Medical Batteries Market

Medical Batteries Market Size, Share & Trends

The medical batteries market is expected to generate a revenue of USD 2.7 billion in 2029, with a revenue of USD 2.0 billion in 2024 to register a CAGR of 6.2%. Several factors foster this prominent growth.

The market will ride on the fact that it is an intrinsic part of healthcare. Batteries are designed to be power sources that are reliable, safe, and long-lasting, helping to run a vast array of medical devices from simple portable devices to complex life-saving equipment. The small size makes them easily fittable into medical devices to support clinical and home healthcare settings. The shift towards batteries assures sustainability and economy in operations by bringing down dependence on alternatives. The reduction in size of batteries, considering the safety factor, has continuously inspired innovation for implantable devices where small size and safety are major concerns. Growing healthcare technology, telemedicine, and portable equipment adoption drives the growth due to increased demand for high-energy and longer-life batteries. The key players in the industry have strong focus on research and development for powerful manufacturing to meet changing market requirements for the provision of dependable power solutions across the globe to the most stringent healthcare standards.

Medical Batteries Market Trends

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Medical Batteries Market Dynamics

Driver: Rising Incidence of Chronic diseases

The growing incidences of various diseases, such as heart diseases, diabetes, and respiratory problems, are prone to increase the medical devices market, thus increasing the demand for medical batteries. According to the CDC, roughly 129 million persons in the United States live with at least one serious chronic illness—nearly half the population as of February 2024. It is further projected that 90 percent of the United States' USD 4.1 trillion healthcare expenditure will be on the treatment for chronic diseases. National medical devices are increasingly used in view of requirements to monitor and treat: insulin pumps, pacemakers, portable oxygen concentrators.

These medical gadgets rely on power sources, which drives the demand for medical batteries. VARTA Microbattery and VEDENDUM PLC are two firms that offer high-performance batteries for implantable medical devices. They specialise in building reliable power sources. Medtronic, a technology company, blends cutting-edge battery technologies into its vast portfolio of therapeutic and monitoring devices.

Connected medical batteries are subsequently developed that would serve the monitoring needs of patients suffering from various diseases. Real-time data regarding health parameters will hence give way to the development of more personalized treatment programs and enhanced involvement in preventive healthcare. Growing demand for such devices would increase the demand for long-lasting, efficient batteries, thereby pushing the market.

Restraint: Stringent Regulatory Requirements

Stringent regulatory requirements are one of the major restraints to the medical batteries industry in terms

It involves high levels of compliance and approval procedures. The manufacturing of medical batteries is done under strict safety, quality, and performance, which puts the manufacturer through an intensive testing and documentation phase. This contributes to rigorous testing, complemented with extensive documentation in meeting the rigorous safety and quality measures and standards of performance, which are taken to medical batteries. Long approval timelines extend the time it takes to bring new battery technologies—or for that matter, medical devices—to the marketplace. This postpones the launch of the product and entrance into the marketplace, thereby slowing down innovation and adoption within the sector. In addition, development of state-of-the-art battery technologies, such as lithium-ion, which bring higher efficiencies, energies, and lifetimes, is allied with sacrifices in terms of safety. It requires possible failures in terms of thermal runaway, which can be related to fires and explosions, along with the incorporation of stringent safety features and constant improvement of these technologies in relation to risk minimization and safe application in a medical setup.

Opportunity: Development of next-generation batteries

Fast technological progress and ever-growing demand for compact, reliable energy storage make a number of opportunities open up for the medical battery market. Currently ongoing metal-ion battery research—a few alternative examples to the currently existing lithium-ion battery are briefly covered in this perspective article—encompasses the development of solid-state batteries and lithium-sulfur systems. In addition, it embraces other metal-ion chemistries such as sodium, potassium, magnesium, and calcium. Such developments have ensured greater energy density and a longer lifespan while reducing safety-related issues with lithium-ion batteries, such as thermal runaway. With the maturing of these new technologies, this could certainly bring about a sea change in medical batteries in a manner that will immensely benefit medical battery performance and reliability across a wide range of healthcare applications. With such radical innovations in store, the medical batteries industry is all set to benefit from better innovation care toward more secure and effective solutions for batteries to the end users.

