Market Overview:

The Global Battery For Medical Implantable Devices Market Was Valued At USD 28.82 Billion In 2022, Growing At A CAGR Of 7.63% During The Forecast Period From 2022 To 2030, To Reach USD 51.90 Billion By 2030.

Medical batteries are batteries that give devices more power and allow them to work for longer. These are used to hold the tools in place during operations. Medical batteries are used in bone growth stimulators, which need a small amount of steady current. A battery pack is used to provide long-term, steady power. Automatic external defibrillators use these medical batteries to get low-current pulses at regular intervals. The energy density and specific energy of medical batteries are the highest.

Battery systems have one or more storage batteries and battery chargers, as well as inverters, converters, and other electrical equipment. As more and more instruments become computerized and portable, the performance and reliability of systems depend on their batteries. Based on their chemical make-up, there are three main types of batteries that are used in medical devices. These are lithium batteries, nickel-metal hydride batteries, and zinc-air batteries. In recent years, there has been a big rise in the demand for medical batteries. This is because lithium-ion battery technology has improved to make them work better and last longer. For example, in December 2017, Surwon Technology, a Hong Kong-based company, finished the process of layering graphene to move energy through a lithium-ion battery.

Market Dynamics:

Market Trends:

• Growing Customer Preference for Wearable Devices

Fitness is becoming more important to adults around the world, and monitoring and diagnosis are becoming more important to regional and national health agencies. Both of these factors have led to a higher demand for fitness trackers. Even though wearable devices have problems like security and privacy concerns, fitness trackers and activity monitors are still very popular because they are easy to use and have a lot of benefits.

As the COVID-19 pandemic spread and people became more worried about their health, the market for these devices picked up speed. For example, a survey done by ValuePenguin in March 2022 found that 45% of people in the U.S. wear fitness trackers. Also, about 69% of Americans don't mind wearing these devices if it means they can save money on their health insurance.

The number of people who buy these devices has also grown because market players have made better models with more features and lower prices.

Driving Factors:

• Rising Prevalence of Chronic Diseases to Surge the Demand for Medical Devices

Because people are becoming less active, chronic diseases like cancer, diabetes, and other infectious diseases are becoming more common. Through awareness programs, health agencies in many countries are working to increase the number of diagnoses and treatments. As people become more aware of and more likely to have these conditions, the number of people who need diagnostic procedures and tests is also growing. Also, the number of older people is growing quickly, which is increasing the need for ophthalmology and orthopedic procedures because more and more older people have vision problems and break bones in their joints.

• Shift toward Homecare Settings to Increase the Demand for Portable Devices

The growing number of people with chronic diseases and the cost of treating them are putting a lot of stress on the health care systems of many countries. Because of this, the cost of treating these diseases around the world went up a lot. Overall, it costs a lot more to treat a patient as an inpatient in a hospital, and the longer a patient stays in the hospital, the more money it costs.

As the cost of living goes up and the number of people over 60 goes up, there is a shift in the way people feel about home healthcare services. Additionally, with increasing efforts of key players and healthcare agencies to develop and launch new and easy-to-use medical equipment such as portable and wearable devices for the treatment of chronic diseases, the adoption of home healthcare services is rapidly rising in developed countries.

Restraints/Challenges:

• High Cost of Devices and Inadequate Reimbursement Policies in Emerging Countries 

In the last ten years, there have been changes in the medical device industry, such as the use of new technologies and the creation of new designs. The high cost of these devices, which includes both the cost of buying them and the cost of keeping them running, makes them more expensive to own overall. Some of the more advanced devices have other parts like chips, batteries, sensors, and other accessories that need to be replaced from time to time.

This makes the cost of ownership for hospitals and surgical centers more than it would be otherwise. Also, getting paid for medical devices has been a problem in developing countries, making it harder for people to use them. So, the relatively low use of medical devices in emerging countries is due to the above reasons and the fact that their reimbursement policies aren't good enough.

