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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