Medical Batteries Market Size to Reach USD 3.33 Billion by 2032, Growing at a CAGR of 6.03% – SNS Insider
Rising Demand for Portable Medical Devices and Advancements in Battery Technologies Fuels Market Growth
Pune, Feb. 27, 2025 (GLOBE NEWSWIRE) — Medical Batteries Market Size & Growth Analysis:
“According to SNS Insider, The Medical Batteries Market size was valued at USD 1.96 billion in 2023 and is projected to reach USD 3.33 billion by 2032 at a CAGR of 6.03% during the forecast period from 2024 to 2032.”
This growth is driven mainly by advances in battery technologies and the expanding use of portable and implantable medical devices. The higher prevalence of chronic ailments that need to be constantly monitored and the shift towards home-based care have vastly expanded the reliance on implantable and portable medical devices. This, in turn, has generated an added demand for durable, consistent, and effective medical batteries. Technical advancements, and particularly those of lithium-ion battery technology, have increased energy density and safety functions to accommodate a wide range of medical applications.
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Key Medical Batteries Companies Profiled
- Panasonic Holdings Corporation (Lithium Batteries, Nickel-Metal Hydride Batteries)
- Duracell Inc (Medical Alkaline Batteries, Medical Lithium Coin Cells)
- Varta AG (Rechargeable Lithium Batteries, Zinc-Air Batteries)
- Energizer Holdings, Inc. (Lithium Batteries, Zinc Carbon Batteries)
- Saft Group S.A. (lithium-ion batteries, Lithium Sulfur Dioxide Batteries)
- Murata Manufacturing Co., Ltd. (Rechargeable Lithium Batteries, Coin Cell Batteries)
- Toshiba Corporation (Lithium-ion Batteries, Sodium-ion Batteries)
- Maxell Holdings, Ltd. (Rechargeable Lithium Batteries, Silver Oxide Batteries)
- BYD Company Ltd. (Lithium Iron Phosphate Batteries, Lithium Polymer Batteries)
- A123 Systems, LLC (Lithium-ion Batteries, Lithium Iron Phosphate Batteries)
- Samsung SDI Co., Ltd. (Rechargeable Lithium-ion Batteries, Lithium Polymer Batteries)
- LG Chem Ltd. (Lithium-ion Batteries, NCM (Nickel Cobalt Manganese) Batteries)
- Sanyo Electric Co., Ltd. (Lithium-ion Batteries, Nickel Metal Hydride Batteries)
- Zhongtai Electric Co., Ltd. (Lithium-ion Batteries, Lead-Acid Batteries)
- Eve Energy Co., Ltd. (Lithium Iron Phosphate Batteries, Lithium-ion Batteries)
- Johnson Controls International plc (Lead Acid Batteries, Lithium-ion Batteries)
- EnerSys (Lithium-ion Batteries, Lead-acid Batteries)
- Aker Wade Power Technologies (Lithium-ion Batteries, Nickel-Cadmium Batteries)
- PowerStream (Rechargeable Lithium Batteries, LiFePO4 Batteries)
- EVE Energy Co., Ltd. (Lithium-Ion Batteries, Rechargeable Li-ion Batteries)
Medical Batteries Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.96 Billion |
| Market Size by 2032 | US$ 3.33 Billion |
| CAGR | CAGR of 6.03% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Analysis
By Type:
Lithium-ion batteries were the leading segment in 2023, with a market share of about 45%. This is because they have high energy density, a longer lifespan, and are light in weight, which makes them ideal for use in different medical devices, such as implantable and portable devices. The fact that lithium-ion batteries are rechargeable also fits well with the healthcare industry’s focus on sustainability and cost savings. The most rapidly expanding category is zinc-air batteries. Zinc-air batteries are becoming popular because they have high energy density and are economical, especially in hearing aids and other audio devices. Its growth is driven by the growing incidence of hearing impairment and the resultant demand for power-efficient solutions in hearing medical devices.
