Medical Batteries Market 2018 Analysis by Growth, Major Manufacturers, Competitive Strategies and Forecast to 2026 ( Ultralife, EaglePicher Technologies, EnerSys )

The global medical batteries market was valued at US$ 2,059.1 million in 2016 and is expected to witness a robust CAGR of 6.4% over the forecast period (2017–2025).
Some major players operating in the medical batteries market are Ultralife Corporation, EaglePicher Technologies LLC, EnerSys, Liberating Technologies, Inc., Panasonic Corporation, Tadiran Batteries Ltd., Saft Groupe S.A., Arotech Corporation, SHENZHEN KAYO BATTERY Co., Ltd, and Vitec Group plc.

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Batteries are becoming increasingly significant in improving the overall safety, performance, and reliability of many medical devices. Increasing demand for battery powered instruments and devices is expected to lead to increasing demand for medical batteries, due to advancement in surgical procedure to provide more precision. Medical batteries are classified into implantable devices batteries and non-implantable batteries. The use of medical batteries is increasing significantly especially in implantable medical devices such as pacemakers, cardioveter defibrillator, neurostimulators batteries, and cochlear batteries; and non-implantable devices such as diagnostic imaging device, patient monitoring device, critical care support, and in vitro diagnostics instrument. This is expected to aid in growth of the market.

Market Dynamics

Increasing prevalence of heart disease is also expected to favor growth of the medical batteries market, as it leads to increasing demand for pacemakers and cardioverter defibrillator that are powered by the batteries. According to World Health Organization (WHO), CVDs are the major cause of death globally, and more people die annually from CVDs. In 2015, it was estimated that 17.7 million people died from CVDs, representing 31% of all the deaths, globally. Of these, an estimated 7.4 million were due to coronary heart disease and 6.7 million were due to stroke. Therefore, demand for cardiac implantable devices such as pacemaker, defibrillators, which are powered by medical batteries is increasing, in turn fueling growth of the market.

Furthermore, increasing awareness regarding fitness is expected to drive the usage of batteries in wearable devices, which also supports growth of the medical batteries market.

Key features of the study:

This report provides an in-depth analysis of global medical batteries market provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017–2025), considering 2016 as the base year.
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players.

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Detailed Segmentation:

Global Medical Batteries Market, By Usage:

Implantable Devices Batteries

Pacemakers Batteries
Implantable Cardioverter Defibrillator
Neurostimulators Batteries
Cochlear Batteries
Infusion Pumps
Other Implantable Batteries

Non-Implantable Devices Batteries

Diagnostic Imaging Device Batteries
Patient Monitoring Device Batteries
Critical Care Support Batteries
In vitro Diagnostics Instrument Batteries
Therapeutic Devices
Prosthetic Device Batteries
Other 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
Clinics
Diagnostic Centers
Home Care Settings
Other End User

Global Medical Batteries market, By Geography:

North America
U.S.
Canada
Asia Pacific
Latin America
Middle East
Africa

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This release was published on openPR.