Compact and small-sized cells and rising investments in the space industry are the factors driving the global betavoltaic cell market.
According to TechSci Research report, “Global Betavoltaic Cell Market – By Region, Competition, Forecast & Opportunities, 2028”. The rising need for extended service life, tiny, microscopic power units that may serve as a power source in applications where there is a necessity for continuous, unattended power for 10–20 years, and other factors are driving the growth of the betavoltaic cell market. The possibility of employing radioactive decay products as one of the principal sources for specialized applications is also being progressively investigated by researchers and scientists, which is anticipated to present a market opportunity for the global betavoltaic cell market in the upcoming years. Medical implants and the space industry both use betavoltaic cells extensively. It is projected that the expansion of the space industry and the healthcare sector would drive the growth of The Global Betavoltaic Cell Market.
Betavoltaic batteries, however, have developed into the perfect power source for microelectromechanical devices during the last few decades. Another factor driving the expansion of the betavoltaic device market is the increasing acceptance of these technologies outside of the military industry, particularly in the medical device and space industries. The manufacturers of these betavoltaic devices will expand their investments, which will boost the market demand. Thus, the rise in technological innovation has fueled the market’s expansion.
Based on isotope type, The Global Betavoltaic Device Market is sub-segmented into tritium, strontium, krypton, nickel, and others. Among all, the tritium category holds a lucrative market share and is expected to maintain its market significance during the forecast period. Tritium has a prolonged performance life of around 20 years due to its low specific power. Tritium is a safe and acceptable material for betavoltaic cells since it produces low-energy electrons that may be blocked by a piece of paper or a thin layer of skin. Since nickel is mostly found in Russia, its high gamma ray content and low flux because of impurities make it unsuitable for use in betavoltaic devices. Betavoltaic devices made of nickel are durable for more than a century and thus expected to rise throughout the projected period as a result of increased expenditure in research & development.
Based on the End User Industry, the segment is categorized as aerospace, electronics & communication, healthcare, defense, and others (oil & gas, marine). Among all, the healthcare sector captures a significant market share of betavoltaic devices due to the rise in cardiovascular disease instances and the production of cardiac pacemakers using betavoltaic cells. Betavoltaic cells are utilized extensively in medical implants that preserve biological processes like the heartbeat. Betavoltaic cells may also function as a power supply for implantable medical devices like cardiac pacemakers and implantable cardiac defibrillators for more than ten years without requiring any surgical intervention. The betavoltaic cell is used in the cardiovascular device to detect the rating of the human body. For instance, in the United States, cardiovascular illnesses were reported to be the cause of roughly 42% of fatalities in 2018.
In terms of regional analysis, The Global Betavoltaic Cell Market is segmented into North America, South America, the Middle East & Africa, Asia-Pacific, and Europe. North America region is dominating the betavoltaic cell market at a high CAGR in the upcoming year. This is because North America has a substantial market share and is predicted to have rapid expansion in betavoltaic devices due to the manufacturing companies’ increased market emphasis, expanding R&D expenditure, and supportive governmental policies. Direct Kinetic Solutions, Widetronix, City Labs Inc., BetaBatt, Inc., and Qynergy Corp., are a few of the key companies active in the sector.
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Key market players in the Global Betavoltaic Cell Market include:
- Widetronix Inc
- Qynergy Corporation
- City Labs Inc
- BetaBatt Inc
- Arkenlight
- Direct Kinetic Solutions
- NDB Inc
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“Major advancements in the betavoltaic device industry during the past three to four decades have mainly improved the product’s overall characteristics, performance, efficiency, and operational life. Market participants are placing more and more emphasis on the creation of high-energy-density power sources to ensure the efficient and streamlined functioning of electrical systems in a variety of settings. Although classic electrochemical batteries are still more in demand than other options in the electronics industry, their limited lifespan continues to be a significant problem. Therefore, these factors are fuelling the market growth of the Global Betavoltaic Cell in the upcoming years ‘’ 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, Others), By Shape (Rectangular and Cylindrical), By End User Industry (Aerospace, Electronics & Communication, Healthcare, Defense, Others), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of 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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