Global Battery Market for Medical Devices Industry 2018-2022

Overview of the global battery market for medical devices industry

Technavio’s market study identifies the growing medical tourism in India to be one of the primary growth factors for the battery market for medical devices industry. India is gaining popularity globally due to the low cost of surgeries and highly-efficient skilled medical personnel, in comparison to developed countries. The cost of bariatric surgery in India is 47% cheaper in comparison to the US. Patients globally visit India for treatments such as in vitro fertilization (IVF), gynecological treatment, and cosmetic surgeries, as these surgeries are 30% of the surgery cost in the US. Owing to the rising number of applicants for medical visas to the country, the government has simplified the procedure to encourage more medical tourists in the country. Our market analysts estimate that the market will grow steadily at a CAGR of greater than 7% by 2022.

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The growing use of primary batteries is increasing the groundwater and environmental contamination, due to their constitution of harmful materials. This is encouraging the governments in numerous countries to lay down legislations on battery recycling to develop environment friendly batteries and ensure efficient recycling. Varying recycling technologies for different batteries will aid in ecological sustainability. The market witnesses a directive to collect and recycle batteries while ensuring efficient and ecofriendly battery disposal. The growing legislative support for battery recycling will drive the growth of the battery market for medical device industry throughout the forecast period.  

Companies covered

The battery market for medical devices industry is moderately fragmented due to the presence of several international and regional vendors. The medical batteries market research report helps clients identify new growth opportunities and design effective strategies by offering an analysis of the competitive landscape and the key areas of focus of the companies. This will in turn, aid the medical device manufacturers in this market to emphasize on differentiating their products from the competitors and improve their revenue share.

This research report provides an analysis of the various companies in this market including:

• Duracell
• Energizer Holdings
• EnerSys
• Panasonic
• Saft
• Tadiran

Segmentation by product and analysis of the battery market for medical devices industry

• Primary battery
• Secondary battery

As per the medical batteries market research report, the primary battery product segment will dominate the shares of the market throughout the forecast period.

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Geographical segmentation and analysis of the battery market for medical devices industry

• Americas
• APAC
• EMEA

The Americas will be the major revenue contributor to the medical batteries market throughout the forecast period. The market witnesses’ steady growth in this region due to the vast healthcare industry driving the demand for medical devices and batteries in the Americas.

Key questions answered in the report include

• What will the market size and the growth rate be in 2022?
• What are the key factors driving the global battery market for medical devices industry?
• What are the key market trends impacting the growth of the global battery market for medical devices industry?
• What are the challenges to market growth?
• Who are the key vendors in the global battery market for medical devices industry?
• What are the market opportunities and threats faced by the vendors in the global battery market for medical devices industry?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global battery market for medical devices industry?

Technavio also offers customization on reports based on specific client requirement.