• Safety Concern Related to Lithium Batteries

Concerns about the safety of lithium batteries is one of the biggest things that slows the growth of the global medical batteries market. Lithium batteries that can be recharged can overheat and even catch fire if they are overcharged, overloaded, or put under too much pressure from the outside or inside. The U.S. Food and Drug Administration (FDA) has issued a warning about the use of lithium-ion batteries in mobile medical carts and how they could cause fires. For example, pubmed data from May 2022 shows that fires broke out at Northern Beaches Hospital in Frenchs Forest, Australia, in February and April of that year. In both cases, lithium-ion batteries were being charged when they got too hot. This is called "thermal runaway," and it caused the batteries to catch fire.

Opportunities:

• Increasing Research and Development Investment

The medical devices market is expected to grow in the coming years because medical technology companies are putting more money into research and development due to the rise of chronic diseases and because it is easy for the government to approve these devices. The article in Regulatory Affairs Professionals Society (RAPS) says that the Center for Devices and Radiological Health (CDRH) of the US Food and Drug Administration (FDA) approved or authorized 13 devices in the year 2021. The growth of the medical devices industry is also helped by the fact that pharmaceutical, biopharmaceutical, and medical devices companies are spending more on research and development.

• Technological Advancements

Implantable medical devices could work better and last longer if battery technology keeps getting better. For example, making batteries that are smaller and work better can lead to smaller devices, longer battery life, and more comfort for the patient.

• Increasing Prevalence of Chronic Diseases

The demand for medical implantable devices is driven by the rise of chronic diseases like heart disease, neurological disorders, and pain that doesn't go away. Because of this trend, there is a growing need for batteries that work well and last a long time.

Strategic Development:

• In January 2023 - The USFDA gave Abbott permission to use the Proclaim XR Spinal Cord Stimulation (SCS) system to treat the painful symptoms of diabetic peripheral neuropathy (DPN).
• In January 2023 - The USFDA gave Abbott permission to use the Navitor Transcatheter Aortic Valve Implantation (TAVI) system to treat people with severe aortic stenosis who are at high or very high risk for open-heart surgery.
• In December 2022 - Johnson & Johnson Services, Inc. said that it would buy Abiomed, Inc. The goal of the acquisition was to speed up the growth of the MedTech business and give more people around the world access to new medical technologies.
• In November 2022 - Boston Scientific Corporation and Apollo Endosurgery, Inc. made a deal for Boston Scientific to buy Apollo Endosurgery. Some of the products made by Apollo Endosurgery are used in Endoluminal Surgery (ELS) procedures.
• In November 2022 - Siemens Healthineers AG and Atrium Health signed an agreement to work together for a number of years. The strategic agreement will focus on making it easier for people in Atrium Health's service area in the southeastern U.S. to get care, improving health equity, and making it easier for people to move up the economic ladder.

Key Vendors:

Top market players are

• EaglePicher Technologies

EaglePicher Technologies makes batteries and things that go boom. It sells thermal batteries, primary and secondary batteries, battery management systems, chemicals, packages, and explosive and pyrotechnic devices. The company works with businesses, the military, the space industry, and the aviation industry.

• EnerSys

EnerSys is a company that makes solutions for stored energy. It makes, sells, and ships things like reserve power and motive power batteries, power equipment, battery chargers, battery accessories, and outdoor equipment enclosure solutions for industrial use.

• Quallion

Quallion designs, makes, and sells state-of-the-art lithium ion cells and battery packs. It also develops new battery chemistries for the military, aerospace, medical, and automotive industries.

• Excellatron

In 1999, Excellatron Solid State, LLC was set up. The business of the company is to do physical and biological research and development for commercial purposes.

• Integer

Integer Holdings Corp makes parts for medical devices that are used by the companies that make the original equipment. The company also makes batteries for the energy, military, and environmental markets that aren't used in medicine.

• Panasonic Corporation

Panasonic Holdings Corp (Panasonic), which used to be called Panasonic Corp, makes, sells, and fixes a wide range of electric and electronic goods. Panasonic makes room air conditioners, TVs, fixed phones, digital cameras, video equipment, home audio equipment, rice cookers, lamps, wiring devices, air conditioning equipment, air purifiers, and bicycles.

• Tadiran Batteries Ltd

Tadiran is the best company in the world at designing, developing, making, and selling Lithium batteries for industrial use. The company is one of the best at making lithium batteries for use in business.

