Medical Micro-electro Mechanical Systems (MEMS) Market to Favor Significant Growth in Technology Explore By Eminent Players Honeywell Sensing and Control, Abbott Laboratories, Flexpoint Sensor Systems, Analog Device Inc.

The medical micro electro mechanical systems (MEMS) market improves the performance of medical devices, primarily used in patient monitoring. It helps improve the treatment of cardiac diseases and the efficiency of drug delivery systems. The medical MEMS market has gained traction due to application of the systems in in-vitro diagnostics, medical devices, pharmaceutical and other allied sectors. The onset of nanotechnology and MEMS have led to the development of numerous applications such as biochips, polymerase chain reaction, electroporation, ELISA, electrophoresis, micro-machined scanning tunneling microscopes and micro systems for drug screening and selection.

The growing shift of patients to portable devices for home care coupled with rising expenditure on MEMS technology and large pool of old age population worldwide are the growth factors for the market. New product launches and increasing approval from FDA has led to rampant growth of the market.

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Market Dynamics

Medical MEMS market have underwent drastic improvement due to technical advancements over the last few years. The Bigfoot medical’s Asante Insulin pump and Dexcom CGM systems use MEMS technology. The available medical MEMS technology have been in the market for short time, and the potential of these systems is not yet completely understood, which defines a major market for the manufacturers. The manufacturers need to focus on research and development of MEMS technology to improve patient monitoring, which could favor the growth of the market. Increase in awareness of non-invasive technologies among the patients and shift towards portable devices are also expected to favor the market in the near future.

The global medical MEMS market was valued at US$ 3,054 million in 2016 and is expected to witness a robust CAGR of 18.2% over the forecast period (2017-2025).

Global Key Players

Major players in the global MEMS market include Honeywell Sensing and Control, Abbott Laboratories, Flexpoint Sensor Systems, Analog Device Inc., GE measurement and control solutions, Omron Corporation, Integrated Sensing Systems, MemsTech Bhd., and Agilent Technologies.

Asia Pacific to fuel the medical MEMS market during the forecast period

North America accounts for the largest share in the global medical MEMS market, followed by Europe. This is mainly attributed to the presence of skilled surgeons in North America and wide availability of MEMS technology-based products in the region. The medical MEMS market in Asia-Pacific is expected to exhibit a high growth rate over the forecast period, supported by the growing number of patient in the region. This results in increased expenditure on healthcare, in turn supporting growth of the medical MEMS market in this region. Japan is the most developed medical MEMS market for medical MEMS in Asia Pacific.

Wide-scale application of MEMS technology in the healthcare sector is expected to favor market growth

Diagnostic and therapeutic devices are the major application areas of medical MEMS technology, which are expected to favor significant growth of the market in the foreseeable future. The Bigfoot medical’s Asante Insulin Pump and Dexcom CGM Systems use MEMS technology. Rapid adoption of medical MEMS technology in hospitals and growing preference for minimally invasive therapeutic approach are expected to fuel growth of the market. For instance, in July, 2017, Abbott Laboratories and Bigfoot Biomedical entered into an agreement to develop and market glucose sensing technology in the U.S.

Detailed Segmentation:

Global Medical MEMS Market, By Sensor type:
- Pressure Sensors
- Accelerometers
- Gyroscopes
- Microfluidic device sensors
- Microphones
- Optical Sensors
- Others (Flow Sensors, IR Sensors, etc.)

Global Medical MEMS Market, By application:
- Diagnostic devices
- Monitoring devices
- Surgical devices
- Therapeutic devices

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