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Global Medical Battery Market

  • August 2014
  • Frost & Sullivan
Report ID: 2357786

Summary

Table of Contents

Untapped Potential in the Asia-Pacific Region for Wireless Medical Devices Boosts Demand

This study analyses the global market for medical batteries. It includes revenue forecast, pricing trends, market trends, opportunities, and competitive overview for the period 2010–2020. The market is analysed through two main segmentations; it is categorised by battery chemistry and by end-user application. The geographic region segmentation includes North America; Europe; Asia-Pacific (APAC); and Rest-of-World. Key drivers and restraints, along with the different medical devices that drive the demand for batteries, are discussed in detail in this study.

Key Findings
-Medical battery market is a high growth potential market driven by untapped potential from the Asia-Pacific region and the acceptance for wireless battery-powered medical devices.
-North America and Europe are slowly reaching maturity, while the Asia-Pacific region offers large growth potential due to its large population base and increasing affordability.
-Continuing innovation and technological advancement increase the demand for efficient, high energy density batteries for medical devices, which may include thin film batteries to power wearable medical devices in future.
-The medical battery market has specialized, certified manufacturers which are moving towards consolidation by acquiring other major battery manufacturers or material manufacturers.
-The market for off-the-shelf battery products is commoditized. However, quality and reliability play major roles than battery pricing.
-Regulations, certifications and approvals play a major role in battery market. The medical battery market has a well-established middle layer of battery pack assemblers that supply certified batteries directly to an OEM.
-A few selected batteries from notable manufacturers are authorised to power medical equipment. Thus, most of the manufacturers limit their product line to one or two chemistries suited for that medical device.

CEO’s Perspective
1 Innovation and improvement of batteries never cease; The demand for advanced batteries that power wireless surgical tools is gaining momentum globally.
2 Robot-assisted surgeries and remote patient monitoring are the two cutting-edge technologies that boost demand for batteries.
3 Thin film batteries capable of powering wearable medical devices is likely to be the trend during the forecast period.
4 Quality, performance, certification, approvals and authorisation determine an active participant’s place in the medical battery market.
5 Asia-Pacific’s large population, low penetration and increasing prevalence of chronic illness paves way for strong demand for off-the-shelf medical devices.

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