Market Size of Bio-MEMS Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 16.50 % |
| Fastest Growing Market | North America |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Bio-MEMS Market Analysis
The Bio-MEMS market is expected to register a CAGR of 16.5% in the forecast period (2021 - 2026). 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.
- Also, wearable biochemical sensors have been witnessing huge preference due to potential applications in personalized medicine and continuous monitoring of human health. Therefore, vendors of the market studied have been observed putting investments in development of such MEMS sensors to enable real-time and non-invasive measurement of chemical constituents in the human body such as sweat, saliva, and tears.
- 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.
- The recent outbreak of COVID 19, has led the bio-mems sensor market to witness a significant surge in the short term owing to huge requirement for testing and monitoring the virus. Also, bio-mems sensor technology is helping to identify outbreak hotspots, prevent infections, reduce the need for physical contact in diagnostics, and even work towards developing a vaccine for COVID-19.
- For instance, Biomeme's platform a start up, transforms smartphone into a mobile lab for advanced DNA diagnostics and real-time disease surveillance. Biomeme allows pharma companies to quickly set up pop up labs all over the world by leveraging smartphone devices.
