According to a recent study by IMF, the micropump market is expected to reach US$9.27 billion by 2032, from US$1.6 billion in 2021, growing at a high CAGR of 19%. This study explains how the micropumps market is directly proportional to the increasing technological advancements and the growing demand for micropumps in healthcare testing. Micropumps include gj micropump, ga micropump, etc.
Rising awareness and importance of controlled drug delivery is helping the market grow. Additionally, the growing demand for miniature medical devices is contributing to the excessive growth of the global micropump market.
Another driving factor for the global market is the use of micropumps in nasal and pulmonary drug delivery as the awareness of controlling drug delivery is also increasing in order to achieve a positive impact. micropumps like waterway micropump, cole parmer micropumps are used to aid precise drug delivery processes.
The growing application of micropump in infusion therapy, added to its use in biomedical research, is an important factor that will help the global market flourish. For example, a high pressure micropump is used in biomedical research.
As Covid-19 has impacted the global market, micro dosing pumps are utilized in research and development programs, and its use in therapy is another reason for the increasing market growth.
Take away key
- Government research and development programs demand the most from the global micropump market. Huge investments are being made in testing new health drugs after the covid-19 surge to eliminate the potential threat.
- Drug delivery applications are helping the market flourish as it requires micropumps to complete the processes. The use of micropumps such as servoflo micropump vacuum micropumps is common in drug delivery applications.
- North America region is the largest market for the global micro pumps market as it will hold the major share of the market during the forecast period. Growth is driven and driven by the use of micropumps in medical research.
- The global market is segmented by end user, application and product type. These categories are further divided into smaller segments.
- On an end-user basis, the performing segment is biotech and pharmaceutical companies. The reason behind this growth is huge government investments in R&D. Micropumps such as the piezoelectric micropump, idex micropump or pump drives such as the eagle drive micropump are used in R&D programs.
- Based on application, the largest segment is in vitro diagnostics is the performing segment as the IVF market is booming.
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The global micropump market is dominated by Sensile Medical, Cole-Parmer India Pvt ltd, IDEX, Dolomite Microfluidics, The Lee Company, Gardner Denver, Takasago Electric Inc, Hama Plc, and Servoflo Corporation. These companies are adopting new digital channels and processes to strengthen their grip on the micropump market.
- TTP Ventus introduced its new product line called the LT series. This includes pumps with advanced operational capabilities ready for use in the life sciences, medical, industrial research and environmental sectors.
- TTP Ventus Ltd. also launched a new line of micropumps called the HP Series which offers optimum performance at higher pressures, higher flow rates and long life for advanced applications.
By product type:
- Mechanical micropump
- Piezoelectric micropump
- Peristaltic micropump
- Medication administration
- In-vitro diagnostics
- Medical equipement
Per end user:
- Biotechnology and pharmaceutical companies
- Hospitals and diagnostic centers
- Academic and research institutes
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
1.1. Global Market Outlook
1.2. Summary of statistics
1.3. Key Market Features and Attributes
1.4. Fact.MR Analysis and Recommendations
- Market overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
- Assessment of risks and market trends
3.1. Risk assessment
3.1.1. COVID-19 crisis and impact on demand for micropumps
3.1.2. Comparative analysis of the impact of COVID-19 with the previous crisis
3.1.3. Impact on market value (US$ millions)
3.1.4. Assessment by key countries
3.1.5. Assessment by key market segments
3.1.6. Action points and recommendation for suppliers
3.2. Key trends impacting the market
3.3. Formulation and product development trends
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Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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