Point-of-care testing, pharmaceuticals, and life sciences are some of the main application fields for Micropump Market. Due to their use in mixing small amounts of fluids and moving small volumes of fluid from one location to another, micropumps are becoming more and more popular in the healthcare sector. Additionally, micropumps are employed in medical devices that assist in giving patients the correct dosage of drugs.
Because clinical tests are being used more frequently, micropumps are increasingly being used in home care equipment. For instance, infusion therapy for the treatment of cancer patients uses micropump. The micropump market is being stimulated by rising consumer knowledge of the value of controlled medication delivery in biochemical research as well as the prevalence of chronic and deadly diseases.
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By 2033, the market for micropumps is expected to reach a value of US$ 12.8 billion, growing at a CAGR of 18.4%. Here are a few market stimulants. The Micropump Market had a value of US$ 1.6 billion in 2021 and is anticipated to reach US$ 10 billion by 2032, growing at an astounding CAGR of 19% between 2022 and 2032.
The most common micropumps are mechanical. MEMS (Micro-Electro-Mechanical Systems) mechanical micropumps could be used to rationalise this. MEMS are employed in drug delivery system vehicles because they are simple to use, affordable, capable of tracking diseases, and also provide quick detection, allowing for swift machine delivery. Moving components included in mechanical micropumps include flaps, actuation, and microvalve membranes.
Non-mechanical micropumps, on the other hand, do have drawbacks, such as actuation methods that obstruct the pumping of liquids and the use of fluids with low conductivity. Growing biomedical applications including ‘Lab-on-Chip (LoC)’, ‘POCT’, and’micro-total analytic systems’ are anticipated to revolutionise the market’s expansion. Advanced biological sample processing, analysis, and modification are applications of LoC technology.
Key Takeaways from Micropump Market
North America holds more than 40% of the market share. This could be attributed to higher purchasing power of the US citizens, robust support from the government regarding quality healthcare, presence of top-notch infrastructure for laboratory and clinical research, and higher adoption of various technologically advanced products.
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The Asia-Pacific is expected to grow at the fastest rate in the micropump market due to upgradation in healthcare infrastructure all across India and China. Singapore and Malaysia are already doing well with respect to medical tourism.
Europe is expected to hold a significant market share with countries like Belgium, The Netherlands, and Denmark being at the forefront.
“Micropumps have evolved since the last few years through numerous techniques through advancements in electronic and digital capabilities”, says an analyst from Future Market Insights.
Competitive Micropumps:
- Bartels Mikrotechnik GmbH, in January 2022, tabled mp6 series. They comprise mp6-Liq, mp6-gas+, and mp6-gas.
- Sensile Medical AG (Gerresheimer’s subsidiary), September 2018, received EU certification. One of the European companies achieved CE declaration of conformity for micro-rotary pump used for treating advanced Parkinson’s disease.
- TTP Ventus, in June 2019, launched the LT series for serving applications while demanding operational life requirements all across medical, life science, environmental, and industrial sectors.
- Cole-Parmer India Pvt. Ltd., after successfully testing shear-sensitive and pumping live cells fluids, released the high-end micropump head series. They were named ‘Masterflex L/S Cytoflow Pump head”.
- Biochem Fluidics, in July 2017, released Maestro ULTRA piston pump, Perialistic Pumps, Opus Rocker Valves.
- Backtrace has its Dolomite Bio, which is known for specialization in microfluidic droplet applications that offer individual modules and microfluidic systems, reagents, and control software for applications pertaining to cell biology.
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The National Institute of Biomedical Imaging and Bioengineering, in October 2020, came up with Point-of-Care Technologies Research Network for driving development of the point-of-care technologies.
Medtronic, in March 2022, tabled MiniMed 780 G systems all across India.
What does the Report Cover?
Future Market Insights offers an exclusive perspective and various real-time insights on the micropump market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
List Encompassing Key Players Operating in Micropump Industry:
- LEE Ventus
- Sensile Medical
- Cole-Parmer India Pvt Ltd
- IDEX
- Dolomite Microfluidics
- The Lee Company
- Gardner Denver
- Takasago Electric, Inc.
- Halma Plc
- Servoflo Corporation
Key Segments:
By Product Type:
- Mechanical Micropump
- Piezoelectric Micropump
- Peristaltic Micropump
- Others
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By Application:
- Drug Delivery
- In-Vitro Diagnostics
- Medical Devices
- Others
By End User:
- Biotechnology & Pharmaceutical Companies
- Hospitals & Diagnostic Centres
- Academic & Research Institutes
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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