MEMS for the therapeutic market is estimated at USD 7.39 Billion in 2021 and is projected to grow to USD 17.07 Billion by 2028, at a CAGR of 12.7%.
MEMS means a micro-electromechanical system is a tiny machine that has both mechanical and electrical properties and is developed through microfabrication techniques using an integrated circuit having a size in the range from a few micrometers to millimeters. In 1960 MEMS has first presented but was not popularized until 1980. Generally, MEMS consists of mechanical microsensors, microstructures, micro actuators, and microelectronics all joined to the same silicon chip. Microsensors measure the mechanical, magnetic, thermal, chemical, or electromagnetic information of the system’s environment and detect the changes in such environment. This information is processed by microelectronics and gives a signal to micro-actuators for reacting and creating some form of change in the environment. MEMS is a very small device but has numerous applications in healthcare. It is the one of regenerated semiconductor components in healthcare. MEMS detects the motions of gravity, accelerations, angular motion, pressure, and magnetic field. It is used in pedometers, mobile ECG machines, and blood pressure monitoring devices. Thus, it has increased the demand for the therapeutic market.
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Major Key Players for MEMS for Therapeutics Market:
- Honeywell (USA)
- Royal Philips (Netherlands)
- Texas Instruments (USA)
- STMicroelectronics (Netherlands)
- General Electric Company (USA)
- Debiotech (Switzerland)
- Agilent Technologies (USA)
- Omron Corporation (Japan)
- Silex Microsystems (Sweden)
- Sensera Ltd (Australia)
Market Dynamics and Factors:
Increased awareness of the public regarding healthcare, physical activities, and safety has developed the emerging need for smart sensor technologies and monitoring devices such as MEMS-based technologies that feedback to users regarding their health status, and physical activities, and evaluate the environment and safety condition in the epidemic. MEMS has a wide range of applications such as is used in pedometers to calculate the running or walking step count, speed, distance, and calories. MEMS microphones helped in hearing with high sound quality, reliability, and affordability. It also helps in the diagnosis of glaucoma, detecting the blood pressure, and measures the physiological parameters such as heart rate, ECG, and breathing rate.
In addition to this MEMS-based sensor, have several diagnostic applications like point of care parameters measurement device, used in the monitoring of cholesterol, pregnancy, and detection of the food allergy. Because of this, applications increase the research and development of technologies. This propels the growth of the market of MEMS for therapeutic in the forecast period.
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MEMS for Therapeutics Market Report Highlight:
- By type, microfluidics is expected to have the maximum market share in the MEMS for the therapeutic market during the projected period. Microfluidics is incorporated into several medical devices such as cardiac monitors, breath analyzers, and glucose meters that help to increase the market in the projected timeframe.
- By end users, the home healthcare segment is predicted to expand the most in the MEMS for the therapeutic market during the forecast year. The increasing number of diabetes patients, CVS diseased patients, and hypertension patients helps to increase the use of MEMS technology in-home healthcare service, which supports to increase in the market over the forecast period.
- By region, North America is expected to dominate the MEMS for the therapeutic market, during the projection period. An increase in the adoption of emerging technologies and a large number of manufacturers of MEMS medical devices are helping to grow the MEMS for therapeutic market in the region.
Key Industry Development:
In March 2022, Honeywell announced a new accelerometer MV60 MEMS accelerometer that delivers high performance and reliability in a small, rugged, and low-cost package. It is designed for aerospace and defense but is also used for industrial and marine applications.
In January 2021, Honeywell created the next generation of inertial sensor technology with funding from the Defense Advanced Research Projects Agency (DARPA) in the US. This sensor is used in commercial as well as defense navigation applications
MEMS for Therapeutics Market Segmentation:
By End Users
- Home Healthcare
- Research Centers
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For this report, Introspective Market Research has segmented the MEMS for therapeutics market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The MEMS for Therapeutics Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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