Massive Outlay of Micro Battery Market Will Make Great Impact By Top Key Players Including Panasonic Corporation, VARTA AG, Murata Manufacturing Co. Ltd., Energizer Holdings Inc. & Seiko Holdings Corporation

In 2018, the global micro battery market reached a value of $418.2 million and is projected to grow at a 18.4% CAGR during the forecast period (2019–2024).

The factors contributing to the growth of the market include the growing usage of compact batteries in the healthcare sector, rising adoption of wearable devices, and surging usage of internet of things (IoT) in medical devices.

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In terms of battery type, the micro battery market is divided into SR (silver oxide), LR (alkaline), CR (lithium), and others (which include vanadium rechargeable lithium battery (VL series), rechargeable lithium battery (ML series), and zinc air battery).

The technological advancements have led to the development of internet of things (IoT), which has proven to be immensely helpful across various industries, such as healthcare. As the incidence of chronic diseases is increasing rapidly across the globe, the healthcare industry is feeling the need for more advanced, accurate, and faster diagnosis and monitoring.

From bulky and time-consuming machines, the industry has come way ahead with the development of wearable and portable medical devices. Besides helping in accurate diagnosis and monitoring of patients, these devices have also helped in reducing the healthcare cost.

The International Diabetes Federation mentioned that in 2015, about 415 million people across the world suffered from diabetes.

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This indicates the dire need for the diagnosis of the disease and the requirement for continuous monitoring of patients.

To provide patients a complete healthcare solution, medical devices, such as insulin pumps, are being integrated with IoT. This integration of the technology with the devices help physicians in remote monitoring of patients, which would provide caregivers with real-time information of patients.

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Further, the technology would also enable devices to monitor physiological parameters and even calculate the required medication dose. These devices are miniaturized and make use of micro batteries as their power source, and the popularity of these devices are aiding the growth of micro battery market globally.

MICRO BATTERY MARKET SEGMENTATION

By Type
LR (Alkaline)
SR (Silver Oxide)
CR (Lithium)
Others

By Capacity

100 mAh

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