Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global medical micro-electro-mechanical systems (MEMS) market, by Sensor Type (Pressure Sensors, Microfluidic Device Sensors, Accelerometers, Gyroscopes, Optical Sensors, Microphones, and Others), By Application (Diagnostic Devices, Monitoring Devices, Surgical Devices, and Therapeutic Devices), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 4,710.4 million in 2019 and is projected to exhibit a CAGR of 18.5% over the forecast period (2019–2027).
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Growth of the global medical MEMS market is primarily attributed to research and development, innovation in the healthcare industry, and a shift in focus towards portable medical devices for personalized care. In July 2017, MEMSIC Inc. announced the introduction of MDP200 Bi-directional Differential Pressure Sensor in the healthcare sector.
Manufacturers are focusing on innovation and product launches to enter untapped markets. For instance, in June 2017, Omron Electronic Components BV upgraded its MEMS thermal sensing technology. This technology introduced the new Omron D6T-1A-02, a super-sensitive infrared temperature sensor designed to provide non-contact measurement of the surface temperature of objects. The DT6-1A-02 device comprises MEMS thermophile, a signal processing microprocessor, and a sensor application-specific integrated circuit (ASIC), enabling it to accurately measure surface temperature. It can measure surface temperature in the range of -40 up to +80°C with a resolution of 0.06 °C and an accuracy of +/-1.5 °C. In January 2017, the Integrated Sensing Systems introduced next-generation Mass Sense Liquid and Gas Density Meters and Liquid flow meter (LFM). LFM overcomes the drawbacks of low flow Coriolis meters, including low-density resolution, vibration sensitivity, high-pressure drop, and high zero flow instability.
Browse 27 Market Data Tables and 35 Figures spread through 160 Pages and in-depth TOC on Medical MEMS Market by Sensor Type (Pressure Sensors, Microfluidic Device Sensors, Accelerometers, Gyroscopes, Optical Sensors, Microphones, and Others), by Application (Diagnostic Devices, Monitoring Devices, Surgical Devices, and Therapeutic Devices), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2025
To know the latest trends and insights prevalent in the medical MEMS market PRESS RELEASE, click the link below: https://www.coherentmarketinsights.com/press-release/medical-mems-market-to-surpass-us-136-billion-threshold-by-2025-backed-by-product-innovation-and-strategic-collaborations-407
The healthcare industry is rapidly evolving, with several healthcare systems being integrated with advanced technology to deliver excellent care. In July 2017, Abbott and Bigfoot Biomedical entered into an agreement to develop and market diabetes management systems. Through this agreement, Abbott is expected to integrate its freestyle glucose sensing technology with the Bigfoot’s insulin delivery solutions in the U.S. Manufacturers are also collaborating to strengthen their product portfolio related to MEMS. For instance, in August 2017, Abbott Laboratories and North West London Pathology signed a service contract valued at US$ 252 million to supply analytical equipment and diagnostic product and services to Chelsea and Westminster NHS foundation trust, Hillingdon hospitals NHS foundation trust, and Imperial college healthcare HHS trust. The service contract is estimated to manage 26 million tests annually, accounting for 6 percent of the total pathology market in the U.K.
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Key Takeaways of the Market:
- The global medical MEMS market is expected to exhibit a CAGR of 18.5% over the forecast period (2019–2027), due to growing shift towards portable devices. The Asia Pacific region in the global medical MEMS market is expected to exhibit a high growth rate, in terms of value, over the forecast period.
- Among applications, the diagnostic devices segment is expected to exhibit a significant CAGR of 6%, owing to advantages of these devices such as high efficiency, efficacy, and real-time analysis of patients’ data
- The global medical MEMS market is characterized by geographical expansion in Asia Pacific, North America, and Europe, which is expected to generate higher market revenue due to increasing prevalence of lifestyle diseases
Major players operating in 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.
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