Global Micro Pump Market To Escalate With ~19 % CAGR; MRFR Unleashes Industry Prognostications Up To 2023

Micro Pump Market
Market research future published a cooked research report on Global Micro Pump Market. The Global Market Micro Pump Market is expected to reach USD 5.28 billion during the period 2016 to 2027. The Global Micro Pump Industry gaining further prominence will register a spectacular growth by 2023, posting a striking CAGR of 19.4% during 2017 – 2023.

The Global Micro Pump Market is led by some of the fervent players including Alldoo MicroPump (China), Advanced Microfluidics SA (Switzerland), Cole-Parmer Instrument Company, LLC (US), Dolomite Centre Ltd (UK), Biochem Fluidics (US), IDEX Corporation (US), Microfluidica LLC (US), KNF Neuberger Inc. (US), Takasago Electric, Inc. (Japan), Servoflo Corporation (US), World Precision Instruments (U.S.), TOPS Micro Pump Technology Company (China), and Xavitech (Sweden). Profiling them in its analysis, MRFR finds out their strategies keeping them at the forefront of competition.

Global Micro Pump Market – Overview

Micro-Pumps or Microfluidic pumps are used to control the flow of liquids and gases in many industrial processes. They are utilized in many industries such as textile printing, diesel engine emission control, pharmaceuticals and fuel additive injection among others. However, they are majorly used in the field of medical, pharmaceutical, biotechnology, and life sciences.

The ability of these pumps in providing a controlled flow of fluids & gas and controlled delivery of drug dosages into patients’ body, they perceive an augmenting demand & uptake in medical and pharmaceutical industry. This has further enabled improved healthcare management and better medical outcomes, resultantly, fostering the market growth of micro-pump, globally.

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Acknowledging the traction, this market is vibrating with currently; Market Research Future (MRFR) has recently published a study report giving out the complete market prognosis up till 2023. According to MRFR, the global Micro-Pump market gaining further prominence will register a spectacular growth by 2023, posting a striking CAGR of 19.4% during 2017 – 2023.

Factors such as augmenting demand for micro-pump technology across industries coupled with the ongoing product development & commercialization help boosting the market growth. Growing investments in R&D activities, life sciences, and pharmaceuticals, combined with the increasing demand for point of care testing is providing impetus to the market growth.

Burgeoning Pharmaceutical Industry backed by the demand for material mix changes and raising awareness towards the benefits of controlled drug delivery are some of the prominent factors fostering the market growth of Micro-Pump. Also, some new trends in micro-pump manufacturing coupled with the rising uptake of these pumps in biological sciences for their ability to fabricate high-performance microfluidic chips using PDMS with a limited number of reagents will drive the Micro-pump market during the review period.

On the other hand, specific factors such as regulatory issues along with the other subjects like surface chemistry and geometrical hurdles occurring during the manufacturing process, are impeding the market growth.

Global Micro-Pump Market – Competitive Landscape 

Players operating in the Global Micro-Pump Markets are focusing upon optimized situational awareness for commercial and military customers, ensuring their mission accomplished. The Market is highly competitive and diversified with the presence of players having the global presence.

These players make substantial investments in R&D, global expansion, advanced technologies and product Launch to gain competitive advantage and thus to sustain in the market.

These marketers strive to develop products with the adept technologies, unique design, and features. Players strive to develop a pump that is entirely on a different level compared to their competition. With the help of advance, technology manufacturers try to deliver Precision-crafted, long-wearing, reliable and precise Micro Pumps and magnetically-driven Micro Pumps. That are uniquely engineered to meet the world’s most challenging pump application requirements.

Industry/ Innovation/ Related News:

May 18, 2018 – Axolotl Biologix (US) A specialized provider for optimized regenerative medicine announced a strategic partnership with Leonhardt Ventures (US), a product invention development laboratory.  This partnership will allow the company to utilize some of Leonhardt’s expertise, such as bioelectric, mixed stem cell-based composition, and micro-pump combined with Axolotl’s amniotic-derived fluid products for organ regeneration.

Global Micro-Pump Market – Segmentation

MRFR has segmented the report into five key dynamics, for the convenience of the report and enhanced understanding.

By Product Type: Comprises Mechanical Micro Pump (piezoelectric micro pump, peristaltic pump, & syringe pump, others) and Non-Mechanical Micro Pump. 

By Material: Polymer, Silicon, and Glass, among others.

By Applications: Drugs Delivery Systems, In Vitro Diagnostic, and Medical Devices among others.

By End-Users: Biotechnology, Pharmaceutical Companies, Hospitals, Diagnostic Centers, and Research Institutes, among others.

By Regions:  North America, Europe, APAC and Rest of the World.

Segment – Non-mechanical Micropumps accounts for the fastest growing segment, expected to grow at 19.81% CAGR during the forecast period from 2017–2023.

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Global Micro Pump Market – Geographical Analysis

Globally, North America accounts for the dominating market for Micro-Pump, holding the largest market share. Europe accounts for the second-largest market. Asia Pacific market is expected to be one of the fastest growing markets for micro-pump.

North America is anticipated to reach USD 1419.5 million by the end of forecast period. Factors substantiating the regional market growth include the healthy economic condition, increasing investment in healthcare, and R&D activities for updating technology and others. Presence of numerous key players in the region, who have significantly upgraded their manufacturing capabilities and factories is also one of the key factor driving the market growth. 

The second-largest market for micro-pump, Europe is followed by the Asia Pacific market. Countries such as Germany which has the expertise of the microfluidic technology and the use of micro-pumps for various applications are contributing to the market growth.  Presence of the industry giants such as Dolomite Microfluidics in the region is playing a crucial role in the awareness about the use of the micro-pumping devices in the medical, diagnostic and pharmaceutical, among others. Also, the factors like huge population having the enormous amount of diagnostic and therapeutic requirements coupled with the drug discovery, development, and delivery services are fostering the growth of the micro-pump market in the European region.

Asia-Pacific is expected to register 19.5% CAGR during the forecast period. Owing to the overall increase in the clinical outcomes and patient requirements, backed by the availability of specific and sensitive diagnostic tests, and technologically advanced medical equipment and devices, especially in the countries such as India, China & Japan, the APAC market, has become an attractive market for medical device companies.

The Middle East & Africa own a tiny share in the global Micro-Pump market. The reason could be the least contribution, mainly from Africa due to the low per capita healthcare expenditure, poor economy, and stringent government policies.

The Middle East market of Micro-Pump, on the other hand, is witnessing a spurting growth owing to the proliferation of healthcare developments. Huge investments are being made in healthcare facilities. Favorable policies, initiatives, and funding by the government are playing a key role in the market growth.

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