Bio-MEMS Market Growing Opportunity Due to Ongoing Partnerships Between Pharmaceutical and Engineering Industries
Biomedical microelectromechanical systems commonly referred as Bio-MEMs focuses on micro fabrication technologies and mechanical parts. The broad definition is focused on technology and science of operating at the micro scale for biomedical and biological applications. The market is expected to grow significantly during the forecast period. There are several factors aiding to the growth of the market. The application of Bio-MEMs improves the medical device operational performance for the patient. Moreover, it helps to build a healthy competition for the system manufacturers.The emergence of fabrication technologies like micro molding, assembling of 3D structures, soft lithography and biodegradable microfluidies have a significant impact on the field of implantable devices and regenerative medicine.
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In addition, Bio-MEMS devices have their usage in the polymer-based structures and biodegradable structures. The increasing efficiency along with the low cost of Bio-MEMs based devices is pushing the demand for the market. Furthermore, the rise in the ageing population is likely to surge the growth over the forecast period. Owing to the technology and advancements, there are lots of benefit for the related applications like implantable system and devices.
The primary restraint of the Bio-MEMS is the high cost of Research and Development (R & D) and the long timeframe for product development. In addition, strict regulatory guidelines acts as one of restraints of the market and restricts the free development of market.
Ongoing partnerships between pharmaceutical and engineering industries have a growing opportunity for development in the near future. The emerging idea of personalized medicine is expected to drive the market in future. Moreover, the integration of Microsystems is creating an added value for system manufacturers. The Microsystems technologies market is likely to expand primarily in the healthcare applications.
The market for Bio MEMS is segmented by material, product and by applications. By material the market is divided into silicon and glasses, plastics and polymers, biological materials and paper. By product, the market is segregated into biosensors. stents, micro modules, micro needles, biochips, gyroscopes, drug delivery devices, accelerometers and injectable Bio-MEMS among others. Furthermore, by application, the market can be categorized into diagnostics, therapeutic, tissue engineering and other related applications like medical implants and surgery. Microsystem devices are increasingly used in healthcare market for its increasing usage in medical home care, medical devices, vitro diagnostics, pharmaceutical and IVD medical devices. The widespread of usage in patient care, drug delivery, patient monitoring and medical imaging is driving the demand for Bio MEMS in the healthcare industry. The implementation of vitro diagnostics involves reduction in cost along with other mobile features. Owing to the concern for health and safety, it is expected that the demand for the home sector is likely to expand overtime. The mechanism involves actuators, micro-optics, miniature sensors, micro fluidics and structural elements which help in better computation for application in the healthcare sector.
By geography, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Majority of the manufacturers are headquartered in the U.S. and Canada. Moreover, U.S. has a significant share of investment in the health care industry. The second highest manufacturing region is Europe which includes some of the major players of the world. Asia-Pacific including India, China, Japan are expected to witness robust growth during the forecast period due to improving economical conditions.
The major players in the market are Cepheid, Dickinson & Co (BD), Honeywell International Inc., Integrated Sensing System Inc., All sensors corporation, Bluechiip Ltd., Analog Devices Inc., Knowles Corporation, Deboitech S.A., United Gene High- Tech group, Silicon Microstructures Inc., Omron Corporation, Perkinelmer Inc., St. Jude Medical Inc. and Teledyne Technologies Incorporated.
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