Betavoltaic Cell Market Expected to Grow at Strong CAGR through 2028
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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market data Figures spread through xx Pages and an in-depth TOC on the "Global
Betavoltaic Cell Market".
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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