Press release
The Micro Pump Market to be driven by pearls of innovation in the next 10 years
Micro pump refers to the pumps having functionality dimension in micro meter range. Micro pumps are specially used in microfluidic research and they are one of the most developed microelectromechanical system (MEMS) device. Micro pumps operates on different principle compared to existing traditional pumps including centrifugal and axial pumps.
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The Micro pump market across the globe is expected to show a substantial growth with a double digit increase in CAGR by the year 2019. There is a significant increase in the Micro pump market because of their improved accuracy, potential cost, size, reliability and robustness in comparison with the existing pumps.
The key drivers of micro pump market include improved accuracy compare to traditional pumps, less power consumption and their cost. Some of the factors restraining the market growth are complex design and small scale integration. Growing applications in biotechnology, micro chemical systems, chip integrated cooling system has introduced new opportunities in the micro pump market.
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The Micro pump market can be segmented into categories such as types, application and geography. By type the market can be segmented into mechanical and non-mechanical devices. By application the market can be segmented into biomedical pharmaceutical and drug delivery, environmental monitoring and security applications including others. The market is segmented geographically into Europe, North America, APAC and Rest of World (RoW).
Some of the key players in the Micro pump market are Xiamen AJK Technology Co. Ltd., Micropump Inc., ET technology Ltd., Xavitech AB and many more.
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