BioMEMS Market Size Forecast to Reach $15.5 Billion by 2027
Research Reports
Apr 08, 2022
The Global BioMEMS Market size is forecast to reach $15.5 billion by 2027, growing at a CAGR of 11.68% from 2022 to 2027. Growing technological advancement in biomedical research, medical micro-devices, biomedicine and others have been eventually driving the need for Biological Micro-Electro-Mechanical Systems (BioMEMS) market. Rising demand for BioMEMS devices applying traditional micro fabrication and microfluidics technology utilizing micro-sensors, actuators, transducers, and electronic components are some of the prime factors driving the global BioMEMS market. Furthermore, with growing adoption of micro total analysis system as a part of automating all biochemical analysis while ensuring optimization of diagnostic and therapeutic applications, BioMEMS devices has gained a huge traction. Growing incorporation of biomolecules as an integral part of the device is augmenting the market. Increasing proliferation of advanced genomics, proteomics and other biotechnology techniques is analyzed to create significant growth opportunities for BioMEMS market in the future years.
BioMEMS Segment Analysis- By Type
By type, global BioMEMS Market has been segmented into MEMS Sensors, Microfuids, Others. Sensors is analyzed to grow with the highest CAGR of 42.8% during the forecast period 2022-2027. Integration of bioMEMS sensors with medical devices with an aim to optimize next-generation sequencing (NGS), drug delivery systems, Point-of-Care diagnostics and precision micro tools capabilities are one of the prime factors boosting the market growth over time. BioMEMS sensors aids in developing high throughput screening methods in order to detect biological components with maximized precision. According to a report of HIT Infrastructure published on June 2021, 59% of healthcare organizations are currently deploying the internet of things (IoTs) to advance remote monitoring, while 35% of them have already planned to deploy IoTs in near future. In February 2019, Sensera, a global leader in providing IoT solution and sensor based products announced about expanding its micro-fabrication capabilities as a part of delivering commercially viable lab-on-a-chip and organ-on a chip diagnostics solutions to increase the efficacy of detection in biological components for diagnostics purposes. Such factors are further set to propel the market growth of global BioMEMS Market in the long run.
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BioMEMS Segment Analysis- By End Users
By end users, BioMEMS Market has been segmented into Home diagnostics, healthcare, pharmaceutical, research centers, agriculture, food and others. Pharmaceutical sector dominated the global BioMEMS Market with a share of 20.1% in 2021, and is analyzed to have a significant growth during 2022-2027. Rising shifts towards microfabricated platforms incorporated with BioMEMS and nanofabricated devices along with the growth in biomedicine is likely to continue in coming years, which in turn will increase the demand for BioMEMS devices. Growing adoption of BioMEMS devices in pharmaceutical sector to optimize the efficacy of therapeutics by integrating technologies like targeted drug delivery, timed drug release, and triggered drug release is resulting in speedy expansion of the market. In November 2021, Debiopharm, a Swiss biopharmaceutical company, announced about investing $4 million in Mekonos, a biotech company, involved in building the future of cell therapies on a chip. This investment was done with an aim to bolster the expansion of MEMS, Microfluidics, Biology, and Business Development functions of Mekonos to enhance the development of novel drug delivery systems. Such factors will fuel the growth of BioMEMS market in coming years.
BioMEMS Segment Analysis- By Geography
By Geography, BioMEMS Market has been segmented into North America, Europe, APAC, South America and Others. North America dominated the global BioMEMS Market with a share of 36% in 2021, owing to huge investments in healthcare sector and medical research. Rising investment towards innovative therapeutics or growth in biopharma industry is one of the key factors driving its market growth within the region. Factors such as rising disease awareness, well established health infrastructure, high investment towards domestic manufacturing of medical devices are the key factors fostering BioMEMS market in this region.
In 2020, the U.S. federal government announced about an investment of $11 billion in late-stage vaccine development and expansion of manufacturing capacity through Operation Warp Speed and the Biomedical Advanced Research and Development. Such governmental initiatives are set to create significant growth opportunities for the market during 2022-2027.
