Selbyville, Delaware, Oct. 25, 2022 (GLOBE NEWSWIRE) --
The micropumps market value is poised to surpass USD 8.5 billion by 2030, according to a new research report by Global Market Insights Inc.
The increasing utilization of micropumps in minimally invasive surgical procedures are expected to be among the major factors strengthening the industry landscape. Minimally invasive surgery involves one or more small incisions and are usually associated with fewer complications, lesser pain, and shorter hospital stays. Using micropumps in these surgeries helps generate and maintain a controlled microfluidic flow during the procedure.
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Increasing R&D initiatives to boost the adoption of non-mechanical micropumps
Non-mechanical micropump segment is predicted to drive lucrative growth in the forthcoming years. Non-mechanical micropumps are used in a broad spectrum of applications ranging from morphing mechanical structures to biomedical lab-on-a-chip systems. Researchers globally have been focusing on developing advanced pumping and pressurizing systems to ensure improved drug delivery, further supporting segment expansion.
Browse key industry insights spread across 170 pages with 206 market data tables & 13 figures & charts from the report, “Micropump Market Analysis By Product (Mechanical Micropumps {Piezoelectric Micropump & Peristaltic Pump}, Non-mechanical Micropumps), Application (Drug Delivery, In-vitro Diagnostics, Medical Devices), 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” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/micropump-market
Growing prevalence of chronic diseases to increase product demand in in-vitro diagnostic applications
in-vitro diagnostics segment is predicted to cross USD 1.5 billion by 2030. The surging incidences of contagious and chronic ailments are expected to drive segmental revenues. In addition, the rapid technological advancements leading to the integration of automated in-vitro diagnostic systems across healthcare settings to ensure precise, quick, and error-free diagnosis will open new growth avenues for the micropump industry.
Accelerating drug development to boost product adoption by biotechnology & pharmaceutical companies
The biotechnology & pharmaceutical companies segment held 34.5% business share in 2021. This is is attributed to the increasing utilization of micropumps in precise biopharmaceutical dispensing applications. The demand for micropumps has grown substantially among drug companies and medical equipment manufacturers. This, in turn, will create optimistic scenarios for the market in the foreseeable future.
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Rising healthcare expenditure to bolster product demand across Europe
Europe micropump market amassed over 27.5% revenue share in 2021. This is owing to rising adoption of minimally invasive drug delivery procedures and robust healthcare infrastructure. There is an increased cognizance of the benefits of microfluidic technology across the European region. This, alongside the growing utilization of micropumps in several diagnostic applications, will stimulate the industry outlook across Europe.
New product developments to strengthen the competitive landscape
Prominent companies partaking in the micropump market are Xavitech Micropumps, Sensile Medical (Gerresheimer AG), Antylia Scientific, Idex Corporation, Dolomite Microfluids (Blacktrace Holdings Ltd.), The Lee Company, Thomas Gardner Denver (Ingersoll Rand), Takasago Electric, Inc., Bio-chem Fluidics (Halma), Servoflo Corporation, and others.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
