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LI24019191 |
Pages: 300 |
Jan 2024 |
Medical batteries are essential in the healthcare sector, as they power a variety of medical devices that are necessary for modern diagnosis and treatment. These specialized power sources are built to fulfil the demands of medical applications, providing dependability, safety, and longevity. Medical batteries ensure the smooth operation of vital healthcare equipment ranging from pacemakers to portable diagnostic gadgets. Medical batteries are widely used in various medical devices, including implanted medical devices, diagnostic equipment, wearable health monitoring, and portable therapy devices. Implantable medical devices such as pacemakers and cardiac arrest devices are excellent examples of medical battery’s significance.
To ensure ongoing and uninterrupted performance, these life-saving gadgets rely on small and dependable batteries. The advancement of medical batteries has not only improved the performance of present gadgets, but it has also opened the way for the development of previously impractical innovative technologies. Medical batteries are distinguished from commercial counterparts by their dependability, safety, and adherence to high regulatory standards. In healthcare applications, where device failure can have life-threatening repercussions, reliability is non-negotiable. Medical batteries are intended to offer a reliable and continuous power source over long periods of time.
Global Medical Batteries Market Analysis
The global medical batteries market size was $1,432.6 million in 2022 and is predicted to grow with a CAGR of 5.3%, by generating a revenue of $2,395.9 million by 2032.
Source: Research Dive Analysis
There was an increase in the usage of medical batteries due to the increasing demand for medical devices during the pandemic. Globally, hospitals and healthcare institutions saw an extraordinary surge of patients, notably those suffering with COVID-19. The demand for diagnostic devices, ventilators, and other life support systems increased dramatically, putting a significant strain on the availability of medical batteries.
Furthermore, the trend towards remote healthcare solutions, driven by the desire to limit physical contact and the stress on healthcare facilities, has increased the application of medical batteries. To ensure ongoing and uninterrupted operation, remote patient monitoring devices, wearable health technologies, and telemedicine platforms rely mainly on reliable and long-lasting batteries. This tendency is expected to continue beyond the pandemic's immediate impact, as remote healthcare becomes a fundamental component of the healthcare landscape.
Battery advancements have considerably enhanced the performance of medical equipment, resulting in longer battery life and higher energy economy. The constant pursuit of innovation by manufacturers to solve the issues raised by the medical industry is one of the primary drivers. Extended battery life is crucial for medical devices because it directly benefits patient care, lowers the frequency of battery changes, and improves overall equipment dependability. In addition, developments in battery management systems have been critical in optimizing energy use. These systems are meant to monitor and manage numerous characteristics such as voltage, temperature, and charge/discharge cycles, assuring energy efficiency and improving the battery's total lifespan. Medical equipment can offer consistent performance while reducing the risk of unexpected failures by using sophisticated battery management.
Energy efficiency in medical batteries is about more than just prolonging battery life; it is also about maximizing energy stored and used in a sustainable way. This method is especially crucial for wearable medical devices and implanted sensors, which depend on small and lightweight batteries. Energy efficiency has resulted in the development of power-efficient components, low-power electronics, and enhanced charging methods, all of which contribute to a more sustainable and eco-friendly healthcare ecosystem.
The short lifespan of battery technology is a major limitation in managing and administrating medicinal batteries. Regardless of advances in battery chemistry, all batteries degrade gradually over time, resulting in decreasing capacity and efficiency. This decline offers a possible risk to patient care in medical equipment, where dependability is critical. Regular battery replacement becomes necessary, increasing financial and logistical difficulties to healthcare organizations.
Healthcare facilities frequently have a variety of equipment, each with its own set of battery types, charging techniques, and maintenance procedures. The absence of standardized battery technology among medical devices adds to the complexity of administering these systems for healthcare providers. This variety may result in battery replacement errors, compromising patient safety and device operation.
The potential of smart BMS (battery management systems) to optimize the performance of medical batteries is one of the significant factor driving its adoption. Traditional batteries used in medical equipment frequently have issues such as inadequate power, irregular discharge cycles, and general performance loss over time. These difficulties are addressed by smart BMS, which continually monitors and manages the battery's properties such as voltage, current, and temperature. This real-time monitoring enables exact management of the battery's energy output, assuring a consistent and reliable power supply for medical equipment. Furthermore, smart BMS integration gives improved diagnostic capabilities.
