd., Celltech Group, Arotech Corporation, EnerSys, Saft Group, EaglePicher Technologies, LLC, KAYO Battery Company Limited, Ultralife Corporation, Boston Scientific Corporation, Varta AG, Toshiba Corporation, Maxell, Ltd. and Videndum plc.
Key Developments:
In July 2024, Panasonic Corporation announced that its Cold Chain Solutions Company has entered into an agreement with Cooling Solutions S.L. to purchase all the shares of its subsidiary Area Cooling Solutions Sp. z o.o. , a Polish refrigeration equipment manufacturer.
In May 2024, EnerSys, the global leader in stored energy solutions for industrial applications, announced it has entered into a definitive agreement to acquire Bren-Tronics, Inc. in an all-cash transaction of $208 million. The purchase price represents approximately 8.7x Bren-Tronics’ adjusted EBITDA for the twelve months.
In February 2024, Toshiba Energy Systems and Solutions Corporation and Bekaert, have entered into a global partnership which includes a strategic cooperation agreement, and a manufacturing technology license for Membrane Electrode Assemblies (MEA), a key component for Proton Exchange Membrane (PEM) electrolyzers that will help to accelerate the advance towards green hydrogen production.
Battery Types Covered:
• Lithium Batteries
• Alkaline Batteries
• Zinc Air Batteries
• Nickel Metal Hydride Batteries
• Other Battery Types
Capacities Covered:
• 600 Mah Or Below
• 600 - 1,200 Mah
• 1,200 Mah Or More
Applications Covered:
• Implantable Medical Device
• Non-Implantable Medical Device
• Other Applications
Portable & Wearable Medical Devices Covered:
• Blood Glucose Monitors
• Health & fitness Tracker
• External Defibrillators
• Wearable Defibrillators
• Oxygen Concentrators
• Portable Diagnostic Devices
• Respiratory Monitoring Devices
• Insulin Pumps
• Other Portable & Wearable Medical Devices
End Users Covered:
• Hospital & Surgical Centers
• Ambulatory Care Centers
• Medical device Manufacturers
• Clinics & Imaging Center
• Home care & DME Shops
• Research Institutes
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Medical Batteries Market, By Battery Type
