Micro Electrode Array Market Size, Share, and Industry Analysis, By Product Type (Single well-Micro Electrode Array, and Multiwell-Micro Electrode Array), By Technology (2D Micro Electrode Array /Planar and 3D Micro Electrode Array), By Application (Cardiology, Neurology, Oncology, and Others), By End-user (Pharmaceutical and Biotechnology Companies, Contract Research Organizations (CROs), Academic Institutes & Research Centers, and Others), and Regional Forecast, 2025-2032

The global micro electrode array market is experiencing significant growth due to the increasing prevalence of neurological and cardiovascular conditions, which necessitates the use of MEA in research activities. In addition, advancements in neuroscience research and increasing funding and investment for biomedical research from private and government entities propels the market growth over the forecast period.

The micro electrode array (MEA), commonly referred to as multielectrode arrays, is utilized for monitoring extracellular electrical activity. When excitable cells such as neurons or cardiomyocytes are cultured on an MEA, microelectrodes detect their firing in real-time. This instrument can effortlessly and comprehensively measure electrical signals from many cells.

• For instance, in April 2024, the University of Hawaii revealed that it had received USD 58.0 million in federal biomedical research grants from the National Institutes of Health (NIH) for the fiscal year (FY) 2023.

Substantial funds are being invested by governments, philanthropic organizations, and private institutions in biomedical research, which directly benefits the MEA market, boosting both supply and demand.

Micro Electrode Array Market Driver

Rising Prevalence of Neurological Disorders to Propel Market Growth

The significant growth of the micro electrode array market is largely due to the increasing global prevalence of neurological diseases, such as Alzheimer’s and related dementia.

With the aging of global populations, diseases such as Alzheimer's, Parkinson's, and different types of dementia are increasing. MEAs are crucial in researching these disorders, grasping their development over time, and potentially discovering interventions to treat them.

• For instance, as per data provided by the World Health Organization (WHO) in March 2023, in 2023 there are over 55.0 million people across the world have dementia. As per the same source, every year, there would be nearly 10.0 million new cases of dementia.

According to estimated data provided by the Alzheimer's Association in 2024, the prevalence of Alzheimer’s disease is expected to increase from 2020 to 2060. In 2020, the prevalence of Alzheimer's disease was 1.9 million in people aged 65-74. Further, it is estimated that the prevalence of Alzheimer's disease will increase from 8.5 million in 2030 to 13.8 million in 2060 among the population aged above 85.

Micro Electrode Array Market Restraint

High Cost of Micro Electrode Array Systems May Limit Market Growth

One of the major restraints for the global micro electrode array market is the expensive nature of MEA systems. The market penetration of these advanced devices depends greatly on their affordability and availability. The upfront investment required to purchase micro electrode array systems, along with software and equipment costs, can be significant. This hinders the adoption of multi electrode array systems, particularly for universities or small research labs with constrained budgets, affecting the global market expansion.

• For instance, the Maestro Pro 768 channel MEA system with BioCore v4 developed by Axion BioSystems, Inc. costs around USD 228,247.6. These bands can be expensive and unaffordable for some of the start-up companies located in low-income countries.

Micro Electrode Array Market Opportunity

Emphasis on Organizing Webinars to Provide Knowledge Regarding the Usage of Micro Electro Array Systems Fuels its Adoption in Research Studies

Organizing webinars to provide knowledge regarding usage of micro electro array systems leading to increase adoption rates for research activities. Due to the technical complexity of micro electrode array systems, companies provide training sessions, workshops, and certifications. Organizing these webinars also raises awareness about various uses of micro electrode array systems. This helps increase product adoption and supports revenue generation.

• For example, in September 2022, the American Physiological Society organized a webinar series on the topic of “Cardiac Research Using Micro electrode Array Technology: Methodology Considerations and Best Practices to Optimize Recording.” The discussion included best practices to use with MEA recording and also provided examples of recording using cell culture, slice, and whole heart.

Segmentation

Key Insights

The report covers the following key insights:

• Prevalence of Cancer, By Key Countries/Region, 2022/2023
• Overview: Technological Advancements in Micro Electrode Arrays
• New Product Launches, By Key Players
• Key Industry Developments (Mergers, Acquisitions, Partnerships)
• Impact of COVID-19 on the Market

Analysis by Product Type

Based on product type, the multiwell-micro electrode array segment is anticipated to grow at a significant CAGR from 2024-2032.

The multiwell MEAs are designed for high-throughput studies, allowing simultaneous monitoring of multiple samples. The segment growth is mainly attributed to the fact that the majority of the market players are engaged in providing its multiwell MEA products through various distributors. Therefore, the increasing availability of multiwell MEA products in the majority of the countries is expected to drive segmental growth during the forecast period.