The BMS technology offers extensive information on the battery's health, predicting future failures and warning healthcare providers before a severe condition occurs. This proactive maintenance method not only reduces downtime for medical equipment, but also guarantees that batteries are changed or serviced on a regular basis, avoiding any dangers to patients. Medical equipment frequently operates in hazardous conditions where dependability and safety are crucial factors. Smart BMS can actively avoid dangerous circumstances by monitoring battery characteristics and taking corrective steps, such as disconnecting the battery if an abnormality is detected. This proactive safety system decreases the danger of mishaps while also assuring the safety of patients and the integrity of medical equipment.
Source: Research Dive Analysis
The lithium-ion batteries sub-segment accounted for the highest market share in 2022. The high energy density of lithium-ion batteries is one of the key factors driving their use in medical applications. Lithium-ion batteries have a high energy-to-weight ratio, allowing them to store a significant amount of energy while being small and lightweight. This feature is especially useful for portable medical equipment, where minimizing weight and size is critical for user ease and mobility. From portable diagnostic instruments to wearable health monitoring gadgets, lithium-ion batteries allow medical practitioners to use complex technology without being constrained by hefty power sources, allowing for better patient care and diagnostic capabilities.
Furthermore, lithium-ion batteries have a long cycle life, allowing them to go through several charge and discharge cycles without significantly degrading performance. This feature is critical for medical equipment that may be used often or require a quick reaction time. Emergency medical equipment, such as defibrillators, rely on lithium-ion batteries to provide quick and dependable power when it is required. The lengthy cycle life guarantees that these important devices are always available for use, helping to improve the efficiency and efficacy of emergency medical operations.
Source: Research Dive Analysis
The implantable medical devices sub-segment accounted for the highest market share in 2022. Because of the limited space within the human body, implantable medical devices require compact and lightweight power sources. Advanced medical batteries are built with miniaturization in mind, allowing manufacturers to effortlessly incorporate them into smaller devices without sacrificing energy storage or longevity. This miniaturization is driving the increased usage of implanted devices in a variety of medical applications.
Implantable medical devices are designed for long-term usage, and they frequently require a reliable and long-lasting power supply to ensure uninterrupted performance. Lithium-ion and solid-state medical batteries, for example, have a longer lifespan and greater durability. This lifespan is critical for lowering the frequency of battery changes, minimizing intrusive procedures for patients, and boosting overall device reliability. Medical batteries' energy density and power output are critical in meeting the high energy demands of implanted devices. As technology progresses, more energy density batteries become accessible, allowing for the creation of gadgets with more sophisticated features and capabilities. This increasing power output helps to the efficacy of medicines delivered by implanted medical devices, ensuring that they satisfy changing demands of patients and healthcare professionals.
Source: Research Dive Analysis
The hospitals & clinics sub-segment accounted for the highest market share in 2022. Hospitals and clinics need to be prepared for power outages and emergencies. Medical batteries serve as dependable backup power sources for important equipment, ensuring that life-saving devices such as ventilators, defibrillators, and anesthesia machines remain functioning in the event of a power outage. Hospitals and clinics operate around the clock, and any downtime due to power concerns may have a substantial impact on patient care and workflow. Medical batteries eliminate dependency on external power sources, reducing downtime and allowing healthcare personnel to focus on providing timely and efficient services.
High-quality medical batteries help to extend the life of medical gadgets. The ability to produce steady and dependable power aids in the prevention of early device failures, lowering the frequency of replacements and maintenance. This results in cost reductions for healthcare facilities. Medical batteries are essential in emergency circumstances where a quick reaction is required. These batteries power important equipment in mobile medical units, ambulances, and field hospitals, ensuring that emergency medical professionals have the tools they need to offer timely and effective care.
Source: Research Dive Analysis
The North America medical batteries market generated the highest revenue in 2022. North America has historically been a global leader in technical innovation, and the medical battery industry is no exception.. The region is characterized by a solid network of research organizations, universities, and commercial businesses dedicated to advancing the technologies. This relentless pursuit of innovation has resulted in the creation of cutting-edge battery technology tailored precisely to the medical field's increasing demands.
