Global Bio-MEMS Market is estimated to reach $3,702 million by 2024; growing at a CAGR of 20.9% from 2016 to 2024. Bio-MEMS or bio-medical micro electro mechanical systems improve the performance of medical devices, used for patient monitoring. It advances the treatment for cardiac diseases and also improves the drug delivery system. A bio-MEMS device has gained popularity in the market owing to its requirement in various applications. A range of healthcare sectors such as pharmaceutical, medical devices, medical home care and in-vitro diagnostics pose a huge demand for Bio-MEMS.
Rise in demand for artificial limbs, and development of patient monitoring equipment system are the major factors driving the global Bio-MEMS market. Moreover, high efficacy, low cost, and rising ageing population has also fuelled the market growth. However, stringent regulatory guidelines are expected to restrain the market growth. Emergence of personalized medicines would provide several growth opportunities for the market in near future.
The global Bio-MEMS market is bifurcated by components, and application. By components, the global Bio-MEMS market is further segmented into gyroscopes, accelerometers, and others. By application, the market is segmented as neural implants, bionics, ENT implants, cardiological implants, and others. By components, the others segment accounted for the largest market share in 2016, and is expected to continue its dominance during the forecast period 2016-2022. Accelerometers are anticipated to grow at the fastest CAGR during the forecast period. Neural implants are to attain the fastest CAGR in the overall application segment. Geographically, the market is categorised into North America, Europe, Asia-Pacific and Rest of the world (RoW).
Based on geography, the global Bio-MEMS market has been segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Mexico and Canada are covered under North America wherein Europe covers Germany, UK, Russia, and others. Asia-Pacific covers China, Japan, South Korea, and others. RoW covers South America, Middle East and Africa.
Major companies operating in this market are Becton Dickinson, Abbott Laboratories, Boston Scientific, Perkin Elmer, Medtronic, Baxter International Inc., Teledyne Dalsa Inc., Cepheid, Bluechiip, Lepu Medical Technology among others.
The key takeaways from the report
* The report will provide detailed analysis of Bio-MEMS Market with respect to major segments such as component, and application
* The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
* Comprehensive analysis of market dynamics including factors and opportunities is included in the report
* An exhaustive regional analysis of Bio-MEMS Market will be provided in the report
* Profile of the key players in the Bio-MEMS Market will be provided, which include key financials, product & services, new developments and business strategies
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