Market Overview:
MEMS for Therapeutic Market Size Was Valued at USD 8.34 Billion in 2022 and is Projected to Reach USD 21.86 Billion by 2030, Growing at a CAGR of 12.8 % From 2023-2030.
The origins of MEMS technologies can be traced back to 1954 when Smith published a paper entitled "Piezoresistive effects in silicon and germanium" in the international journal "Physical Review". Since then, advancements in technologies opened doors for the development of MEMS for healthcare needs. In medicine, therapeutics is related to the care of the patient and includes preventing as well as managing disease or disease-specific problems. Microtechnology and MEMS (microelectromechanical systems) have transformed and in the upcoming future will continue to revolutionize therapeutic medicine as more technological advances are made.
Many companies have launched micro-sized devices that have sensors and are utilized to monitor pressure, temperature, and oxygenation levels. Several companies have started working on new devices to change the therapeutic procedure. A narrow therapeutic window is the main challenge to the conventional drug release system and this can be overcome by employing MEMS therapeutic solutions. For instance, several studies are being carried out to check the potential of MEMS sensors in continuous glucose monitoring systems. The growing awareness about the benefits of MEMS in therapeutics is propelling the expansion of MEMS for the therapeutics market over the forecast period.
Top Key Players Covered in The MEMS for Therapeutic Market:
- Honeywell (USA)
- Royal Philips (Netherlands)
- Texas Instruments (USA)
- STMicroelectronics (Netherlands)
- General Electric Company (USA)
- Debiotech (Switzerland)
- Agilent Technologies (USA)
- Omron Corporation (Japan) and Other Major Players
Market Dynamics and Factors:
Increasing applications of MEMS devices in healthcare and the growth in the personal healthcare market including wireless implants are driving the expansion of the market during the forecast period. The rise in the awareness and affordability of healthcare services has further propelled the demand for MEMS devices in the medical industry. Early detection and treatment of disease are paramount for improving human health and wellness. MEMS devices enable new opportunities for the quick, cost-effective, and precise detection of abnormal biological states that can detect the early onset of disease. MEMS devices can function at a scale more sensitive to numerous biological processes.
MEMS for therapeutics are mostly sensors that can be employed inside or on the human body to monitor the functioning of vital organs. Implantable biomedical MEMS devices are incorporated to detect the presence of disease-specific biomarkers. On the body, devices gather and process information. Combination devices detect, monitor, and manage the disease. Bio-sensing is a vast concept that includes disease diagnosis to provide physicians with valuable data, regarding blood oxygen levels, and intraocular or aortic pressure. MEMS for therapeutic sensors are a lab-on-chip concept. Moreover, MEMS medical sensors have given rise to microfluidics-it is a study of the behavior of fluids through micro-channels, and the technology of manufacturing microminiaturized devices to detect the presence of harmful microorganisms. High costs involved during the research and development of new MEMS devices for therapeutic usage, and the expensive upfront cost required for the fabrication of cleanrooms and foundry facilities are the vital factors that will hamper the growth of the MEMS for the therapeutic market over the forecast period. Moreover, the cost of a single unit is very high and if they are utilized for niche applications, the desired outcome can't be achieved. Developing countries lack the expertise and superior infrastructure to support the growth of the MEMS for the therapeutic market.
The MEMS for Therapeutic Market Report Highlight:
- By type, the microfluidics segment is forecasted to have the highest share of the MEMS therapeutic market attributed to the development of microfluidic devices that are small in size and are termed as "lab on chip" systems. Microfluidics devices include microneedles, microchannels, and micro-pumps. Microneedles have several therapeutic applications. They can be employed for transdermal fluid sampling, delivery of vaccines, and drug delivery. The microneedles can be utilized along with microchannels, micro-pumps, and sensors.
- By end-users, the home healthcare segment is projected to dominate the MEMS for therapeutic market in the forecast period. The rise in the number of individuals suffering from diabetes, cardiovascular, and hypertension is the main cause supporting the usage of MEMS devices in the home healthcare segment. MEMS technology has revolutionized the diagnosing and therapeutic procedures of several diseases.
- By Region, The North American region is anticipated to have the highest share of MEMS for the therapeutic market throughout the forecast. The early adoption of emerging technologies and the presence of prominent manufacturers of MEMS medical devices are the main factors supporting the growth of the market in this region. The growing healthcare awareness and the increasing prevalence of chronic diseases have stimulated the adoption rate of MEMS-based wearable devices. The growing prevalence of chronic diseases is fueling the growth of MEMS for the therapeutic market in this region.
Key Industry Development:
- In November 2023, Roche, a leading global healthcare company, unveiled the Accu-Chek Guide System, a groundbreaking smart insulin pen equipped with integrated Bluetooth connectivity, ushering in a new era of precision in diabetes management. This innovative device empowers individuals with diabetes to seamlessly track and share real-time insulin data with healthcare providers, fostering personalized treatment plans and enhancing overall patient outcomes.
- In June 2023, Abbott, a global healthcare company, has achieved a significant milestone with the FDA's approval of the CardioMEMSTM HF System, a cutting-edge miniaturized implantable hemodynamic monitoring device designed to revolutionize the management of heart failure patients. This innovative technology enables real-time monitoring
The MEMS for Therapeutic Market Segmentation:
By Type
- Pressure
- Temperature
- Microfluidics
- Others
By Application
- Hospitals
- Home Healthcare
- Research Centers
- Others
For this report, Introspective Market Research has segmented the MEMS For Therapeutic Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
