The global micropump market is poised for substantial growth, projected to reach a valuation of USD 12.8 billion by 2033, with a robust compound annual growth rate (CAGR) of 18.4%. This significant expansion is attributed to several market propellants driving innovation and demand across various sectors.
One of the key drivers fueling this growth is the continuous technological advancement in healthcare. As medical technology evolves, there is a growing demand for more sophisticated and precise drug delivery systems, which micropumps are uniquely positioned to fulfill.
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Furthermore, the escalating incidences of chronic and contagious diseases worldwide have underscored the critical need for efficient and targeted drug administration. Micropumps offer a viable solution by enabling controlled and precise delivery of medications, thereby enhancing treatment efficacy and patient outcomes.
The rise in investments in research and development activities is also contributing to the expansion of the micropump market. Companies are increasingly focusing on developing innovative micropump technologies to cater to the evolving needs of the medical equipment & devices, biotechnology, and pharmaceutical industries.
Additionally, the burgeoning medical equipment & devices, biotechnology, and pharmaceutical industry sectors are driving the demand for micropumps. These industries rely heavily on advanced drug delivery systems to enhance the effectiveness of treatments and improve patient care.
Moreover, there is a growing awareness among healthcare professionals and patients about the importance of controlled drug delivery. Micropumps offer precise control over dosage and timing, minimizing side effects and maximizing therapeutic benefits, thereby gaining traction in the healthcare landscape.
As the demand for micropumps continues to surge, manufacturers are poised to capitalize on this lucrative market opportunity by focusing on innovation, research, and strategic partnerships to meet the evolving needs of the healthcare industry.
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.
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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.
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
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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
About Future Market Insights (FMI)
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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