Bio-Compatible Battery Market 2020 - Industry Share, Size, Top Manufacturers, Growth Factors
The term biocompatible means quality of not having toxic or injurious effects on biological systems. More generally, biocompatibility encompasses materials that are non-toxic and biodegradable inside or outside of the body.
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Bio-compatible batteries are non-hazardous alternative to lithium-ion batteries and can be used to develop medical devices for the disabled or for efficient drug and gene delivery tools in both research and healthcare industry vertical. It is expected to cure more precisely treat cancers and other medical diseases in the coming future. For instance, in July 2017, researchers at the University of Maryland have invented a bio-compatible battery that produces ion-base electrical energy used by humans and other living beings. This battery uses grass to store its energy. The researchers soaked blades of Kentucky bluegrass in a lithium salt solution. The battery had two glass tubes with a blade of grass inside, each connected by a thin metal wire at the top. It was expected that the wire is where the electrons flow through to move from one end of the battery to the other as the stored energy slowly discharges. In the other glass tube, there resided a metal tip where the ionic current was flowing.
Advances in the development of bio-compatible batteries could potentially help in reducing the environmental impact of batteries in general, by extending their use to other domains besides healthcare such as electronic devices such as smartphones, personal computers, and others. Factors such as increase in demand for non-hazardous battery alternative and rise in investments on bio-compatible batteries by government and private investors act as major drivers for the market growth. However, inefficient power capacities of bio-compatible batteries and high cost associated with the development of these batteries hinder the growth of the market globally. Furthermore, evolution of bio-degradable battery alternatives offers lucrative opportunities for the market.
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The global bio-compatible battery market is analyzed by electrolyte type, application, end user, and geography. On the basis of electrolyte type, the market is categorized into sodium, magnesium, potassium, and others. By application, the market is divided into patient monitoring, diagnosis, smart wearables, and others. On the basis of end user, the market is segmented into automotive, consumer electronics, healthcare, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
The key players profiled in the report include Johnson Controls International, Panasonic, LG Chem, Toshiba Corporation, Tesla Inc., BYD Company Ltd., Hitachi Chemicals, CBAK Energy Technology Inc., Hefei Guoxuan High-tech Power Energy Co., Ltd, and Saft Batteries. These key players have adopted strategies such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration.
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