USD 2.74 billion
Report ID: SQSG35A2091 | Region: Global | Published Date: December, 2022 | Pages: 244 | Tables: 96 | Figures: 68
Global Medical MEMS Market size was valued at USD 2.74 billion in 2021, and it is expected to reach a value of USD 3.51 billion by 2028, at a CAGR of 3.6% over the forecast period (2022-2028).
Micro-Electro-Mechanical Systems, or MEMS for short, is a technology that integrates physical, chemical, and biological elements including computing, light, and chemistry on a single chip. MEMS frequently includes tiny structures, sensors, and microelectronics. MEMS chips may be made in great numbers using modified semiconductor techniques. Since MEMS can simulate human senses and may one day be utilised to replace or enhance certain senses, they have implications for medicine. MEMS may also be utilised for less complex activities like executing a medical test, monitoring blood pressure within the body, and sequencing DNA. Due to a number of factors, such as their expanding applications in healthcare, innovations, a revolution, and growth in the personal healthcare market, including wireless implants, as well as rising awareness of and access to healthcare, there has been an increase in demand for MEMS devices in the medical sector.
The medical micro-electromechanical systems market is anticipated to grow significantly as the electronics sector changes. The MEMS technology of conventional sensors is the main topic. MEMS devices will undoubtedly become more popular as the Internet of Things continues to grow rapidly in applications like tracking systems and building automation. Additionally, the expansion of MEMS technology research and development has stimulated the creation of novel products by international medical technology firms.
Global Market Size
USD 2.74 billion
To get more reports on the above market click here to Buy The Report
Global Medical MEMS Market is segmented based on the Sensor type, Application, End User, and region. Based on Sensor Type, the market is segmented into Pressure Sensors, Microfluidic Device Sensors, Accelerometers, Gyroscopes, Optical Sensors, Microphones, and Others. On the basis of application, it is categorized into Monitoring and Diagnostic Devices, Surgical Devices, and Therapeutic Devices. According to end user, the market is divided into Hospitals and Clinics, Research Institutions, and Biotechnology Companies. Based on Region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Sensor Type
The pressure sensor segment held the highest Global Medical MEMS Market share in 2021. The pressure sensor segment is further sub segmented into anesthesia delivery machines, blood gas analyzers, blood pressure monitors, cardiac pumps, infusion pumps, insulin pumps, kidney dialysis machines, respiratory monitors and sleep apnea machines. The use of pressure sensors in non-invasive medical procedures like managing the air pressure in breathing equipment and checking blood pressure is not new. Recently, the miniaturisation offered by MEMS devices has allowed usage in more intrusive applications such as catheter tip sensors as well as for implanted devices monitoring qualities like blood pressure and heart rate.
The drug delivery micro dispensers segment is anticipated to grow at a high CAGR during the forecast period. The segment is further sub segmented into inhalers, micro pumps and micro needles. A drug reservoir, micropumps, valves, microsensors, microchannels, and essential supporting circuits make up an integrated drug delivery system (DDS). A typical micropump is a MEMS device, which offers the actuation source to precisely, accurately, and reliably transport the fluid (drug) from the drug reservoir to the body (tissue or blood artery). As a result, micropumps are a crucial part of the drug delivery systems.
Analysis by Application
The monitoring and diagnostic devices segment held the greatest revenue share in 2021. Today, a wide range of disorders, are being quickly and accurately detected, their course being tracked, and their therapy being administered using microfluidics (Lab-on-a-chip) and MEMS sensors. Even for micro- and nanoscale measurements IN invasive applications, continued downsizing and design advancements have produced more accurate sensors and actuators for healthcare applications. Important equipment for the diagnosis and treatment of a variety of illnesses uses or has the potential to employ MEMS sensors.
Over the course of the projected period, the therapeutics devices segment is anticipated to experience significant revenue growth. Clinical medical situations often need making important therapeutic decisions. Accuracy, speed, accessibility, cost-effectiveness, and mobility are requirements under these circumstances. To deal with these difficulties, new technologies have been created. Two of these technologies are microfluidics and micro electro-mechanical systems. These technologies are being turned into portable gadgets that may be utilised at the bedside or in remote locations. With successful marketed products now being incorporated into vitro, ex vivo, and in vivo systems, MEMS-based sensors constitute a highly developed sector.
To get detailed analysis on other segments, Request For Sample Report
North America held the highest Global Medical MEMS Market share. As many tech businesses in the region spend and engage themselves in commercialising the items in the market, the North American region is one of the early adopters of the developing technology. Due to the rising prevalence of chronic illnesses in the US, there has recently been persistent worry about the health of the people. Companies in the region are heavily investing in self-monitoring tools like blood glucose metres and point-of-contact testing programmes because they save healthcare costs and save time. Growth of the medical MEMS market in the region is anticipated to increase as a result of such investments and the commercialization of these products. Additionally, businesses in the region are pursuing development prospects for medical MEMS applications by increasing their production facilities, which might increase North America market growth.
Asia Pacific is expected to register the highest growth rate during the forecast period. This can be attributed to the fact that there are many companies that manufacture semiconductors. The existence of the consumer electronics and automotive component industries in nations like China, Taiwan, and South Korea is another factor influencing the Medical Microelectromechanical Systems (MEMS) Market in the Asia Pacific region. Additionally, cost-cutting is possible due to low labour costs and inexpensive raw materials, which contributes to the Asia Pacific market expansion.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
Global Medical MEMS Market is slightly fragmented with few major global players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships. Key players in the market include Honeywell Sensing and Control, Abbott Laboratories, Flexpoint Sensor Systems, Analog Device Inc. and GE measurement and control solutions. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Player's Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Medical MEMS Market analysis, medical MEMS systems' primary application fields are diagnostic and therapeutic devices, which is anticipated to drive the market's expansion during the next years. Additionally, major market participants are concentrating on obtaining funding for the creation of new products and broadening their product line. Also, the primary factor anticipated to promote growth of the global medical MEMS market is the rising popularity of wearable technology like smart watches.
|Market size value in 2021||USD 2.74 billion|
|Market size value in 2028||USD 3.51 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Medical MEMS Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Medical MEMS Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Medical MEMS Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Medical MEMS Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.SPEAK TO AN ANALYST
Get lifetime access to our reportsBasic Plan $5,000 Team Plan $10,000 SUBSCRIBE NOW
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "
- Mr. Ali Zali, Commercial Director, ICIIC Iran.
Product ID: SQSG35A2091