Skip to main content

Surging Use of Wearable Devices Driving Micro Battery Market Expansion

Due to the mushrooming use of wearable devices, increasing adoption of the internet of things (IoT) in medical instruments, and surging utilization of compact batteries in the healthcare sector, the global micro battery market is expected to demonstrate a CAGR of 18.4% from 2019 to 2024. According to the estimates of the market research company, P&S Intelligence, the revenue of the market will surge from $418.2 million in 2018 to $1.1 billion by 2024. 

With the rising prevalence of chronic diseases, such as diabetes and cancer and the surging population of geriatric people, the incorporation of advanced technologies and solutions in the healthcare sector is rising sharply. For instance, as per the World Health Organization (WHO), 422 million people all over the world are diagnosed with diabetes every year. 


Furthermore, the organization found that the disease claims the lives of 1.6 million people across the world every year.  According to the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of geriatric people will rise from 727 million in 2020 to more than 1.5 billion by 2050.

As geriatric people need remote monitoring, owing to their weak immune systems and high vulnerability to various diseases, their mushrooming population is encouraging many healthcare facilities to integrate medical devices, such as insulin pumps and cardiac monitoring systems, with the IoT, as this enables remote patient monitoring. Besides the aforementioned factor, the growing use of smart meters is creating lucrative growth opportunities for the players operating in the micro battery market. 

A smart meter is basically an electronic device, which is used to record the power consumption level and communicate this information to the power supplier for billing and monitoring. Moreover, the governments of many countries are making huge investments for promoting the usage of smart devices in the healthcare sector.

Comments

Popular posts from this blog

Demand for Webgames Set to Shoot Up in Asia-Pacific in Coming Years

The global webgame market valuation will rise from $3.5 billion in 2019 to $6.5 billion by 2030. Furthermore, the market is predicted to demonstrate a CAGR of 5.7% between 2020 and 2030. Depending on genre, webgames are classified into sports games, real-time strategy games, massive multiplayer online roleplaying games (MMORPGs), arcade games, and first-person shooters. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/webgame-market-insights/report-sample Out of these, the popularity of first-person shooters will grow sharply across the world in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. These types of games are not like the third-person shooters, in which, the gamers can see the character which they are controlling. As these games are highly engrossing and thrilling, their popularity is soaring rapidly all over the world. Globally, the webgame industry is predicted to exhibit the...

Revenue Explosion Predicted in Global Micro Battery Market During 2020—2024

The global micro battery market had a valuation of $418.2 million in 2018 and is predicted to generate a revenue of $1,100.0 million by 2024. Furthermore, the market will exhibit a CAGR of 18.4% between 2019 and 2024. The increasing usage of wearable devices, the rising integration of the internet of things (IoT) in medical devices, and the soaring usage of compact batteries in healthcare applications are the major factors fueling the progress of the market. The rising incorporation of the IoT in medical devices is an important factor propelling the growth of the micro battery market across the globe. With the soaring population levels and the rising prevalence of chronic diseases in various countries, the healthcare industry is rapidly adopting high-tech solutions. The growing usage of advanced medical devices and wearable electronics is causing huge improvements in patient care and treatment procedures. Moreover, it is massively reducing the healthcare costs.  For example, medic...

3D Printing Ceramics Market Research by Products & Services, Components & Geography

The technology has created immense opportunities for product designing and helped in consolidating product assembly processes. Ceramics are mainly used for printing plates, cups, and other cutlery items. Ceramic prototypes are also used in high temperature application areas in the aerospace and automotive industries. Get a free sample copy of this report @  https://www.psmarketresearch.com/market-analysis/3d-printing-ceramics-market/report-sample Rapid growth in the 3D printing ceramics market is driven by rise in demand for 3D printing in the dental industry and product modification, and development in various end-use industries. 3D printing is gaining demand in the healthcare industry, especially for dental applications. Ceramics are being preferred for 3D printing of orthopedic and dental implants, and heart valves, due to their characteristics such as inertness, porosity, resistance to high wear, high compression strength, and capability to mold into a variety of shapes...