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The bio-mems devices market share is expected to increase by USD 4.97 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 16.96%.
This bio-mems devices market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers bio-mems devices market segmentations by product (implantable, injectables, and others) and geography (North America, Europe, Asia, and ROW). The bio-mems devices market report also offers information on several market vendors, including Amphenol Corp., Becton, Dickinson and Co., Bluechiip Ltd., Danaher Corp., Debiotech SA, Integrated Sensing Systems Inc., Koninklijke Philips NV, Medtronic Plc, PerkinElmer Inc., and Texas Instruments Inc. among others.
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The growth in the number of minimum invasive surgeries is notably driving the bio-mems devices market growth, although factors such as the high overall cost of production may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the bio-mems devices market. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Bio-MEMS Devices Market Driver
Growth in the number of minimum invasive surgeries is a major driver fueling the bio-mems devices market growth. An MIS is a safe, feasible, and patient-friendly method to perform an operation. The various medical procedures are performed via small cuts or incisions. Through these incisions, endoscopes are inserted to operate from within the body cavity. Some of the major benefits and features of MIS include improved cosmetic results, reduced pain during operations, and faster recovery rates after operations. As minimally invasive procedures advance, there is an increase in the demand for smaller and smarter tools and devices. This increase in demand for such devices will compel manufacturers to focus on implementing and adopting modern technologies and ideas for MIS applications; one of the key technologies that are being used is bio-MEMS. This technology can be used to design medical tools that are at a micron or nano-level. These tools can be used to provide individualized treatment for specific targets, reducing the chances of the ineffectiveness of the surgical procedure.
Key Bio-MEMS Devices Market Trend
Integrating nanotechnology with Bio-MEMS is a major trend influencing the bio-mems devices market growth. Nanotechnology is defined as the science of building devices at an atomic or nano-level. In the medical and agriculture industry, nanotechnology can be used for Molecular and cell biology, Nanobiotechnology, and Nano bioprocessing. The main reason for integrating nanotechnology with Bio-MEMS is that it allows a better understanding of biological mechanisms at a cellular level. Bio-NEMS have several features such as low power consumption and lower production costs due to their relatively small size. Bio-NEMS have a small size, usually less than 100nm in diameter, but have a large surface area. This makes them useful for devices such as accelerometers, drug delivery systems, energy harvesters, and gyroscopes. Although bio-NEMS are still in the research phase and have only been manufactured in low volumes, these components will change the medical and healthcare industry once they have been designed and manufactured in large volumes. Nanotechnology with Bio-MEMS will allow researchers to understand the nature of cellular interactions at a molecular level. Some potential future applications would be hybridized microarrays and nanopore sensors, which will have effective applications in understanding DNA sequencing and single-molecule sensing.
Key Bio-MEMS Devices Market Challenge
The high overall cost of production is a major hindrance to the bio-mems devices market growth. The need for smaller Bio-MEMS has become an absolute necessity but integrating these Bio-MEMS with features such as a power-efficient performance at lower production costs has become a challenging task for vendors. One of the biggest technical challenges that a vendor faces during the manufacturing of Bio-MEMS is the packaging process. bio-MEMS packaging is highly challenging as compared with IC packaging due to the extensive diversity of devices. These devices need to be in contact with the environment (which is mainly of a chemical nature), as well as be protected from the environment simultaneously. To overcome this, vendors need to focus on developing a specialized package, which is required to allow the device to meet the application requirements. However, specialized packaging will make the packaging activity one of the most expensive and time-consuming tasks during the Bio-MEMS manufacturing process. Hence, there has been a transition from wire-bonding to stacked die and 3D packaging techniques. The high cost of Bio-MEMS further becomes a major challenge to the market. Such issues inhibit the growth of the global bio-MEMS market.
This bio-mems devices market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global biomedical microelectromechanical systems (Bio-MEMS) devices market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the bio-mems devices market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the bio-mems devices market encompasses successful business strategies deployed by the key vendors. The bio-mems devices market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The bio-mems devices market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the bio-mems devices market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of healthcare equipment market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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