by Microelectromechanical systems (MEMS) are proving transformational in healthcare through the miniaturization of devices and components. MEMS utilizes microfabrication techniques to develop microscopic devices that integrate mechanical, electrical, chemical and optical components creating microsensors and microactuators. These systems sense physical or chemical conditions and effect change on a microscopic scale for applications ranging from medical diagnostic tools to surgical robotics.
MEMS devices allow for more precise monitoring of patient health through miniature, non-invasive sensors that track vital signs, biological parameters and diagnose conditions. BioMEMS have enabled innovative diagnostic tools like glucose monitoring implants, miniaturized ultrasound and endoscopy devices. Nanomedicine leverages the manipulation of individual atoms and molecules for targeted drug delivery, tissue regeneration and combating drug resistance. Products in the MEMS market include surgical equipment microsensors, lab-on-a-chip diagnostics, implantable drug delivery pumps and microfluidic lab automation tools. The miniaturization achievable through MEMS reduces manufacturing costs, improves portability and allows for continuous monitoring abilities.
The global Mems Market is estimated to be valued at Us$ 27,946.62 Mn in 2023 and is expected to exhibit a CAGR Of 3.1% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends driving growth in the MEMS market is the increasing demand for portable and wearable medical devices. Miniaturized sensors and components enabled by MEMS allow for medical-grade vital signs monitoring, continuous glucose tracking implants and microcameras ingestible for endoscopy – all without bulky equipment. This has huge potential in remote patient monitoring,consumer healthcare and precision diagnosis. Another trend is the integration of MEMS with Lab-on-a-Chip technologies which offer automated, low-cost and rapid diagnostics at the point-of-care. Combining microfluidics, sensing and analytics on a single microchip can enable fast testing outside of centralized labs with just microliters of sample. This decentralization of healthcare using MEMS and microsystems has massive market potential.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the MEMS market is moderate as it requires high initial investments and strong technological capabilities to compete with established players.
Bargaining power of buyers: The bargaining power of buyers in the MEMS market is high as there are many established players providing similar products. Buyers can negotiate on prices easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have a concentration in the market. Suppliers also need to adhere to strict manufacturing standards.
Threat of new substitutes: The threat of substitutes is low as MEMS offer unique features that cannot be replicated by alternatives.
Competitive rivalry: The competitive rivalry in the MEMS market is high owing to the presence of many global and regional players competing on product quality, features, and pricing.
Key Takeaways
The Global Microelectromechanical Systems (MEMS) Market Demand is expected to witness high growth. The global MEMS Market is estimated to be valued at US$ 27,946.62 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030.
The Asia Pacific region dominated the market in 2023, accounting for around 45% of the global share. Factors such as growing medical device industry and rising disposable income supported market growth in the region. Advancements in manufacturing infrastructure will further aid regional market expansion.
Key players
Key players operating in the Microelectromechanical Systems (MEMS) market are Coltene Holding, Mocom, Dentsply Sirona, Euronda, W&H Dentalwerk, Midmark Corporation, Getinge AB, Tuttnauer, Shinva Medical Instrument Co. Ltd., and MELAG Medizintechnik GmbH & Co. KG, among others. Coltene Holding offers more than 10,000 dental consumable products across major categories. Mocom offers sterilization equipment like sterilizers and washer disinfectors used in dental practices and hospitals.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
