Micropump Market

Micropump Market Research, 2031

The global micropump market size was valued at $1.65 billion in 2021, and is projected to reach $7.40 billion by 2031, growing at a CAGR of 16.2% from 2022 to 2031.Micro pumps are devices that can control and manipulate small fluid volumes. Smaller than ordinary pumps, micro pumps are capable of moving fluid effortlessly from one location to another.  The study estimates revenue generated from sales of micro pump products. They are used in medicine for a variety of purposes, including blood transportation through artificial hearts, transdermal insulin delivery, hormone treatment, managing pain and wound care, and injecting medications and glucose. There are two types of micro pump, mechanical micro pump and non-mechanical micro pump. There are three types of mechanical micro pump piezoelectric micro pump, electrostatic micro pump, electromagnetic micro pump. Materials used to manufacture micro pump are plastics & composites, ceramics, and metals. Applications of micro pump include drug delivery, in-vitro diagnosis, medical device and others. Others include cell culturing, and drug dosing. End users of micro pump are hospitals & diagnostic centers, biotechnology & pharmaceutical companies, and academic & research institutes.

The COVID-19 outbreak is anticipated to have a positive impact on growth of the global micro pump market. Increase in expenditure by government and private organization for treatment of COVID-19 anticipated to fuel the growth of micro pump market. Micro pump has been used during COVID-19 pandemic for treatment and investigation purpose. Moreover, micro pumps are also used for manufacturing of vaccine, which fuels the demand for micro pump in biotechnology company. Moreover, there has been an increase in the demand for medical supplies to take care of the infected population, which contributes to drive the growth of the micro pump market.

Growth of the global micropump market size is majorly driven by rise in chronic diseases such as cancer and diabetes, technological advancement in healthcare sector and rise in awareness regarding controlled drug delivery. For instance, micro pumps are required for controlled drug delivery, in diabetes mellitus for insulin therapy. Micropump market analysis also involve the micropump which are used for accurate and controlled administration of insulin in insulin therapy. Thus, rise in number of diabetes patients is anticipated to fuel the growth of micropump market. For instance, according to International Diabetes Federation, in 2021, 90 million population was suffering from diabetes in Southeast Asia. In addition, according to International Diabetes Federation, in 2021, 206 million people were suffering from diabetes in Western Pacific. Moreover, number of adults with diabetes is expected to reach 113 million by 2030 and 151 million by 2045.

Advancement in the technology for micro pump is anticipated to fuel the micropump market trends. Increase in number of new high technology micro pump boosts the micropump market growth For instance, in February 2022, TTP Ventus, micro pump manufacturing company, announced the launch of smart pump module (SPM-041). The SPM-041 is a combination of micropump with drive electronics and pressure sensing in a tightly-integrated package. Moreover, in May 2021, TTP Ventus, micro pump manufacturing company, announced the launch of UltraSlim pump. It is a micropump that includes integrated filter axial airflow path through the pump. This development aims to decrease the space require while integrating the pump within product. Moreover, in June 2019, TTP Ventus, micro pump manufacturing company, announced the launch of its latest product line, the LT Series. The new pump products have been developed to serve applications with demanding operational life requirements across the life science, medical industrial and environmental sectors. This product launch helped the company in enhancing its overall product range.

Moreover, rise in adoption of key strategies such as collaboration, acquisition, partnership and agreement by micropump industry to develop new technology of micro pump anticipated to fuel the market growth. For instance, TTP Ventus, a micro pump manufacturing company and Shanghai FuAn Biomechatronics Corporation, a leading provider of fluidics components including valve, sensors and conventional pump technologies, announced agreement for distribution of piezoelectric micropump to Chinese and Taiwanese medical and life science market. On the other hand, 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 micropump market.  

Micro Pump Market Segmentation

The micropump market is segmented into type, material, application and end user. On the basis of type, the market is segmented into mechanical and non-mechanical. The mechanical segment is 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 bifurcated 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.

Segment Review

The mechanical segment dominated the market in 2021, and is expected to continue this trend during the micropump market forecast period, owing to technological advancement in manufacturing of mechanical micro pump, availability of different micro pump and rise in the use of mechanical microscope in micro-electro-mechanical systems (MEMS) which is used in drug delivery.

The plastic & material segment dominated the market in 2021, and is expected to continue this trend throughout the forecast period, owing to increase in use of plastic & composites in mechanical micro pump technological advancement in the field of healthcare sector that cause rise in demand for high-quality micro pump. 

The drug delivery segment dominated the market in 2021, and is expected to continue this trend throughout the forecast period, owing to numerous drug delivery application, increase in awareness regarding controlled drug delivery and rise in number of chronic diseases such as cancer and diabetes. However, the in-vitro segment is expected to witness considerable growth during the forecast period, owing to increase in number of in-vitro diagnostic test, rise in the application of micro pump in diagnostic test and increase in number of infectious and chronic diseases. 

The hospital & diagnostic centers segment dominated the market in 2021, and is expected to continue this trend throughout the forecast period, owing to rise in number of hospitals, increase in expenditure by government to develop healthcare infrastructure and rise in number of chronic diseases. However, the biotechnology & pharmaceutical segment is expected to witness considerable growth during the forecast period, owing to numerous drug delivery applications of micro pump in pharmaceutical industry and rise in number of research activity in biotechnology companies.

The North America market was dominant, in terms of revenue among other regions in 2021, owing to increase in number of research activities, technological advancement in the healthcare sector and rise in the prevalence of chronic diseases. On the other hand, Asia-Pacific was the second-largest contributor in the market in 2021, and is expected to register fastest CAGR during the forecast period, owing to rise in expenditure by government organization to develop healthcare sector, increase in prevalence of chronic diseases and rise in the number of key players who manufacture micro pump.

Some of the major companies that operate in the global micropump market share 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, 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 micropump market opportunity.
• 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.

 Micropump Market Report Highlights