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 the higher socio-economic burden of cardiovascular and neurological disorders.
Limited efficacy of drugs
Pharmaceutical drugs can be highly effective in treating diseases. However, they often do not work for the entire breadth of the human population. The effect of drugs varies from patient to patient and can result in lesser efficacy and increased side effects. Moreover, pharmaceutical efficacy depends on a patient’s adherence to therapy. Additionally, adverse drug reaction is stimulating the exigence of bioelectric medicine. To deal with the challenges brought out by pharmaceuticals, electroceuticals are gaining popularity, which acts locally and instantly, unlike pharmaceuticals, which must be absorbed into the bloodstream to initiate its activity.
Massive demand for advanced solutions in pacemakers
Pacemakers are currently the leading contributors to the advanced power solutions for implantable and wearable medical devices market, the contribution of the product segment was high valued the global market revenue in 2018. The massive burden of cardiovascular diseases and increasing awareness regarding the treatment of cardiac diseases are the leading factors promoting the growth of the market for the pacemakers. However, the demand for the cochlear implant is anticipated to witness the highest growth rate in the forecast period, owing to the growing prevalence of age-related hearing loss.
Lithium Batteries to be the leading power sources for powering implantable and wearable medical devices
The use of lithium batteries to power implantable and wearable medical devices is the leading contributor to the global advanced power solutions for implantable and wearable medical devices market revenue.
