Betavoltaic Cell Market to Grow at a CAGR of 2.18 % until 2026
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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Betavoltaic Cell Market"
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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 Cell 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 cell which is
expected to fuel the growth of the Global Betavoltaic Cell 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 Cell Market.”
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