Rising investments in the development of medical implants and research & development in healthcare sector to drive the growth of the Global Betavoltaic Cell Market.
According to TechSci Research report, “Global Betavoltaic Cell Market By Isotopes Type (Tritium, Strontium, Krypton, Nickel and Others), By Shape (Regular and Cylindrical), By End User Industry (Healthcare, Aerospace, Defense, Electronics & Communication and Others), By Region, Competition Forecast & Opportunities, 2016-2026”, the Global Betavoltaic Cell Market is forecast to grow at a rate of 2.18% by value to reach USD394.57 million by 2026. Growth in the market can be attributed to the increasing investment by various governments across the globe in research & development activities to create better opportunities for the usage of betavoltaic cells. The betavoltaic battery is a type of micronuclear battery that harvests beta-emitting radioactive decay energy using semiconductors. These batteries are highly functional, can be miniaturized to the size of a human hair and can perform functions in difficult conditions such as in space, inside human body, polar regions, high mountains, etc. The Global Betavoltaic Market is expected to show growth in the forecast period owning to its niche applications in medical devices such as pacemakers, and defibrillators and in military equipment, spacecrafts, undersea exploration, etc.
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The Global Betavoltaic Cell Market is segmented based on isotopes type, shape, end-user industry and region. In terms of isotopes type, the market can be segregated into Tritium, Strontium, Krypton, Nickel and Others. Out of these, the Tritium segment registered a dominant market share in 2020 due to valuable features like long half-life, lower specific power and inherited safety.
Based on shape, the market is segmented into regular and cylindrical. The regular shape dominates the Global Betavoltaic Cell Market over the cylindrical shape owing to its compact size and ability of easy miniaturization and integration.
Based on the end-user industry, the market is divided into Aerospace, Electronics & Communication, Healthcare, Defense and Others. The Healthcare Industry led the market in 2020 and is expected to show further growth in the forecast period. Betavoltaic cells find major applications in medical implants such as cardiac pacemakers. Moreover, the governments are increasing their investments in the research and development of the healthcare industry, which has further increased after the COVID-19 pandemic. These factors are anticipated to contribute to the growth of the segment in the Global Betavoltaic Cells Market.
In the Global Betavoltaic Cell Market, North America is the largest contributor withholding the maximum market share in 2020. The US is the largest contributing country in the region for the forecast period due to a large number of space programs and space enthusiasts working in the field of space exploration. The US Betavoltaic Market also received huge investments from the government in the research & development of space programs. The US Betavoltaic Market is also growing due to the growth in the healthcare & medical devices sector and increasing demand for alternative power supply in military and civilian applications. The increasing adoption of betavoltaic cells to manufacture cardiac pacemakers is also a major factor in driving the growth of betavoltaic cells in North America.
Widetronix, Inc., Qynergy Corporation, City Labs, Inc., BetaBatt, Inc., NDB Inc., etc. are among the leading players operating in the Global Betavoltaic Cell Market. Companies operating in the market are using organic strategies, partnerships and collaborations to boost their shares in the Global Betavoltaic Cell Market. Significant players in the market are concentrating on accomplishing ideal operational setup, enhancing manufacturability & commercialization, boosting productivity with high funding in R&D, and patenting the technology to achieve progress in the competitive Global Betavoltaic Cell Market.
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“Increasing investment in space technologies is the major factor for the growth in the Global Betavoltaic Cell Market. The research in the field of healthcare to power the medical implants for maintaining the biological functions is another niche application of the betavoltaic cells which is expected to fuel the growth of the Global Betavoltaic Cells Market. Moreover, the research and development divisions of different organizations are working to lay the foundation for the development of the betavoltaic cells as a long-life, self-charging micro power unit which will open further opportunities for the Global Betavoltaic Cell Market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Betavoltaic Cell Market By Isotopes Type (Tritium, Strontium, Krypton, Nickel and Others), By Shape (Regular and Cylindrical), By End User Industry (Healthcare, Aerospace, Defense, Electronics & Communication and Others), By Region, Competition Forecast & Opportunities, 2016-2026” has evaluated the future growth potential of portable betavoltaic cells in the Global Betavoltaic Cell Market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the Global Betavoltaic Cells Market.”
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