CHICAGO, July 31, 2024 /PRNewswire/ -- The global Medical
Batteries Market is expected to grow from USD 2.0 billion in 2024 to USD 2.7 billion by 2029, at a CAGR of 6.2%. The
medical batteries market is vital to healthcare, supporting a wide
range of devices from portable to complex life-saving equipment. As
healthcare technology and the demand for portable devices grow,
there is a push for reliable, long-lasting batteries that meet
stringent safety standards. The rise in chronic diseases fuels the
demand for medical batteries, as they power critical devices such
as insulin pumps and pacemakers. However, stringent regulatory
requirements and supply chain disruptions pose challenges,
affecting innovation and production. Opportunities lie in the
development of next-generation batteries, such as solid-state and
lithium-sulfur, which promise greater energy density and safety.
The lithium battery segment is expected to grow significantly due
to its high energy density and compact size, while cardiac
pacemakers and hospitals are major application areas. North America leads the market due to advanced
medical technology and a strong regulatory environment, fostering
innovation and adoption in the region. Key players in the market
include Panasonic, Maxell, and Energizer, among others.
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Panasonic Holdings Corporation: Leader in Advanced Battery
Solutions for Healthcare
Panasonic Holdings Corporation excels in providing advanced
battery solutions crucial for the healthcare industry, leveraging
its expertise from automotive and industrial sectors. The company's
Energy segment plays a vital role, offering specialized batteries
designed for durability, efficiency, and reliability in medical
devices. Renowned brands like Panasonic, Sanyo, and Eneloop are
synonymous with high-performance and longevity. Panasonic Energy
Co., Ltd., its dedicated subsidiary, operates globally across
North America, Europe, and Asia, ensuring diverse energy needs are met.
The company's strategic strengths include a robust supply chain,
cost competitiveness, and advanced R&D capabilities, with
recent investments in facilities like the Kansas factory highlighting its commitment to
efficient production and cutting-edge technology. Panasonic's focus
on sustainability and eco-friendly practices aligns with global
environmental trends, reinforcing its leadership in the battery
industry and its capacity to drive innovation in meeting evolving
healthcare demands.
Energizer Holdings, Inc.: Global Provider of High-Performance
Batteries and Lighting Solutions
Energizer Holdings, Inc., a prominent global provider, operates
through three core segments: Battery, Auto Care, and Lights. Its
Battery and Lights segments are crucial, offering various batteries
for medical devices such as hearing aids and glucose monitors. The
company's portfolio includes well-known brands like Energizer,
Eveready, Rayovac, and Varta, which encompass alkaline, lithium,
rechargeable batteries, and portable lighting solutions.
Subsidiaries like Energizer Battery, Inc. and Rayovac Corporation
bolster its global market presence. With a robust footprint across
North America, Europe, Asia
Pacific, Latin America, and
the Middle East & Africa, Energizer is dedicated to innovation
and reliability, particularly in powering essential medical
devices.
Toshiba Corporation: Specialist in High-Performance Medical
Batteries
Toshiba Corporation delivers high-performance, reliable, and
safe battery solutions tailored for critical medical devices,
including implantable cardiac devices, patient monitoring systems,
and portable diagnostic equipment. Utilizing advanced lithium-ion
technology, Toshiba's medical batteries offer high energy density,
robust safety features to prevent overheating and overcharging, and
long cycle life for durability in demanding medical environments.
Toshiba's growth in this sector is driven by continuous innovation
and strategic R&D investments, meeting the evolving needs of
healthcare. Strong partnerships with medical device manufacturers
and healthcare providers further integrate their batteries into
various applications, reinforcing Toshiba's position as a global
leader in the medical batteries market and enhancing patient care
and outcomes.
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Product Segmentation: Alkaline Batteries Lead the Medical
Batteries Market
In 2023, the medical batteries market is characterized by its
diverse product segments, including lithium, alkaline, zinc air,
nickel metal hydride, and other batteries. Among these, alkaline
batteries emerged as the largest segment, driven by their
affordability, reliability, and eco-friendly characteristics.
Technological advancements have enhanced their cost-effectiveness,
while increasing urbanization and consumer spending have further
boosted demand. Alkaline batteries are particularly valued for
backup systems, remote sensing, and IoT applications in healthcare,
ensuring dependable power for essential medical devices.
Capacity Segmentation: Batteries Below 600 mAh
Dominate
The medical batteries market also segments based on capacity,
including batteries below 600 mAh, 600 to 1200 mAh, and above 1200
mAh. In 2023, batteries with a capacity of "below 600 mAh" held the
largest market share within healthcare settings. This is due to the
rising demand for compact, powerful, portable, and wearable medical
devices. Advances in battery technology have increased energy
density, offering extended operational times without enlarging
battery size, and enhanced safety features have contributed to
their widespread adoption. Companies like VARTA Microbattery and
Renata SA excel in this segment, with products such as VARTA's
CoinPower series and Renata's lithium and silver oxide batteries
providing high reliability for low-power medical devices. The trend
towards miniaturization and innovation has significantly boosted
demand and market presence for these batteries.
Regional Insights: North America Leads the Market
In 2023, North America is
expected to dominate the global medical batteries market,
accounting for a 45.0% share. This dominance is driven by the
substantial presence of major medical device manufacturers and
increasing healthcare spending in the US and Canada. Key healthcare institutions in the
region rely heavily on critical medical devices that require
reliable energy storage solutions. North
America's status as an early adopter of new medical
technologies, supported by higher patient affordability, also fuels
demand for advanced battery technologies. Additionally, the
region's strong focus on research and development within the
healthcare industry, alongside significant investments in
innovative medical products, further solidifies its leading
position. The favorable regulatory environment in North America supports ongoing product
development, reinforcing its dominance in the global medical
batteries market.
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