The Bio-MEMS market is expected to register a CAGR of 16.5% in the forecast period (2020 - 2025). Bio-MEMS is nothing but a subset of MEMS and microtechnology, particularly the usage of MEMS sensors for the biological systems and in general to human health. From the last three years, technology giants like Google, AWS, and Apple among others are investing into research and development in the healthcare domain for developing painless healthcare diagnostic systems, due to which, the application of Bio-MEMS are expected to grow further in the near future.
- The mobile care applications have been increasing from the recent past years due to the development and incorporation of advanced technologies in the healthcare industry across the world. Companies are continuously developing mobile health monitoring products. For instance, biolinq developed a mobile painless blood pressure monitoring device for people having chronic diseases.
- Further, the aging of the population globally is another factor for the increased adoption of mobile healthcare devices. Along with aging, the ratio of people suffering from chronical diseases are also growing; ultimately leading to the increased expenditures on healthcare.
- However, the growth of the bio-MEMS market is restricted owing to the high cost incorporated with the research and development and also due to its long development cycle.
Scope of the Report
The scope of the study for the bio-MEMS market is limited to the type of products including microfluidic chips and pressure sensors offered by the vendors for the medical and healthcare applications across the world.
Key Market Trends
Microfluidic Chips to Hold the Largest Market Share
- A microfluidic chip is a set of micro-channels etched or molded into a glass, silicon, or polymer materials such as PolyDimethylSiloxane. The chip is usually transparent and its length or width are from 1 cm to 10 cm, and the chip thickness ranges from about 0.5 mm to 5 mm. The micro-channels forming the microfluidic chip are connected together in order to achieve the desired features of mixing, pumping, sorting, or controlling the biochemical environment.
- The microfluidic chips have got traction of applications in the biomedical field as it allows the integration of many medical tests on a single chip. Also, in terms of applications, it features as the cost-effective, easy to manufacture, and easy to use which is driving its adoption rate in the field of healthcare.
- Government entities are also investing extensively in the manufacturing facilities of the microfluidic chips. For instance, in June 2019, NASA invested USD 125,000 as phase-I funding for the project by Techshot to develop in-Space manufacturing of microfluidic chips for use in biological research aboard the International Space Station.
- Also, the researchers are investing in innovating Bio-MEMS for cancer detection in blood. WHO has stated that, one in five men and one in six women worldwide develop cancer during their lifetime, and one in 8 men and one in 11 women die from the disease.
- On the other hand, the increasing demand from the next-generation sequencing application, the microfluidics chips are driving the market for the Bio-MEMS. Currently, there are more than 100 companies indulged in the competitive market fo net-generation sequencing including Illumina Inc and BGI. The applications of the next-generation sequencing are expected to grow significantly in the forecast period, which may create more demand for the microfluidic chips.
North America Region to Grow Significantly
- The North America region is one of the early adaptors to the emerging technologies as may tech companies in the region invest and indulge themselves in commercializing the products in the market. Recently with the ongoing concern about the population health in the United States due to the increasing rate of chronic diseases in the country. According to the Center for Disease Control and Prevention, currently, at least one in six American people are suffering from any of the chronic diseases.
- The companies in the region are extensively investing in the point-of-contact testing applications and self-monitoring devices such as blood glucose testing; because it reduces the cost of healthcare and saves time. Such investments and commercialization of these products are expected to create demand for Bio-MEMS market in the region.
- Moreover, the companies in the region are seeking growth opportunities for the applications of Bio-MEMS by expanding their manufacturing plants which may fuel the demand for the market in North America.
- For instance, Siemens Helathneers recently announced the expansion of its manufacturing facility in Canada. The company has planned to offer wireless solution that enables comprehensive blood analysis testing at the patient's side on a single room-temperature test card, with results in less than a minute.
The Bio-MEMS market is said to be a consolidated market with very few companies offering specific Bio-MEMS products. But, as many technology companies are investing in costly projects towards its research and development, its applications are expected to increase further and new mobile healthcare device to be launched in the recent future which will lead to more demand and entries of vendors offering these products.
- May 2019 - Abbott launched a smartphone connected implantable cardiac monitor named 'Confirm Rx'. It is a next-generation device of paper-vhip size designed for for the remote monitoring of unpredictable heart rhythm problems, and is intended to produce fast and accurate diagnoses.
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