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Bio-MEMS Market Overview
The Global Bio-MEMS Market size is
forecast to reach US$6.85 billion by 2027, growing at a CAGR of 9.8% from 2022
to 2027. This growth can be attributed to factors such as growing technological
advancement in biomedical research, medical microdevices and advancements in
biomedicines. The growing incorporation of biological materials in making
microfluidic devices through microfabrication also augments the Bio-MEMS
Industry's growth. Additionally, due to technological advancements in Bio-MEMS
Market, diagnostic devices are getting more miniature and compact and have a
wide range of therapeutic applications such as drug delivery actuators, disease
monitoring, polymerase chain reaction and others. Different biological
materials such as nanomaterials, silicon and optically transparent materials are
used through the microfabrication process to produce Bio-MEMS equipment such as
MEMS Sensors, Microfluidic Devices and others. Also, wearable biochemical
sensors have also gained popularity due to their potential applications in
personalized medicine and continuous monitoring of human health. As a result,
market participants have been observed investing in the development of such Bio-MEMS
sensors in order to enable real-time and non-invasive measurement of chemical
constituents in the human body. These factors positively influence the Bio-MEMS
Industry Outlook.
Report Coverage
The report: “Bio-MEMS Industry Outlook – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the
Bio-MEMS industry.
By Type: MEMS Sensors, Microfluidic Sensors and Others.
By Material: Silicon and Glass, Plastics and Polymers, Biological
materials, Paper and Others.
By Product: Injectables, Implantable
(Gyroscope, Accelerometer, Flow Meter, Pressure Sensor) and Others.
By Applications: Diagnostic, Surgical, Therapeutic,
Detection, Drug Delivery, Tissue Engineering and Others.
By End-user Industry: Healthcare, Pharmaceutical, BioProcessing, Research Centres, Environmental Monitoring, Food and Agricultural
Industry, Others
By Geography: North America (the U.S., Canada,
Mexico), South America (Brazil, Argentina, Others), Europe (UK, Germany, France,
Italy, Spain, Others), APAC (China, Japan, South Korea, India, Australia, Others)
and RoW (Middle East, Africa)
Key Takeaways
- In the Bio-MEMS market report, the Microfluidic Sensors segment is analyzed to grow at a significant rate of 9.8% during the forecast period 2022-2027. This growth is due to technological advancements in biological materials such as nanomaterials and optically transparent materials to provide precision and accuracy in the healthcare industry.
- In Bio-MEMS Market report, the Pharmaceutical Industry is expected to grow at the highest rate with a CAGR of 10.2% during the forecast period owing to factors such as technological growth in Bio-MEMS sensors, growth of biomedicine and miniaturization of diagnostic devices.
- North America region had the largest share in the global Bio-MEMS Market size, owing to factors such strong healthcare and pharmaceutical industry and continuous investment in healthcare sector by major manufacturers.
Global Bio-MEMS Market Value Share, By Region, 2021 (%)
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Bio-MEMS
Market Segment Analysis - by Type
By Type, the Microfluidic Sensors segment in the Bio-MEMS
Market report is analyzed to grow with the highest CAGR of 9.8% during the
forecast period 2022-2027. This growth is primarily due to increased demand for point-of-care
testing and a greater emphasis on data precision and accuracy in the healthcare
industry. Furthermore, the growing demand for miniature portable devices
equipped with optically transparent materials and wearable devices will propel
the microfluidic sensor segment during the forecast period. Integration of
Bio-MEMS sensors with medical devices with an aim to optimize next-generation
sequencing, drug delivery systems, Point-of-Care diagnostics such as Polymerase
Chain Reaction and disease monitoring will boost the Microfluidic Sensors segment
in the Bio-MEMS Market. In December 2020, Dolomite Microfluidics and Millipore
Sigma entered into a partnership with an aim to create NanoFabTx microfluidic
devices for drug development and controlled drug release applications. Such
factors will boost the microfluidic sensor segment thereby boosting the Bio-MEMS
Market size.
Bio-MEMS
Market Segment Analysis - by End-user Industry
Based on End-User Industry, the Pharmaceutical Industry in Bio-MEMS
Market report is analyzed to grow at the highest CAGR of 10.2% during the
forecast period 2022-2027. Rising growth in Bio-MEMS sensors with
microfabrication and nanofabricated devices, as well as growth in biomedicine, is expected to increase the demand for Bio-MEMS devices. Additionally, the
growing use of Bio-MEMS devices in the pharmaceutical industry to improve
therapeutic efficacy is causing the Bio-MEMS market size to grow rapidly. In
November 2021, Debiopharm, a Swiss biopharmaceutical company, announced plans
to invest US$4 million in Mekonos, a biotech company working to build the
future of cell therapies on a chip. This investment was made to help Mekonos
expand its MEMS Sensors, Microfluidic Devices functions in order to improve the
development of novel drug delivery systems. Such factors will positively
influence the Bio-MEMS industry outlook.
