Micropump Market to Grow at a CAGR of 18.8% to reach US$ 5,172.86 million from 2021 to 2028

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.

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Micropump Market: Strategic Insights

Micropump Market

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  CAGR (2021 - 2028)

  18.8%
• Market Size 2021
  US$ 1.55 Billion
• Market Size 2028
  US$ 5.17 Billion

Market Dynamics

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• 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

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

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

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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.

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.

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.

Micropump Market Report Scope

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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

• 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