Medical Battery Market Experiencing a Surge in Revenue of US$ 2,974.04 Million By 2032 | Astute Analytica
CHICAGO , UNITED STATES, April 23, 2024 /EINPresswire.com/ -- The global ๐ฆ๐๐๐ข๐๐๐ฅ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐ฆ๐๐ซ๐ค๐๐ญ was valued at ๐๐$ ๐,๐๐๐.๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐ข๐ง ๐๐๐๐ and is projected to hit the market valuation of ๐๐$ ๐,๐๐๐.๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง ๐๐ฒ ๐๐๐๐ at a ๐๐๐๐ ๐จ๐ ๐.๐๐% During the Forecast Period ๐๐๐๐โ๐๐๐๐.
๐ ๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐ ๐ข๐ฅ๐@- https://www.astuteanalytica.com/request-sample/medical-battery-market
The global medical battery market is experiencing strong growth during the forecast period, driven by the increasing demand for portable and remote monitoring equipment. Regionally, North America is anticipated to observe significant growth during this period.
The global medical battery market is growing due to the rise in home healthcare services and telemedicine solutions, which require portable or wearable medical devices that rely on batteries to function properly. For example, the significant increase in diabetes prevalence worldwide has led to the frequent use of glucometers at home to check blood sugar levels in medical devices. According to the World Health Organization, diabetes affected 8.5% of persons aged 18 and above globally, causing around 1.5 million direct deaths in the recent year.
In line with the increasing popularity of wearable medical devices such as hearing aids and implantable cardiac defibrillators, there is a growing demand for batteries that are safe, lightweight, compact, and long-lasting. For example, the European Hearing Instrument Manufacturers Association (EHIMA) reported a 4.7% growth in global hearing aid sales by its members, reaching 20.25 million units in 2022. This surge followed a significant increase from pre-Covid levels due to catch-up demand in 2021. The continuous demand for high-quality hearing care and other wearable medical devices will drive market growth.
๐๐ข๐ญ๐ก๐ข๐ฎ๐ฆ-๐๐จ๐ง ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐จ๐ฅ๐๐ฌ ๐๐% ๐จ๐ ๐๐๐ฏ๐๐ง๐ฎ๐ ๐๐ก๐๐ซ๐, ๐๐ก๐จ๐ฐ๐๐๐ฌ๐ข๐ง๐ ๐๐จ๐ฆ๐ข๐ง๐๐ง๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐๐ข๐๐๐ฅ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ
The lithium-ion battery segment holds the highest share of 50.73% in the medical battery market as of 2023 and is likely to grow at the highest CAGR of 6.48% during the forecast period. This dominance is due to several advantages offered by lithium-ion batteries, including high energy density, long cycle life, and low self-discharge rate, making them ideal for portable and implantable medical devices.
The increasing adoption of wearable medical devices, such as smartwatches and fitness trackers, is driving the demand for compact and efficient lithium-ion batteries. For instance, based on a 2024 survey by the Cleveland Clinic, half of the American population utilizes some form of health monitoring technology, with over half focusing on monitoring their heart rate. Additionally, 92% of smartwatch users employ these devices for health and fitness purposes.
Additionally, the growing prevalence of chronic diseases and the rising geriatric population are fueling the demand for implantable medical devices, such as pacemakers and neurostimulators, which rely on lithium-ion batteries for long-term power supply.
Furthermore, advancements in lithium-ion battery technology, such as the development of solid-state electrolytes and high-capacity cathode materials, are further enhancing the performance and safety of these batteries in medical applications.
Rapid advancements in battery technology are also contributing to the growth of the North American market. Wireless charging options are now being integrated into more user-friendly tools for patients and healthcare professionals. Additionally, longer-lasting rechargeable batteries are on their way, further propelling the industry to hit new highs. The North American market's growth is further due to factors such as technological advancements and increasing healthcare spending coupled with government policies.
๐๐จ๐ฉ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐๐๐ข๐๐๐ฅ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐๐ซ๐ค๐๐ญ
โข Boston Scientific Corporation
โข Celltech Group
โข Duracell Inc.
โข GE HealthCare
โข Integer Holdings Corporation
โข Maxell, Ltd.
โข Panasonic Holdings
โข Saft Group
โข SEALED ENERGY SYSTEMS
โข Swatch Group
โข Tadiran Batteries
โข Other Prominent Players
๐๐๐๐ ๐จ๐ฎ๐ซ ๐ซ๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐จ๐ง ๐ญ๐ก๐ ๐ฆ๐๐๐ข๐๐๐ฅ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐ฆ๐๐ซ๐ค๐๐ญ:- https://www.astuteanalytica.com/industry-report/medical-battery-market
๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ
๐๐ฒ ๐๐ฒ๐ฉ๐
โข Implantable Medical Devices Battery
โข Rechargeable Battery
โข Non-Rechargeable Battery
โข Non- Implantable Medical Devices Battery
โข Rechargeable Battery
โข Non-Rechargeable Battery
โข Portable/Wearable Medical Devices Battery
โข Rechargeable Battery
โข Non-Rechargeable Battery
๐๐ฒ ๐๐๐ญ๐ญ๐๐ซ๐ฒ ๐๐ฒ๐ฉ๐
โข Lithium-Ion Battery
โข Lithium-Carbon Fluorides Battery
โข Lithium Iron Phosphate Battery
โข Nickel Metal Hydride Battery
โข Zinc Air Battery
โข Others
๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
โข Portable Medical Devices
โข Infusion Pumps
โข Oxygen Concentrators
โข Patient Monitoring
โข Handheld Surgical Tools
โข Powered Surgical Instruments
โข Portable X-ray & Imaging Solutions
โข Ultrasound Devices
โข Diagnostic Devices
โข Others
โข Implantable Medical Devices
โข Pacemakers
โข Implantable Cardioverter-Defibrillators
โข Neuro Stimulators
โข Drug Pumps
โข Cochlear Implants
โข Left Ventricular Assist Device
โข Others
โข On- Body/Patch Devices
โข Insulin Pumps
โข Drug Injectors
โข Microelectronic Pills
โข Cancer Detectors
โข Gastro Cameras
โข Medical Sensors
๐๐ฒ ๐๐ง๐ ๐๐ฌ๐๐ซ
โข Hospitals and Clinics
โข Ambulatory Surgical Centres
โข Diagnostic Laboratories
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ@- https://www.astuteanalytica.com/request-sample/medical-battery-market
๐๐๐จ๐ฎ๐ญ ๐๐ฌ๐ญ๐ฎ๐ญ๐ ๐๐ง๐๐ฅ๐ฒ๐ญ๐ข๐๐:
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Aamir Beg
Astute Analytica
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