Medical Batteries Market- Key Vendors Analysis, Revenue, Trends & Forecast to 2022

Published On:July 3, 2017, 3:56 pm

medical battery cA medical battery comprises of a cell or group of cells that are designed for storing, receiving, and delivering electric energy as per requirement. Medical battery is attached to the other medical devices for providing electric energy to them. The medical batteries are of many types such as lithium ion (Li-ion) battery, thin film lithium-ion battery, nickel cadmium (Ni-Cd) battery, alkaline-manganese battery and nickel metal hydride (Nimh) battery. These batteries are based on the theory of converting chemical energy into electrical energy. It implies reversible chemical reactions and charged again by passing electric current in reverse direction. Medical battery can be used with a range of medical devices like implantable cardioverter defibrillators, infusion pumps and pacemakers. If mandatory, more than one battery can be used for functioning of a single medical instrument.

The global medical batteries market is predicated to grow moderately with significant compound annual growth rate during the forecast period of 2017 to 2022. Due to improved healthcare facilities and broad technical applications of medical batteries in the various regions across the world is driving the global medical batteries market. Asia-Pacific region is expected to register the fastest growth in medical batteries markets. The driving forces for global market in emerging countries are large syndicate of patients, enhancement in the healthcare services and growing government backing.

Increasing number of patients with chronic diseases and growing awareness for different medical electronic equipments available, these factors are propelling the growth of the market industry. In addition, technological advancement in healthcare sector is also fuelling the market growth further. However, factors like inadequate technical knowledge concerned to medical batteries, low approval due to high cost and availability of substitute technologies are restraining the growth of market industry.

The key market players in the global medical batteries market are Analog Devices, Inc., Siemens Ag, EaglePicher Technologies, GE Healthcare, Quallion LLC, Maxim Integrated, Medtronic Plc., Stmicroelectronics N.V, Texas Instruments, Ultralife Corp, Panasonic Corp and Electrochem Solutions. According to product types, the market is split into; Lithium ion (Li-ion) battery, Nickel cadmium (Ni-Cd) battery, Nickel metal hydride (Nimh) battery and Alkaline-manganese battery. By application, the market is classified into; Pacemakers, Infusion pumps and Implantable cardioverter defibrillators. Geographically, the global market is segmented into regions which are Europe, North America, Latin America, Africa, Asia-Pacific, Southeast Asia, Middle East and Rest of the world.

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