According to a recent study done by FMI, the Micropump market is expected to reach US$ 9.27 billion by 2032, up from US$ 1.6 billion in 2021, expanding at a high CAGR of 19%. This study explains how the micropump market is directly proportional to increasing technological advancements and rising demand for micropumps during care testing. The micropumps include micropump gj, micropump ga, etc.
The rising awareness and importance of controlled drug delivery are helping the market rise up. Also, increasing demand for miniatured medical devices is helping the global micropump market grow excessively.
The use of micropumps in nasal and pulmonary routes drug delivery is another driving factor for the global market as awareness also increases around control drug delivery in order to gain a positive impact. Micropumps like waterway micropump, cole parmer micropumps are used to help the accurate drug delivery processes.
The rising application of micropump in infusion therapy, added with its usage in biomedical research, is a significant factor that will help the global market thrive. For instance, a high-pressure micropump is used in biomedical research.
As Covid-19 has impacted the global market, micro-dosing pumps are used in the research and development programs, and its use in therapy is another reason for the increasing growth of the market.
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Key Takeaway
- The government research and development programs demand the most from the global micropump market. Huge investments are made in testing new healthcare drugs post covid-19 surge to eliminate the potential threat.
- The drug delivery applications help the market thrive as it requires micropumps in order to complete the processes. The use of micropumps such as vacuum micropumps servoflo micropump is common in drug delivery applications.
- North America region is the biggest market for the global micropump market as it will hold the largest portion of the market in the forecast period. The growth is owed and led by the use of micropumps in medical research.
- The global market is segmented by End-user, Application, and Product Type. These categories are further divided into small segments.
- On the basis of End-user, the performing segment is biotechnology and pharmaceuticals companies. The reason behind this growth is the huge government investments in R&D. Micropumps like piezoelectric micropump, idex micropump, or pump drives like micropump eagle drive are used in the R&D programs.
- On the basis of Application, the biggest segment is the in-vitro diagnostics is the performing segment as the IVF market is blooming sideways.
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Competitive Landscape
The global Micropump market is dominated by Sensile Medical, Cole-Parmer India Pvt ltd, IDEX, Dolomite Microfluidics, The Lee Company, Gardner Denver, Takasago Electric Inc, Hama Plc, and Servoflo Corporation. These companies are adopting new digital channels and processes to increase their stronghold in the Micropump market.
- TTP Ventus has introduced its new product line that is called the LT series. This includes pump products with advanced operational capabilities and ready for use in life sciences, medical, industrial research, and environmental sectors.
- TTP Ventus ltd. also has launched a new range of micropumps named HP series that deliver optimum performance in higher pressures, higher flow rates, and long life for advanced applications.
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