MEDICAL MICRO-ELECTRO MECHANICAL SYSTEMS MARKET ANALYSIS

Medical Micro-Electro Mechanical Systems MarketSize and Trends

Medical Micro-electro Mechanical Systems (MEMS) Market – Market Insights

Micro-electro mechanical systems (MEMS) is an innovative technology used to manufacture small mechanical and electro-mechanical devices that are employed in medical devices through microfabrication techniques. Basic elements of MEMS comprises miniaturized structures, actuators, sensors, and microelectronics. The MEMS technology uses concepts of biology and microelectronics to improve patient monitoring. MEMS technology helps in fast and accurate diagnosis of diseases due to microchip technology. Moreover, rising research and development in the MEMS technology has led to the development of innovative products by medical technology companies operating in the global market. For instance, in December 2019, Omron Corporation developed 2SMPB Absolute Pressure Sensor based on Omron’s MEMS technology. It is a small sensor used to measure altitude, atmospheric pressure or water depth in wearable electronics and also used in industrial and marine instruments, mobile phones, and cameras.

The global medical micro-electro mechanical systems (MEMS) market is expected to be valued at US$ 4,710.4 million in 2019 and is expected to exhibit a CAGR of 18.5% over the forecast period (2019-2027).

Figure 1. Global Medical Micro-electro Mechanical Systems (MEMS) Market Value (US$ Mn), by Region, 2019

Source: Coherent Market Insights Analysis (2020)

Figure 2. Global Medical Micro-electro Mechanical Systems (MEMS) Market Share (%), by Application, 2027

Source: Coherent Market Insights Analysis (2020)

Rising demand for wearable technologies such as smart watches and the growing market for IOT devices are expected to drive the market growth over the forecast period.