Segmentation Analysis:

The market is segmented on the basis of type, end-user, nature of device and region.

By Type Outlook:

In terms of type, the In-Vitro Diagnostics (IVD) segment is expected to have a higher CAGR due to the growing use of real-time diagnostic tests for accurate diagnosis of chronic and infectious diseases like diabetes, cancer, HIV/AIDS, and others. In 2022, the other segment had the largest share of the market. This was because medical clothing, masks, gloves, surgical lights, fetal monitors, and other hospital supplies were in higher demand and being used more. The wound management segment is also expected to grow at a high CAGR because more money is being put into medical device companies to make new wound devices and bioactive therapies.

The minimally invasive surgery (MIS) segment is also expected to grow during the forecast period due to technological advances in surgical robots and a rise in their use by healthcare providers. But the orthopedic and cardiovascular device markets are expected to grow at a fast rate because the number of people with heart problems and orthopedic problems is growing around the world.

Also, the growing number of people with diabetes and retinal disorders is expected to increase the use of diabetes care and ophthalmic devices, which will drive market growth over the next few years.

• Orthopedic Devices
• Cardiovascular Devices
• Diagnostic Imaging
• IVD
• MIS
• Wound Management
• Diabetes Care
• Ophthalmic Devices
• Dental
• Nephrology
• General Surgery
• Others

By End-User:

The market is made up of hospitals and ASCs, clinics, and other places. In 2022, hospitals and ASCs had the biggest share of the market. This was because there were more multispecialty and community hospitals, especially in developing countries.

So, the above factors and the growing focus of healthcare agencies and the government on the development of healthcare infrastructure and routine diagnosis and treatment of patients have led to a greater awareness among the general public, which is driving the market growth during the forecast period.

During the forecast period, the clinics and other segments are expected to grow at a high CAGR. This is because public and private players are investing more money in small and medium-sized clinics and long-term care centers around the world to improve healthcare infrastructure.

• Hospitals & ASCs
• Clinics
• Others

By Nature of Device:

In 2021, more than 30% of the market for implantable medical devices around the world came from the active segment. This was the most profitable part of the market. The market is growing because there is more demand for devices that can be implanted and do something. Active implantable medical devices include pacemakers, infusion pumps, ventricular assist systems, and defibrillators. More people will have Parkinson's disease, spasticity, and other neurological problems, which will drive up market demand.

• Active
• Passive

Regional Insights:

Geographically, the global Battery for Medical Implantable Devices market has been looked at in places like North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India. In the near future, this market will be led by the global Battery for Medical Implantable Devices region.

North America: The United States is the biggest player in North America, with a large share of the market. As the number of surgeries done each year has gone up, so has the demand for implantable medical devices at hospitals and diagnostic centers across the country. This is because these devices can use wireless technology to check on the health of patients from a distance.

Latin America: Due to its large number of elderly people with chronic diseases that need to be checked on regularly at home by nurses or doctors, Brazil is expected to be one of the key players that will drive revenue during the forecast period.

Europe: Germany is the biggest market in Europe because it has a strong healthcare system and a large number of patients who are likely to use implantable medical devices in the years to come.

Asia-Pacific: China has a large share of the global market for batteries for medical implantable devices and leads the Asia-Pacific region. This is because hospitals, clinics, diagnostic centers, and other players in different parts of the world are investing more in advanced technologies like wireless monitoring. Systems that need a backup battery in case of an emergency or a power outage at the facility.

Middle East and Africa (MEA): MEA is one of the most promising markets, and the demand for batteries used in these devices is expected to grow by a large amount over the forecast period. This is because more surgeries are being done every year and people have more money to spend. Driving demand for batteries.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The scope of the Global Battery for Medical Implantable Devices Market report is a detailed study of the factors that drive the industry trends.
• The report looks at how markets are changing at the regional and country level. The scope also includes an overview of the competition, with company market shares and profiles for the top revenue-generating companies.
• The report's scope includes a detailed look at the competitive landscape, including market shares and profiles of the major players in the Global Battery for Medical Implantable Devices Market.