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Medical Batteries Market Size to Observe Steady Growth by 2021
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On the basis of difference in configuration, medical batteries are of many types such as lithium ion (Li-ion) battery, nickel cadmium (Ni-Cd) battery, nickel metal hydride (Nimh) battery and alkaline-manganese battery. Various risks involved with the use of medical batteries are battery depletion, high internal resistance and battery leakage. Medical battery may be used with various medical devices such as pacemakers, infusion pumps and implantable cardioverter defibrillators. If required, more than one battery may be used for working of a single medical device. The global medical batteries market is driven by technological advancement in the healthcare facilities and improvement in the reimbursement scenario.
North America dominates the global market for medical batteries due to improved healthcare facilities and broad technical applications of medical batteries in the region. Asia, followed by the Europe, is expected to experience high growth rate in next few years in global medical batteries market. China and India are expected to be the fastest growing medical batteries markets in Asia-Pacific region. Some of the key driving forces for medical batteries market in emerging countries are large pool of patients, improvement in the healthcare facilities and rising government funding.
In recent times there is increased use of medical batteries due to improvement in the healthcare facilities. Some of the major factors driving the global medical batteries market include increasing number of patients with chronic diseases, growing awareness for different medical electronic equipments available and increased government funding. In addition, technological advancement is also fuelling the growth of global medical batteries market. However, limited technical knowledge related to medical batteries, low acceptance due to high cost and availability of alternative technologies are some of the major factors restraining the growth for global medical batteries market
Growing demographics and economies in the developing countries such as India and China are expected to offer good opportunities for medical batteries market. Innovation of some new products with focus on better efficiency is expected to offer good opportunity for the global medical batteries market. In addition, broaden application of medical batteries would develop opportunity for global medical batteries market. However, high cost involved in manufacturing of medical batteries could lead a challenge for global medical batteries market.
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Some of the major companies dealing in global medical batteries market are Siemens Ag, GE Healthcare, Maxim Integrated and Panasonic Corp. Some of the other companies having significant presence in the global medical batteries market include Texas Instruments, Quallion LLC, Stmicroelectronics N.V., Ultralife Corp., Electrochem Solutions, Inc. and EaglePicher Technologies, LLC
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