Worldwide Bio MEMS Market is Estimated to Surge at a CAGR of 20.9% by 2024; High Prevalence of Heart Diseases Gives Impetus to Cardio-MEMS| TMR

Friday, January 27, 2017 Heart Disease News
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ALBANY, New York, January 27, 2017 /PRNewswire/ --

Transparency Market Research has observed the competitive landscape

in the global bio-MEMS market to be quite consolidated. The top five players held a whopping share of about 45% in the global market in 2015. Abbott Laboratories, Becton Dickinson, Baxter International Inc.,
Medtronic, and Boston Scientific have been dominating the global market with their persistent efforts to develop innovative products and continuous research and development to enhance their existing product portfolio. These companies are also expected to strategize important mergers and acquisitions to win larger shares in the global market to remain dominant.

According to the research report, the global bio-MEMS market was valued at US$695.0 mn in 2015. However, between the forecast years of 2016 and 2024, the global market is estimated to surge at a CAGR of 20.9% to reach a valuation of US$3.8 bn by the end of 2024.

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North America to Lead; Slated to Acquire 37.4% of Global Market by 2024 

On the basis of application, the global bio-MEMS market is segmented into neural implants, ENT implants, bionics, cardio-MEMS, and others. The cardio-MEMS segment is segment is estimated to show significant growth in the coming years as it is slated to acquire a share of 25.8% by the end of 2024. The high prevalence of heart-related issues is expected to keep the demand for cardio-MEMS to be high in the coming years.

In terms of geography, the global bio-MEMS market is fragmented into North America, Europe, Asia Pacific, and Rest of the World. In terms of revenue, North America is anticipated to lead the global market. This regional market is expected to garner a share of 37.4% by the end of 2024. The growing government grants to improve the healthcare infrastructure are considered to the key element to this growth.

Uptake of Microfluidics for Diagnostics Improves Adoption of Bio-MEMS 

The global bio-MEMS market has been progressing against the backdrop of widening applications of tissue engineering in advanced surgical procedures. Bio-MEMS sensors, which include topical sensors are used to treat terminally ill patients. Collectively, these two factors are the key driving forces of the global bio-MEMS market. The uptake of microfluidics has also played a significant role directing the trajectory of the global market in a positive direction. Today, bio-MEMS are extensively being used for diagnostic purposes with the help of microfluidics. Furthermore, the market is also being driven by the advantage of bio-MEM such as quick detection of pathogens and bacteria. The high utility of bio-MEMS in the biomedical sector has proven to be essential and crucial to the growth of the global market, notes the lead author of this research report.

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Complex Manufacturing Processes Threaten Progress 

The complex process of manufacturing MEMS and their sophisticated fabrication techniques have been the precise restraints for the global bio-MEMS market. Excessive dependency on technologically-advanced medical infrastructure has made adoption of bio-MEMS relatively difficulty. Analysts predict that these factors could hamper the growth of the overall market in the near future. In addition, the market will also be restrained from attaining its utmost potential due to the expensive nature of the technology. Implementation of MEMS is exceptionally expensive and unaffordable to many. This is a key restraint in the global bio-MEMS market.

This review is based on Transparency Market Research's report, titled "Bio-MEMS Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."

The market has been segmented as follows: 

Global Bio-MEMS Market - By Type: 

  • Gyroscopes
  • Accelerometers
  • Others

Global Bio-MEMS Market - By Application: 

  • Neural Implants
  • Bionics
  • ENT Implants
  • Cardio-MEMS
  • Others

Global Bio-MEMS Market - By Region: 

  • North America
  • The U.S.
  • Canada
  • Others
  • Europe
  • The UK
  • Germany
  • Russia
  • Others
  • Asia Pacific
  • China
  • Japan
  • South Korea
  • Others
  • Rest of the World
  • Middle East
  • Africa
  • South America 

Related Research Reports by TMR: 

  • Bionics Market:
  • IoT Sensors Market:

About Us 

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR's syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact Transparency Market Research 90 State Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email:

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SOURCE Transparency Market Research


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