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How has the medical batteries market grown in recent years?

The medical batteries market has shown strong growth, forecasted to rise from $1.75 billion in 2024 to $1.87 billion in 2025 at a CAGR of 6.9%. Growth in previous years was supported by the rising demand for portable medical devices, the increasing prevalence of chronic illnesses, expanding healthcare infrastructure, higher demand for long-lasting batteries, and an aging global population.

How is the medical batteries market size expected to evolve during the forecast period?

The medical batteries market is expected to grow significantly, reaching $2.4 billion by 2029 at a CAGR of 6.5%. Growth factors include expanding telemedicine use, increased focus on home healthcare, more regulatory approvals for medical devices, rising R&D investments in solid-state batteries, and the increasing use of electric wheelchairs. Key trends involve the development of rechargeable lithium-ion batteries with enhanced safety features, smart battery innovations, advanced battery management systems, wireless medical devices, and wireless charging integration.

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Which key drivers are propelling the medical batteries market’s growth?

The increasing demand for medical devices is set to boost the growth of the medical batteries market. Medical devices, used in healthcare to diagnose, treat, or monitor conditions, are in higher demand due to aging populations, rising chronic diseases, and advancements in healthcare technology. Medical batteries are essential for powering these devices, ensuring reliable operation of diagnostic tools, patient monitoring equipment, and life-saving devices. For example, total medical device sales rose from $14.485 billion in 2021 to $14.802 billion in 2022 and reached $16.887 billion in 2023. The demand for medical devices is fueling the medical batteries market’s growth.

What are the market segments in the medical batteries industry?

The medical batteriesmarket covered in this report is segmented –

1) By Battery Type: Lithium-ion Batteries, Nickel-Metal Hydride (NiMH) Batteries, Alkaline Batteries, Zinc-Air Batteries, Other Battery Type

2) By Application: Implantable Medical Devices, Non-implantable Medical Devices, Portable And Wearable Medical Devices

3) By End-User: Hospitals And Clinics, Home Healthcare Settings, Ambulatory Surgical Centers, Research Institutes

Subsegments:

1) By Lithium-ion Batteries: Lithium Cobalt Oxide (LCO), Lithium Iron Phosphate (LFP), Lithium Manganese Oxide (LMO), Lithium Nickel Cobalt Aluminum Oxide (NCA)

2) By Nickel-Metal Hydride (NiMH) Batteries: Standard NiMH Batteries, Low Self-Discharge NiMH Batteries

3) By Alkaline Batteries: Standard Alkaline Batteries, Rechargeable Alkaline Batteries

4) By Zinc-Air Batteries: Hearing Aid Zinc-Air Batteries, Medical Device Zinc-Air Batteries

5) By Other Battery Types: Lead-Acid Batteries, Silver-Oxide Batteries, Lithium Polymer (LiPo) Batteries

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Which leading companies are shaping the growth of the medical batteries market?

Major companies operating in the medical batteries market are TotalEnergies SE, Panasonic Corporation, 3M Company, Merck KGaA, Texas Instruments Incorporated, STMicroelectronics NV, Murata Manufacturing Co. Ltd., EnerSys Inc., Energizer Holdings Inc., Renata AG SA, VARTA Microbattery GmbH, Vitec Group PLC, EaglePicher Technologies LLC, Ultralife Corporation, Probo Medical LLC, Camelion Battery Co. Ltd., Maxim Integrated Products Inc., Tadiran Batteries Ltd., Blue Spark Technologies Inc., KAYO Battery Company Limited

What key trends are currently impacting the medical batteries market’s development?

Prominent businesses in the medical batteries market are shifting their focus towards the creation of lithium-ion medical batteries to improve the performance, safety, and dependability of medical devices. A lithium-ion medical battery is custom-made for use in medical appliances and equipment. These batteries are typically employed in devices like portable oxygen concentrators, insulin pumps, and other diagnostic or therapeutic equipment that require reliable and steady power. For example, Resonetics, LLC, a medical tech enterprise based in the US, launched Contego 1.5 mAh lithium-ion battery in January 2022, recognized as the tiniest standard rechargeable battery within the medical industry, exclusively designed for implantable devices. This ultra-small cylindrical cell measures a mere 0.299 inches in length and 0.114 inches in diameter, establishing it as the smallest available rechargeable lithium-ion battery off-the-shelf.

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Which geographic areas are influencing the growth of the medical batteries market?

North America was the largest region in the medical batteries market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical batteries market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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