Global Medical Batteries Market is valued to reach USD 3.2 Billion by 2026, growing at CAGR of 5.8% over forecast period 2020-2026. Growing prevalence of chronic and cardiovascular diseases, increasing demand for battery powered implantable and portable devices and rising development of light, long-life efficient batteries are key factors driving the market growth.This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report.
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Market Trends, Drivers, Restraints, and Opportunities:
- Rise in incidences of cardiovascular and chronic ailments are leading to constant development of advanced medical devices for treatment. This is expected to fuel market growth in the coming years.
- Surge in the demand for long-life, light and efficient batteries, especially for in-patient monitoring devices, is estimated to propel market growth. These areas include fetal and neonatal, glucometer, multi-parameter, temperature, hemodynamic, cardiac, neuro, respiratory, weight, and remote patient monitoring devices, wherein the adoption has of medical batteries has increased over the years. This, in turn, is boosting the growth of the market.
- Safety concerns regarding lithium batteries is a key issue limiting the growth of the medical batteries market.
- Growing incidence of chronic ailments such as cardio vascular and diabetes leads to the surge in the demand for medical batteries in devices essential for the treatment of these diseases; thereby drives market growth.
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Major companies in the global medical batteries market are Arotech Corporation, EaglePicher Technologies LLC, EnerSys, Liberating Technologies, Inc., Panasonic Corporation, Saft Group S.A., SHENZHEN KAYO BATTERY Co., Ltd, Tadiran Batteries Ltd., Ultralife Corporation, and Vitec Group plc. These companies implement numerous strategies such as acquisitions, product launches, agreements, collaborations, technological upgrades, mergers, and partnerships to gain market share and sustain in the competitive market.
- Implantable Devices Batteries
- Cochlear Batteries
- Implantable Cardioverter Defibrillator
- Infusion Pumps
- Neurostimulators Batteries
- Pacemakers Batteries
- Other Implantable Batteries
- Non-implantable Devices Batteries
- Critical Care Support Batteries
- Diagnostic Imaging Device Batteries
- In vitro Diagnostics Instrument Batteries
- Patient Monitoring Device Batteries
- Prosthetic Device Batteries
- Therapeutic Devices
- Other Non-implantable Batteries
- Lithium Batteries
- Nickel-metal Hydride Batteries
- Zinc-air Batteries
- Other Batteries
- Diagnostic Centers
- Home Care Settings
- Hospitals and Nursing Homes
- Other End-users
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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