BioMEMS Advances in Endocrinology and Cardiovascular
Applications Spur Commercialization and Market Growth
New York City, NY -- In 2004, the world market for bioMEMS
is expected to exceed $14.3 billion with the US market accounting for
nearly 31% of the total. This includes research funding and commercial
developments within the markets for implants, such as pacemakers and pulse
generators for gastrointestinal conditions; sensors for neurological applications;
diagnostic devices such lab-on-a-chip; and treatment equipment such as
the smart pill which delivers drugs as necessary and in hyper-accurate
dosages.
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BioMEMS
FACTS |
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• In 2002, diabetes cost the Inted States $132
million.
• In the US, there are approximately 12.1 million
diagnosed with diabetes.
• BioMEMS lab-on-a-chip applications present
the strongest growing market segment at 21% annual growth.
• According to the World Health Organization,
16.6 million people die of cardiovascular disease each year.
• Cardivascular disease costs the United States
over $30 million each year in unnecessary expenses |
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BioMEMS device development is being strongly pursued in the areas of
cardiovascular and endocrine science to treat conditions including vascular
disease, coronary disease, and diabetes. These conditions create a biomedical
market, including products, treatment services and administration, of
approximately $415.0 billion dollars a year in the United States, according
to the American Heart Association and the American Diabetes Association.
Unnecessary costs, due to improper/delayed diagnosis, treatment necessitated
by poor monitoring, and resultant healthcare expenses, exceed $150 billion
each year, and many of these costs can be eliminated by devices allowing
for immediate diagnosis and constant monitoring and treatment.
Cardiovascular and endocrine applications currently comprise over 30%
of the enormous bioMEMS market potential, and devices being developed
and commercialized include pacemakers, microneedle & reservoir drug
delivery systems, and lab-on-a-chip diagnostics.
Currently, research activities continue to exceed commercialization by
a factor of nearly 15:1. However, major corporations within the pharmaceutical
(e.g., Johnson & Johnson), biotech and semiconductor fabrication (e.g.,
ST Microelectronics) markets are investing significant resources in bringing
bioMEMS products to market quickly. Thus, mass commercialization is expected
within the next three to five years.
This information is based on the research
report entitled BioMEMS—Assessment of Technologies, Devices &
Commercial Opportunities: 2005-2010 Analysis & Forecasts published
in March 2005.
To
get more information on ordering this report contact Dedalus Consulting
by email at info@dedalusconsulting.com or
call us at (718) 622-0830.