The increasing prevalence of chronic illnesses demands constant patient monitoring and treatment, which is frequently facilitated by medical equipment. This has resulted in an increase in demand for medical batteries that provide extended life, dependability, and connectivity with a wide range of equipment. North American manufacturers have been quick to respond to this need, spurring battery technology innovation to meet the power requirements of numerous medical applications.
Manufacturing facilities, R&D investments are common strategies followed Competitive Scenario in the Global Medical Batteries Market by major market players. For instance, on April 11, 2022, Resonetics announced the acquisition of EaglePicher Technologies' Medical Power business, a leading manufacturer of implantable batteries for critical medical devices based near Vancouver, British Columbia. EaglePicher Medical Power has been designing and manufacturing batteries for medical devices for over 25 years and produced one of the first lithium-ion cells for an implantable medical device. The Vancouver site features a modern 60,000 square foot facility with extensive application engineering resources and manufacturing expertise.
Source: Research Dive Analysis
Some of the leading medical batteries market players are 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.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Battery Type |
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| Segmentation by Application |
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| Segmentation by End-user |
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| Key Companies Profiled |
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1. Research Methodology
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
2. Report Scope
2.1. Market definition
2.2. Key objectives of the study
2.3. Market segmentation
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive Rivalry Intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Legal
4.6.6. Environmental
4.7. Impact of COVID-19 on medical batteries market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
5. Medical Batteries Market Analysis, By Battery Type
5.1. Overview
5.2. Lithium-ion Batteries
5.2.1. Definition, key trends, growth factors, and opportunities
5.2.2. Market size analysis, by region, 2022-2032
5.2.3. Market share analysis, by country, 2022-2032
5.3. Nickel-Metal Hydride (NiMH) Batteries
5.3.1. Definition, key trends, growth factors, and opportunities
5.3.2. Market size analysis, by region, 2022-2032
5.3.3. Market share analysis, by country, 2022-2032
5.4. Alkaline Batteries
5.4.1. Definition, key trends, growth factors, and opportunities
5.4.2. Market size analysis, by region, 2022-2032
5.4.3. Market share analysis, by country, 2022-2032
5.5. Zinc-Air Batteries
5.5.1. Definition, key trends, growth factors, and opportunities
5.5.2. Market size analysis, by region, 2022-2032
5.5.3. Market share analysis, by country, 2022-2032
5.6. Others
5.6.1. Definition, key trends, growth factors, and opportunities
5.6.2. Market size analysis, by region, 2022-2032
5.6.3. Market share analysis, by country, 2022-2032
5.7. Research Dive Exclusive Insights
5.7.1. Market attractiveness
5.7.2. Competition heatmap
6. Medical Batteries Market Analysis, by Application
6.1. Overview
6.2. Implantable Medical Devices
6.2.1. Definition, key trends, growth factors, and opportunities
6.2.2. Market size analysis, by region, 2022-2032
6.2.3. Market share analysis, by country, 2022-2032
6.3. Non-implantable Medical Devices
6.3.1. Definition, key trends, growth factors, and opportunities
6.3.2. Market size analysis, by region, 2022-2032
