Power Sources Used to Boost the Growth of Advanced Power Solutions for Implantable and Wearable Medical Devices Market
Advanced power solutions for implantable and wearable medical devices are needed for better safety, reliability, and longer battery life, which ends the need to replace the batteries frequently. It is especially difficult to change batteries in implantable medical devices. Currently, most of the devices are powered with power solutions that have a limited lifetime.
However, the emergence of sedentary lifestyles, changing dietary habits, irregular sleep patterns, and professional requirements that involve prolonged working hours, poor body postures, and high levels of anxiety and stress are the leading causes of various disorders such as cardiovascular, neurological and hearing disorders.
Further, the high prevalence of road accidents leading to an increased prevalence of spinal cord injuries results in a higher socioeconomic burden of cardiovascular and neurological disorders.
It is especially difficult to change batteries in implantable medical devices. Advanced power solutions for implantable and wearable medical devices are needed for better safety, reliability, and battery life, which ends the need to replace the batteries frequently. Currently, most of the devices are powered with advanced power solutions, including lithium, nickel, and zinc/air batteries, and environmental harvesting.
Based on the market intelligence by BIS Research, global advanced power solutions for implantable and wearable medical devices market is expected to showcase a growth of 6.26% in the forecast period (2019–2029).
Some of the regulatory bodies/consortiums/associations playing a significant role in harnessing the global advanced power solutions for implantable and wearable medical devices market in different regions include American Heart Association (AHA), American Speech-Language-Hearing Association (ASHA), American Association of Neurological Surgeons, American Psychiatric Association, Central Drugs Standard Control Organization (CDSCO), and Center for Devices and Radiological Health (CDRH), among others.
Further, the regulatory requirements related to these devices are primarily concerned with providing the patients with high-quality, safe, and effective product, and avoiding access to the products which are unsafe. When implemented appropriately, regulations ensure public health benefits along with the safety of the patients, healthcare workers, and community.
Lastly, for the purpose of gaining holistic view, the market has been segmented on the basis of power source, applications, battery type, and region. Based on the regional analysis of the market, the region of North America was leading the market with a revenue of $444.7 million and is projected to maintain its dominance during the forecast period as well.