Global Micro Pump Market – Industry Trends and Forecast to 2030

 Micro Pump Market Analysis and Size

According to the 2018 National Health Interview Survey (NHIS), chronic diseases affect 51.8 percent of Americans yearly. As per the World Health Organization (WHO) report, approximately 235 million surgical procedures are performed worldwide each year. Surgeons in North America prefer minimally invasive surgical techniques because they cause less damage to human tissues. As a result, the global demand for micropumps is increasing. Some of the important factors considered for the industry's steady growth are the growing elderly population and the rising incidence of chronic diseases.

Data Bridge Market Research analyses that the micro pump market which was USD 5,389.30 million in 2022, is expected to reach USD 20120.69 million by 2030, at a CAGR of 17.9% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Micro Pump Market Scope and Segmentation

Market Definition

Micro pumps are medical devices that control and manipulate small volumes of fluid. Micro pumps have functional dimensions in the micrometer range and operate on a different principle than traditional pumps such as centrifugal and axial pumps. Apart from delivering precise medication dosages, micro pumps are used in a variety of applications such as mixing small amounts of fluids and transporting fluids from one location to another.

Global Micro Pump Market Dynamics

Drivers

• High demand for micropumps in the medical equipment industry

Controlled drug release has become more difficult in recent years due to issues such as releasing the appropriate amount of medications at the appropriate time with minimal intrusion and increased demand for cutting-edge drug delivery systems. Long-term therapies, constrained therapeutic windows, intricately combined treatments, dosing schedules, and personalized dosing regimens are just a few of the variables that put traditional drug delivery devices to the test. Micro-electro-mechanical systems (MEMS), which combine mechanical and electrical components, are being developed to address these issues. These are the certain factors which propel the growth of market.

• Numerous uses for drug delivery

Increasing consumer awareness of the value of regulated drug delivery is expected to drive the micro pump market's expansion during the forecast period. Chemical substances or medications must maintain a specific concentration to have the desired therapeutic effect. Intoxication can occur when drug concentrations are below or above the intended limits, among other things. As a result, the frequency of doses, toxicity, and drug interactions must all be considered and tailored for each patient based on their condition.

Opportunities

• Increased R&D activities

According to the Congressional Budget Office's April 2021 report, the pharmaceutical industry spent USD 83 billion on R&D in 2019. In addition, the number of new drug approvals increased by 60% between 2010 and 2019. As a result, increased R&D has resulted in increased demand for micro-Pumps, contributing to the market share of biotechnological and pharmaceutical companies. Hospitals and diagnostic centres are expected to drive market growth during the forecast period due to an increase in the use of micro-Pumps in point-of-care diagnosis, blood transport devices, and glucose monitoring devices in diabetes patients.

Restraints/Challenges

• Stringent regulations

The government's strict regulations on import and export impede the growth of the micro pump market. The surface chemistry and geometrical problems with micro pumps will also slow the market's expansion. In underdeveloped economies, a lack of knowledge about micro pumps will further impede market expansion.

This micro pump market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the micro pump market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Micro Pump Market

During the COVID-19 outbreak and subsequent lockdowns, the industrial sector experienced a significant drop in demand. Smaller players and organisations with weak financial positions shut down in 2020 and 2021, reducing total industrial manufacturing capacity and consolidating the consumer sectors. On the other hand, rising demand in the oil and gas industry has resulted in the development of numerous offshore deep water projects around the world. This will, in turn, drive the micro pump market during the forecast period. However, technological advancements in alternative conventional pump options, such as piezoelectric pumps, syringe pumps are expected to stymie the pump market during the forecast period.

Recent Developments

• In 2022, Medtronic launched its MiniMed 780 G systems in India. The system is part of a new Medtronic insulin pump portfolio that includes smartphone technology via Bluetooth connectivity.
• In 2022, The mp6 series of micro-pumps was introduced by Bartels Mikrotechnik GmbH, Inc. The mp6 series includes the mp6-Liq, mp6-gas, and mp6-gas+ models.
• In 2019, TTP Ventus introduced the HP Series, a new line of micropump pumps. These improved micropumps operate at higher pressures and flow rates, making them useful for medical diagnostics, microfluidic research, and therapeutic devices.

Global Micro Pump Market Scope

The micro pump market is segmented on the basis of product type, material, application and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Mechanical Micro Pump
• Piezoelectric Micro Pump
• Syringe Pump
• Peristaltic Pump
• Non-Mechanical Micro Pump

 Material

• Polymer
• Glass
• Silicon

 Application

• Drug Delivery Systems
• Medical Device
• In-Vitro Diagnostics

 End User

• Biotechnology and Pharmaceutical Companies
• Hospitals and Diagnostic Centres
• Research Institutes

Micro Pump Market Regional Analysis/Insights

The micro pump market is analyzed and market size insights and trends are provided by country, product type, material, application and end user as referenced above.

The countries covered in the micro pump market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the micro pump market because of the presence of major key players in the region.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to the increased spending on research and development activities, rising expenditure of healthcare infrastructure and increased health insurance penetration.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The micro pump market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for micro pump market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the micro pump market. The data is available for historic period 2011-2021.

Competitive Landscape and Micro Pump Market Share Analysis

The micro pump market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to micro pump market.

Some of the major players operating in the micro pump market are:

• 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)

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