According
to a new market report published by Lucintel, the future of the global medical
battery market looks promising in the segments of patient monitoring,
general medical devices, cardiovascular, orthopedic, and home healthcare. The global medical battery market is expected to reach
an estimated $2.2 billion by 2024 with a CAGR of 4.6% from 2019 to 2024. The
major drivers for this market are increasing demand for battery powered
portable and implantable devices in medical diagnostic and therapeutic practices.
In this market, lithium-ion, lead acid, zinc
air, and others (including nickel-cadmium), are the main battery chemistries
used for manufacturing medical batteries. On the basis of
comprehensive research, Lucintel forecasts that lithium-ion batteries will remain
the largest segment as well as witness the highest growth over the forecast
period due to their unique characteristics, such as high voltage and energy
density. These qualities make lithium-ion batteries the preferred choice for
implantable medical devices.
In the global medical battery market, the cardiovascular
device battery segment is expected
to witness the highest growth over
the forecast period due to increasing
chronic and cardiovascular diseases in various regions.
In this market, implantable and non-implantable batteries
are used in various medical devices. The non-implantable battery segment is
projected to remain the largest market over the forecast period due to
increasing healthcare awareness and demand for portable medical devices for
frequent self-monitoring and for disease treatment.
North America is anticipated to remain the largest market
due to its advanced healthcare infrastructure. APAC is expected to witness
the highest growth over the forecast period due to increasing awareness and advancement of
healthcare in this region.
Emerging trends which have a direct impact on
the dynamics of the market include increasing recycling of lithium-ion
batteries to reduce waste and introduction of thin film batteries to make lightweight,
smaller size wearable devices. GE Healthcare, Siemens, Kholberg Kravish Roberts, Boston Scientific, Integer
Holding, EaglePicher Technology, and Saft Group are among the major suppliers
of medical batteries.
Lucintel, the
leading global strategic consulting and market research firm, has analyzed
growth opportunities in the global medical battery market by application, battery
chemistry type, product type, battery type, capacity type, and region to compile a comprehensive research report titled, “Growth
Opportunities in the Global Medical Battery Market 2019-2024: Trends, Forecast,
and Opportunity Analysis.” The Lucintel report serves as a catalyst for
growth strategies by providing comprehensive data and analysis on trends, key
drivers, and directions. The study includes trends and forecast for the global medical
battery market by application, battery
chemistry type, product type, battery type, capacity type, and region, as
follows:
By Application [Value ($ Million) from 2013 to 2024]:
· Patient
Monitoring Devices
· General
Medical Devices
· Cardiovascular
Medical Devices
· Orthopedic
Devices
· Home
Healthcare Devices
· Other Devices
By Battery
Chemistry Type [Value ($ Million) from 2013 to 2024]:
· Lithium-ion
· Lead Acid
· Zinc Air
· Others
By Product [Value
($ Million) from 2013 to 2024]:
· Implantable
Batteries
· Non-Implantable
Batteries
By Battery
Type [Value ($ Million) from 2013 to 2024]:
· Rechargeable
· Non-Rechargeable
By Capacity Type [Value ($ Million) from 2013 to 2024]:
· Less than 1000
mAh
· 1000-2000 mAh
· Above 2000
mAh
By Region [Value
($ Million) from 2013 to 2024]:
· North America
− United States
− Canada
− Mexico
· Europe
− Germany
− France
− United Kingdom
− Italy
− Spain
· APAC
− China
− India
− Japan
· ROW
− Brazil
This
225-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com.
Lucintel offerings include Medical
Market Analysis, Medical
Market Research, Opportunity
Screening and Analysis, Capital
Investment Feasibility and SWOT Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This report addresses the following key
questions:
Q. 1.
What are some of the most promising, high growth opportunities for the global medical
battery market by application (patient monitoring, general medical,
cardiovascular medical, orthopedic, home healthcare, and other devices),
battery chemistry type (lithium-ion, lead
acid, zinc air, and others), product (implantable and
non-implantable), battery type (rechargeable and non-rechargeable), capacity
type (0-1000 mAh, 1000-2000 mAh, and 2000-above mAh), and region (North
America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2. Which product segment will grow at a
faster pace and why?
Q. 3. Which region will grow at a faster pace
and why?
Q.4.
What are the key factors affecting market dynamics? What are the drivers, challenges,
and business risks in this market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6. What are the emerging trends in this
market and the reasons behind them?
Q.7. What are some of the changing demands of
customers in the market?
Q.8.
What are the new developments in the market and which companies are leading these
developments?
Q.9.
Who are the major players in this market? What strategic initiatives are being
taken by key companies for business growth?
Q.10.
What are some of the competing products in this market and how big of a threat
do they pose for loss of market share by product substitution?
Q. 11. What M&A activity has occurred in
the last 5 years?
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