BioMEMS Market Drivers
Increasing penetration of wearable medical devices among the geriatric population to improve remote diagnostics and monitoring are impacting the market growth
Increasing penetration of mobile devices and wearable as a part of accelerating health condition monitoring including diabetes, blood pressure, blood gas monitoring and so on among the geriatric population acts as major factor driving the market growth towards global BioMEMS market. Growth in adoption of home care devices among consumers enabling remote diagnostics and monitoring is augmenting the market. Increasing integration of bioMEMS into such wearable and modules for mobile devices can be considered vital in boosting the market. The recent trend of shifting towards miniaturized systems using MEMS devices or MEMS technology is holding significant potential for growth in healthcare sector. The burgeoning demand for mobile care applications and patient monitoring equipment aids in the early diagnosis of disease indications, and such factors will propel the global BioMEMS market in Healthcare sector. In July 2020, The Indiana Biosciences Research Institute (IBRI) announced about developing a handheld device, called the BioMEMS Analyzer which would help in detecting biomolecules within a sample. This mobile device was developed to bolster rapid detection of resistant infections, and is set to fuel the market growth in the long run.
Growing integration of nanotechnology with Bio-MEMS supporting cellular interaction at molecular level drives its market forward
Growing integration of nanotechnology with Bio-MEMS supporting cellular interaction at molecular level act as a major driver boosting its market growth. In, nanotechnology integrated Bio-MEMS devices exhibits beneficiary capabilities such as low power consumption and lower production costs owing to its small size, which in turn are contributing towards the growth of the market Furthermore, with the substantial growth of medical field, biomedicine and bio-technology are evolving and adopting technological advancements. New developments in devices like accelerometers, drug delivery systems and gyroscopes or adoption of emerging technologies like DNA or microprotein arrays, enzyme-linked immuno-sorbent assay, and fluorescence resonance energy transfer-based analysis in medical field are the few factors boosting the market growth over time.
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BioMEMS Market Challenges
High cost associated with extensive research & development and expensive upfront setup hinders its market growth
BioMEMS incurs high costs associated with its extensive R&D, installation, integration, deployment and additional maintenance services owing to its robust infrastructure combined with stringent security policies. Many medical equipment manufacturing and pharmaceutical companies are limiting its adoption due to high financial requirement. Traditional healthcare sector never had to invest in advanced technology thus many of them are still reluctant to adopt this technology due to limited budget allocation. Such factors have been creating an adverse impact on its market growth.
BioMEMS Industry Outlook
Product innovations, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the market. BioMEMS top 10 companies include:
Oxford Instruments
Philips Engineering Solution
Taylor Hobson
Teledyne DALSA
Micron Technology
OMRON
MEC Company LTD
Amphenol
TE Connectivity
Boehringer Ingelheim
Recent Developments
In October 2021, Boehringer Ingelheim announced about the launch of biopharmaceutical production facility Large Scale Cell Culture (LSCC) in Vienna, Austria to accelerate digitalization and automation through smart technologies and artificial intelligence applications. This multi-product plant and flexible line structures was established to enable production of a large variety of molecule formats.
In July 2021, OMRON Healthcare, announced about the launch of OMRON Complete, its first single-lead electrocardiogram (ECG) and blood pressure monitor for home use. This product launch was done to expand the product portfolio of IoT enabled medical devices.
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Key Takeaways
BioMEMS sensor is analyzed to witness highest growth in the BioMEMS Market during 2022-2027 owing to growing integration of MEMS sensors with medical devices.
North America BioMEMS Market held the largest share in 2021, attributing to factors like early adoption of IoT in medical research and high investments towards advanced technology in biomedical research, medical micro-devices, biomedicine and others.
Increasing penetration of wearable medical devices among the geriatric population to improve remote diagnostics and monitoring along with growing integration of nanotechnology with Bio-MEMS supporting cellular interaction at molecular level are analyzed to significantly drive the global BioMEMS Market during the forecast period 2022-2027.
Related Reports:
A. Micro-Electro Mechanical Systems (MEMS) Market
https://www.industryarc.com/Report/28/global-microelectromechanical-systems-mems-market.html
B. MEMS Magnetic Field Sensors Market
https://www.industryarc.com/Report/15576/mems-magnetic-field-sensor-market.html
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