Global Medical Batteries Market
Global Medical Batteries Market is projected to reach a size of USD 3.7 billion by 2026, at a CAGR of 6.7% from an estimated USD 2.2 billion in 2018.A medical battery consists of a cell or a group of cells that are designed for storing, receiving and delivering electric energy as required. The principle behind it is converting chemical energy into electrical energy.
The increase in the prevalence of chronic and cardiovascular diseases are leading to sustained development and innovation in medical devices for treatment and prevention, such as defibrillators and pacemakers. The rise in the acceptance to development of light, long-life efficient batteries, mainly in patient monitoring devices such as hemodynamic, glucometer, cardiac, neuro, fetal & neonatal, respiratory, weight, temperature, multi-parameter, and remote patient monitoring devices.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The major drivers of the market are technological advancement, reimbursement in the healthcare facilities, and medical equipment. Usually, medical batteries have a high demand for implantable medical devices and some non-implantable medical devices. On the other hand, the risk which comes from medical batteries are the strains for the market. The risks involved with the use of medical batteries are battery depletion, high internal resistance, and battery leakage.
By Product type, the market is divided into two types; implantable batteries and non-implantable batteries. Furthermore, on the basis of configuration, medical batteries are of different types such as Lithium Batteries, Nickel-Metal Hydride Batteries, Zinc-air batteries, and other alkaline-manganese battery.
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Last Update : Sep 21, 2020 9:09 AM
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