Micropump Market By Type (Mechanical, Non Mechanical), By Material (Plastics and Composites, Ceramics, Metals), By Application (Drug delivery, In Vitro Diagnosis, Medical device, Others), By End User (Hospitals and Diagnostic Centers, Biotechnology and Pharmaceutical Companies, Academic and Research Institutes): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global micro pump market was valued at $1,653.7 million in 2021, and is projected to reach $7,395.5 million by 2031, registering a CAGR of 16.2% from 2022 to 2031. Micro pump is defined as a device that can control and manipulate small fluid volumes. It is a miniature fluid delivery device capable of generating flow at finite pressure loads. Micro pump contains a microfluidic system that generate flow of the fluid in the range of milliliters to microliters. Application of micro pump include drug delivery, biological detection, and cardiology system. Mechanical and non-mechanical micro pump are two subcategories of micro pump. Moving parts are present in mechanical micro pump, whereas are absent in non-mechanical micro pump. Micro pumps are also used for a variety of biomedical uses, including the transdermal delivery of insulin, artificial sphincter prostheses, blood-transporting antithrombogenic micro pump, and micro pump for the injection of glucose for diabetics.
The micro pump market is driven by increase in the awareness regarding controlled drug delivery, rise in number of in-vitro diagnostic test, rise in number of key players in field of manufacturing medical device. Moreover, micro pumps are used in controlled drug delivery in patients of chemotherapy and insulin therapy. Increase in number of chronic diseases such as cancer and diabetes, is anticipated to increase the demand of micro pump in biological application. Thus, this factor anticipated to drive the growth of micro pump market. Chemotherapy and insulin therapy use micropumps for controlled drug delivery. Thus, rise in number chronic diseases such as cancer, increase the demand for micro pump. For instance, according to World Health Organization (WHO), in 2020, approximately 2.26 million new breast cancer cases were diagnosed worldwide. Moreover, according to International Diabetes Federation (IDF), in 2021, approximately 537 million adults in the age group of 20-79 suffered from diabetes over the globe. The total number of people suffering from diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. In addition, rise in number of product launches and product approvals in the field of micro pump development is expected to drive the market growth. For instance, in November 2019, TTP Ventus Ltd., a micro pump manufacturing company, announced a launch of new micro pump such as HP Series and LT Series that deliver higher pressures, higher flow rates, and longer lifetimes for applications including medical diagnostics, microfluidics research, and therapeutic devices. This strategy helped the company to increase its sales. Moreover, numerous drug delivery application causes rise in the demand of micro pump in medical field. In addition, increase in number of research activities and rise in number of pharmaceutical and biotechnology companies further propel the demand of micro pump. Thus, these factors are anticipated to boost the growth of micro pump market. Moreover, micro pumps are also used in in-vitro diagnostic test. Furthermore, increase in number of infectious and chronic diseases cause rise in number of in-vitro diagnostic test. Thus, rise in number of in-vitro diagnostic test boosts the market growth. Moreover, rise in initiatives taken by government to develop healthcare infrastructure fuels the demand for micro pump usage in the medical industry. Thus, these factors are anticipated to fuel the growth of micro pump market.
Geriatric population is more susceptible to infectious diseases and chronic diseases. Rise geriatric population increases the demand for micro pump for infusion of controlled drug delivery. Thus, this factor contributes to drive the growth of micro pump market. In addition, Governments globally have increased the expenditure on the healthcare sector. For instance, according to the Centers for Medicare & Medicaid Services, the U.S. health care spending grew by 9.7% from 2020 to 2019, reaching $4.1 trillion ($12,530 per person). Similarly, as per the Office for National Statistics, total healthcare expenditure in the UK accounted for 12.8% of the gross domestic product (GDP) in 2020, compared to 10.2% in 2019. Furthermore, it has been estimated that approximately 30% of the healthcare expenditure is used in upgrading the healthcare infrastructure, especially medical equipment used at public health centers (hospitals). Hence, this rise in healthcare expenditure across the globe is expected to fuel the demand for micro pump application in different disease treatments, thereby boosting the market growth.
On the other hand, the strict laws pertaining to the usage of micro pump in human healthcare and high manufacturing cost of micro pump are anticipated to restrain the growth of the micro pump market.
The global micro pump market is segmented on the basis of type, material, application, end user and region. On the basis of type, the market is segmented into mechanical and non-mechanical. Mechanical segment further sub-categorized into piezoelectric micro pump, electrostatic micro pump, and electromagnetic micro pump. On the basis of material, the market is classified into plastics & composites, ceramics, and metals. On the basis of application, the market is classified into drug delivery, in-vitro diagnosis, medical device and others. Others include cell culture, tissue culture and drug dosing. On the basis of end user, the market is divided into hospitals & diagnostic, biotechnology & pharmaceutical companies, and academic & research institutes. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global micro pump market include ALLDOO Micro pump, Arcmed (Bio-Chem Fluidics), Bartels Mikrotechnik GmbH, Bürkert GmbH & Co. KG , Cole-Parmer India Pvt, Enomoto Micro Pump Mfg. Co., Fluigent, Idex, Sandur Fluid Controls PVT.LTD, Takako Industries, Takasago Electric, Inc., TCS micro pump, The Lee Company, Thomas, TOPS Industry & Technology Co., Ltd., TTP Ventus, and Xavitech.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the micro pump market analysis from 2021 to 2031 to identify the prevailing micro pump market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the micro pump market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global micro pump market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Mechanical
Type
Piezoelectric micropump
Electrostatic micropump
Electromagnetic micropump
Non Mechanical
By Material
Plastics and Composites
Ceramics
Metals
By Application
Medical device
Others
Drug delivery
In Vitro Diagnosis
By End User
Hospitals and Diagnostic Centers
Biotechnology and Pharmaceutical Companies
Academic and Research Institutes
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
ALLDOO Micropump Inc
Arcmed Co. Ltd.
Bartels Mikrotechnik Inc
Burkert GmbH and Co. KG
Cole Parmer India Pvt. Ltd.
Enomoto Micro Pump Mfg. Co
Fluigent Inc
IDEX Corporation
Sandur Fluid Controls PVT. LTD.
Takako Industries, Inc
Takasago Electric, Inc
TCS Micropump Ltd
The Lee Company, Inc.
Thomas
TOPS Industry and Technology Co., Ltd.
TTP Ventus Ltd
Xavitech Micropump AB
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