Dublin, Jan. 07, 2025 (GLOBE NEWSWIRE) — The “Medical Batteries Market Report 2024” report has been added to ResearchAndMarkets.com’s offering.
The global medical batteries market has exhibited a robust growth trajectory with its market size expanding from $1.64 billion in 2023 to an anticipated value of $1.75 billion by 2024, representing a compound annual growth rate (CAGR) of 6.4%. Key factors propelling this growth include increasing demand for portable medical devices, the rising prevalence of chronic conditions, an expanding global healthcare infrastructure, technological advancements, and an aging population necessitating higher standards of care.
Growth Prospects
Looking ahead to the next five years, the medical batteries sector shows no signs of slowing, as projections estimate a market size growth to $2.26 billion by 2028, with a CAGR of 6.7%. The predicted surge is attributed to a variety of factors such as advances in telemedicine, home healthcare proliferation, elevated numbers of regulatory approvals for state-of-the-art medical devices, and increased investment in next-generation battery technology. These developments are expected to usher in new levels of efficiency and effectiveness in healthcare services.
Technological Innovations
Technological strides in the field of medical batteries have resulted in progress across several fronts, including rechargeable lithium-ion batteries featuring enhanced safety, the advent of smart batteries equipped with diagnostics and monitoring capabilities, and significant enhancements in battery management systems (BMS). Furthermore, the introduction of wireless medical devices and wireless charging technologies are set to further revolutionize the medical batteries marketplace.
Expansion through Mergers and Acquisitions
Major corporations within the medical batteries market are also seeking growth through strategic mergers and acquisitions. A recent example is the acquisition by Resonetics LLC of the medical power division from EaglePicher Technologies. This move exemplifies how companies are strengthening their product portfolios to stay at the forefront of the fast-evolving medical technology landscape.
Regional Insights
In 2023, North America stood out as the largest regional market for medical batteries. Nevertheless, the forecast period shows Asia-Pacific as the fastest-growing region, highlighting a notable shift in global market dynamics.
The Critical Role of Medical Batteries
Medical batteries are essential in the healthcare industry, powering an array of devices vital for patient care. They are designed to meet rigorous safety and performance standards, providing a reliable energy source for life-critical applications. This includes a diverse array of battery types such as lithium-ion and nickel-metal hydride (NIMH), serving a multitude of applications from implantable medical devices to portable and wearable health tech.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $1.75 Billion |
| Forecasted Market Value (USD) by 2028 | $2.26 Billion |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
The major companies profiled in this Medical Batteries market report include:
- TotalEnergies SE
- Panasonic Corporation
- 3M Company
- Merck KGaA
- Texas Instruments Incorporated
- STMicroelectronics NV
- Murata Manufacturing Co. Ltd
- EnerSys Inc.
- Energizer Holdings Inc.
- Renata AG SA
- VARTA Microbattery GmbH
- Vitec Group PLC
- EaglePicher Technologies LLC
- Ultralife Corporation
- Probo Medical LLC
- Camelion Battery Co. Ltd.
- Maxim Integrated Products Inc.
- Tadiran Batteries Ltd.
- Blue Spark Technologies Inc.
- KAYO Battery Company Limited
For more information about this report visit https://www.researchandmarkets.com/r/13hxru
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