Medical Batteries Market Likely to Enjoy Explosive Latest Development by 2025 | Ultralife Corporation, EaglePicher Technologies, EnerSys

Rising incidence of cardiovascular diseases and chronic diseases is influencing rapid advancements and innovation in medical devices for prevention and treatment, such as defibrillators and pacemakers. This increase in prevalence is enabling the development of portable, long-life efficient batteries, primarily in patient monitoring devices such as hemodynamic, glucometers, cardiac, fetal & neonatal, neuro, respiratory, temperature, weight, multi-parameter, and remote patient monitoring devices, which is expected to propel the global medical batteries market growth over the forecast period.

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Key Players in This Report Include 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.

Producers of medical batteries are focused on innovative product releases to extend their product portfolios and meet rising battery demand. For instance, MED-EL, a supplier of hearing implant devices, in September 2017 released the first cochlear implant audio processor with wireless charging. The wireless charging allows users to charge their implants for 18 hours each four-hour charge, giving them a full day of hearing from a single overnight charge. Vitec Group, a manufacturer of portable power solutions for the healthcare business, released the Elora battery system in May 2014.

The Elora battery system is a 240Wh lithium-ion battery that offers scalable and flexible battery management systems for point-of-care technologies, especially for mobile workstations such as medical carts. Moreover, Panasonic Corporation launched a pin-shaped lithium-ion battery in October 2014. The pin-shaped battery is a small cylinder-shaped rechargeable lithium-ion battery, and it is ideal for powering small equipment such as medical and wearable devices. Manufacturers are concentrating on growing their presence in the medical batteries market with mergers and acquisitions, which is expected to propel the global medical batteries growth over the forecast period.

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For instance, in January 2016, Ultralife Corporation acquired Accutronics Ltd. for an US$ 11 million cash deal, Accutronics ltd. designs, develops, and manufactures smart batteries and chargers for devices such as endoscopy, cardiopulmonary care, ventilators, oxygen concentration, anesthesia, aspiration, digital imaging, and patient monitoring. Moreover, EaglePicher Technologies LLC acquired Lithiumstart Inc. in February 2017. Lithiumstart offers lithium-ion battery management, safety, and energy conversion technologies.

Due to growing incidence of cardiovascular disease, the global medical batteries market is expected to witness a CAGR of 6.4 % during the forecast period of 2017 to 2025. The Asia Pacific market is expected to develop rapidly in terms of value during the forecast period, as medical battery manufacturers engage in merger and acquisition operations to develop their market in the region.

The lithium batteries segment is expected to grow at the highest rate among battery type segments, with a CAGR of 7.6 % during the forecast period, owing to the high energy density, voltage, and notable features of lithium battery systems, which make them a strong battery type recommended for implantable medical devices.

The global medical batteries market is defined by a growing market in Europe, North America, and the Asia Pacific which is expected to achieve significant market revenue as the number of acquisitions increases. for instance, In November 2013, EnerSys acquired Energy Leader Batteries India Pvt Ltd. Furthermore, the acquisitions allow EnerSys to regionally expand its medical battery portfolio throughout the Asia Pacific.

Key players in the global medical batteries market include Arotech Corporation, EnerSys, Tadiran Batteries limited., Vitec Group plc., Liberating Technologies, Shenzhen Kayo Battery Co. Limited, EaglePicher Technologies LLC, Saft Group S.A., Ultralife Corporation, and Panasonic Corporation.

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Medical Batteries Market research provides answers to the following key questions:

• What is the expected growth rate of the Medical Batteries Market?

• What will be the Medical Batteries Market size for the forecast period, 2021–2028?

• What are the main driving forces responsible for changing the Medical Batteries Market trajectory?

• Who are the big suppliers that dominate the Medical Batteries Market across different regions? Which are their wins to stay ahead in the competition?

• What are the Medical Batteries Market trends business owners can rely upon in the coming years?

• What are the threats and challenges expected to restrict the progress of the Medical Batteries Market across different countries?

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