Positive Outlook for Bio-MEMS Market during Forecast 2016-2024, Anticipated to Surge with Strong CAGR of 20.9%

Albany, New York, February 28, 2017: In recent years, Biomedical (or biological) Microelectromechanical (Bio-MEMS) Systems industry has been emerged rapidly due to its wide adoption in healthcare divisions. The sophisticated microfabrication methods used in bio-MEMS have enabled treatment of serious diseases, which creates a high demand for these bio- devices. By looking at these factors, analysts have recently prepared a new study, titled as “Global Bio-MEMS Market Forecast 2016-2024”which provides a comprehensive understanding of the global market’s current scenario and future growth prospects. This study has been recently added to the vast catalog of Market Research Hub’s report offerings section.

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Firstly, the report majorly highlights the key findings of the market by analyzing the market dynamics such as opportunities, restraints and driving factors. According to the analyst’s estimation, the global bio-MEMS market is projected to be worth US$3.8 billion by the end of 2024. Also, widely use of Bio-MEMS for clinical diagnostics and for research & development in the healthcare sector, the global market is predictable to expand at a strong CAGR of 20.9% between the forecast years of 2016-24.

Moreover, the report briefly describes the market overview of Bio-MEMS and its evolution. Bio-MEMS has emerged as a subclass of MEMS devices for applications in biomedical research and these are extensively being used for diagnostic purposes with the help of microfluidics. Also, the growing demand for artificial limbs or substitutes for particular nerve problem has enhanced the uptake of bio-MEMS in recent years. Furthermore, the market is also being driven by the advantage of bio-MEM such as quick and accurate detection of pathogens and bacteria.

Geographically, the global bio-MEMS market is segmented into following regions; Europe, the Middle East and Africa, APAC, North America and South America. Among these, in 2015, the North American region held a key amount of share in the global market, which was closely followed by the Europe. Also, this regional segment is expected to lead and acquire a share of 37.4% until 2024. The high adoption of advanced treatment techniques in North America region is expected to enhance the profits of the regional market.

Moving further, the market is also segmented on the basis of types and applications. Different types of bio-MEMS include:

Gyroscopes
Accelerometers and others

The bio-MEMS market globally has also been further segmented into ENT implants, neural implants, bionics, cardioMEMS etc.

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Some of the top players in the global Bio-MEMS market are Perkin Elmer (The U.S.), Becton Dickinson (The U.S.), Abbott Laboratories (The U.S.), Medtronic (The U.S.), Baxter International Inc. (The U.S.), Boston Scientific (The U.S.) and Teledyne Dalsa Inc. (The U.S.).

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This release was published on openPR.