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  • Published On : Jul 2022
  • Code : CMI1174
  • Industry : Medical Devices
  • Pages : 214
  • Formats :

Battery systems consists of one or more storage batteries and battery chargers, and includes inverters, converters, and associated electrical equipment. As instruments are increasingly becoming computerized and mobile, systems’ performance and reliability depends on its battery. There are three major types of batteries used in medical devices based on their chemical composition, which includes lithium batteries, nickel-metal hydride batteries, and zinc-air batteries. Demand for medical batteries has increased significantly in the recent past, due to advancements in technology in lithium ion batteries for better performance and durability. For instance, in December 2017, Hong Kong-based Company, Surwon Technology, has successfully completed the grapheme layering process to conduct energy through lithium-ion battery.

The global medical batteries market is estimated to be valued at US$ 2,714.68 million in 2022 and is expected to exhibit a CAGR of 6.4% during the forecast period (2022-2030).

Figure 1. Global Medical Batteries Market Share (%), by Battery Type, 2022

Medical Batteries  | Coherent Market Insights

Increasing demand for battery powered portable and implantable devices is expected to fuel growth of the global medical batteries market

Manufacturers are focusing on manufacturing medical batteries which can provide high performance and have long-life span. For instance, in February 2017, Ultralife Corporation launched 492Wh Lithium iron phosphate (LiFePO4) smart battery, which is equipped with accurate fuel gauging and integrated safety circuitry that is designed to replace Sealed Lead Acid (SLA) batteries used in medical carts.

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Medical Batteries Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 2,714.68 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 6.4% 2030 Value Projection: US$ 4,471.56 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Usage: Implantable Devices Batteries (Implantable Cardioverter Defibrillator, Neurostimulators Batteries, Cochlear Batteries, Infusion Pumps, Other Implantable Batteries), Non-Implantable Devices Batteries (Diagnostic Imaging Device Batteries, Patient Monitoring Device Batteries, Critical Care Support, tteries, In vitro Diagnostics Instrument Batteries, Therapeutic Devices, Prosthetic Device Batteries, Other Non-Implantable Batteries)
  • By Battery Type: Lithium Batteries, Nickel-Metal Hydride Batteries, Zinc-air Batteries, Other Batteries
  • By End User: Hospitals and Nursing Homes, Clinics, Diagnostic Centers, Home Care Settings, Other End User 
Companies covered:

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

Growth Drivers:
  • Increasing demand for battery powered portable and implantable devices
  • Increasing prevalence of chronic diseases such as diabetes and cardiovascular attack 
Restraints & Challenges:
  • Safety concerns related to lithium batteries

Figure 2.Global Medical Batteries Market Share (%), by Region, 2022

Medical Batteries  | Coherent Market Insights

Increasing prevalence of chronic diseases such as diabetes and cardiovascular attack is leading to rising demand for medical batteries is expected to drive the medical batteries market

Increasing prevalence of chronic diseases such as diabetes and cardiovascular is leading to rising demand for medical batteries in devices required for treatment of these diseases. For instance, in June 2021, according to data published by the World Health Organization (WHO), out of 17 million premature deaths (under the age of 70) due to noncommunicable diseases in 2019, 38% were caused by cardiovascular diseases all over the world. An estimated 17.9 million people died from cardiovascular diseases (CVDs) in 2019, representing 32% of all global deaths. Out of these deaths, 85% were due to heart attack and stroke. About 659,000 people in the U.S. die from heart disease each year—that’s 1 in every 4 deaths. In the U.S., about 18.2 million adults age 20 and older have Cardiac Associated Disorders (CAD) (about 6.7%). Moreover, according to Centers for Disease Control and Prevention in the U.S., heart attack occurs in every 40 seconds. Coronary heart disease is the most common type of heart disease, killing 360,900 people in 2019 in the U.S.

Global Medical Batteries Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global medical batteries market, owing to the decrease in supply of medical batteries. In the COVID-19 situation, the expected growth of the lithium-ion battery market is expected to decline as the pandemic is restricting the supply of batteries and other components due to severe disruptions in businesses and the global economy. The lockdown affected production of the batteries as the due to shortage of raw material used for manufacturing, as export import was restricted due to prevailing pandemic situation and lockdown.

Global Medical Batteries Market: Key Developments

In April 2022, according to article published by National Center for Biotechnology Information, in MEDICA, the world’s largest medical trade show that is being held in Düsseldorf, Germany, Panasonic will be presenting its extensive line-up of batteries, which are used in the various fields of the healthcare and medical industry. In addition to the current line-up, a number of prototypes, such as the flexible polymer battery and the pin type lithium-ion battery were on display by Panasonic. The launch of Flexible waterproof battery is so pliant that it can still function when stretched to double its original length.

