Medical Batteries Market Size Poised to Hit USD 3.56 billion by 2034, Driven by a 6 % CAGR | PMR

New York, USA, Dec. 09, 2024 (GLOBE NEWSWIRE) — Market Overview

The global medical batteries market size is projected to grow from USD 1.98 billion in 2024 to USD 3.56 billion by 2034, at a CAGR of 6.00%, according to a new report by Polaris Market Research.

Medical device batteries play an important part in contemporary healthcare. They fuel the devices that permit patients to operate more normally by handling and enhancing their health or even hold on to life menacing illness situations. There are many ways to categorize medical devices. Some offer therapeutic operations, while others are utilized for diagnostic motives. Some provide both functions. Several kinds of batteries constitute mercury and may also comprise other bulky metals such as lead and cadmium. These metals may be a probable menace to human health and ambiance if inappropriately discarded.

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Key Insights from the Report

• The market for medical batteries is significantly shaped by technological progressions in batteries that provide enhanced performance and security.
• The medical batteries market segmentation is mainly based on battery type, usage, end user, and region.
• Based on battery type, the lithium-ion batteries segment is expected to experience the highest CAGR during the forecast period.
• By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Medical Batteries Market Scope

Market’s Growth Drivers

Growing Concentration on High-Energy-Density Batteries: The growing concentration on high-energy-density batteries is propelled by the requirement for enduring power sources in medical gadgets such as embedded cardiac devices and wearable health monitors. The batteries provide expanded functional life, which is important for devices that need dependable presentation over extended periods without persistent renewal, contributing to medical batteries market growth.

Growing Usage of Rechargeable Batteries: Rechargeable batteries decrease waste and provide a greener solution compared to solitary-use batteries. This trend is especially apparent in devices such as hearing aids and glucose monitors, where persistent battery replacement can be difficult and expensive.

Growing Security and Administrative Conformity: Another eminent trend is the growing focus on security and administrative conformity to the market. As medical gadgets become more experienced guaranteeing that batteries encounter strict safety standards is foremost. Administrative bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have confirmed diligent directives to sanction battery security and performance.

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List of Medical Batteries Market Key Players

• Duracell Inc.
• Panasonic Corporation
• LG Chem Ltd.
• VARTA AG
• Energizer Holdings, Inc.
• Samsung SDI Co., Ltd.
• Toshiba Corporation
• Saft Group
• Murata Manufacturing Co., Ltd.
• Maxell Holdings, Ltd.
• BAK Battery Co., Ltd.

Geographical Analysis

North America accounted for the largest medical batteries market share owing to the region’s progressive healthcare framework, elevated acquisition rate of progressive medical technologies, and sizeable funding in research and development. The existence of prominent medical device makers and the escalating existence of detrimental illnesses cause the robust demand for dependable and inventive battery solutions.

Europe is also expected to grow at the highest CAGR during the forecast period. This is due to a robust concentration on administrative conformity and technological inventions. The region profits from an entrenched healthcare system and an elevated degree of funding in medical research that drives the demand for progressive battery solutions in medical devices. Critical nations such as Germany, France, and the UK concentrate on combining contemporary technologies with medical devices to improve patient care.

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Market Segmentation

By Battery Type Outlook

• Lithium-Ion Batteries
• Nickel-Metal Hydride (NiMH) Batteries
• Alkaline Batteries
• Zinc-Air Batteries
• Others

By Usage Outlook

• Implantable Medical Devices
• Non-implantable Medical Devices
• Portable
• Wearable Medical Devices

By End User Outlook

• Hospitals
• Home Healthcare Settings
• Ambulatory Surgical Centers
• Research Institutes

By Regional Outlook

• North America
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

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About Polaris Market Research & Consulting, Inc:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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