The market for BioMEMS is forecast to reach $26 billion by 2025, growing at a CAGR of 24.8% from 2020 to 2025. Growth in this market is attributed to the technological advancements in the field of MEMS devices. The several advantages offered by the BioMEMS including improvements in medical device performance for the patient facilitates competitive advantages to system manufacturers. Moreover, rising mobile care applications is also anticipated to contribute significantly towards elevating the growth of the global BioMEMS market during the forecast period 2020-2025.
The report: “BioMEMS Market– Forecast (2020-2025)”, by IndustryARC covers an in-depth analysis of the following segments of the BioMEMS Market.
By Type – MEMS Sensors, Microfuids, Others
By Application Type – Therapeutic, Tissue Engineering, Diagnostic, Others ( surgery and medical implants)
By Material – Silicon and Glass, Plastics and Polymers, Papr, Biological Material
By Product – Injectables, Implantables (stents, gyroscopes, accelerometers, biochips, biosensors and drug delivery devices), Others ( Micro motors, catheters, inhalers)
By End User – Home diagnostics, hosptials, pharmaceutical, research centers, agricultural industry, food, others
By Geography - North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle east and Africa)
- The BioMEMS Market in North America is highly dominated due to the penetration of large number of healthcare manufacturers in the region.
- In the wake of technological advancements, automation is penetrating into pharmaceutical vertical, hence creating more opportunities for BioMEMS in this arena.
- One of the major obstacles for the growth of the BioMEMS market worldwide is the slow rate of adoption owing to high research and development cost coupled with long product development cycles.
- BioMEMS are emerging as the platform for delivery of future nanotechnologies, such as stem cell research and microsphere – encapsulated drug delivery systems, hence creating more opportunities for the market growth.
Type - Segment Analysis
The BioMEMS Market is segmented by type into MEMS sensors, micro fluids among others. Sensor held the largest share accounting to around 41% in 2019. Many of the available platform diagnostic and detection technologies require well-trained personnel to operate bulky instruments, and it often takes days to complete a single test. Over the years, there are increasing needs for the development of portable, integrated biosensors that untrained personnel can operate outside of the laboratory. Once developed, these devices will have a significant impact on the personal care, safety, food, and environmental monitoring applications. This is thereby set to elevate the market growth during the forecast period 2020 – 2025.
End User - Segment Analysis
Of all the major BioMEMS end use verticals, the pharmaceutical vertical is expected witness significant growth rate of around 26.3% during the forecast period 2020 – 2025. In the wake of technological advancements, automation is penetrating into pharmaceutical vertical, hence creating more opportunities for BioMEMS in this arena. Microfabricated platforms incorporated with BioMEMS and nanofabricated devices are used to dramatically improve the efficacy of therapeutics by increasing their bioavailability, biodistribution, and by providing technologies of targeted drug delivery, timed drug release, and triggered drug release. For detection of various types of diseases, different biomedical specimen has to be used. Using well designed microfluidic processors together with other MEMS components, it is possible to isolate and analyze a particular type of biomolecule from the specimen. This requires a number of stages such as sample preparation stages and measurement stages. All these factors are boosting the demand for BioMEMS in pharmaceutical sector during the forecast period 2020 – 2025.
Geography - Segment Analysis
The BioMEMS market is segmented by region into North America, Latin America, Europe, Asia Pacific, the Middle East and Africa. North America is anticipated to emerge as one of the higher growth regions in forecast period due to the large number of healthcare manufacturers in the region. The market in this region is driven by the well – developed healthcare infrastructure and faster adoption of new medical technologies. Moreover, Asia – Pacific is witnessing significant growth due to increasing per capita income, increasing aging population, increasing disease awareness and improving health infrastructure.
Drivers – BioMEMS Market
- Technological advancements in medical arena
In the wake of technological advancements, miniaturization of analytic devices equipped with BioMEMS facilitate lower manufacturing costs, reproducibility, small sample size and reagent size and reagent use, improved signal – to noise ratio and response time. Moreover, BioMEMS are being predominantly deployed in lab – on – chip devices, micro – total – analysis systems, DNA and protein microarrays and a host of diagnostic, interventional and therapeutic devices. BioMEMS are emerging as the platform for delivery of future nanotechnologies, such as stem cell research and microsphere – encapsulated drug delivery systems, hence creating more opportunities for the market growth.
Challenges – BioMEMS Market
- Lack of Adoption due to high associated costs
One of the major hindrances of the BioMEMS market is the lack of adoption owing to high research and development cost coupled with long product development cycles. Stringent regulatory guidelines are also acting as a challenge to the global BioMEMS market demand. Besides, highly expensive upfront setup cost for fabrication cleanrooms and foundry facilities are also hampering the growth of BioMEMS market.
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the BioMEMS Market. BioMEMS driver market is expected to be dominated by major companies such as Cepheid, Bluechiip, Given Imaging and Integrated Sensing Systems, Boston Scientific, Becton, Dickinson and Co (BD), Heimann Sensor, CapitalBio, Lepu Medical Technology, Nanopass Technologies, United Gene High-Tech Group, Teledyne DALSA, Mec, OMRON and Micron Technology among others.
- In January 2019, Omron Healthcare had launched HeartGuide. It is wearable blood pressure monitor. It can measure blood pressure through oscillometric technology. It can store up to 100 readings in memory and every data can be sent to a new alternate mobile application, HeartAdvisor. This product launch will expand the company product portfolio and will position the company as a market leader.
- In February 2019, VivaLNK had launched IoT-enabled medical wearable Sensor Platform for continuous patient monitoring. It has edge computing technologies, range of MEMS sensors and has an internal data cloud. It captures biometrics and human vitals, and supplies data from the patient to edge computing devices, and to the cloud, for application analysis and integration. This product launch will expand the company product portfolio and expand its market share.