Challenge: Supply Chain Disruption

The huge challenges to the medical battery market clearly relate to production and cost. This is because crucial raw materials, mainly cobalt and lithium, are largely under geopolitical and supply chain constraints that mostly set a delayed

It has also risen tost to these critical metals. In establishing adequate delivery of batteries to the medical device manufacturer and healthcare provider, efficient logistics and distribution networks become very important. Moreover, the increase in electric vehicles, consumer electronics, and other products has ushered in a challenge for semiconductors and cells, with serious bottlenecks at some components.

Naturally, on the part of battery manufacturers, universal design for printed circuit boards is the answer; likewise, preparation for further supply chain shocks. Another challenge to changes in production is the myriad of regulations that have to be complied with, including UL 62133 and IEC 62133. Despite these odds, brisk demand for dependable battery solutions continues to hold out sizeable opportunities, much more so in growing markets of Europe and North America, where compliance with stringent environmental and safety regulations enables firms to win a decisive competitive advantage.

Medical Batteries Market Ecosystem

It involves the specialized manufacturers, material suppliers focused on electrodes and electrolytes, research institutions that drive innovation, regulatory bodies ensuring safety, the distribution channels facilitating delivery, and end-use industries such as implantable devices and diagnostic tools. The product manufacturers make customized designs of batteries to meet the strict safety and performance metrics in these devices. Suppliers provided critical materials such as lithium compounds, while on the other end, quality power was pumped to the end-use industries for the development of healthcare technology. In this framework, efficient distribution and robust regulatory oversight enforcing safety compliance support healthcare providers to acquit medical needs effectively.

Source: Secondary Literature, Interviews with Experts, and MarketsandMarkets Analysis

The Lithium Batteries segment, is projected to grow at a CAGR of 5.5% between 2024 and 2029 in the global medical batteries industry

Lithium batteries, owing to their better performance parameters, are expected to capture the largest share of the medical batteries market in 2024. Lithium chemistry batteries assure far greater energy density than other technologies, providing two to three times more energy than nickel-metal hydride batteries, and hence compact designs without compromising runtime. Moreover, they also exhibit stable voltage behaviour during discharge processes and low self-discharge of about 80% at the end of a year's storage. Increasing energy and power densification remains the object of ongoing research. New lithium-ion chemistries feature:

Improved capacity and safety, with solid-state technologies improving both. This effective power capability, for a wide array of disparate medical devices, combined with the ability to package them into the smallest of form factors, is what drives the lithium battery opportunity in the market, to customers both in the form of OEMs and end-users. These batteries are rigorously tested to make sure that they will stand up to the stringent safety and reliability standards required for medical applications.

Cardiac Pacemakers devices accounted for a substantial share of the medical batteries industry, by application in 2023.

The largest markets for medical batteries can be found with cardiac pacemakers, in which it is of absolute importance to have long-term, reliable power sources. Pacemakers are electronic devices implanted in order to stimulate heart muscles and provide normal heartbeats. Devices of this type require a battery that will provide essentially constant voltage output over extended periods to guarantee its continuous operation and patient safety. This makes reliability and life expectancy very critical because frequent replacement or failures poses severe health risks to the patients. There is, therefore, a huge need for advanced battery technologies that could provide a blend of high energy density with compact size and robust performance characteristics. It is such focus that drives innovation in the medical battery sector, and currently, a good amount of research is under way to increase the efficiency and life of batteries in order to meet the stringent requirement of cardiac pacemakers.

Hospitals and surgery centers segment accounted for a considerable share in the medical batteries industry, by end users in 2023

According to end-users, the global medical batteries market may be divided into hospitals and surgery centers, ambulatory care centers, clinics, imaging scenters centers, and others. Among these, the hospitals segment is likely to have quite a decent share in the global market during the forecast period. This will be driven by unabated demand for medical batteries, further driven by improvements in health technology and enhanced focus on sustainability, along with an uninterrupted power supply in high-priority healthcare settings.

