Albany, NY -- (ReleaseWire) -- 06/26/2014 -- The global MEMS Medical Applications Market was valued at USD 1.8 billion in 2012 and is expected to grow at a CAGR of 20.2% from 2013 to 2019, to reach an estimated value of USD 6.5 billion in 2019.
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Micro-Electro-Mechanical Systems, MEMS is defined as devices made up of miniaturized mechanical and electromechanical elements using micro fabrication techniques. MEMS comprises of miniaturized structures such as sensors, actuators and microelectronics. The prime elements are micro sensors and micro actuators. These are also called as transducers which help in conversion of one form of the energy into another. Technological advances have led to development of a synergistic relation between the unrelated fields such as biology and microelectronics. Moreover, increased preferences of patients towards home healthcare monitoring to reduce the hospitals costs have consequently triggered the use of MEMS technology. Demand for miniaturized and portable devices from physicians has coerced the medical manufacturers to embed MEMS sensors in their devices. MEMS technology also helps in providing rapid and accurate diagnosis of diseases.
In addition, personalized medicine and implantable sensors, though in their nascent stage, have opened new avenues for MEMS manufacturing companies. Manufacturers of MEMS are increasingly collaborating with pharmaceutical, biotech and medical device companies to make highly advanced products, with the capability to provide accurate results and keep costs low.
The MEMS in medical applications can be segmented on the basis of their use in medical devices, diagnostic devices, therapeutics devices and surgical devices. The therapeutic devices market is foreseen to have the highest growth owing to rise in use of intrathecal pumps and other targeted drug delivery methods including insulin delivery pumps.
The MEMS sensors market in medical applications includes use of various sensors such as pressure, temperature, flow, accelerometers, optical and gyroscopes. The pressure sensors accounted to have the largest market of USD 486.0 million in 2012 and are expected to grow at CAGR of 18.7% from 2013 to 2019.
Geographically, North American region captures the largest market of MEMS in medical applications and was valued to be more thanUSD 800 million in 2012. However, Asian countries namely India and China are witnessing fast growth and are predicted to emerge as dominating markets in the near future owing to rise in awareness and increased disposable income in these nations.
The MEMS in medical applications market is highly fragmented and includes major players such as GE Sensing and Control, Honeywell, Freescale, Measurement Specialties Inc, Texas Instruments, STMicroelectronics and other regional and local players.
The MEMS in Medical Applications market is segmented as follows:
MEMS in Medical Applications Market, by Applications
MEMS in Medical Applications Market, by Type of Sensors
Optical Image Sensors
Micro dispensers for drug delivery
MEMS in Medical Applications Market, by End Users
MEMS in Medical Applications Market, by Geography
Rest of the World (RoW)
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