• For instance, in February 2021, Axion BioSystems, Inc. revealed Bioserve Biotechnologies Pvt Ltd (a subsidiary of REPROCELL) as the new distributor of its Maestro systems and consumables in India. The Maestro systems includes its multiwell MEAs named Maestro Pro and Maestro Edge. This strategy enhanced multiwell-MEA products availability in the market.

Analysis by Technology

Based on technology, the market is divided into 2D micro electrode array/planar and 3D micro electrode array.

The 3D micro electrode array segment is anticipated to grow at a notable CAGR from 2024-2032. The segment growth is primarily due to the involvement of some market players in creating awareness regarding 3D micro electrode arrays among scientists. The arrangement of webinars to create product awareness ultimately increases product sales, propelling segmental growth.

• For example, in January 2024, Multi Channel Systems MCS GmbH organized a webinar to create awareness of 3D mesh micro electrode arrays. During the event, insights were provided on the efficacy of 3D mesh MEA and its applications in clinical research.

Analysis by Application

By application, the market is divided into cardiology, neurology, oncology, and others.

The cardiology segment held a substantial market share in 2023 and is expected to grow at a significant CAGR during the forecast period. The segment growth is mainly attributed to the escalating prevalence of cardiovascular diseases across the world. In addition, the increasing focus of market players on heart function research and drug screening for cardiotoxicity is driving the segmental growth during the forecast period.

• For instance, as per data provided by the World Heart Report 2023, more than half a billion people worldwide were affected by cardiovascular diseases, which led to 20.5 million deaths in 2021.

Analysis by End-user

Based on end-user, the market is subdivided into pharmaceutical and biotechnology companies, contract research organizations (CROs), academic institutes & research centers, and others.

The pharmaceutical and biotechnology companies segment is expected to grow at a significant CAGR from 2024 to 2032. The segment growth is due to the rising research activities and increasing funding for pharmaceutical and biotechnological research.

• For example, in September 2023, the Union Health Minister of India, launched a USD 605.5 million scheme in India to promote R&D in the pharmaceuticals and medical technology sectors, including a program to fund more than USD 133.2 million in nine pharma companies for carrying out research in six priority areas in collaboration with academic institutes.

Regional Analysis

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Based on region, the market has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America accounted for a significant share of the global micro electrode array market in 2023 and is expected to grow at a substantial CAGR from 2024-2032. The regional growth is primarily due to the presence of its advanced research infrastructure and the presence of key MEA manufacturers and research institutes. In addition, the growing prevalence of cardiovascular diseases and neurological diseases is also driving the market growth during the forecast period.

• For example, as per data provided by the American Heart Association (AHA) in 2024, cardiovascular disease (CVD), listed as the underlying cause of death, accounted for 931,578 deaths in the U.S. in 2021. As per the same source, between 2017 and 2020, 127.9 million U.S. adults (48.6%) had some form of CVD.

The Asia Pacific accounted for a substantial market share in 2023 and is expected to grow at a considerable CAGR during the forecast period. Significant investments in healthcare infrastructure, increasing government funding for medical research, and rising focus of market players on providing micro electrode array systems for research purposes are some of the factors anticipated to drive market growth during the forecast period.

• For example, in June 2019, MaxWell Biosystems AG took part in the Innosuisse Market Entry Camp for China. The company arrived with its new product, MaxTwo, in China to create awareness of its product in the Chinese market.

Key Players Covered

The global micro electrode array market is semi-fragmented, with the presence of a few players accounting for a larger proportion.

The report includes the profiles of the following key players:

• 3Brain AG (Switzerland)
• Multi-Channel Systems MCS GmbH (Germany)
• Axion BioSystems, Inc., (U.S.)
• MaxWell Biosystems AG (Switzerland)
• MicroElectrodeDevices (U.S.)
• Microprobes for Life Science (U.S.)
• NMI Technologie Transfer GmbH (Germany)

Key Industry Developments

• In May 2023, NTT Corporation announced that it had succeeded in the long-term measurement of neural activity from a neural network of connected three-dimensional (3D) neuronal aggregates using NTT's original method for deforming planar graphene into 3D graphene.
• In October 2020, Neuroservice and MaxWell Biosystem entered into a partnership agreement to offer the pharmaceutical sector a cutting-edge CNS in vitro cell electrophysiological solution based on high-density microelectrode array recording of human iPSC-derived neurons and other neuron cultures.
• In August 2019, Axion BioSystems, Inc., a leading company in multiwell micro electrode array (MEA) systems, disclosed REPROCELL as the appointed distributor for their Maestro systems and consumables in Japan.