Global Medical Micro-electro Mechanical Systems (MEMS) Market, by Sensor Type (Pressure Sensors, Microfluidic Device Sensors, Accelerometers, Gyroscopes, Optical Sensors, Microphones, and Others), by Application (Monitoring and Diagnostic Devices, Surgical Devices, and Therapeutic Devices), by End User (Hospitals and Clinics, Research Institutions, and Biotechnology Companies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on continuous research and development, in order to develop and commercialize technologically advanced micro-electromechanical systems for medical application. For instance, in May 2019, Abbott Laboratories launched its Confirm Rx ICM, a next-gen detection technology to offer a smarter approach to 24/7 heart monitoring for people with irregular heartbeats. The smartphone-compatible implantable heart monitor was launched in Europe and the U.S. to help to detect heart rhythm disorders more accurately.
Moreover, in July 2017, MEMSIC Inc., launched MDP200 Bi-directional Differential Pressure Sensor for medical and other applications.
Furthermore, incorporation of nanotechnology with MEMS has led to the development of numerous applications such as biochips, polymerase chain reaction, electroporation, ELISA, electrophoresis, micro-machined scanning tunneling microscopes, and micro systems for drug screening and selection.
Browse 36 Market Data Tables and 30 Figures spread through 237 Pages and in-depth TOC on “Medical Micro-electromechanical Systems (MEMS) Market”- Global Forecast to 2027, by Sensor Type (Pressure Sensors, Microfluidic Device Sensors, Accelerometers, Gyroscopes, Optical Sensors, Microphones, and Others), by Application (Monitoring and Diagnostic Devices, Surgical Devices, and Therapeutic Devices), by End User (Hospitals and Clinics, Research Institutions, and Biotechnology Companies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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Key players in the market are focusing on mergers, acquisitions, collaborations, and partnerships, in order to expand their product portfolio and global presence in the market. For instance, in February 2017, Hill-Rom Holdings, Inc. acquired Mortara Instrument, Inc., a leading designer, developer, and manufacturer of diagnostic cardiology instrument. The acquisition is expected to expand Hill-Rom Holdings, Inc., product portfolio for advance diagnostics capabilities in cardiology.
Moreover, in November 2018, Cardiac Insight, Inc., a body-worn sensing and computing Technology Company for cardiac diagnostics entered into a collaboration with VivoSense, a company specializing in wearable sensor physiological monitoring solutions for research and clinical trials of MEMS Devices. Under this collaboration Cardiac Insight, Inc., enhanced analytics to expand usage of their wearable cardiac sensors in clinical trials and other healthcare applications.
Key Takeaways of the Global Medical Micro-electromechanical systems (MEMS) Market:
- The global medical micro-electromechanical Systems (MEMS) market is expected to exhibit a CAGR of 18.5% over the forecast period, owing to growing shift towards portable MEMS devices.
- Among applications, monitoring and diagnostic devices segment expected to holds a higher market share in 2019, owing to its high efficiency, efficacy, and real-time analysis of patients’ data
- The global medical MEMS market is characterized by geographical expansion in Asia Pacific, North America, and Europe, which is expected to generate higher market revenue due to increasing prevalence of lifestyle diseases such as cancer, diabetes and others
- Key players operating in the global medical micro-electromechanical systems (MEMS) market include Honeywell Sensing and Control, Abbott Laboratories, Flexpoint Sensor Systems, Analog Device Inc., GE measurement and control solutions, Omron Corporation, Integrated Sensing Systems, MemsTech Bhd., and Agilent Technologies
