The "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, and Others), By Region, Competition Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Global Betavoltaic Cell Market stood at USD349.14 million in 2020 and is forecast to grow at a CAGR of 2.18% until 2026.
Growth in the Betavoltaic Cell Market is driven by the increased need for a long service life, small-sized, miniature power unit that can work as a power source in applications where there is requirement of continuous, unattended power for 10-20 years.
Furthermore, researchers and scientists are increasingly examining the chance of using radioactive decay products as one of the primary sources for niche applications, which is likely to create an opportunity for the Global Betavoltaic Cell Market in the near future.
Betavoltaic cells find major applications in the space industry and medical Implants. The growth in the healthcare sector and expansion in the space industry is anticipated to act as a catalyst for the growth of the Global Betavoltaic Cell Market.
Based on Isotopes Type, the market can be segmented into Tritium, Strontium, Krypton, Nickel and Others. The Tritium segment dominated the market in 2020 and is expected to maintain its market dominance during the forecast period. Tritium has a low specific power and hence a long performance lifetime of up to 20 years and is inherently safe, making it a suitable choice for betavoltaic cells. Tritium only emits low-energy electrons which can be stopped by a sheet of paper or a layer of dead skin.
Based on Shape, the market can be bifurcated into Regular and Cylindrical. The regular segment dominated the market in 2020 as the betavoltaic battery can be easily miniaturized & integrated into a regular shape. Based on the End-User industry, the market can be segmented into Aerospace, Electronics & Communication, Healthcare, Defense and Others.
The Healthcare segment is expected to grow at the highest rate in the forecast period owing to the increasing adoption of betavoltaic cells to manufacture cardiac pacemakers. The Betavoltaic cells find major applications in medical implants where a biological function such as heartbeat is maintained or improved.
Betavoltaic Cells can act as a power source to implantable medical devices such as cardiac pacemakers, implantable cardiac defibrillators (ICDs), etc. for more than 10 years without any need for another surgical intervention.
North America held the largest share in the Global Betavoltaic Cell Market in 2020 and is expected to maintain the market dominance during the forecast period owing to the increasing investment in the research & development of advanced technologies in the space industry.
The increasing adoption of betavoltaic cells to manufacture cardiac pacemakers is one of the major factors driving the growth of the betavoltaic cells market in North America and have made it the fastest growing region in the market. Investments in the space industry and coming up of new startup companies in the region are also expected to drive the Betavoltaic cells market in North America.
Some of the major players in the Global Betavoltaic Cell Market include Widetronix, Inc., Qynergy Corporation, City Labs, Inc., BetaBatt, Inc., NDB Inc.
Years considered for this report:
- Historical Years: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Betavoltaic Cell Market
4. Executive Summary
5. Voice of Customer
5.1. Brand Awareness
5.2. Brand Satisfaction
5.3. Factors Considered While Selecting a Supplier
6. Global Betavoltaic Cell Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Isotopes Type (Tritium, Strontium, Krypton, Nickel and Others)
6.2.2. By Shape (Regular and Cylindrical)
6.2.3. By End User Industry (Aerospace, Electronics & Communication, Healthcare, Defense and Others)
6.2.4. By Region (North America, Europe, Asia-Pacific, Middle East & Africa, South America)
6.2.5. By Company (2020)
6.3. Product Market Map
7. North America Betavoltaic Cell Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Isotopes Type
7.2.2. By Shape
7.2.3. By End User Industry
7.2.4. By Country
7.3. North America: Country Analysis
8. Europe Betavoltaic Cell Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Isotopes Type
8.2.2. By Shape
8.2.3. By End User Industry
8.2.4. By Country
9. Asia Pacific Betavoltaic Cell Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Isotopes Type
9.2.2. By Shape
9.2.3. By End User Industry
9.2.4. By Country
10. Middle East and Africa Betavoltaic Cell Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Isotopes Type
10.2.2. By Shape
10.2.3. By End User Industry
10.2.4. By Country
11. South America Betavoltaic Cell Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Isotopes Type
11.2.2. By Shape
11.2.3. By End User Industry
11.2.4. By Country
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. Competition Outlook
14.2. Company Profiles
14.2.1. Widetronix, Inc.
14.2.2. Qynergy Corporation
14.2.3. City Labs, Inc.
14.2.4. BetaBatt, Inc
14.2.5. NDB Inc.
15. Patent Analysis
16. Strategic Recommendations
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View source version on businesswire.com: https://www.businesswire.com/news/home/20210615005626/en/
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