June 13, 2018
WELLESLEY, Mass., June 13, 2018–Stringent automotive standards, government agency support and the need for better diagnostics are all helping to push growth in the global MEMs market, according to a report by BCC Research.
The global market is expected to see a compound annual growth rate (CAGR) of 11.8% through 2022, when it could be valued at $25.6 billion, according to the report MEMS: Biosensors and Nanosensors Market.
Major players in the market include Abbott Laboratories, Bio-Rad Laboratories, Cepheid Therapeutics, Denso, Fluidigm, GMA Industries, Illumina, Knowles, Lockheed Martin, Merck KGaA, Nanomix, Panasonic, Qualcomm Technologies, Robert Bosch, Sensata Technologies Holdings, TDK and Thermo Fisher Scientific.
“MEMS sensors will eventually replace bulky sensors and actuators as this will reduce costs, weight and volume as well as power consumption,” the report notes. “They will also simultaneously increase production volume, performance and functionality.”
Problems in Biochip Development Are Chief Market Restraints
Biochip development is plagued by a number of problems, the report notes. Chief among them is their inability to detect multiple types of proteins in a wide range of concentrations, as well as a low conversion rate in drug discovery due to a lack of effective clinical validation, standardization and approval hurdles. Cost is another restraint, the report adds, with cost-cutting measures reducing the accuracy and reproducibility as the diagnostic procedure is automated and simplified.
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MEMS: Biosensors and Nanosensors Market( IAS027E )
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