I don't use the product, however I would have to surmize that since it gets its power from the iPhone, that it would have to impact battery life in some way. As long as the transmitter is on, it would be using battery, but not knowing the specifications for the device, it is hard to say how much battery it uses. Once way to test that would be to use the phone from a full charge one day without the unit and check your battery usage. Then try another day from a full charge with the unit and check. That would give you some comparison to work with.
Hope this helps you.