A recent report published by Infinium Global Research on Bio-MEMS market provides in-depth analysis of segments and sub-segments in global as well as regional Bio-MEMS market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional Bio-MEMS market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global Bio-MEMS market. According to the report, the global Bio-MEMS market is projected to grow at a CAGR of 21.2% over the forecast period of 2018-2024.
Bio-MEMS or bio-medical micro-electro-mechanical systems improve the performance of medical devices. These miniaturized products play an important role in biological and medical applications. They are used in the biomedical transducer, microfluidics, medical implant, microsurgical tools, tissue engineering, and other profuse applications. These products improve the drug delivery system and advance the treatment for cardiac diseases. A variety of healthcare sectors such as medical devices, pharmaceutical, in-vitro diagnostics, and medical home care cause a huge demand for Bio-MEMS. Further, Bio-MEMS market has appeared as a division of MEMS devices for applications in biomedical research and microdevices. Moreover, it offers paramount benefits such to system manufacturers and improves medical device performance, which in turn, provides a competitive advantage to the system manufacturers.
Growing demand for artificial limbs is a key factor driving the demand of Bio-MEMS market. Moreover, development of patient monitoring equipment system and rising usages of Bio-MEMS in surgical, diagnostic and therapeutic microsystems are supporting factors augment the market growth. Additionally, it improves the drug delivery system with the utilization of nanotechnology and advances the treatment for cardiac diseases, this factor positively fuels the growth for the global Bio-MEMS market size over upcoming years. Besides, increasing mobile care applications and growing adoption of medical instruments is also likely to contribute appreciably to the demand growth. However, on the other side, long product development cycles and high R&D costs can slow down market growth. While the alliances between pharmaceutical and engineering companies may provide opportunities for further market growth through the development of innovative products.
Geographically, the North America region provides a massive contribution to the growth of the Bio-MEMS market. Furthermore, the Strong establishment of a government for the development of healthcare infrastructure and high acceptance towards the adoption of advanced treatment techniques are some factors boosting the demand of Bio-MEMS market in North America region. Further, Asia Pacific region is expected to offer profitable opportunities in Bio-MEMS market as governments are focusing on improving healthcare facilities in the region.
The report on global Bio-MEMS market covers segments such as application, and types. On the basis of application, the global Bio-MEMS market is categorized into diagnostic, therapeutic, surgical, detection, analysis, drug delivery, and cell culture. On the basis of types, the global Bio-MEMS market is categorized into in vivo devices and microcantilever sensors.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography is provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while the Asia-Pacific region includes countries such as China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are the major markets included in the European region. The U.S. drives the growth in the North America region, as it is the largest market in the region. In the Asia-pacific region, rapid industrial growth in India and China offer a substantial potential for the growth in the Bio-MEMS market. As a result, the APAC region is projected to experience a growth at a CAGR of x.x% over the forecast period 2018-2024.
The report provides profiles of the companies in the global Bio-MEMS market such as Becton, Dickinson and Company, Abbott, Boston Scientific Corporation, Medtronic, PerkinElmer Inc., Teledyne DALSA Inc., Baxter, CapitalBio Technology, lepumedical, and United Gene High-Tech Group.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global Bio-MEMS market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of Bio-MEMS market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the Bio-MEMS market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the Bio-MEMS market to understand the present and future trends in this market and formulate their strategies accordingly.
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