MEDICAL BATTERIES MARKET ANALYSIS

 The high costs associated with batteries is one of the major factors restraining the growth of the global medical batteries market. Medical batteries power a wide range of devices used for diagnosis, monitoring and treatment of various medical conditions. However, batteries used in medical devices need to meet stringent safety standards in terms of quality, reliability and shelf-life. This necessitates the use of high-grade materials and advanced manufacturing processes in the production of medical batteries. The raw materials used such as lithium, cobalt and other chemicals are costly. Moreover, medical batteries are designed to last longer than consumer batteries in order to avoid frequent replacement and ensure uninterrupted device operation. This requires sophisticated cell chemistry and additional safety features. All these factors make medical batteries significantly more expensive than normal batteries. For example, according to the UN Industrial Development Organization, the manufacturing cost of a common lithium-ion battery used in medical devices is around 2-3 times the cost of same battery for consumer electronics.

Market Opportunities: Growing demand for wireless medical devices

The healthcare sector has seen tremendous growth in wireless medical technologies over the past few years. Devices such as wireless blood pressure monitors, glucose monitors, ECG monitors, and implantable cardiac devices have revolutionized patient care by enabling remote and continuous monitoring. This shift towards wireless connected care comes with an increased need for higher capacity, longer lasting and portable power sources. Medical devices now require sophisticated batteries that can withstand years of continuous use inside the human body or power devices for days on a single charge. As new, more advanced wireless medical gadgets hit the market, their miniaturized nature and constant power demands will further stimulate demand for specialized high-quality medical batteries.