North America dominated the medical batteries industry in 2023.

North America holds the greatest portion of the global medical batteries market, trailed by Europe and the Asia-Pacific. This is due to the high-paced development of medical technology taking place in this region. Increased sophistication and resulting portability of medical devices naturally drive demand for a reliable and feasible power source. Medical batteries are applied in powered devices like infusion pumps, heart rate monitors, and glucose monitors within a host of healthcare environments.

Again, increasing interest in telemedicine boosts the demand for reliable medical batteries. The Growth in remote patient monitoring and virtual consultations calls for medical devices that can work independently, not always plugged into a power supply. Similarly, the wide reach of medical implants has also accelerated the demand for specialty batteries in North America. These factors This is what makes the outlook for the North American market quite optimistic in the coming years. The regulatory environment allows for innovation, and adoption of medical battery solutions is likely to further strengthen North America's lead in the industry.

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Prominent players in the Medical Batteries Market include Panasonic Holdings Corporation (Japan), Maxell Ltd. (Japan), Murata Manufacturing, Ltd. (Japan), EnerSys (US), Energizer Holdings, Inc. (US), Arotech Corporation (US), Camelion Battery Co., Ltd. (China), Duracell Inc. (US), EaglePicher Technologies LLC (US), Guangzhou Battsys Co., Ltd. (China), Renata SA(Switzerland), Saft (France), Tadiran Batteries Ltd. (Israel), Toshiba Corporation (Japan), Ultralife Corporation (US), Varta AG (Germany), Videndum Plc (UK) among others.

Scope of the Medical Batteries Industry:

The study categorizes the medical batteries market to forecast revenue and analyze trends in each of the following submarkets:

By Battery Type

• Lithium Batteries
  • Li Metal Batteries
  • Li-ion Batteries
• Alkaline Batteries
• Zinc Air Batteries
• Nickel Metal Hydride Batteries
• Other Batteries

By Capacity

• 600 mah Or Below
• 600 – 1,200 mah
• 1,200 mah Or More

By Application

• Implantable Medical Device
  • Cardiac Pacemakers
  • Defibrillators
  • Cochelear Implants
  • Implantable Drug Delivery Devices
  • Implantable neuromonitoring devices
  • Other implantable devices
• Non-Implantable Medical Device
  • Patient Monitoring Devices
  • Medical Imaging Systems
  • Infusion pumps
  • Powered surgical Tools
  • Electric Wheelchairs
  • Hospital Beds
  • Energy Based asthetic devices
  • Other Devices

By Portable & Wearable Medical Devices:

• Blood Glucose Monitors
• Health & fitness Tracker
• External Defibrillators
• Wearable Defibrillators
• Oxygen Concentrators
• Portable Diagnostic Devices
• Respiratory Monitoring Devices
• Insulin Pumps
• Other Devices

By End User

• Hospital & Surgical Centers
• Ambulatory Care Centers
• Medical device Manufacturers
• Clinics & Imaging Center
• Home care & DME Shops
• Research Institutes
• Other End Users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • Italy
  • Spain
  • France
  • RoE
• Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • RoAPAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • Rest of Middle East and Africa

Recent Developments of Medical Batteries Industry:

• In April 2024, Murata Manufaturing (Japan), expanded its Silicon Capacitor manufacturing with a new 200-mm mass production line in Caen, France.
• In May 2024, EnerSys (US), announced the acquisition of Bren-Tronics, Inc., a leading manufacturer of portable power solutions for military and defense applications, to expand its presence in critical defense applications. The acquisition is expected to strengthen EnerSys' Specialty Aerospace & Defense business and increase its revenue and profitability from lithium products.
• In May 2023, Duracell Inc. (US), Duracell and The American Academy of Pediatrics(US) partnered to promote lithium coin battery safety through their "Power Safely" initiative. They educate parents and caregivers on safe practices, distribute safety checklists, and advocate for secure battery packaging.

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