Medical Batteries Market to Reach $2.4 Billion Globally by 2032 at 5.3% CAGR

According to the report, the global medical batteries market generated $1.4 billion in 2022, and is anticipated to generate $2.4 billion by 2032, witnessing a CAGR of 5.3% from 2023 to 2032.

The increasing demand for portable and remote monitoring equipment, particularly fueled by the rising emphasis on at-home healthcare solutions, is driving the market's growth. Additionally, the rising trend towards miniaturization of medical devices and advancements in battery technology are further fueling the market's growth. However, the increasing concerns related to the size, weight, and potential issues such as leakage or rupture in medical batteries pose challenges, restraining the market's growth during the forecast period. On the other hand, the rising trend towards wearable healthcare technology, coupled with the growing demand for advanced medical batteries in remote patient monitoring systems is expected to unlock rewarding growth opportunities in the global medical batteries market.

Request Sample of the Report on -

https://www.alliedmarketresearch.com/request-sample/A08391

Battery Type: Lithium-ion Batteries Sub-Segment to Grow with Highest CAGR by 2032

The lithium-ion batteries sub-segment dominated the market in 2022, holding a major share of 48.0%. This dominance is expected to continue till 2032, growing with a CAGR of 5.7%. This growth is mainly due to the increasing demand for rechargeable solutions, which reduce operational costs and environmental impact. Moreover, lithium-ion batteries play a crucial role in providing a steady voltage output vital for precise and continuous operation of various medical devices.

Application: Implantable Medical Devices Sub-Segment to Hold Leading Market Share by 2032

The implantable medical devices sub-segment led the market in 2022, holding a substantial share of 50.9%. This sub-segment is expected to hold a leading market share of 49.8% by 2032. The growth of the sub-segment is mainly because of the increasing demand for advanced battery technology to enhance the efficiency of implantable devices in delivering personalized healthcare solutions.

End User: Hospitals & Clinics Sub-Segment Expected to Grow with Highest CAGR by 2032

The hospitals & clinics sub-segment dominated the global medical batteries market share in 2022, holding a major share of 45.5%. This dominance is expected to continue by 2032, growing with CAGR of 5.8%. This growth is mainly because of the increasing demand for medical batteries, driven by rising healthcare technology advancements, growing emphasis on sustainability, and the continuous need for uninterrupted power supply in critical healthcare settings.

By Region: North America to Hold the Significant Market Share in Forecast Period

The North America region dominated the global medical batteries market in 2022, holding a major share of 38.3%. The dominance of this region is expected to continue by 2032, holding a major share of 39.1%. This is mainly due to increasing demand for portable medical devices, rising prevalence of chronic illnesses, and a surge in telemedicine adoption. The region's commitment to advancing healthcare technologies and its ability to embrace remote patient monitoring are key factors boosting North America's dominance in the global medical batteries market.

For Procurement Information -

https://www.alliedmarketresearch.com/purchase-enquiry/A08391

Leading Players in the Medical Batteries Market:

EnerSys

EaglePicher Technologies, LLC
Saft
Ultralife Corporation
Panasonic Corporation
KAYO Battery (Shenzhen) Company Limited
Videndum plc.
Liberating Technologies, Inc.
Arotech
Tadiran Batteries Ltd.

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Toll Free: +1-800-792-5285
Int'l: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

This release was published on openPR.