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Global Bio-MEMS Market is Estimated to Reach $3.7 Billion by 2024, Says Accurize Market Research

08-28-2019 02:22 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Accurize Market Research

Global bio-MEMS market

Global bio-MEMS market

Global Bio-MEMS market report published by Accurize Market Research forecast that the global market is expected to reach $3.7 billion by 2024; growing at a CAGR of 20.8% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.

The rise in demand for artificial limbs, and development of patient monitoring equipment system across the globe to drive the growth of the market

The rise in demand for artificial limbs and the development of patient monitoring equipment system fuels the demand for the global bio-MEMS market. Moreover, high efficacy, low cost, and rising aging population also boost the growth of the market.

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Market Segmentation

The global bio-MEMS market has been bifurcated on the basis of 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 geography, the market is 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, the Middle East, and Africa.

“Others segment accounted for the largest market share in the components segment", says Accurize

By components segment, the other segment accounted for the largest market share in 2016 and is expected to continue its dominance during the forecast period 2017-2025. 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.

“North America dominated the global market with the highest market share over the forecast period", says Accurize

In 2017, North America accounted for the largest market share of 34.4%, owing to the soaring healthcare sector. The high adoption of advanced treatment techniques has also propelled the growth of Bio-MEMS market in the region. Europe accounted for the second-largest market share of 29%. In terms of growth, North America is to attain the fastest CAGR of 21.7% during the forecast period 2017-2025, owing to increased government’s awareness regarding the improvement of healthcare facilities in the region.

Top players in the market

The key market players include Perkin Elmer, Medtronic, Baxter International Inc., Teledyne Dalsa Inc., Lepu Medical Technology Becton Dickinson, Abbott Laboratories, Boston Scientific,Cepheid, and Bluechiip, among others.

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Accurize Market Research
Address: Office No.306, Zen Business center
Wakad, Pune-411057
Tel: +1-339-368-6383
Email:help@accurizemarketresearch.com

Accurize Market Research, a research and consulting company providing syndicated as well as customized reports with precise analysisand future outlook. We work across several industries globally helping our customer plan their next strategic move. We at Accurize Market Researchbelieve in customer satisfaction and suggest them take strategic decisions regarding the present and future endeavors.

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