NEWARK, Del, Oct. 18, 2022 (GLOBE NEWSWIRE) -- The micropump market was worth US$ 1.6 Bn in the year 2021 and is expected to witness US$ 10 Bn by the year 2032 at a whopping CAGR of 19% between 2022 and 2032.
The major application areas of micropump include life sciences, pharmaceuticals, and point-of-care testing. The healthcare vertical is increasingly into micropumps due to usage in transportation of low fluids from one place to the other, and – not to forget – mixing petite quantities of fluids. Also, micropumps are being used in the medical devices that help in administering proper dosage of medications to patient.
Micropumps are also being used in the home care devices due to rapid adoption of clinical tests. For instance – micropump is used in infusion therapy for treating cancer patients. Increasing awareness amongst end-users regarding importance of drugs’ controlled delivery in biochemical research coupled with prevalent chronic and fatal diseases is a catalyst to the micropump market.
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Mechanical micropumps rule the market. This could be reasoned with using mechanical micropumps in MEMS (Micro-Electro-Mechanical Systems). MEMS are used in the drug delivery system vehicles, which are easy to operate, cheap, and capable of tracking diseases, and also providing fast detection, so as to facilitate quick delivery of machines. Mechanical micropumps constitute moving parts such as micro-valve membranes or actuation or flaps. On the other hand, non-mechanical micropumps do have limitations like actuation mechanisms that interfere with pumping liquids and usage of low conductivity fluids. Growing biomedical applications like ‘Lab-on-Chip (LoC)’, POCT, and micro-total analysis systems are expected to revolutionize the market’s growth. LoC technology’s applications include advanced biological sample processing, analysis, and manipulation.
High precision micropumps are useful in delivery of insulin for the diabetic patients and for chemotherapy with drug dosing for cancer-affected patients. However, the fact that micropump may face problems due to surface chemistry at the time of manufacturing can’t be ignored. It actually poses a challenge to micropump market. Future Market Insights has walked through these findings with insights in its latest market study entitled ‘Micropump Market’.
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 good 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.
What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the micropump market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on product type (mechanical micropump (piezoelectric micropump and peristaltic micropump) and others), by application (drug delivery, in-vitro diagnostics, medical devices, and others), and by end-user (biotechnology & pharmaceutical companies, hospitals & diagnostic centers, and academic research institutes).
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Key Segments
By Product Type:
- Mechanical Micropump
- Piezoelectric Micropump
- Peristaltic Micropump
- Others
By Application:
- Drug Delivery
- In-Vitro Diagnostics
- Medical Devices
- Others
By End User:
- Biotechnology & Pharmaceutical Companies
- Hospitals & Diagnostic Centres
- Academic & Research Institutes
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background and Foundation Data Points
4.1. Micropump Market, By Key Countries
4.2. Micropump Market Opportunity Assessment (US$ Mn)
Explore wide-ranging Coverage of FMI’s Healthcare Market Insights Landscape:
Next Generation Infusion Pump Market: The global next generation infusion pump market holds a forecasted share of US$ 5059.7 million in 2022 and is likely to surpass US$ 8509 million by 2032, moving ahead with a CAGR of 4.8% during the forecast period (2022-2032).
Implantable Infusion Pump Market: The global implantable infusion pump market is expected to reach a valuation of US$ 485.1 Million in 2022. Overall sales of implantable infusion pumps are projected to grow at a robust CAGR of 5.7% between 2022 and 2032, totaling around US$ 892.6 Million by the end of 2032.
Infusion Pumps Market: The global Infusion Pumps Market was valued at US$ 4.4 Bn in 2022 and is expected to reach US$ 6.6 Bn by 2030, finds Future Market Insights (FMI) in a recent market survey.
MRI-Compatible IV Infusion Pump Systems Market: The global MRI-compatible IV infusion pump systems market is expected to enjoy a valuation of US$ 234.8 Mn by the end of 2022, and further expand at a CAGR of 9.5% from 2022 and 2032 to reach a valuation of ~US$ 580.3 Mn by 2032.
Multichannel Infusion Pump Market: Multichannel infusion pump market can be of various different types such as dual channel, 3 channel, and 4 channel designs. These different types of multichannel infusion pumps are designed for the simple operation of many infusions on a single easy to use infusion pump.
About Future Market Insights, Inc.
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