New York, US, May 23, 2022 (GLOBE NEWSWIRE) -- Micropump Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Micropump Market Information by Product Type, Material, Application, End User, and Region - Forecast till 2030, the market size is predicted to reach USD 7328.83 Million by the end of the year 2030 by registering a CAGR of 19.2% during the forecast period.
Market Synopsis:
A micropump is a small fluid delivery device that produces flow at a fixed pressure. Micropumps are smaller than traditional pumps and can easily move fluid from one location to another. These devices aid in the manipulation and control of small fluid volumes. Furthermore, a micropump is a separate type of small pump with functional dimensions in the micrometer range.
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Market Competitive Dynamics:
The market's leading players are concentrating on establishing cutting-edge infrastructure, which is critical for advancing micro pumping technology. Mergers and acquisitions, as well as the development of new products, are two of these important players' main strategies. The major players of the market are:
- Advanced Microfluidics SA
- Alldoo Micropump
- Bio-Chem Fluidics
- Cole-Parmer Instrument Company, LLC.
- Dolomite Centre Ltd
- DEX Corporation
- KNF Neuberger Inc.
- Microfluidica, LLC
- Servoflo Corporation
- Takasago Electric, Inc.
- TOPS Industry & Technology Co. Ltd.
- World Precision Instruments
- Xavitech
Market USP Covered:
Market Drivers:
The micropump market is growing in importance as a result of increased pharmaceutical prices, life science R&D investment, and point-of-care testing demand. The use of micropumps in the healthcare business is quickly rising as a result of their employment in a variety of applications such as moving fluids and carrying them from one location to another, as well as mixing small amounts of fluids. The micropump is a medical device that aids in the delivery of the correct dosage of medicine to the patient. The adoption of clinical tests and development has increased the role of micropump in care services, which is expected to raise demand for the micropump market. Another key reason driving the micropump industry is its widespread use in infusion treatment to treat cancer patients.
The combination of material developments is creating attractive chances for new key participants, which is driving up demand for micropump for care testing. The growing awareness of the need of regulated medication delivery and the usage of micropumps in biochemical research, as well as the rising prevalence of fatal and chronic diseases, are driving the global micro pup market forward.
Market Restraints:
Regulatory difficulties are the biggest hurdle in the micropump market, but the market also has to deal with geometrical issues and surface chemistry during the production process, which is a bigger problem.
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COVID-19 Evaluation:
Due to the emergence of covid 19, the micro pumps industry is being driven by rising healthcare expenses and a shift in outpatient care to the home. The micropump market is also growing due to a global desire for lighter, smaller, and suitable solutions for treating coronavirus-affected patients. However, due to the covid 19 epidemic, the micropumps sector is experiencing various challenges. Furthermore, micro dosage pumps are used in the development of COVID-19 treatments and vaccines. As a result, the COVID-19 pandemic had a major impact on the market.
Micropump Market Segmentation:
The market is segmented on the basis of the types, material, application, end-user, and region. The micropump market is expected to witness decent growth during the forecast period.
By Type
On the basis of types, the micropump market has been segmented into mechanical micropump, piezoelectric micropump, syringe pump, peristaltic pump, and non-mechanical micropump.
By Material
On the basis of materials, the micropump market has been segmented on the basis of gloss, polymer, and silicon.
By Application
Based on the application, the market is segmented into drug delivery systems, medical device, and in-vitro diagnostics.
By End-Users
Based on the propulsion types, the market is segmented into biotechnology and pharmaceutical companies, hospitals and diagnostic centers, and research institutes.
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Micropump Market Regional Analysis:
According to the research, the micropump market is segmented into four regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa.
Due to the presence of superior micro pump technology in this area, the Americas is expected to lead the micropump market throughout the forecast period. Apart from that, there are various other aspects driving the micropump industry forward, such as technological adoption. Because of financing supplied by governments in this region, North America is expected to have the greatest share of the micropump market, which is a critical element in the total industry's growth. Increasing health-care spending, the availability of high-quality infrastructure for clinical and laboratory research, and widespread use of technologically advanced products are just a few factors driving regional market growth. Furthermore, rising government financing for medical equipment in this region will help to expand the regional market.
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Due to the rise in population, which necessitates significant diagnosis and medical assistance, the European market is expected to hold the second-largest share in the micropump market. Furthermore, upgraded delivery services, developments, and drug discovery are the major factors driving the micropump market in this region.
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