Press release
Microscopic Mechanisms: Micropump Market Expansion Set to Surpass US$ 12.8 Billion by 2033 | FMI
Micropump Market
One of the key drivers of the micropump market is the rising need for portable and wearable medical devices. These pumps are essential in administering precise doses of medications and fluids to patients, enhancing treatment efficacy and patient comfort. Additionally, the growing adoption of micropumps in drug delivery systems is revolutionizing the pharmaceutical industry, enabling targeted and controlled drug release, reducing side effects, and improving therapeutic outcomes.
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The market for micropumps is anticipated to reach US$ 12.8 billion by 2033, expanding at a CAGR of 18.4%. A few market movers are listed below. The Micropump Market has a value of US$ 1.6 billion in 2021 and is projected to rise at an astonishing CAGR of 19% between 2022 and 2032 to reach US$ 10 billion.
Furthermore, advancements in microelectromechanical systems (MEMS) technology have played a pivotal role in driving the growth of the micropump market. MEMS-based micropumps offer reduced power consumption, smaller form factors, and higher reliability, making them ideal for various applications where space and power constraints are critical.
The microfluidics and lab-on-a-chip industries are also driving the demand for micropumps. These pumps enable precise handling and manipulation of small volumes of fluids in research and diagnostic processes, facilitating rapid and accurate analysis.
As the focus on environmental monitoring and point-of-care diagnostics increases, the micropump market is expected to witness further expansion. The ability of micropumps to deliver small quantities of reagents and samples with minimal wastage makes them invaluable in environmental monitoring devices and point-of-care diagnostic systems, where efficiency and resource conservation are paramount.
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.
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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 well 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.
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.
List Encompassing Key Players Operating in Micropump Industry:
• LEE Ventus
• Sensile Medical
• Cole-Parmer India Pvt Ltd
• IDEX
• Dolomite Microfluidics
• The Lee Company
• Gardner Denver
• Takasago Electric, Inc.
• Halma Plc
• Servoflo Corporation
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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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/micropump-market
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