A dependable Micro Pump Market report gives information about company profile, product specifications, capacity, production value, and market shares for each company for the year 2023 to 2030 under the competitive analysis study. Under market segmentation, research and analysis is done based on several market and industry segments such as application, vertical, deployment model, end user, and geography. The report focuses on many aspects related to Micro Pump Market industry and market. Some of these strategies are new product launches, expansions, agreements, partnerships, joint ventures, and acquisitions. Before presenting Micro Pump Marketing report to the end users, all the information is assessed and validated by the expert team members.
A high quality Micro Pump Market report is structured with full commitment and transparency in research about Micro Pump Market industry. The report presents with the CAGR value fluctuations for the specific forecasted period which helps decide costing and investment strategies. In this competitive market place, businesses are always in struggle to seek better solutions in terms of product trends, future products, marketing strategy, future events, actions or behaviours. This market analysis offers an examination of various segments that are relied upon to witness the quickest development amid the estimated forecast frame. All the statistical data and information involved in the large scale Micro Pump Market report is characterized properly by using several charts, graphs or tables.
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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.
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.
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 RD activities
According to the Congressional Budget Office's April 2021 report, the pharmaceutical industry spent USD 83 billion on RD in 2019. In addition, the number of new drug approvals increased by 60% between 2010 and 2019. As a result, increased RD 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.
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
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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Regional Analysis/Insights
- The Micro Pump Market is analyzed and market size insights and trends are provided by country, component, products, end use and application as referenced above.
- The countries covered in the Global Micro Pump Marketreportare 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 dominatesthe Micro Pump Market because of the region's high prevalence Micro Pump Market
- Asia-Pacific is expectedto witness significant growth during the forecast period of 2022 to 2029 due to the focus of various established market players to expand their presence and the rising number of surgeries in this particular region.
Why choose Data Bridge Market Research?
- Modern technologies, such as artificial intelligence, to provide updated industry growth.
- DBMR team provides clients with the top notch Micro Pump Market research report.
- Interaction with research scientists and development heads to understand the nature of the Micro Pump Market more precisely.
- 24/7 availability of services.
- Data collection from implementation vendors, service providers, and raw material suppliers to provide a clear perspective with Forecast period.
DBMR team uses very fair means to gather information that is scrutinized at every stage while structuring an influential Micro Pump Market size
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