Press release
Rising Medical Device Demand Boosts Medical Battery Market Growth: An Emerging Driver Transforming The Medical Batteries Market Landscape
Medical Batteries
What Is the Projected Growth of the Medical Batteries Market?
The medical batteries market size will grow from $1.75 billion in 2024 to $1.87 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to the rising demand for portable medical devices, the growing prevalence of chronic diseases, expanding healthcare infrastructure, the increasing demand for long-lasting batteries, and the growing aging population.
The medical batteries market is expected to grow to $2.4 billion in 2029 at a CAGR of 6.5%. The growth is attributed to the adoption of telemedicine, home healthcare, increasing regulatory approvals for advanced devices, rising R&D investments in solid-state batteries, and more usage in electric wheelchairs. Trends include the
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What Are the Different Medical Batteries Market Segments?
The medical batteriesmarket covered in this report is segmented -
1) By Battery Type: Lithium-ion Batteries, Nickel-Metal Hydride (NiMH) Batteries, Alkaline Batteries, Zinc-Air Batteries, Other Battery Type
2) By Application: Implantable Medical Devices, Non-implantable Medical Devices, Portable And Wearable Medical Devices
3) By End-User: Hospitals And Clinics, Home Healthcare Settings, Ambulatory Surgical Centers, Research Institutes
Subsegments:
1) By Lithium-ion Batteries: Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Manganese Oxide (LMO), Lithium Nickel Cobalt Aluminum Oxide (NCA)
2) By Nickel-Metal Hydride (NiMH) Batteries: Standard NiMH Batteries, Low Self-Discharge NiMH Batteries
3) By Alkaline Batteries: Standard Alkaline Batteries, Rechargeable Alkaline Batteries
4) By Zinc-Air Batteries: Hearing Aid Zinc-Air Batteries, Medical Device Zinc-Air Batteries
5) By Other Battery Types: Lead-Acid Batteries, Silver-Oxide Batteries, Lithium Polymer (LiPo) Batteries
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What Are the Primary Drivers Shaping the Medical Batteries Market?
The growing demand for medical devices is expected to foster the medical batteries market. Medical devices, which are essential for diagnosing, treating, and monitoring medical conditions, are in high demand due to aging populations and rising chronic diseases. Medical batteries power various medical devices, ensuring reliable operation. Abbott Laboratories reported a rise in medical device sales from $14.485 billion in 2021 to $16.887 billion in 2023. As the demand for medical devices increases, it is driving the growth of the medical batteries market.
Which Companies Are Leading in the Medical Batteries Market?
Major companies operating in the medical batteries market are TotalEnergies SE, Panasonic Corporation, 3M Company, Merck KGaA, Texas Instruments Incorporated, STMicroelectronics NV, Murata Manufacturing Co. Ltd., EnerSys Inc., Energizer Holdings Inc., Renata AG SA, VARTA Microbattery GmbH, Vitec Group PLC, EaglePicher Technologies LLC, Ultralife Corporation, Probo Medical LLC, Camelion Battery Co. Ltd., Maxim Integrated Products Inc., Tadiran Batteries Ltd., Blue Spark Technologies Inc., KAYO Battery Company Limited
What Are the Latest Developing Trends in the Medical Batteries Market?
Major Companies in the medical batteries market are focusing on developing lithium-ion medical batteries to enhance the performance and safety of medical devices. In January 2022, Resonetics, LLC, a US-based medical technology company, introduced the Contego 1.5 mAh lithium-ion battery, the smallest rechargeable battery in the medical industry, specifically designed for implantable devices.
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What Are the Top Revenue-Generating Geographies in the Medical Batteries Market?
North America was the largest region in the medical batteries market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Batteries Market?
2. What is the CAGR expected in the Medical Batteries Market?
3. What Are the Key Innovations Transforming the Medical Batteries Industry?
4. Which Region Is Leading the Medical Batteries Market?
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