Global BioMEMS Market is expected to reach USD 22.33 Billion by 2024 from the value of USD 3.87 Billion in 2016 at CAGR of 24.5% (Detailed analysis of the market CAGR is provided in the report).
Global BioMEMS Market or Bio-Medical Electromechanical System is used in biomedical research. BioMEMS acts as a subset of MEMS devices. These devices are applied in the healthcare sector extensively. According to the requirement, these devices are basically customized solution to its customers. BioMEMS includes several devices, such as micro-optics, structural elements, miniature sensors, actuators and microfluidic devices with control and computation. They provide patients with the improved device performance.
Global BioMEMS Market
The Segmentation of Global BioMEMS Market is done by application, material, product, end-users, and geography. The leading sub segment by material is silicon and it is frequently used by major semiconductor companies because of its compatibility with electricity. They are expected to be on the top in the forecast period as they are widely used material in micromachining technology. By product, the largest segment of the Global BioMEMS Market is estimated to be the implantable product. Though some factors may restrain their growth but its applications such as ballistocardiography, will fuel this segment in the forecasting period. By application, diagnostics is integrated to be the dominating segment. This is possible due to the increasing demand of the sensors that can provide crucial information for the right prognosis to the doctors. Healthcare is estimated to lead the Global BioMEMS Market by the end-users segment. Safety concerns regarding the viral diseases will trigger the global demand for healthcare segment and therefore will fuel the Bio MEMS market.
The market on the basis of geography is segmented by North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. By volume and value, North America is going to emerge as one of the higher growth regions in forecast period due to the large number of healthcare manufacturers in the region. It is followed by Europe. Asia-Pacific is expected to grow at the largest rate in the forecast period because of its favorable economic conditions.
Increasing application and therefore increasing demand of Global BioMEMS Market are trending the overall Global BioMEMS Market. Also, the market is driven by the factors such as growing geriatric populace, low cost, and high efficiency of these devices. However, Long product development cycles and high research and development costs are the factors which restrain the market growth.
• Assessment of market definition along with the identification of key players and analysis of their strategies to determine the competitive outlook of the market, opportunities, drivers, restraints and challenges for this market during the forecast period
• Complete quantitative analysis of the industry from 2017 to 2024 to enable the stakeholders to capitalize on the prevailing market opportunities
• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
• Global BioMEMS Market analysis and comprehensive segmentation with respect to the application, material, product, end-users, and region to assist in strategic business planning
• Global BioMEMS Market analysis and forecast for five major geographies, Asia pacific, Europe, North America, Middle East & Africa, Latin America and their key regions
Years that have been considered for the study are as follows:
• Base Year - 2016
• Estimated Year - 2017
• Forecast Period - 2017 to 2024
For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered
Research methodology used in this report contains various Primary sources. They are Leadership figures such as CEOs, CSOs, VPs in key companies. Sources also include Key customers and B2B clients. Others are Supply-chain participants, distributors and domain experts. Bloomberg, Hoovers and Factiva are some of the sites that are being referred to gain insights about Global BioMEMS Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating the trends that are related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques and other comparative analysis can also be used to calculate the exact size of the Global BioMEMS Market globally.
• Business consultants, investment bankers and venture capitalists
• Material suppliers, product distributors, and retailers
• Pertinent government and private associations
• Research institutes
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms
• Market research and consulting firms
• Enterprise data center professionals
Scope of the Report:
Research report categorizes Global BioMEMS Market based on application, material, product, end-users and geography (region wise). Market size by value is estimated and forecasted with the revenues of leading companies operating in the Global BioMEMS Market with key developments in companies and market trends.
Global BioMEMS Market, By Application:
• Tissue Engineering
Global BioMEMS Market, By Material:
• Silicon and Glass
• Plastics and Polymers
• Biological Materials
Global BioMEMS Market, By Product:
Global BioMEMS Market, By End-User:
• Environmental Applications
• Food and Agricultural Industry
Global BioMEMS Market, By Geography:
• North America
• Asia Pacific
• Middle East and Africa
• Latin America
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