Global Bio-MEMS Market Is Boosted By High Acceptance Of Superior Treatment Techniques
Global Bio-MEMS Market Report, published by Variant Market Research, forecast that the global market was valued at $813 million in 2016 and expected to reach $3,702 million by 2024; growing at a CAGR of 20.9% from 2016 to 2024. In geographical segments, North America and Asia Pacific anticipated to grow at a fastest CAGR of 21.7% and 21.2%, respectively, over the forecast period 2016 – 2024.
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Some of the major driving factors of global Bio-MEMS market are increasing demand for artificial limbs, and advancement of patient monitoring equipment system. Additionally, high efficacy, low cost, and increasing ageing population has also fuelled the market growth. Though, stringent rules and regulations by government may hamper the market growth. However, emergence of personalized medicines improvement would provide growth opportunities for the market during the forecast period 2016 - 2024.
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The global Bio-MEMS market is bifurcated into components, application, and geography. The components segment comprises accelerometers, gyroscopes, and others. Application segment includes neural implants, bionics, ENT implants, cardiological implants, and others. By components, the others segment accounted for the largest market share in 2016, and is expected to maintain its leading position during the forecast period 2016-2024. Accelerometers are anticipated to grow at the fastest CAGR during the forecast period. In application segment, neural implants are to achieve the fastest CAGR.
North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions of global Bio-MEMS market. North America accounted for the major market share in 2016, driven by high acceptance of superior treatment techniques in the region. North America is anticipated to grow at a fastest CAGR over the forecast period 2016-2024, owing to improved government’s consciousness about development of healthcare facilities in the region.
The major key players operating in the market comprises Abbott Laboratories, Boston Scientific, Perkin Elmer, Becton Dickinson, Medtronic, Baxter International Inc., Teledyne Dalsa Inc., Cepheid, Bluechiip, and Lepu Medical Technology among others.
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Geographical Segments
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o United Kingdom
o Spain
o Others
• Asia-Pacific
o China
o India
o Japan
o South Korea
o Others
• RoW
o South America
o Middle East
o Africa
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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