Bio-MEMS Market to Grow at a CAGR of 6.5% by 2024, Focusing on Top Key Players – Becton, Dickinson and Company, Abbott, Medtronic, PerkinElmer, Teledyne DALSA, Baxter

The main objective of this report is to define, describe, and forecast the global “Bio-MEMS” market on the basis of types of applications, major sectors, deployment models, organization size, and regions. The report contains an analysis of the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze the micromarkets with respect to individual growth trends, prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments, including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the market. According to the report, the global bio-mems market is projected to grow at a CAGR of 21.2% over the forecast period of 2018-2024.

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MiCo BioMed to acquire Siloam Biosciences

IN May 2018, MiCo BioMed, a KONEX-listed company, announced that it would acquire a 100 percent stake in Siloam Biosciences Inc., a Cincinnati, Ohio-based medical device company.

Siloam Biosciences is a private medical device company engaged in research, development, production, and sales of diagnostic kits and equipment based on biomedical microelectromechanical systems (Bio-MEMS) platform. As a private firm, its shares are held by 19 shareholders.

Escalating usages of Bio-MEMS in surgical, diagnostic and therapeutic microsystems boost the demand of Bio-MEMS maket

Growing demand for artificial limbs is a key factor driving the demand of Bio-MEMS market. Moreover, development of patient monitoring equipment system and rising usages of Bio-MEMS in surgical, diagnostic and therapeutic microsystems are supporting factors augment the market growth. Additionally, it improves the drug delivery system with the utilization of nanotechnology and advances the treatment for cardiac diseases, this factor positively fuels the growth for the global BioMEMS market size over upcoming years. Besides, increasing mobile care applications and growing adoption of medical instruments is also likely to contribute appreciably to the demand growth. However, on the other side, long product development cycles and high R&D costs can slow down market growth. While the alliances between pharmaceutical and engineering companies may provide opportunities for further market growth through the development of innovative products.

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The Asia pacific region is anticipated to be fastest growing region for the Bio-MEMS market during forecast period

Geographically, the North America region provides a massive contribution towards the growth of the Bio-MEMS market.  Furthermore, the Strong establishment of a government for the development of healthcare infrastructure and high acceptance towards the adoption of advanced treatment techniques are some factors boosting the demand of Bio-MEMS market in North America region. Further, Asia Pacific region is expected to offer profitable opportunities in Bio-MEMS market as governments are focusing on improving healthcare facilities in the region.

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