Panasonic Corp plans to enter the microelectromechanical systems(MEMS) market and develop and commercialize MEMS sensors and devices from this year, the Nikkei business daily reported.
The company is looking to develop MEMS components for use in blood pressure sensors, micro pumps for measuring blood flow and bio-sensors for tracking changes in temperatures and enzymes, the paper said.
Panasonic has already been manufacturing MEMS parts for mobile phones and other consumer products and for its medical MEMS business, the company is considering expanding the scale of operations at Panasonic Electronic Devices Co.'s production base in Fukui Prefecture, the daily reported.
French market research firm Yole Development sees the medical MEMS parts market roughly tripling to $4.15 billion by 2015, the Nikkei said.
According to U.S. research firm IHS iSuppli Corp, the MEMS market shows growth worldwide, with the global MEMS market expected to be worth around $10.8 billion by 2014,which is a rise of 53 percent from 2010, the paper said.
(Reporting by Maneesha Tiwari in Bangalore; Editing by Joyjeet Das)