By End User:
Hospitals led the market in 2023, having a major stake in the end-user segment. This is due to the immense rate of adoption of sophisticated medical devices that need secure power sources for maintaining continuous patient care. The urgency of the operations in hospitals demands the application of reliable and effective batteries in life-support equipment. The most rapidly expanding end-user segment is home healthcare environments. Growing chronic diseases and the aging population have increased the demand for home-based care. This trend has fueled the demand for portable medical devices, hence the demand for effective and long-lasting medical batteries for home applications.
By Application:
In 2023, implantable medical devices dominated the market due to the growing incidence of chronic diseases like cardiovascular diseases, which necessitate the use of pacemakers and defibrillators. The nature of these devices being critical, highly reliable, and long-lasting batteries are required to provide patient safety as well as ensure the effectiveness of the device. The most rapidly growing application area is wearable and portable medical devices. The increasing need for constant health monitoring and the use of wearable technology for proactive health care has accelerated the demand for smaller, more efficient, and long-lasting batteries. These products need batteries with long operating life and reliability to satisfy both healthcare professionals and end users.
By Capacity:
Batteries with 600 to 1200 mAh capacities were the most prevalent in 2023. This capacity range is suitable for a wide range of medical devices since it provides a balance between energy storage and size, which is important for both implantable and portable applications. The most rapidly growing capacity category is batteries larger than 1200 mAh. Advanced medical devices’ increased functionality and complexity call for greater capacity batteries to support long-term usage without needing replacements or recharges frequently. The need is strongly demonstrated in multiple-function devices or devices that take considerable energy to work effectively.
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Medical Batteries Market Segmentation
By Type:
- Lithium Batteries
- Li-Ion
- Li Metal
- Alkaline
- Zinc Air
- Nickel
By Application
- Implantable Devices Batteries
- Non-Implantable Devices Batteries
- Portable & wearable medical devices
By Capacity
- <600
- 600 – 1200
- >1200 mAh
By End User
- Hospital
- Clinic
- Diagnostics Centers
- Home Care Settings
- Other End Users
Regional Insights
North America dominated the Medical Batteries Market in 2023 with a major share of 37%. The reason behind this dominance is the presence of highly developed healthcare infrastructure, a high rate of adoption of cutting-edge medical technologies, and heavy investment in research and development. The availability of prominent medical device manufacturers also supports the market in this region.
The Asia Pacific region is witnessing high growth in the Medical Batteries Market. The expansion is driven by drivers like growing healthcare spending, escalating awareness of innovative medical treatment, and a surge in an aging population. Further, the increased development of the healthcare infrastructure base and the implementation of portable medical devices in the case of countries like China and India are fueling the market growth in the region.
Recent Developments
- April 2024: Murata Manufacturing expanded its capabilities in silicon capacitor production by opening a new 200-mm mass production line in Caen, France. The move is to improve the company’s manufacturing capacity to cater to the increasing global demand for high-performance medical batteries.
- May 2024: EnerSys acquired Bren-Tronics, Inc., a leading producer of portable power solutions for defense and military use. The acquisition will strengthen EnerSys’ Specialty Aerospace & Defense segment by enhancing its position in key defense markets and fueling revenue and profitability growth through cutting-edge lithium products.
- July 2024: Panasonic released a new lineup of high-density lithium-ion batteries designed specifically for medical implants. The batteries were introduced to extend device performance and lifespan, taking advantage of the increased demand for power solutions in the medical industry.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Device Penetration and Battery Usage (2023)
5.2 Battery Technology Adoption Trends, by Region (2023)
5.3 Battery Production Volume, by Region (2020–2032)
5.4 Cost Analysis and Spending on Medical Batteries (2023)
6. Competitive Landscape
7. Medical Batteries Market by Type
8. Medical Batteries Market by Application
9. Medical Batteries Market by Capacity
10. Medical Batteries Market by End User
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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