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The global Medical Batteries Market size was valued at USD 1.55 Billion in 2024, and is projected to reach USD 2.34 Billion by 2032, growing at a CAGR of 5.31% from 2023 to 2032
The global medical batteries market forms an integral and dynamic part of the healthcare industry, primarily due to the ever-increasing reliance on advanced medical devices and a growing demand for portable and implantable medical technologies. Medical batteries form the very core components in most medical devices, including pacemakers, defibrillators, infusion pumps, ventilators, hearing aids, and several diagnostic equipment. Those batteries ensure continuous, uninterrupted performance of equipment in patient care important to patient safety.
The key drivers for the medical batteries market incorporate the rising cases of chronic diseases and the increasing aging population. With the rising cases of various diseases, such as cardiovascular diseases, diabetes, and respiratory disorders, the demand for medical devices operating with the aid of batteries also rises. For instance, the growing incidence of cardiac patients requiring pacemakers and defibrillators creates natural demand for high power and long-life medical batteries.
Advancements in medical devices have also had a huge impact on the medical batteries market. New, sophisticated miniaturized medical devices have been developed; this involves that batteries should be smaller, lighter, and more energy-efficient. It is these same battery chemistry innovations, like lithium-ion and lithium polymer technologies, which have given rise to new batteries with higher energy densities, extended life cycles, and improved safety profiles. These developments enhance the functionality of the medical devices while reducing the frequency of battery replacement and, hence, contribute to improving patient outcomes and reduction in healthcare expenditure.
Another driver for the medical batteries market is the increasing adoption of portable and home healthcare devices. With patient centred care becoming rampant and an increased demand for remote monitoring and tele health solutions, there is a growing need for reliable and durable batteries to keep portable medical devices running continuously. This trend has been well enunciated in the management of chronic diseases, whereby patients have to be kept under constant monitoring and treatment often aided by devices that are powered by batteries.
Growing demand for portable and home healthcare devices
Rising investments in healthcare infrastructure
Development of eco-friendly and recyclable battery solutions
Limited battery life and frequent replacements
The market scope is segmented because of by Battery Type, by Process, by Application, by Portable & Wearable Medical Devices, by End User.
By Battery Type
Of these several segments of battery types, lithium batteries especially lithium-ion (Li-ion) batteries have captured a massive share in the global medical batteries market. Key factors driving their dominance include performance characteristics much better than those of other types of batteries. Lithium-ion batteries exhibit a high energy density, thus storing more energy in a smaller and lighter package something that is very important for medical devices, which are often compact and/or used as portable devices.
Besides, lithium-ion batteries possess a reasonably long cycle life, meaning they can be charged and used a number of times before their capacity drastically goes down. This is important in medical devices that require dependable power over an extended period. Li-ion batteries also have the virtue of a lower self-discharge compared with other kinds of batteries. This lets them hold their charge longer when out of use, a feature quite essential for emergency medical equipment since it must be ready for use at any moment.
By Capacity
Of all capacity segments of the global medical batteries market, the "600 – 1,200 mAh" segment has accounted for the largest share. It gets key impetus from the high utilization of these batteries in some important and widely used medical devices. Therefore, devices such as insulin pumps, portable oxygen concentrators, and most wearable health monitoring devices require batteries within this range. This is because they offer an optimal balance between size, weight, and energy capacity. These batteries provide enough power to ensure reliable performance over long periods, making them rather suitable for continuous or long-running devices without the need for frequent recharge cycles.
Furthermore, these developments in battery technology allow for batteries designed within this capacity range to have better efficiency, increased life, and improved safety features, thus allowing increased adoption in both portable and implantable medical devices.
By Application
By Portable & Wearable Medical Devices
By End User
North America was the largest regional market for medical batteries over the forecast period because of the well-established healthcare infrastructure, high spending on healthcare, and adoption of new medical technologies at a pretty early stage. More specifically, the United States is at the forefront of this regional segment, mainly due to some key manufacturers of medical devices and high investments in R&D. Stringent regulatory frameworks, like those of the FDA, place high standards for medical devices and their components, such as batteries, which further drive the market growth. The aging population of North America and a highly prevalent chronic disease burden of the region, characterized by cardiovascular disorders and diabetes, spur demand for battery-powered medical devices like pacemakers, insulin pumps, and portable diagnosis tools. The presence of major players in this sector of battery manufacturing also fuels North America's dominance in the market.
On the contrary, the Asia-Pacific region is estimated to be the fastest-growing market for medical batteries. This can further be attributed to the increased spending in healthcare in developing economies of China and India, coupled with increasing cases of chronic diseases and growing adoption of advanced medical devices. With the growing middle-class population in these countries, the demand for quality healthcare services and the corresponding demand for the medical devices increase accordingly.
In April 2024, Murata Manufacturing (Japan) has expanded its silicon capacitor production by adding a new 200-mm mass production line in Caen, France.
In May 2024, EnerSys (US) has announced its acquisition of Bren-Tronics, Inc., a prominent producer of portable power solutions for military and defense applications. This acquisition aims to enhance EnerSys' position in critical defense sectors and is anticipated to bolster its Specialty Aerospace & Defense division, thereby boosting its revenue and profitability from lithium products.
In May 2023, Duracell Inc. (US) has teamed up with The American Academy of Pediatrics (US) for the "Power Safely" initiative, aimed at enhancing lithium coin battery safety. This partnership focuses on educating parents and caregivers about safe handling practices, providing safety checklists, and advocating for secure packaging of batteries.
The report will cover the qualitative and quantitative data on the Global Medical Batteries Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.
Study Period | 2024-32 |
Base Year | 2023 |
Estimated Forecast Year | 2024-32 |
Growth Rate | CAGR of 5.31% from 2024 to 2032 |
Segmentation | By Battery Type, By Process, By Application, By Portable & Wearable Medical Devices, By End User, By Region |
Unit | USD Billion |
By Battery Type |
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By Capacity |
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By Application |
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By Portable & Wearable Medical Devices |
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By End User |
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By Region |
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North America accounted for the highest Medical Batteries% market share in terms of revenue in the Medical Batteries market and is expected to expand at a CAGR of Medical Batteries% during the forecast period. This growth can be attributed to the growing adoption of Medical Batteries. The market in APAC is expected to witness significant growth and is expected to register a CAGR of Medical Batteries% over upcoming years, because of the presence of key Medical Batteries companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Medical Batteries Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
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Medical Batteries Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
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12 Aug 2024
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