Global Micro-pumps Market Size, Share & Industry Trends Analysis Report By Product (Mechanical and Non-mechanical), By End User, By Application (Drug Delivery, In-Vitro Diagnostics, Medical Devices), By Regional Outlook and Forecast, 2022 - 2028
Special Offering: Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
Get in-depth analysis of the COVID-19 impact on the Micro-pumps Market
Market Report Description
The Global Micro-Pumps Market size is expected to reach $4.2 billion by 2028, rising at a market growth of 16.3% CAGR during the forecast period.
A small fluid delivery system called a micro pump creates flow at a constant pressure. Smaller than conventional pumps, micro pumps can transfer fluid with ease from one place to another. These tools make it easier to manipulate and regulate small fluid amounts. A different class of small pumps with functional dimensions in the micrometer range is known as a micro pump.
Micro pumps are used to regulate small amounts of fluid. Smaller pumps function differently than conventional pumps, such as centrifugal & axial pumps, and are more effective in the micrometer range. Small pumps are used for a variety of purposes, such as mixing a small number of fluids and transporting the liquid from one location to another, in addition to dispensing a precise dose of the medication. Both the micrometer range and microfluidic research use micro pumps. It is the most advanced micro - electromechanical system (MEMS) equipment and works differently from conventional pumps like centrifugal and axial pumps.
The rise of this lucrative market is mostly because of the expansion of the pharmaceutical industry, the expansion of life sciences R&D., the development & utilization of clinical trials, and the widespread application of micro-pump infusion therapy. With the aid of technique research, the availability of raw materials needed for production, and improvements in digital and electrical capabilities, Micro-pumps have developed over a very short period of time. The expansion of items in this category is also being fueled by a rise in the number of innovations in this product line.
Regular macroscopic pumps are downsized into micro pumps. These micro pumps or devices inside the pumps have dimensions in the micro range (1 x 10-6), which indicates that they are at least as small as a human hair strand in diameter (60 to 100 micrometers). A liquid or gas (fluid) is often moved from one point to another using micro pumps. Examples of contemporary applications for micro pumps include blood analyzers, inkjet printers, & implanted insulin delivery systems.
COVID-19 Impact Analysis
Due to restrictions in the supply chain, operations, & distribution, the market was affected by the outbreak of COVID-19 pandemic in the second & third quarters of 2020. Nevertheless, the market recovery was aided by the rising use of Micro-pumps in biomedical research throughout the pandemic period. Additionally, minimally invasive surgical procedures employ Micro-pumps. The market is anticipated to grow as a result of the increasing prevalence of chronic diseases like diabetes, cancer, & ischemic heart disease (IHD), as well as the growing elderly population.
Market Growth Factors
Numerous Uses For Drug Delivery
During the forecast period, it is anticipated that increasing consumer awareness of the value of regulated drug delivery would propel the micro-pump market's expansion. Chemical substances or medications must maintain a specific concentration in order to have the desired therapeutic effect. Intoxication may result from drug concentrations that are below or above the intended limits, among other undesirable effects. As a result of this, the frequency of doses, toxicity, & drug interactions must all be taken into consideration and tailored for each patient based on their ailment.
High Demand For Micropumps In The Medical Equipment Industry
Controlled drug release has been more difficult in the past few years due to an issue like releasing the proper amount of medications at the correct time with minimal amount of intrusion & increased demand for cutting-edge drug delivery systems. Long-term therapies, constrained therapeutic windows, intricately combined therapies, dosing schedules, & personalized dosing regimens are a few of the variables that provide a challenge to traditional drug delivery devices. These problems are being addressed through the development of micro-electro-mechanical systems (MEMS), which combine mechanical & electrical components.
Market Restraining Factors
The Risk Involved In Using Implantable Micropump Devices
The implantable pumps and catheter systems have been employed in intrathecal drug delivery systems (IDDS) to treat chronic pain. With the potential for patient-controlled bolus administration, IDDS is either a mechanical constant flow delivery system or electronically variable flow programmable device. Using an external programmer, battery-powered IDDS Micro-pumps enable noninvasive medication dose adjustments. Modern IDDS technologies support a variety of drugs. But the use of micro pumps is not as advantageous as it seems to be.
Based on the product, the micro pumps market is fragmented into mechanical & non-mechanical. In 2021, the mechanical Micro-pumps market segment dominated the micro pumps market by generating the highest revenue share. This can be ascribed to the Micro-Electro-Mechanical Systems' use of mechanical Micro-pumps (MEMS). These systems are relatively affordable, capable of monitoring diseases, simple to use, give rapid detection, & delivering medications.