Bio-MEMS Market Segment Analysis - by Geography
North America dominated the global market for Bio-MEMS Market with a market share of 36% in 2021 and also analyzed to have significant growth over the forecasting period. Healthcare and pharmaceutical industry is one of the strongest industries in the region and plays a major factor in the market growth. Rising disease awareness, well-established healthcare infrastructure and high investment in domestic medical device manufacturing are key factors fostering the Bio-MEMS market in this region. In May 2020, the U.S. federal government announced about an investment of US$ 11 billion in late-stage vaccine development and expansion of manufacturing capacity through Operation Warp Speed and the Biomedical Advanced Research and Development. Such initiatives are expected to provide significant growth opportunities for the Bio-Mems Market over the forecast period.
Bio-MEMS
Market Drivers
High prevalence of chronic diseases and rising technological advancements in bio microelectromechanical sensors boost the Bio-MEMS Market Growth
Because of the
rising need for healthcare services worldwide, the Bio-MEMS market is expected
to expand substantially over the forecast period. The increasing amount of
pollution and population expansion have resulted in a significant increase in
the number of people suffering from various ailments. The global Bio-MEMS
market is likely to grow due to the increasing utilization of Bio-MEMS sensors
to conduct many diagnostic applications such as molecular diagnostics, pathogen
detection, polymerase chain reaction and disease monitoring. For instance, in
May 2022, Abbott launched FreeStyle Libre 3, a bio-mem sensor-based glucose
monitoring technology used for patients suffering from diabetes. It was
operational in Europe since September 2020 but in May 2022 it received FDA
approval to operate in the U.S. market. These kinds of developments boost the
Bio-MEMS Market size.
Increasing nanotechnology integration with Bio-MEMS to support cellular interaction at the molecular level drives the Bio-MEMS industry forward
The increasing integration of nanotechnology with
Bio-MEMS to support cellular interaction at the molecular level is a major
driver of market growth. Because of their small size, nanotechnology-integrated
Bio-MEMS devices have advantageous capabilities such as low power consumption
and lower production costs, which contribute to the market's growth. For
instance, in August 2020, Innovasis Inc. received the U.S. FDA clearance to
launch 3D-printed implants used in spinal fusion surgery. These implants use
Promimic’s HAnano surface technology which is bioactive nanotechnology that
leads to molecular anchoring in these types of medical implants. Such growth in
nanotechnologies will drive the Bio-MEMS market forward in the forecast period.
Bio-MEMS
Market Challenge
High costs associated with extensive research & development and long product development cycle hinder the Bio-MEMS market growth
Because of its
robust infrastructure Bio-MEMS incurs high costs associated with its
extensive R&D, installation, integration, deployment and additional
maintenance services. Due to the high financial requirements, many medical
equipment manufacturing and pharmaceutical companies are limiting its adoption.
Additionally, the long product development cycle also hinders the Bio-MEMS
market growth. For instance, according to many reports the development of a
biosensor cost around US$20-30 million and takes up to 7 to 10 years. These
factors act as a major restraint in the Bio-MEMS market growth.
Bio-MEMS Market Landscape
Product launches, collaborations and R&D activities are key strategies adopted by players in the Bio-MEMS Market. Bio-MEMS market's top 10 companies include:
1. Boehringer Ingelheim
2. Philips Engineering Solution
3. Taylor Hobson
4. Teledyne DALSA
5. Micron Technology
6. OMRON
7. Baxter International
8. Abbott Laboratories
9. Amphenol Corporation
10. NaNotics LLC
Recent Developments
- In January 2022,
NaNotics LLC announced a research collaboration with Mayo Clinic to
develop a NaNot that targets the soluble form of PD-L1, a tumor-generated
immune inhibitor. This development is set to introduce the adoption of
nanotechnology and thereby boosting the Bio-MEMS Industry.
- July 2021, OMRON Healthcare announced the release of OMRON Complete, its first single-lead ECG and blood pressure monitor for home use. These home diagnostic developments were made possible due to the technological advancements in Bio-MEMS sensors.
- In April 2021, Abbott announced the distribution of its BinaxNOW COVID-19 Ag self-test to retailers across the U.S. The Bio-MEMS sensors used in this self-test can accurately determine the presence of viral antigen inside individuals.
Relevant Report Titles:
Report
Code: ESR 0338
Report
Code: HCR 0300
Report
Code: ESR 0220
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