MEMS Medical Applications Market to GrowAugust 29, 2013
A new Transparency Market Research report forecasts that sales in this segment will reach $6.5 billion globally by 2019.
NEW YORK /PRNewswire/ -- According to a new market report published by Transparency Market Research titled "MEMS in Medical Applications Market (Applications - Diagnostic, Monitoring, Therapeutic & Surgical, Sensor types - Pressure, Temperature, Microfluidics, Accelerometers, Flow and End Users - Home healthcare, Hospitals and Healthcare Research) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013–2019," the global MEMS medical applications market was valued at USD 1.8 billion in 2012 and is expected to grow at a CAGR of 20.2% from 2013 to 2019, to reach an estimated value of USD 6.5 billion in 2019.
Browse the full report on the company's Web site.
Micro-Electro-Mechanical Systems (MEMS) are defined as devices made up of miniaturized mechanical and electromechanical elements using micro fabrication techniques. MEMS consist of miniaturized structures, such as sensors, actuators, and microelectronics. The prime elements are micro sensors and micro actuators. These are also called transducers, and they help in the conversion of one form of energy into another. Technological advances have led to development of a synergistic relation between unrelated fields such as biology and microelectronics. Moreover, increased preferences of patients toward home healthcare monitoring to reduce the hospitals costs have consequently triggered the use of MEMS technology. Demand for miniaturized and portable devices from physicians has driven medical device manufacturers to embed MEMS sensors in their devices. MEMS technology also helps in providing rapid and accurate diagnosis of diseases.
In addition, personalized medicine and implantable sensors, though in their nascent stage, have opened new avenues for MEMS manufacturing companies. Manufacturers of MEMS are increasingly collaborating with pharmaceutical, biotech, and medical device companies to make highly advanced products with the capability to provide accurate results and keep costs low.
MEMS in medical applications can be segmented on the basis of their use in medical devices, diagnostic devices, therapeutic devices, and surgical devices. The therapeutic devices market is expected to have the highest growth, owing to the rise in the use of intrathecal pumps and other targeted drug-delivery methods, including insulin delivery pumps.
The MEMS sensors market in medical applications includes the use of various sensors, such as pressure, temperature, flow, accelerometers, optical, and gyroscopes. Pressure sensors have the largest market at $486.0 million in 2012 and are expected to grow at CAGR of 18.7% from 2013 to 2019.
Geographically, North America has the largest share of the MEMS market in medical applications and was valued to be more than $800 million in 2012. However, Asian countries, namely India and China, are witnessing fast growth and are predicted to emerge as dominating markets in the near future, owing to the rise in awareness and increased disposable income in these nations.
THE MEMS medical applications market is highly fragmented and includes major players such as GE Sensing and Control, Honeywell, Freescale, Measurement Specialties, Texas Instruments, STMicroelectronics, and other regional and local players.
The MEMS medical applications market is segmented as follows:
- Diagnostic devices
- Monitoring devices
- Surgical devices
- Therapeutic devices
By Sensor Type
- Pressure sensors
- Temperature sensors
- Flow sensors
- Optical image sensors
- Micro dispensers for drug delivery
- Microfluidic chips
- Silicon microphones
By End Users
- Home healthcare
- Healthcare research
- North America
- Asia Pacific
- Rest of the World (RoW)
Browse all Medical Devices Market Research Reports online.
About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We are privileged with highly experienced team of Analysts, Researchers, and Consultants, who use proprietary data sources and various tools and techniques to gather, and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Most Read Articles