The need to improve patient monitoring and ensure accurate and quick diagnosis of diseases is predicted to fuel the demand in the global medical MEMS market. Increasing research and development of medical MEMS technology has resulted in the development of highly advanced and novel monitoring and diagnostic products. The integration of MEMS sensors in medical devices has increased due to the rising demand for miniaturized and portable healthcare products. The combination of MEMS and nanotechnology has created various applications such as microsystems for drug screening and selection, polymerase chain reaction, electroporation, and biochips.
Players to Launch New Products to Enter Untapped Markets
Some of the key players of the global medical MEMS market are Honeywell Sensing and Control, Abbott Laboratories, Flexpoint Sensor Systems, Analog Device Inc., GE measurement and control solutions, Omron Corporation, Integrated Sensing Systems, Memstech Bhd., and Agilent Technologies.
Companies are expected to focus on entering untapped markets with the help of reliable strategies such as new product launch and innovation. Agreements and partnerships could be other important strategies adopted in the global market.
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Abbott’s Confirm Rx ICM Offers More Accurate Detection of Heart Rhythm Disorders
US-based pharmaceutical and healthcare company, Abbott Laboratories is one of the major players operating in the global medical MEMS market. For the first quarter of 2019, it reported impressive organic sales growth of around 7% as well as a decent EPS result on the back of its key products, viz. MitraClip, Alinity, and FreeStyle Libre. In May 2019, it introduced Confirm Rx ICM, a next-gen detection technology, to offer a smarter approach to 24/7 heart monitoring for people with irregular heartbeats. The smartphone-compatible implantable heart monitor launched in Europe and the US helps to detect heart rhythm disorders more accurately.
By Sensor Type
- Pressure Sensors
- Microfluidic Device Sensors
- Optical Sensors
- Surgical Devices
- Monitoring and Diagnostic Devices
- Therapeutic Devices
By End Use
- Hospitals and Clinics
- Research Institutions
- Biotechnology Companies
High Focus on Portable Medical Devices for Home Care to Augment Demand
- Rising inclination toward portable medical devices for home care applications is anticipated to increase the growth of the global medical MEMS market
- Growing demand for artificial limbs could be another powerful factor pushing the global market growth
- Increase in research and development and growth of the aging population are foreseen to create opportunities in the global medical MEMS market
- High incidence of lifestyle-related diseases is expected to increase the demand for medical MEMS
- Players could gain from increasing awareness about medical MEMS-based products and high cost-effectiveness and efficacy of the medical MEMS technology
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