The report contains updated information about the ongoing COVID-19 pandemic and acts as an accurate analysis of the COVID-19 impact on the Medical Devices Batteries market. The report draws attention to the COVID-19 impact on the market and its crucial segments. As per the report, the current pandemic is one of the major contributing elements for the potential decline of the market in the coming years. The business sector has been drastically affected by the pandemic, which has adversely altered the market dynamics and demand trends. Financial difficulties brought by the pandemic have delayed the progress rate of various businesses and disrupted the global supply chains. The report further provides a future impact assessment of the Medical Devices Batteries market concerning COVID-19.
The global Medical Devices Batteries Market size was USD 2700.1 Million in 2021 and is expected to register a revenue CAGR of 6.3% during the forecast period, according to latest analysis by Emergen Research.
A few of the major factors influencing market revenue growth over the forecast period include the rising popularity of lithium-ion batteries, surge in demand for portable and implantable devices powered by batteries, rising prevalence of chronic diseases and cardiovascular diseases globally, and rising public and private expenditure to upgrade existing healthcare infrastructure. In addition, rising demand for lithium-ion batteries is anticipated to fuel market revenue expansion. A medical battery is an electrical component connected to other medical equipment so that they can receive electricity. A cell or linked set of cells that are designed to receive, store, and dispense electric energy as needed make up a medical battery.
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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Medical Devices Batteries market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
The companies will use
Resonetics,
GE Healthcare (General Electric Company),
Ultralife Corp.,
Texas Instruments,
EnerSys,
KAYO Battery (Shenzhen) Company Limited,
Tadiran Batteries Ltd.,
Arotech Corporation,
Saft,
Renata SA.
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Some Key Highlights of the Medical Devices Batteries Market
- The market for medical device batteries is divided into three categories based on the kind of battery: lithium batteries, nickel-metal hydride batteries, and zinc-air batteries. Due to increasing lithium battery consumption, the lithium batteries market is predicted to expand at a significant revenue rate throughout the forecast period. Secondary lithium-ion batteries that can be charged while being implanted have also been developed for use in medical devices. These medical gadgets are often powered by lithium batteries due to their great energy density, safety, and dependability. This has increased demand for it, which is projected to propel this segment's revenue growth.
- In 2021, the market in North America accounted for the biggest revenue share. The need for medical devices in hospitals, clinics, and diagnostic facilities in the nations of this area has increased as a result of an increase in the incidence of cancer and other chronic diseases. According to the American Cancer Society, 1.9 million new instances of cancer were diagnosed in the country in 2022, and more than 600,000 of those people passed away. This is anticipated to assist the expanding demand for medical device batteries, a key component in the market's increasing revenue. Increasing expenditures in healthcare infrastructure and medical facilities, as well as the quick uptake of cutting-edge technology for the early detection and diagnosis of illnesses like cancer, are other important drivers of market revenue growth.
- Resonetics purchased EaglePicher Technologies Medical Power division, a producer of implantable batteries for medical equipment, on February 11, 2022. This purchase will provide Resonetics access to cutting-edge manufacturing technology and give clients access to cutting-edge clinical applications that need for tiny bioelectronic devices.
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Market Overview:
The report bifurcates the Medical Devices Batteries market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
For the purpose of this report, Emergen Research has segmented the global Medical Devices Batteries market based on product type, battery type, end-use, and region:
- Product Type Outlook (Revenue, USD Million; 2019-2030)
- Implantable Batteries
- Pacemakers Batteries
- Implantable Cardioverter Defibrillator Batteries
- Neurostimulators Batteries
- Cochlear Batteries
- Infusion Pumps Batteries
- Others
- Non-Implantable Batteries
- Diagnostic Imaging Device Batteries
- Patient Monitoring Device Batteries
- Critical Care Support Batteries
- In Vitro Diagnostics Instrument Batteries
- Therapeutic Devices
- Prosthetic Device Batteries
- Others
- Battery Type Outlook (Revenue, USD Million; 2019-2030)
- Lithium Batteries
- Nickel-Metal Hydride Batteries
- Zinc-air batteries
- End use Outlook (Revenue, USD Million; 2019-2030)
- Hospitals
- Clinics
- Diagnostic Centers
- Home Care Settings
- Others
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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