BioMEMS Market Share , Size , Analysis , Growth , Trends and Forecasts to 2024 | Hexa Research
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BioMEMS Market Share , Size , Analysis , Growth , Trends and Forecasts to 2024 | Hexa Research
The global BioMEMS ( bio-medical electromechanical systems ) market is projected to grow at a CAGR above 25 % over the forecast period ( 2016-2024 ). It stood at USD 2.5 billion in 2014 . This can be credited to the expanding pool of patients adopting medical instruments on a rental basis . ‘ BioMEMS ’ is a subset of MEMS devices used in biomedical research . These devices are applied extensively in the healthcare sector . Based on requirement , these are offered as customized solutions to customers . BioMEMS includes devices , such as micro-optics , actuators , structural elements , miniature sensors , and microfluidic devices with computation & controls . They help patients by providing improved device performance .
Introduction of accelerometers in pacemakers has improved the treatment of cardiac diseases . This has contributed significantly to market growth . Other factors driving the market are a growing geriatric populace , low cost , and high efficiency of these devices . Long product development cycles and high research & development costs could impede
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