5.1 Introduction
5.2 Lithium Batteries
5.2.1 Li Metal Batteries
5.2.2 Li-ion Batteries
5.3 Alkaline Batteries
5.4 Zinc Air Batteries
5.5 Nickel Metal Hydride Batteries
5.6 Other Battery Types
6 Global Medical Batteries Market, By Capacity
6.1 Introduction
6.2 600 Mah Or Below
6.3 600 - 1,200 Mah
6.4 1,200 Mah Or More
7 Global Medical Batteries Market, By Application
7.1 Introduction
7.2 Implantable Medical Device
7.2.1 Cardiac Pacemakers
7.2.2 Defibrillators
7.2.3 Cochelear Implants
7.2.4 Implantable Drug Delivery Devices
7.2.5 Implantable Neuromonitoring devices
7.2.6 Other Implantable Devices
7.3 Non-Implantable Medical Device
7.3.1 Patient Monitoring Devices
7.3.2 Medical Imaging Systems
7.3.3 Infusion pumps
7.3.4 Powered surgical Tools
7.3.5 Electric Wheelchairs
7.3.6 Hospital Beds
7.3.7 Energy Based asthetic Devices
7.3.8 Other Non-Implantable Medical Devices
7.4 Other Applications
8 Global Medical Batteries Market, By Portable & Wearable Medical Device
8.1 Introduction
8.2 Blood Glucose Monitors
8.3 Health & fitness Tracker
8.4 External Defibrillators
8.5 Wearable Defibrillators
8.6 Oxygen Concentrators
8.7 Portable Diagnostic Devices
8.8 Respiratory Monitoring Devices
8.9 Insulin Pumps
8.10 Other Portable & Wearable Medical Devices
9 Global Medical Batteries Market, By End User
9.1 Introduction
9.2 Hospital & Surgical Centers
9.3 Ambulatory Care Centers
9.4 Medical device Manufacturers
9.5 Clinics & Imaging Center
9.6 Home care & DME Shops
9.7 Research Institutes
9.8 Other End Users
10 Global Medical Batteries Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 Panasonic Holdings Corporation
12.2 Duracell Inc.
12.3 Tadiran Batteries Ltd.
12.4 Celltech Group
12.5 Arotech Corporation
12.6 EnerSys
12.7 Saft Group
12.8 EaglePicher Technologies, LLC
12.9 KAYO Battery Company Limited
12.10 Ultralife Corporation
12.11 Boston Scientific Corporation
12.12 Varta AG
12.13 Toshiba Corporation
12.14 Maxell, Ltd.
12.15 Videndum plc
List of Tables
1 Global Medical Batteries Market Outlook, By Region (2022-2030) ($MN)
2 Global Medical Batteries Market Outlook, By Battery Type (2022-2030) ($MN)
3 Global Medical Batteries Market Outlook, By Lithium Batteries (2022-2030) ($MN)
4 Global Medical Batteries Market Outlook, By Li Metal Batteries (2022-2030) ($MN)
5 Global Medical Batteries Market Outlook, By Li-ion Batteries (2022-2030) ($MN)
6 Global Medical Batteries Market Outlook, By Alkaline Batteries (2022-2030) ($MN)
7 Global Medical Batteries Market Outlook, By Zinc Air Batteries (2022-2030) ($MN)
8 Global Medical Batteries Market Outlook, By Nickel Metal Hydride Batteries (2022-2030) ($MN)
9 Global Medical Batteries Market Outlook, By Other Battery Types (2022-2030) ($MN)
10 Global Medical Batteries Market Outlook, By Capacity (2022-2030) ($MN)
11 Global Medical Batteries Market Outlook, By 600 Mah Or Below (2022-2030) ($MN)
12 Global Medical Batteries Market Outlook, By 600 - 1,200 Mah (2022-2030) ($MN)
13 Global Medical Batteries Market Outlook, By 1,200 Mah Or More (2022-2030) ($MN)
14 Global Medical Batteries Market Outlook, By Application (2022-2030) ($MN)
15 Global Medical Batteries Market Outlook, By Implantable Medical Device (2022-2030) ($MN)
16 Global Medical Batteries Market Outlook, By Cardiac Pacemakers (2022-2030) ($MN)
17 Global Medical Batteries Market Outlook, By Defibrillators (2022-2030) ($MN)
18 Global Medical Batteries Market Outlook, By Cochelear Implants (2022-2030) ($MN)
19 Global Medical Batteries Market Outlook, By Implantable Drug Delivery Devices (2022-2030) ($MN)
20 Global Medical Batteries Market Outlook, By Implantable Neuromonitoring devices (2022-2030) ($MN)
21 Global Medical Batteries Market Outlook, By Other Implantable Devices (2022-2030) ($MN)
22 Global Medical Batteries Market Outlook, By Non-Implantable Medical Device (2022-2030) ($MN)
23 Global Medical Batteries Market Outlook, By Patient Monitoring Devices (2022-2030) ($MN)
24 Global Medical Batteries Market Outlook, By Medical Imaging Systems (2022-2030) ($MN)
25 Global Medical Batteries Market Outlook, By Infusion pumps (2022-2030) ($MN)
26 Global Medical Batteries Market Outlook, By Powered surgical Tools (2022-2030) ($MN)
27 Global Medical Batteries Market Outlook, By Electric Wheelchairs (2022-2030) ($MN)
28 Global Medical Batteries Market Outlook, By Hospital Beds (2022-2030) ($MN)
29 Global Medical Batteries Market Outlook, By Energy Based asthetic Devices (2022-2030) ($MN)
30 Global Medical Batteries Market Outlook, By Other Non-Implantable Medical Devices (2022-2030) ($MN)
31 Global Medical Batteries Market Outlook, By Other Applications (2022-2030) ($MN)
32 Global Medical Batteries Market Outlook, By Portable & Wearable Medical Device (2022-2030) ($MN)
33 Global Medical Batteries Market Outlook, By Blood Glucose Monitors (2022-2030) ($MN)
34 Global Medical Batteries Market Outlook, By Health & fitness Tracker (2022-2030) ($MN)
35 Global Medical Batteries Market Outlook, By External Defibrillators (2022-2030) ($MN)
36 Global Medical Batteries Market Outlook, By Wearable Defibrillators (2022-2030) ($MN)
37 Global Medical Batteries Market Outlook, By Oxygen Concentrators (2022-2030) ($MN)
38 Global Medical Batteries Market Outlook, By Portable Diagnostic Devices (2022-2030) ($MN)
39 Global Medical Batteries Market Outlook, By Respiratory Monitoring Devices (2022-2030) ($MN)
40 Global Medical Batteries Market Outlook, By Insulin Pumps (2022-2030) ($MN)
41 Global Medical Batteries Market Outlook, By Other Portable & Wearable Medical Devices (2022-2030) ($MN)
42 Global Medical Batteries Market Outlook, By End User (2022-2030) ($MN)
43 Global Medical Batteries Market Outlook, By Hospital & Surgical Centers (2022-2030) ($MN)
44 Global Medical Batteries Market Outlook, By Ambulatory Care Centers (2022-2030) ($MN)
45 Global Medical Batteries Market Outlook, By Medical device Manufacturers (2022-2030) ($MN)
46 Global Medical Batteries Market Outlook, By Clinics & Imaging Center (2022-2030) ($MN)
47 Global Medical Batteries Market Outlook, By Home care & DME Shops (2022-2030) ($MN)
48 Global Medical Batteries Market Outlook, By Research Institutes (2022-2030) ($MN)
49 Global Medical Batteries Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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