PUBLISHER: The Business Research Company | PRODUCT CODE: 1597000
PUBLISHER: The Business Research Company | PRODUCT CODE: 1597000
Biomedical microelectromechanical systems (BioMEMS) and healthcare microsystems are miniature devices that integrate mechanical, electronic, and biological elements to perform sophisticated medical functions. They facilitate accurate diagnostics, continuous monitoring, and targeted treatments due to their compact design and high integration.
The primary categories of BioMEMS and microsystems in healthcare are biomedical microelectromechanical systems (BioMEMS) and microsystems. BioMEMS are small-scale devices that merge mechanical, electrical, and biological components, allowing for precise and real-time monitoring and treatment, ultimately improving patient care by offering more accurate and efficient medical solutions. Their applications span clinical diagnostics, therapeutic and surgical devices, among others, catering to end users such as hospitals, diagnostic centers, and research laboratories.
The BioMEMS and microsystem in healthcare market research report is one of a series of new reports from the business research company that provides BioMEMS and microsystem in healthcare market statistics, including BioMEMS and microsystem in healthcare industry global market size, regional shares, competitors with an BioMEMS and microsystem in healthcare market share, detailed BioMEMS and microsystem in healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the BioMEMS and microsystem in healthcare industry. This BioMEMS and microsystem in healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The BioMEMS and microsystem in healthcare market size has grown rapidly in recent years. It will grow from $4.53 billion in 2023 to $5.12 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The increase during the historical period can be linked to an aging population, a higher demand for advanced diagnostic tools, a growing incidence of chronic diseases, investments in biotechnology, and shorter hospital stays.
The BioMEMS and microsystem in healthcare market size is expected to see rapid growth in the next few years. It will grow to $8.34 billion in 2028 at a compound annual growth rate (CAGR) of 13%. The growth anticipated in the forecast period is driven by a rising need for continuous monitoring, personalized treatments, the adoption of wearable technology, an increasing demand for minimally invasive surgeries, and ongoing research and development. Key trends expected in the forecast period include the integration of artificial intelligence, advancements in biocompatibility and materials, telemedicine, lab-on-a-chip (LOC) and point-of-care (POC) diagnostics, as well as microfluidics for drug delivery.
The rising demand for personalized medicine is expected to drive the growth of the BioMEMS and microsystems in healthcare market in the coming years. Personalized medicine refers to a healthcare approach that tailors medical treatments to the unique characteristics of each patient. Enhanced understanding of genetic variations, along with advancements in diagnostic tools, data analysis, bioinformatics, and precision medicine technologies, contributes to the focus on personalized medicine. BioMEMS and microsystems in healthcare facilitate accurate, real-time monitoring and diagnostics, supporting the demand for personalized medicine by providing customized treatments based on individual health data. For example, data from the Personalized Medicine Coalition (PMC) revealed that in 2023, the FDA approved 16 new personalized treatments for rare diseases, a notable increase from six approvals in 2022. Therefore, the growing demand for personalized medicine is propelling the BioMEMS and microsystems market in healthcare.
Leading companies in the BioMEMS and microsystems healthcare market are concentrating on developing advanced products, such as integrated audio modules for over-the-counter hearing aids, to address the rising demand for compact audio solutions in various electronic devices. These integrated audio modules combine microelectromechanical systems (MEMS) speakers with electronics to enhance sound quality and accessibility without requiring a prescription. For instance, in March 2023, USound GmbH, an innovative company based in Germany, introduced Kore 4.0, an integrated audio module featuring the advanced Tarvos ultra-low power audio amplifier and the latest Conamara MEMS drivers. This module offers outstanding audio performance and low power consumption in a compact design, making it suitable for wearables and over-the-counter hearing aids. It incorporates USound's patented technology, seamlessly integrates with any Bluetooth System-on-a-Chip (SoC), and can be customized for medium- to high-volume production. Its design also allows for further miniaturization, creating additional space for sensors and components.
In July 2024, Illumina Inc., a US-based biotechnology company specializing in genetic sequencing and array-based technologies, acquired Fluent BioSciences, Inc. for an undisclosed sum. This acquisition enhances Illumina's ability to meet the growing demand for single-cell analysis solutions, which are increasingly vital in various areas of biological research and medicine. Fluent BioSciences Inc. focuses on developing microfluidic systems that utilize MEMS technology.
Major companies operating in the biomems and microsystem in healthcare market are Johnson & Johnson, Robert Bosch GmbH, Qualcomm Incorporated, Danaher Corporation, Koninklijke Philips NV, Infineon Technologies AG, TDK Corporation, TE Connectivity Ltd, STMicroelectronics NV, Murata Manufacturing Co Ltd, NXP Semiconductors NV, Boston Micro Fabrication, Analog Devices Inc, Microchip Technology Incorporated, Renishaw plc, Teledyne DALSA Semiconductor Inc, Sensirion AG, SPTS Technologies Ltd, MEMSIC Inc, Silex Microsystems AB, Amphenol Advanced Sensors Puerto Rico LLC, Tronics Microsystems SA, xMEMS Labs Inc., Bluechiip Limited
North America was the largest region in the BioMEMS and microsystem in healthcare market in 2023. The regions covered in the biomems and microsystem in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the biomems and microsystem in healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The BioMEMS and microsystem in healthcare market consists of sales of implantable devices, micro pumps, micromachined instruments, and imaging systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
BioMEMS And Microsystem In Healthcare Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on bioMEMS and microsystem in healthcare market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for bioMEMS and microsystem in healthcare ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The bioMEMS and microsystem in healthcare market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.