On the basis of application, the micro pumps market is segmented into drug delivery, in-vitro diagnostics, medical devices & others. The in-vitro diagnostic segment procured a significant revenue share in the micro pumps market in 2021. This is because, the Micro-pumps are utilized for early illness detection, simpler monitoring, and greater customization. Additionally, there have been numerous advancements in wearable medical equipment that transfer micro fluids via Micro-pumps.
By end-use, the micro pumps market is classified into biotechnological & pharmaceutical companies; hospital & diagnostic centers, and academic & research institutes. In 2021, the biotechnological & pharmaceutical companies segment witnessed the maximum revenue share in the Micro-pumps market. This is because, such companies need Micro-pumps for biomedical research, infusion therapies & research therapies that includes vaccines. Further, the number of new drug approval has been grown. Thus, growth in R&D has resulted in high demand for micro pumps resulting in the market growth in this segment.
|Market size value in 2021||USD 1.5 Billion|
|Market size forecast in 2028||USD 4.2 Billion|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 16.3% from 2022 to 2028|
|Number of Pages||186|
|Number of Tables||349|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Product, Application, End-Use, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Australia, Singapore, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region-wise, the Micro-pumps market is analyzed across North America, Europe, Asia Pacific and LAMEA. North America region led the micro pumps market in 2021 with highest revenue share. A few factors propelling the growth of the market in the region are development including high purchasing power, significant government support for high-quality healthcare, the existence of high-quality infrastructure for clinical & laboratory research, and wide adoption of technologically advanced products.
Free Valuable Insights: Global Micro-pumps Market size to reach USD 4.2 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ingersroll Rand, Inc. (Gardner Denver), KNF Neuberger GmbH, Alldoo Micropump Co., Ltd., Xiamen AJK Technology Co. Ltd., TOPS Industry and Technology Co., Ltd., Servoflo Corporation, Cole-Parmer Instrument Company, LLC (Antylia Scientific) (GTCR LLC), World Precision Instruments, LLC, Takasago Electric, Inc., and Dolomite Microfluidics (Blacktrace group).
Scope of the Study
Market Segments Covered in the Report:
By End User
- Biotechnological & Pharmaceutical Companies
- Hospitals & Diagnostic Centers
- Academic & Research Institutes
- Drug Delivery
- In-vitro Diagnostics
- Medical Devices
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Ingersroll Rand, Inc. (Gardner Denver)
- KNF Neuberger GmbH
- Alldoo Micropump Co., Ltd.
- Xiamen AJK Technology Co. Ltd.
- TOPS Industry and Technology Co., Ltd.
- Servoflo Corporation
- Cole-Parmer Instrument Company, LLC (Antylia Scientific) (GTCR LLC)
- World Precision Instruments, LLC
- Takasago Electric, Inc.
- Dolomite Microfluidics (Blacktrace group)
Unique Offerings from KBV Research
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
What would be the size of the Micro-pumps Market by 2028?
The Micro-pumps Market size is projected to reach USD 4.2 billion by 2028.
What are the key driving factors and challenges in the Micro-pumps Market?
Numerous Uses For Drug Delivery are driving the market in coming years, however, The Risk Involved In Using Implantable Micropump Devices restraints the growth of the market.
What are the major top companies in the competitive landscape?
Ingersroll Rand, Inc. (Gardner Denver), KNF Neuberger GmbH, Alldoo Micropump Co., Ltd., Xiamen AJK Technology Co. Ltd., TOPS Industry and Technology Co., Ltd., Servoflo Corporation, Cole-Parmer Instrument Company, LLC (Antylia Scientific) (GTCR LLC), World Precision Instruments, LLC, Takasago Electric, Inc., and Dolomite Microfluidics (Blacktrace group).
At what CAGR is the Micro-pumps Market estimate to grow in the forecast period?
The expected CAGR of the Micro-pumps Market is 16.3% from 2022 to 2028.
Which segment shows a high revenue share of the Micro-pumps Market in 2021?
The Mechanical segment acquired maximum share revenue share in the Global Micro-pumps Market by Product in 2021 thereby, achieving a market value of $2.3 billion by 2028.
Which region dominated the Micro-pumps Market in 2021?
The North America market dominated the Global Micro-pumps Market by Region in 2021 thereby, achieving a market value of $1.9 billion by 2028.