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Consistent Innovation Secures Future of Global Medical Battery Market Finds Frost & Sullivan - Persistent advances in medical devices increase the demand for efficient, high energy density batteries - PowerSupplies.Frost.com
Consistent Innovation Secures Future of Global Medical Battery Market Finds Frost & Sullivan

 

PRZOOM - /newswire/ - London, United Kingdom, 2014/09/29 - Persistent advances in medical devices increase the demand for efficient, high energy density batteries - PowerSupplies.Frost.com.

   
 
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The global medical batteries market is expected to experience sustained growth owing to technological advancements and booming regional demand. Strong potential offered by emerging economies, especially in the Asia-Pacific, will offset the sluggish growth rates in mature markets such as North America and Europe. Market growth will be bolstered by the increasing acceptance of wireless medical devices and continuing innovation, especially in high energy density batteries for wearable medical devices.

New analysis from Frost & Sullivan, Global Medical Battery Market, finds that the market earned revenues of $1.84 billion in 2013 and estimates this to reach $2.74 billion in 2020.

Asia-Pacific’s large population, low penetration, and increasing prevalence of chronic illness are driving demand for off-the-shelf medical devices. As a result, conventional medical batteries used in back-up, hearing aids, pacemakers, and implantable cardio defibrillators will see strong adoption in the Asia-Pacific. A similar trend in expected in the Middle East.

“The availability of advanced medical devices including cordless surgical devices, prosthetic devices, lifesaving implantable devices and neurostimulators spurs the uptake of batteries,” says Frost & Sullivan Energy and Environmental Research Manager Suba Arunkumar. “The advent of cutting-edge technologies such as robot-assisted surgeries and remote patient monitoring is also fuelling developments in medical device batteries.”

Since the American and European markets are saturated in terms of advanced device adoption, and present high entry barriers, only select battery manufacturers can compete for market share. This has led to highly priced components and lower sales volumes.

“US- and Europe-based manufacturers must shift their base to the Asia-Pacific in order to capitalise on the immense opportunities the region offers,” suggests Arunkumar. “Meanwhile, certain specialised, certified manufacturers are turning to consolidation, acquiring major battery or material manufacturers, in a bid to expand their footprint in the global medical battery space.”

If you are interested in more information on this study, please send an email to Chiara Carella, Corporate Communications, at chiara.carella[.]frost.com.

Global Medical Battery Market is part of the Power Supplies & Batteries (powersupplies.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Global Lithium-ion Battery Market, Global UPS Services Market, and North American Generator Set Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us: Start the discussion | Join Us: Join our community | Subscribe: Newsletter on “the next big thing" | Register: Gain access to visionary innovation

Global Medical Battery Market / MA32-27

 
 
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Consistent Innovation Secures Future of Global Medical Battery Market Finds Frost & Sullivan

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Frost & Sullivan | Medical Battery Market
Contact: Chiara Carella - Frost.com 
+44(0)20 7343 8314 / +44(0)75 3301 7689 (mobile) chiara.carella[.]frost.com
 
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