Micro Pump Market Size, Share, Growth Analysis, By Product Type(Mechanical Micro Pump, Piezoelectric Micro Pump, Syringe Pump, Peristaltic Pump), By Material(Polymer, Glass, and Silicon), By Application(Drug Delivery Systems, Medical Device, and In-Vitro Diagnostics), By End-User(Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostic Centres, and Research Institutes), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Micro Pump Market?

Global Micro Pump Market size was valued at USD 1.88 Billion in 2022 and is poised to grow from USD 2.21 Billion in 2023 to USD 7.96 Billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).

Q: What is the key market trend for Global Micro Pump Market?

Rise in the R&D Activities According to an April 2021 report by the Congressional Budget Office, the pharmaceutical industry spent $83 billion on R&D in 2019. In addition, the number of new drug approvals increased by 60% from 2010 to 2019 resulted in increased R&D demand for micropumps and biochemicals. It helps companies to gain market share. The hospitals and nursing facilities are expected to drive the market growth during the forecast period owing to the increasing use of micro pumps in nursing facilities, dialysis devices and glucose monitoring devices in diabetes patients.

Report ID: SQMIG35A2888 | Region: Global | Published Date: May, 2024
Pages: 219 | Tables: 119 | Figures: 74

Micro Pump Market Regional Insights

North America dominates the global micro pump market and holds the largest sales percentage of 49.4% in 2021. High buying strength, sturdy government help for healthcare and high adoption of technologically advanced merchandise are several of the reasons driving marketplace progress. Furthermore, the upward thrust of the nearby marketplace has been aided by using multiplied authorities guide for scientific gadgets and their approvals in this area.

Asia Pacific is the fastest growing region in the market. Asia Pacific is projected to be the quickest-developing marketplace over the forecast period attributable to its increasing best healthcare infrastructure. In 2017-18, India spent 0.7 percent of its GDP on studies and development, in comparison to 2.1 percent in China, 0.8 percentage in South Africa, 1.3 percent in Brazil, and 1.1 percent in Russia.

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Micro Pump Market size was valued at USD 1.88 Billion in 2022 and is poised to grow from USD 2.21 Billion in 2023 to USD 7.96 Billion by 2031, growing at a CAGR of 17.4% in the forecast period (2024-2031).

MicroPumpTech’s miniature pump can be incorporated into MedDeviceCo’s insulin pumps to provide more accurate and efficient insulin delivery. The two companies can work together to develop new medical devices that leverage MicroPumpTech’s micropump technology. By combining their expertise and resources, they can accelerate the development process and bring new products to the market faster. MedDeviceCo can use its extensive distribution network and market presence to promote and distribute MicroPumpTech’s micropump technology to a wider customer base. This partnership will enable MicroPumpTech to better reach new markets and customers. 'Bartels Mikrotechnik GmbH (Germany)', 'Gardner Denver (U.S.)', 'Takako Industries, INC. (Japan)', 'Fluigent (France)', 'IDEX (U.S.)', 'KNF Group (U.S.)', 'MICROFLUIDICA (U.S.)', 'Servoflo (U.S.)', 'Advanced Microfluidics (Switzerland)', 'ALLDOO MicroPump (China)', 'Biochem Fluidics (U.S.)', 'Cole-Parmer Instrument Company, LLC. (U.S.)', 'Dolomite Centre (U.K.)', 'Takasago Electric Inc. (Japan)', 'TOPS Micro Pump (China)', 'World Precision Instruments (U.S.)', 'Xavitech (Sweden)'

Controlled drug release has become increasingly difficult in recent years due to issues such as releasing the right amount of drug at the right time with minimal dilution and the stability of drug delivery systems. Due to increasing experimentation with integrated devices and electrical components, to overcome these issues Micro-electromechanical systems (MEMS) are being developed. These are just some of the factors driving the market growth.

Rise in the R&D Activities: According to an April 2021 report by the Congressional Budget Office, the pharmaceutical industry spent $83 billion on R&D in 2019. In addition, the number of new drug approvals increased by 60% from 2010 to 2019 resulted in increased R&D demand for micropumps and biochemicals. It helps companies to gain market share. The hospitals and nursing facilities are expected to drive the market growth during the forecast period owing to the increasing use of micro pumps in nursing facilities, dialysis devices and glucose monitoring devices in diabetes patients.

North America dominates the micro pump market and holds the largest sales percentage of 49.4% in 2021. High buying strength, sturdy government help for healthcare and high adoption of technologically advanced merchandise are several of the reasons driving marketplace progress. Furthermore, the upward thrust of the nearby marketplace has been aided by using multiplied authorities guide for scientific gadgets and their approvals in this area.

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Micro Pump Market Regional Insights

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