Expansive growth opportunities are being seen in the landscape of global medical batteries market. One of the most notable factor leading players to these remunerative avenues is increasing use of the products in a number of applications such and places such as home care settings, nursing homes, diagnostic centers, clinics and hospitals. Additionally, world over, incidence of chronic illnesses is growing and people in their old age are increasing in number.
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By 2050, 2 billion people will be in age group of 60s and over. It is a steep and remarkable increase from 2017 levels of membership which was around 950 million. These people will put pressure on the healthcare infrastructure, driving up growth in global medical batteries market. These come in different types. Some of these are zinc air batteries, lithium batteries, nickel metal hydride batteries, and so on.
It is of crucial reasons that one needs to mention the Internet of Medical Things (IoMT) here. Growth and adoption of this technology is a major growth propeller in the global medical batteries market. Over the forecast period in particular, the contributions of technological advancement will be remarkable. As covid-19 infects people, unabated, it is creating a massive increase in such supplies. This is set to propel the global medical batteries market forward.
Market players are also contributing to growth curve of global medical batteries market by putting in motion their own growth strategies. Some of these varied strategies, organic and inorganic, are forging alliances and improvement in products. Innovation and new launches are focal areas therefore. It is quite interesting to note here that the market for medical batteries is fragmented.
Some of the prominent players from the list of numerous international and regional ones are Arotech Corporation, Tadiran Batteries Ltd., Quallion LLC, Shenzhen Kayo Battery Co., Ltd., EaglePicher Technologies, LLC., Siemens, Vitec Group Plc., Liberating Technologies, Inc., Panasonic Corporation, and EnerSys.
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