A new Technavio report offers BioMEMS and microsystems market segmentation by application (micro fluidics, microdispensers for drug delivery, flow meters, and others) and by geography (APAC, EMEA, and the Americas). Key leading vendors in this market include Bluechiip, Cepheid, Given Imaging, and Integrated Sensing Systems.
Technavio has added a new market research report on the global BioMEMS and microsystems market, to its hardware and semiconductor portfolio. Technavio’s market research analysts estimate this market to surpass US$ 7 billion by 2019 due to the growing preference for improved medical services from across the globe. The Americas dominate this market in terms of revenue because of the growing adoption of new technology by healthcare professionals in this region.
“Thanks to the ability of point-of-care (POC) diagnostics to deliver drugs using advanced techniques, it is not surprising that this mode of diagnosis is extensively used in developing countries where access to hospitals is limited and expensive. POC diagnosis is also useful in monitoring the immunodeficiency caused by HIV, and can also be used to monitor the efficacy of antiretroviral therapy. Additionally, this method’s ability to monitor diabetes and the release of drugs into the bloodstream will foster the prospects for growth in this market,” says Navin Rajendra, Lead Analyst, IT Hardware, Software, Services, Technavio Research.
An interesting market trend is the rise in popularity of the microfluidics segment, which analysts predict is going to grow due to its increasing applicability in the healthcare segment. Analysts envisage this segment to grow at an impressive rate of more than 26% during the forecast period. As microfluidics find extensive application in POC diagnosis, it is not surprising that this segment is estimated to surpass US$ 2 billion by 2019.
Global BioMEMS and microsystems market by microfluidics segment 2014-2019
Source: Technavio, 2015
Top vendors in this market are Bluechiip, Cepheid, Given Imaging, and Integrated Sensing Systems. This report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. There are many key drivers, challenges, and opportunities that are discussed in detail.
A more detailed analysis is available in the Technavio report, Global BioMEMS and Microsystem Market in Healthcare 2015-2019.
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