LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global Bio-MEMS devices market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global Bio-MEMS devices market will grow at a CAGR of over 20% during the forecast period. The growing geriatric population is a major factor driving the market’s growth.
The rising volume of the geriatric population will lead to an increase in medical services across the globe. After crossing a certain age, several health issues materialize. For instance, health conditions among the geriatric population result in immobility, mental instability, incontinence, and impaired intellect or memory. Such issues are related to the functional abilities, independence, and quality of life, which are of great concern to geriatricians and their patients. Over the last decade, the major focus was on geriatric medicine as it provides comfort and better medical services to geriatric patients.
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In this report, Technavio highlights the integration of nanotechnology with Bio-MEMS as one of the key emerging trends driving the global Bio-MEMS devices market:
Integrating nanotechnology with Bio-MEMS
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 major reason behind integrating nanotechnology with Bio-MEMS is that it allows a better understanding of biological mechanisms at a cellular level. Owing to its small size, Bio-NEMS have several features such as low power consumption and lower production costs. Bio-NEMS size is usually less than 100nm in diameter, but have a large surface area which makes them useful for devices such as accelerometers, drug delivery systems, energy harvesters, and gyroscopes. Even though the bio-NEMS are in the research phase and have only been manufactured in low volumes, it is expected to change the medical and healthcare industry once they have been designed and manufactured in large volumes.
“Nanotechnology with Bio-MEMS will help researchers to understand the nature of cellular interactions at a molecular level. This will provide a breakthrough in several medical techniques such as DNA or microprotein arrays, enzyme-linked immuno-sorbent assay, and fluorescence resonance energy transfer-based analysis. These techniques will benefit greatly from the integration of nanotechnology with Bio-MEMS,” says a senior analyst at Technavio for research on embedded systems.
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Global Bio-MEMS devices market segmentation
This market research report segments the global Bio-MEMS devices market into the following products (implantable and injectables) and key regions (the Americas, APAC, and EMEA).
The implantable segment held the largest market share in 2017, accounting for nearly 80% of the market. The market share for this product is expected to increase nearly 6% by 2022. The injectables segment is also expected to register a growth of nearly 5% by 2022.
The Americas was the leading region for the global Bio-MEMS devices market in 2017, accounting for a market share of 53%. By 2022, the market share of the Americas is expected to decrease nearly 2%, and EMEA will witness a growth of more than 1%.
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