The global micropump market is on track for a remarkable surge, with a projected market valuation of US 12.8 billion by 2033. This significant growth, driven by a compound annual growth rate (CAGR) of 18.4%, signifies the increasing adoption of micropumps across various industries.
Micropumps: A Boon for Diverse Sectors
Micropumps are making waves in biotechnology & pharmaceuticals, hospitals & diagnostics, and academic & research institutions. Their contribution to a wide range of applications is fueling their widespread use. In particular, micropumps play a critical role in hormone treatment, pain and wound-care management, and the precise injection of medications like insulin and glucose. The rising demand for these applications is expected to propel the micropump industry forward.
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Advanced Therapies and Miniaturization Drive Market Growth:
The development of novel cancer therapies that require advanced micropump sets is a significant driver of this growth. Furthermore, the evolving healthcare landscape with its emphasis on precision medicine is pushing the market further.
MEMS Technology: Powering Micropumps
Advancements in microelectromechanical systems (MEMS) technology are another key factor propelling the market. MEMS-based micropumps offer distinct advantages – lower power consumption, smaller size, and enhanced reliability – making them ideal for applications with space and power limitations.
Micropumps: A Boon for Microfluidics and Diagnostics
The microfluidics and lab-on-a-chip industries are also significantly contributing to the demand for micropumps. These pumps enable precise handling and manipulation of minute fluid volumes for research and diagnostics, leading to faster and more accurate analysis.
Environmental Monitoring and Point-of-Care Diagnostics: New Frontiers
The growing focus on environmental monitoring and point-of-care diagnostics is expected to further propel the micropump market. Micropumps’ ability to deliver small quantities of reagents and samples with minimal waste makes them invaluable in these applications, where efficiency and resource conservation are crucial.
This highlights the promising future of the micropump market, driven by its expanding role in various sectors.
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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.
- 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.
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.
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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
Market Segments Covered in Micropump Industry Analysis:
By Product Type:
- Mechanical Micropump
- Piezoelectric Micropump
- Peristaltic Micropump
- Others
- Non-mechanical Micropump
By Application:
- Drug Delivery
- In-vitro Diagnostics
- Medical Devices
- Others
By End User:
- Biotechnology & Pharmaceutical Companies
- Hospitals & Diagnostic Centers
- Academic & Research Institutes
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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