6.3.3. Market share analysis, by country, 2022-2032
6.4. Portable & Wearable Medical Devices
6.4.1. Definition, key trends, growth factors, and opportunities
6.4.2. Market size analysis, by region, 2022-2032
6.4.3. Market share analysis, by country, 2022-2032
6.5. Research Dive Exclusive Insights
6.5.1. Market attractiveness
6.5.2. Competition heatmap
7. Medical Batteries Market Analysis, by End-user
7.1. Overview
7.2. Hospitals
7.2.1. Definition, key trends, growth factors, and opportunities
7.2.2. Market size analysis, by region, 2022-2032
7.2.3. Market share analysis, by country, 2022-2032
7.3. Home Healthcare Settings
7.3.1. Definition, key trends, growth factors, and opportunities
7.3.2. Market size analysis, by region, 2022-2032
7.3.3. Market share analysis, by country, 2022-2032
7.4. Ambulatory Surgical Centers
7.4.1. Definition, key trends, growth factors, and opportunities
7.4.2. Market size analysis, by region, 2022-2032
7.4.3. Market share analysis, by country, 2022-2032
7.5. Research Institutes
7.5.1. Definition, key trends, growth factors, and opportunities
7.5.2. Market size analysis, by region, 2022-2032
7.5.3. Market share analysis, by country, 2022-2032
7.6. Research Dive Exclusive Insights
7.6.1. Market attractiveness
7.6.2. Competition heatmap
8. Medical Batteries Market, by Region
8.1. North America
8.1.1. U.S.
8.1.1.1. Market size analysis, by Battery Type, 2022-2032
8.1.1.2. Market size analysis, by Application, 2022-2032
8.1.1.3. Market size analysis, by End-user, 2022-2032
8.1.2. Canada
8.1.2.1. Market size analysis, by Battery Type, 2022-2032
8.1.2.2. Market size analysis, by Application, 2022-2032
8.1.2.3. Market size analysis, by End-user, 2022-2032
8.1.3. Mexico
8.1.3.1. Market size analysis, by Battery Type, 2022-2032
8.1.3.2. Market size analysis, by Application, 2022-2032
8.1.3.3. Market size analysis, by End-user, 2022-2032
8.1.4. Research Dive Exclusive Insights
8.1.4.1. Market attractiveness
8.1.4.2. Competition heatmap
8.2. Europe
8.2.1. Germany
8.2.1.1. Market size analysis, by Battery Type, 2022-2032
8.2.1.2. Market size analysis, by Application, 2022-2032
8.2.1.3. Market size analysis, by End-user, 2022-2032
8.2.2. UK
8.2.2.1. Market size analysis, by Battery Type, 2022-2032
8.2.2.2. Market size analysis, by Application, 2022-2032
8.2.2.3. Market size analysis, by End-user, 2022-2032
8.2.3. France
8.2.3.1. Market size analysis, by Battery Type, 2022-2032
8.2.3.2. Market size analysis, by Application, 2022-2032
8.2.3.3. Market size analysis, by End-user, 2022-2032
8.2.4. Netherlands
8.2.4.1. Market size analysis, by Battery Type, 2022-2032
8.2.4.2. Market size analysis, by Application, 2022-2032
8.2.4.3. Market size analysis, by End-user, 2022-2032
8.2.5. Italy
8.2.5.1. Market size analysis, by Battery Type, 2022-2032
8.2.5.2. Market size analysis, by Application, 2022-2032
8.2.5.3. Market size analysis, by End-user, 2022-2032
8.2.6. Rest of Europe
8.2.6.1. Market size analysis, by Battery Type, 2022-2032
8.2.6.2. Market size analysis, by Application, 2022-2032
8.2.6.3. Market size analysis, by End-user, 2022-2032
8.2.7. Research Dive Exclusive Insights
8.2.7.1. Market attractiveness
8.2.7.2. Competition heatmap
8.3. Asia-Pacific
8.3.1. China
8.3.1.1. Market size analysis, by Battery Type, 2022-2032
8.3.1.2. Market size analysis, by Application, 2022-2032
8.3.1.3. Market size analysis, by End-user, 2022-2032
8.3.2. Japan
8.3.2.1. Market size analysis, by Battery Type, 2022-2032
8.3.2.2. Market size analysis, by Application, 2022-2032
8.3.2.3. Market size analysis, by End-user, 2022-2032
8.3.3. India
8.3.3.1. Market size analysis, by Battery Type, 2022-2032
8.3.3.2. Market size analysis, by Application, 2022-2032
8.3.3.3. Market size analysis, by End-user, 2022-2032
