Report : Micropump Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Mechanical Micropump, Syringe Pump, Piezoelectric Micropump, Peristaltic Pump, Non-Mechanical Micropump); Material (Silicon, Polymer, Glass); Application (Medical Equipment & Devices, Clinical & Analytical Lab, Pharmaceuticals, Biotechnology, Others); End-User (Hospitals & Diagnostic Centers, Biotechnology & Pharmaceutical Companies, Academic & Research Institutes), and Geography
Non-mechanical micropump Segment to Grow at Highest CAGR During 2021–2028
According to our new research study on “Micropump Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by product type, material, application, end-user,” the market is expected to reach US$ 5,172.86 million by 2028 from US$ 1,553.01 million in 2021. A non-mechanical micropump employs forces directly on a liquid and have a limited flow rate, slower response compared to mechanical micropumps. However, they have shown to be very useful in drug delivery applications owing to their low power consumption. Non-mechanical micropumps are commonly used in micro devices because they can take advantage of physical properties of fluids when the volumes decrease to the micro-size and smaller.
The micropump market, by product type is segmented into mechanical micropump, syringe pump, piezoelectric micropump, peristaltic pump, and non-mechanical micropump. The mechanical micropump segment held the largest share of the market in 2021, however the non-mechanical micropump segment is anticipated to register the highest CAGR of 19.7% in the market during the forecast period.
Micropump market based on material is segmented into silicon, polymer, glass. In 2021, the silicon segment is likely to hold the largest share of the market, however polymer segment is expected to grow at the fastest rate during the coming years.
The micropump market by application, is segmented into medical equipment & devices, clinical & analytical lab, pharmaceuticals, biotechnology, and others. The medical equipment & devices segment is likely to hold the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 19.5% of the market during the forecast period.
The micropump market by end user, is segmented into hospitals & diagnostic centers, biotechnology & pharmaceutical companies, and academic & research institutes. The hospitals & diagnostic centers segment is likely to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR of 19.3% of the market during the forecast period.
Advanced Microfluidics, Microfluidica, LLC, Alldoo Micropump Co.,Ltd, Servoflo Corporation, TOPS INDUSTRY AND TECHNOLOGY CO. LTD, World Precision Instruments, Xavitech, Calon Cardio-Technology Ltd, Takasago Electric, Inc., Medtronic amongst others. The companies are adopting inorganic and organic growth strategies to expand their global footprints and product portfolio to meet the rising demands for the Micropump. For instance, in Jan 2021, Medtronic has begun clinical studies for its 780G pump. The 780G is an advanced hybrid closed-loop system that employs a new algorithm that brings it one step closer to a genuine closed-loop automated insulin pump system, according to the manufacturer (artificial pancreas).