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
Publication Month: Aug 2021 | Report Code: TIPRE00007338 | No. of Pages: 201 | Category: Medical Device | Status: Published
The micropump market is expected to reach US$ 5,172.86 million in 2028 from as estimated value of US$ 1,553.01 million in 2021. The market is likely to grow with a CAGR of 18.8% from 2021-2028.
The scope of the Micropump market includes product type, material, application, end user, and region. Based on region, the Micropump market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the Micropump market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world. It also includes COVID–19 impact analysis across the regions.
Lucrative Regions for Micropump Market
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Market Insights
Increasing Demand for Micropumps in Medical Device Industry
In recent years, controlled release of drugs has posed numerous challenges such as the release of the suitable quantity of drugs at the right time with the least invasiveness and raised demand for advanced drug delivery devices. Some of the factors that challenge conventional drug delivery devices include long-term treatments, narrow therapeutic windows, complex dosing schedules, combined therapies, and individual dosing regimens. The emergence of micro-electro-mechanical systems (MEMS) that combine mechanical and electrical components is providing solution to overcome these drawbacks. The rising adoption of miniaturized medical devices has helped reshape the medical device industry. Owing to the rising healthcare costs and the shift to home-based outpatient care, the demand for smaller, lighter, and portable products has increased tremendously. Miniaturization of a medical device can be achieved in various ways—one of the most important is through micropumps. Micropumps are associated with lower production costs, fewer leaks, decreased power consumption, and increased accuracy owing to the controlled flow of fluids and delivery of drug dosage into the body. They can handle extremely small volumes of liquid efficiently. Micropumps are being developed for a variety of medical applications including transdermal insulin delivery, blood transportation through artificial hearts, injection of glucose and drugs, hormone treatment, and pain and wound-care management. Additionally, manufactures are releasing a wide range of micropumps to cater to the rising demand of medical device industry. For instance, in November 2019, TTP Ventus Ltd launched a new HP Series micropumps that delivers higher flow rates, and higher pressures. This has opened product innovation possibilities for applications including microfluidics research, medical diagnostics, therapeutic devices, and wearables. Moreover, micropumps are used for new medical applications. For instance, in September 2018, Sensile Medical received EU certification for its wearable micro pump designed for the treatment of Parkinson’s disease. The device is easy to use with features such as automatic filling with liquid medicine, color display, charging unit, and data storage help enhance therapy management.
Product Type-Based Insights
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.
Global Micropump Market, by Product Type– 2021 & 2028
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Material-Based Insights
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.
Application-Based Insights
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.
End User-Based Insights
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.
Strategic Insights
Inorganic strategies such as partnerships, and mergers and acquisitions are commonly adopted by companies to cater to changing customer demand and maintain their brand name across the world. Market players operating in the Micropump market also adopt organic strategies such as product launch and expansion to outstretch their footprint and product portfolio worldwide as well as to meet the growing demand.
By Product Type
- Mechanical Micropump
- Syringe Pump
- Piezoelectric Micropump
- Peristaltic Pump
- Non-Mechanical Micropump
By Material
- Silicon
- Polymer
- Glass
By Application
- Medical Equipment & Devices
- Clinical & Analytical Lab
- Pharmaceuticals
- Biotechnology
- Others
By End User
- Hospitals & Diagnostic Centers
- Biotechnology & Pharmaceutical Companies
- Academic & Research Institutes
By Geography
By Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- 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
Frequently Asked Questions
The List of Companies - Micropump Market
- 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.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Micropump market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global Micropump market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
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