battery issue of MacBook Pro

My battery declined rapidly in the last week. I was still able to use the battery for several hours until it started shutting down during Zoom calls. I have to plug it in to open the MacBook but the battery can still be used. By evening, I have to plug it in to open it. Yesterday, I used coconut battery and found that the battery health is at 13.7%. Today, it's at 1%. I know that the MacBook Pro is quite old and has cycle of almost 700, but I find the rapid decline quite odd. Is the only solution a battery replacement?