Global Medical MEMS Market

Medical MEMS Market Size, Share, Growth Analysis, By Sensor Type(Pressure Sensors, Microfluidic Device Sensors, Accelerometers, Gyroscopes), By Application(Monitoring, Diagnostic Devices, Surgical Devices, Therapeutic Devices), By End User(Hospitals, Clinics, Research Institutions, Biotechnology Companies), By Region - Industry Forecast 2025-2032


Report ID: SQSG35A2091 | Region: Global | Published Date: February, 2024
Pages: 244 | Tables: 96 | Figures: 76

Medical MEMS Market Dynamics

Medical MEMS Market Driver

  • Healthcare MEMS has made it feasible to monitor patients in real time without admitting them to hospitals, improving, more cheaply, quickly, and more widely accepted healthcare.
  • A growing demand for smart sensor technologies and monitoring devices that can sense, classify, and provide feedback on users' health status and physical activity as well as evaluate environmental and safety conditions has emerged over the past few decades due to the public awareness of healthcare, physical activity, safety, and environmental sensing.
  • Medical MEMS in medical applications is driven by a number of factors, including rising population's interest in portable and home-care devices, growing elderly population, rising technical development in MEMS-related technology, decreasing costs associated with MEMS technology, rising government initiatives, and increase in the use of MEMS-related products.
  • The main factor anticipated to boost growth of the global medical micro-electro mechanical systems (MEMS) market is the rising popularity of wearable technologies like smart watches.

Medical MEMS Market Restraint

  • Key restraints on the growth of the global medical micro-electro mechanical systems market over the forecast period are likely to be high development costs of MEMS devices, strict government requirements for product approval, and reliability difficulties of MEMS devices. Additionally, delays in FDA approvals and lack of testing standards are limiting market growth throughout the projection period.
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FAQs

Medical MEMS Market size was valued at USD 2.74 billion in 2019 and is poised to grow from USD 2.84 billion in 2023 to USD 3.77 billion by 2031, growing at a CAGR of 3.6% in the forecast period (2024-2031). 

Medical MEMS Market is slightly fragmented with few major players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships. Key players in the market include Honeywell Sensing and Control, Abbott Laboratories, Flexpoint Sensor Systems, Analog Device Inc. and GE measurement and control solutions. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Medtronic (US) ', 'Abbott Laboratories (US) ', 'Johnson & Johnson (US) ', 'GE Health Care (US)', 'Siemens Healthineers (Germany)', 'Philips Health Care (Netherlands)', 'Stryker Corporation (US)', 'Baxter International Inc. (US)', 'Becton, Dickinson and Company (US)', 'Roche Diagnostics (Switzerland)', 'Boston Scientific Corporation (US)', 'Thermo Fisher Scientific Inc. (US)', 'Olympus Corporation (Japan)', 'Carl Zeiss Meditec AG (Germany)', 'C.R. Bard, Inc. (US)', '3M Health Care (US)', 'Hologic, Inc. (US)', 'Hitachi Medical Corporation (Japan)', 'Terumo Corporation (Japan)', 'Smith & Nephew plc (UK)'

Healthcare MEMS has made it feasible to monitor patients in real time without admitting them to hospitals, improving, more cheaply, quickly, and more widely accepted healthcare.

The performance of thin-film piezo materials has greatly increased over the past two decades and has caught up to that of their crystalline counterpart, increasing the efficiency and sensitivity of ultrasonic transmission. Inkjet printers, gesture recognition, speakers, autofocus modules, fingerprint sensors, time of flight sensors, and other consumer applications are just a few of the ones that have developed. Currently the ultrasound transducer market is flourishing. The most recent ultrasound transducer is a piezoelectric micromachined ultrasonic transducer (pMUT), which combines the advantages of classic discrete transducers with those of integration. It is based on deposited piezoelectric layers on silicon MEMS wafers.

North America held the highest Medical MEMS Market share. As many tech businesses in the region spend and engage themselves in commercialising the items in the market, the North American region is one of the early adopters of the developing technology. Due to the rising prevalence of chronic illnesses in the US, there has recently been persistent worry about the health of the people. Companies in the region are heavily investing in self-monitoring tools like blood glucose metres and point-of-contact testing programmes because they save healthcare costs and save time. Growth of the medical MEMS market in the region is anticipated to increase as a result of such investments and the commercialization of these products. Additionally, businesses in the region are pursuing development prospects for medical MEMS applications by increasing their production facilities, which might increase North America market growth.

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Global Medical MEMS Market

Report ID: SQSG35A2091

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