8.3.4. Australia
8.3.4.1. Market size analysis, by Battery Type, 2022-2032
8.3.4.2. Market size analysis, by Application, 2022-2032
8.3.4.3. Market size analysis, by End-user, 2022-2032
8.3.5. South Korea
8.3.5.1. Market size analysis, by Battery Type, 2022-2032
8.3.5.2. Market size analysis, by Application, 2022-2032
8.3.5.3. Market size analysis, by End-user, 2022-2032
8.3.6. Rest of Asia-Pacific
8.3.6.1. Market size analysis, by Battery Type, 2022-2032
8.3.6.2. Market size analysis, by Application, 2022-2032
8.3.6.3. Market size analysis, by End-user, 2022-2032
8.3.7. Research Dive Exclusive Insights
8.3.7.1. Market attractiveness
8.3.7.2. Competition heatmap
8.4. LAMEA
8.4.1. Brazil
8.4.1.1. Market size analysis, by Battery Type, 2022-2032
8.4.1.2. Market size analysis, by Application, 2022-2032
8.4.1.3. Market size analysis, by End-user, 2022-2032
8.4.2. UAE
8.4.2.1. Market size analysis, by Battery Type, 2022-2032
8.4.2.2. Market size analysis, by Application, 2022-2032
8.4.2.3. Market size analysis, by End-user, 2022-2032
8.4.3. Saudi Arabia
8.4.3.1. Market size analysis, by Battery Type, 2022-2032
8.4.3.2. Market size analysis, by Application, 2022-2032
8.4.3.3. Market size analysis, by End-user, 2022-2032
8.4.4. South Africa
8.4.4.1. Market size analysis, by Battery Type, 2022-2032
8.4.4.2. Market size analysis, by Application, 2022-2032
8.4.4.3. Market size analysis, by End-user, 2022-2032
8.4.5. Rest of LAMEA
8.4.5.1. Market size analysis, by Battery Type, 2022-2032
8.4.5.2. Market size analysis, by Application, 2022-2032
8.4.5.3. Market size analysis, by End-user, 2022-2032
8.4.6. Research Dive Exclusive Insights
8.4.6.1. Market attractiveness
8.4.6.2. Competition heatmap
9. Competitive Landscape
9.1. Top winning strategies, 2022
9.1.1. By strategy
9.1.2. By year
9.2. Strategic overview
9.3. Market share analysis, 2022
10. Company Profiles
10.1. Ultralife Corporation
10.1.1. Overview
10.1.2. Business segments
10.1.3. Product portfolio
10.1.4. Financial performance
10.1.5. Recent developments
10.1.6. SWOT analysis
10.2. EaglePicher Technologies LLC
10.2.1. Overview
10.2.2. Business segments
10.2.3. Product portfolio
10.2.4. Financial performance
10.2.5. Recent developments
10.2.6. SWOT analysis
10.3. EnerSys
10.3.1. Overview
10.3.2. Business segments
10.3.3. Product portfolio
10.3.4. Financial performance
10.3.5. Recent developments
10.3.6. SWOT analysis
10.4. Liberating Technologies, Inc
10.4.1. Overview
10.4.2. Business segments
10.4.3. Product portfolio
10.4.4. Financial performance
10.4.5. Recent developments
10.4.6. SWOT analysis
10.5. Panasonic Corporation
10.5.1. Overview
10.5.2. Business segments
10.5.3. Product portfolio
10.5.4. Financial performance
10.5.5. Recent developments
10.5.6. SWOT analysis
10.6. Tadiran Batteries Ltd
10.6.1. Overview
10.6.2. Business segments
10.6.3. Product portfolio
10.6.4. Financial performance
10.6.5. Recent developments
10.6.6. SWOT analysis
10.7. Saft Groupe S.A.
10.7.1. Overview
10.7.2. Business segments
10.7.3. Product portfolio
10.7.4. Financial performance
10.7.5. Recent developments
10.7.6. SWOT analysis
10.8. Arotech Corporation
10.8.1. Overview
10.8.2. Business segments
10.8.3. Product portfolio
10.8.4. Financial performance
10.8.5. Recent developments
10.8.6. SWOT analysis
10.9. SHENZHEN KAYO BATTERY Co. Ltd
10.9.1. Overview
10.9.2. Business segments
10.9.3. Product portfolio
10.9.4. Financial performance
10.9.5. Recent developments
10.9.6. SWOT analysis
10.10. Vitec Group plc
10.10.1. Overview
10.10.2. Business segments
10.10.3. Product portfolio
10.10.4. Financial performance
10.10.5. Recent developments
10.10.6. SWOT analysis
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