Micropump Market Size By Product (Mechanical Micropumps {Piezoelectric Micropump & Peristaltic Pump}, Non-mechanical Micropumps), By Application (Drug Delivery, In-vitro Diagnostics, Medical Devices), By End-use (Biotechnology & Pharmaceutical Companies,

Micropump Market Size By Product (Mechanical Micropumps {Piezoelectric Micropump & Peristaltic Pump}, Non-mechanical Micropumps), By Application (Drug Delivery, In-vitro Diagnostics, Medical Devices), By End-use (Biotechnology & Pharmaceutical Companies, Hospitals & Diagnostic Centers, Academic & Research Institutes) Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2030

Global Micropump Market is set to gain significant momentum and garner sizeable revenues by 2030 owing to the burgeoning demand for micropumps in point-of-care testing. Practical micro pumping techniques for flow control are seen as a major technical hindrance in the development of microfluidic systems for point-of-care testing. The utilization of micropumps in POCT applications requires minimal testing supplies and specimens to complete diagnosis. Tests performed through these machines are relatively affordable, simple, and quick, as they efficiently reduce the turnaround time for test analysis.

Driven by these remarkable product attributes, behemoths in the micropump industry have been focusing on developing cutting-edge products to bridge the widening gap between consumer demand and supply. For instance, in October 2020, Sensirion, a premier company in flow and environmental sensors, collaborated with TTP Ventures Ltd. to develop a microfluidics driver with advanced capabilities. The system supports product development and laboratory prototyping for a broad spectrum of microfluidics applications, from analytical instruments and diagnostics to laboratory test systems.

The micropump market is categorized based on product, end-use, application, and region.

In terms of product, the non-mechanical micropump segment is poised to witness lucrative growth between 2022 and 2030. Non-mechanical micropumps do not have any moving parts and can benefit from some of the physical attributes of fluids when the volumes fall to the micro-size and are smaller. These systems are widely integrated across the microelectronics industry to improve the performance of microchips by reducing heat buildups. Besides, their growing utilization in consumer products, printing, and biomedical applications will propel the micropump market share by 2030.

With respect to the application, the drug delivery segment is predicted to amass a sizeable market share by 2030. The growing utilization of MEMS-based drug delivery systems for controlled drug delivery in several biomedical engineering applications may boost segment expansion in the coming years. The integration of advanced methods in drug delivery systems to enhance their safety and accuracy while minimizing their cost and energy requirements may drive industry trends in the approaching years.

Biotechnology & pharmaceutical companies are likely to emerge as major end-user by 2030. The increasing focus of several medical equipment manufacturers on developing cutting-edge drug delivery devices with improved precision and advanced functionalities will favor the market growth between 2022 and 2030. The escalating drug development projects and increasing adoption of micropumps in precise biopharmaceutical dispensing applications may create optimistic scenarios for the micropump industry.

Regionally, the Middle East & Africa micropump market size was valued at over USD 60 million in 2021 and is poised to depict a decent growth rate between 2022 and 2030. The proliferating trends for miniaturized medical devices may positively influence the regional landscape in the coming years. Additionally, the increasing rollouts of favorable government initiatives and rising healthcare spending will accelerate business growth across the MEA region.