Global Medical Batteries Market: Restraint

The major factors that hinder growth of the global medical batteries market include safety concerns related to lithium batteries. Lithium rechargeable batteries have the potential to overheat and even catch fire, this can occur due to overcharging, overloading, or by over-stressing due mechanical or environmental pressure. The U.S. Food and Drug Administration (FDA) has issued a warning regarding potential fire hazards due to the use of lithium-ion batteries in mobile medical carts. For instance, in May 2022, according to data published by pubmed, in 2022, fires were reported in February and April at Northern Beaches Hospital in Frenchs Forest, Australia. In both cases, lithium-ion batteries were on charge and overheated, causing them to ignite due to a process called thermal runaway.

Key Players

Major players operating in the global medical batteries market include 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.

Batteries are becoming increasingly significant in improving the overall safety, performance, and reliability of many medical devices. Increasing demand for battery powered instruments and devices is expected to increasing the demand for medical batteries, due to advancement in surgical procedure to provide more precision. Medical batteries are classified into implantable devices batteries and non-implantable batteries. The use of medical batteries is increasing significantly especially in implantable medical devices such as pacemakers, cardioveter defibrillator, neurostimulators batteries, and cochlear batteries; and non-implantable devices such as diagnostic imaging device, patient monitoring device, critical care support, and in vitro diagnostics instrument. This is expected to aid in growth of the market.

Furthermore, recent advancement with zinc-air batteries, which are available in button sizes as direct replacements of other button-type batteries. Moreover, the use of coin-sized zinc-air batteries in portable electronic devices and personal medical equipment such as cardiac monitors and transmitters is expected to be another factor for growth of the global medical batteries market.

Market Dynamics

Increasing research and development is expected to drive the global medical batteries market growth over the forecast period. For instance, in December 2021, according to data published by National Center for Biotechnology Information, engineers at the University of British Columbia created a flexible waterproof battery that is durable enough to undergo multiple wash cycles. It functions when stretched to double its original length, made of low-cost materials, making it potentially highly suited for wearable health monitoring technology, such as items of clothing, patches, or watches that monitor vital signs. The researchers chose zinc and manganese dioxide to manufacture the flexible batteries because the battery is intended to be worn near the skin, and they wanted it to be as safe as possible in the event of leakage.

Key features of the study:

  • This report provides an in-depth analysis of the global medical batteries market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global medical batteries market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include 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.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global medical batteries market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical batteries market

Detailed Segmentation:

  • Global Medical Batteries Market, By Usage:
    • Implantable Devices Batteries
      • Pacemakers Batteries
      • Implantable Cardioverter Defibrillator
      • Neurostimulators Batteries
      • Cochlear Batteries
      • Infusion Pumps
      • Other Implantable Batteries 
    • Non-Implantable Devices Batteries
      • Diagnostic Imaging Device Batteries
      • Patient Monitoring Device Batteries
      • Critical Care Support Batteries
      • In vitro Diagnostics Instrument Batteries
      • Therapeutic Devices
      • Prosthetic Device Batteries
      • Other Non-implantable Batteries
  • Global Medical Batteries Market, By Battery Type:
    • Lithium Batteries
    • Nickel –Metal Hydride Batteries
    • Zinc-air Batteries
    • Other Batteries
  • Global Medical Batteries Market, By End User:
    • Hospitals and Nursing Homes
    • Clinics
    • Diagnostic Centres
    • Home Care Settings
    • Other End User
  • Global Medical Batteries Market, By Region:
    • North America
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Ultralife Corporation *
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • EaglePicher Technologies LLC
    • EnerSys
    • Liberating Technologies, Inc.
    • Panasonic Corporation
    • Tadiran Batteries Ltd.
    • Saft Group S.A.
    • Arotech Corporation
    • SHENZHEN KAYO BATTERY Co., Ltd
    • Vitec Group plc.

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global medical batteries market size is estimated to be valued at US$ 2,714.68 million in 2022 and is expected to exhibit a CAGR of 6.4% between 2022 and 2030.
Factors such as increasing demand for battery powered portable and implantable devices and increasing prevalence of chronic diseases such as diabetes and cardiovascular attack are expected to drive the market growth.
Among regions, North America is expected to exhibit a high growth rate, in terms of value, over the forecast period.
The major factors hampering growth of the market include safety concerns related to lithium batteries.
Major players operating in the market include 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.

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