BioMEMS Devices Global Market to Grow Robustly to Reach $14.4 billion by 2022, Owing to Pharma & Bio Research Applications
Thursday 28 Jan 2016
Industry Experts introduced the new market report on BioMEMS Devices. As per the new report titled ‘BioMEMS Devices – A Global Market Overview’, the Pharmaceutical & Biological Research applications of BioMEMS devices is expected to emerge the largest application segment by 2020 with US$3.7 billion surpassing the In Vitro Diagnostic applications segment which stands at US$3.5 billion in the same year. The leading application segment is further projected to grow by a 2016-2022 CAGR of 31% to touch US$6.3 billion by 2022.
BioMEMS devices deployed in hospitals and healthcare facilities are primarily focused on medical screening and diagnostic applications, such as devices that measure point-of-care parameters. Wearable devices that facilitate and assure continuous monitoring without hampering a user’s freedom of movement are being bolstered through new opportunities offered by innovative sensors for human biomedical signal acquisition coupled with wireless connectivity and low power solutions. In addition, greater attention is being accorded to diagnostic MEMS sensors that can assist in performing critical functions, such as cholesterol monitoring, pregnancy monitoring, food allergy detection and DNA analyses. Sensor technologies in several cases provide crucial outcomes and form a major element in the process of assisting in decision-making before obtaining formal clinical intervention and care.
Over the coming years, the functionality of BioMEMS devices/sensor technologies and derivative solutions will maintain an upward trend, which can be attributed to the declining cost of sensor technologies and progressions in infrastructural and information and communications technologies that would cause sensor data to be efficiently aggregated, processed, stored and visualized. Other factors propelling the rate of development in BioMEMS technologies include increasing demand for understanding and managing personal health and well-being and monitoring of environmental conditions. BioMEMS devices of the future are likely to have greater selectivity and sensitivity, in addition to greater stability and capability in identifying and classifying events that would enable in preventing false alarms.
BioMEMS devices applications analyzed in this report include Home Care Devices, In Vitro Diagnostics, Medical Devices and Pharmaceutical & Biological Research. The global markets for these applications analyzed in terms of USD. Home Care Devices expected to be the fastest growing application of BioMEMS devices with a robust CAGR of 37.4% between 2016 and 2022 and touches US$1 billion mark by 2022. In Vitro Diagnostics estimated the largest application of BioMEMS devices in US$1.7 billion in 2016 while Pharmaceutical & Biological Research follows closely with US$1.3 billion in the same year.
The report reviews, analyses and projects the BioMEMS devices applications market for global and the regional markets including North America, Europe, Asia-Pacific and Rest of World. The regional markets further analyzed for 13 independent countries across North America – The United States, Canada and Mexico; Europe – France, Germany, Italy, Spain, Switzerland and the United Kingdom; Asia-Pacific – China, India, Japan and South Korea; Rest of World – Middle East and South America.
This 178 page global BioMEMS market research report includes 100 charts (includes a data table and graphical representation for each chart), supported with meaningful and easy to understand graphical presentation, of market numbers. This report profiles 18 key global players and 21 major players across North America – 12; Europe – 6; and Asia-Pacific – 3. The research also provides the listing of the companies engaged in research and development, manufacturing and supply of BioMEMS devices. The global list of companies covers addresses, contact numbers and the website addresses of 161 companies.
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