The Global Micropump Market accounted for US$1,465Mn in 2020 and is expected to reach US$5,847 Mn by 2028 with a considerable CAGR of 19.1% during the forecast period of 2021 to 2028.
Micropump is a device that is used to control or manipulate the delivery of small fluid volumes. Although the term "micropump" is sometimes used to refer to any small pump, a more precise definition limits this term to pumps with functional dimensions in the micrometer range. In addition to that, they operate on a different principle from standard pumps such as axial and centrifugal pumps. Micropumps are commonly used to transport liquids or gases (fluids) from one point to another. The increased interest in this revolutionary type of pump is fueled by its miniaturized overall size, prospective cost, and improved dosage accuracy when compared to conventional small pumps.
Market Growth Drivers:
Covid-19 Impact on the Global Micropump Industry
The micropumps business is dealing with a slew of issues brought on by the COVID-19 epidemic. The major businesses are attempting to reach clients through various channels, but they are encountering numerous challenges due to limited manufacturing and supply chain disruption induced by the pandemic. However, the sales of micropumps have also increased during the pandemic as these products were used in the emergency care devices such as ventilators. Then again, micro dosage pumps are used in studies on COVID-19 treatments and vaccinations. Thus, despite having issues with the supply chain, the key players have managed to recover their lag in sales as there was ease in lockdowns throughout the globe.
|Market Size 2020||US$1,465 Mn|
|Market Forecast 2028||US $5,847 Mn|
|CAGR||19.1% During 2021 - 2028|
|Analysis Period||2017 - 2028|
|Forecast Data||2021 - 2028|
|Segments Covered||By Product Type, By Material , By Application, By End-Use and By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||
World Precision Instruments, Micropump Inc. (IDEX Corporation), Calon Cardio-Technology Ltd, Bartels Mikrotechnik GmbH, Takako Industries, INC., Bürkert Fluid Control Systems, TOPS Industry & Technology Co., Ltd., The Lee Company, Xiamen AJK Technology Co., Ltd., Xavitech, ALLDOO Micropump,Servoflo Corporation,and Microfluidicaamong others.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
10 hrs of free customization and expert consultation
Factors such as improved accuracy compared to other pumps coupled with growing demand in precise drug delivery are fueling the global micropump market share. Micropumps are an essential drug delivery device, thus, they are commonly used for transdermal insulin delivery, anti-thrombogenic micropumps for blood transportation, artificial sphincter prosthesis, micropump for injection of glucose for diabetes patients, etc. In addition, other factors such as rising healthcare costs, growing trend for smaller and more portable products, and increasing inclination to home-based outpatient care have also driven the worldwide micropump industry growth.
Growth in a number of minimally invasive surgeries is one of the important micropump market trends. According to the World Health Organization (WHO), around 235 million major surgical procedures are performed worldwide each year. Surgeons in North America prefer minimally invasive surgical techniques because they reduce the amount of damage to human tissues. Thus, this aspect is strengthening the demand for micropumps across the world. The growing elderly population coupled with the rising incidence of chronic disorders are some of the important aspects that are considered for the stable growth of the industry. For instance, according to the 2018 National Health Interview Survey (NHIS), chronic diseases affect 51.8 percent of Americans every year.
Compliance with strict regulatory requirements and lack of awareness towards the use of micropumps in emerging countries are some of the aspects that are restricting the market to grow at a substantial rate. However, growth in research & development activities is likely to create numerous growth opportunities for the market during the forecast period 2021 – 2028. Furthermore, rising demand from point-of-care testing is also expected to generate countless growth prospects for the industry in the coming years. This is because micropumps act as a very important component in the point-of-care testing for pathogens such as MRSA or COVID-19.
The global micropumpindustry is segmented based on product type, material, application, end-user, and region.
Market by Product Type
In 2020, the mechanical micropump segment dominated the market with the majority of market share. Mechanical micropumps are miniature analogues of mechanical pumps used on a larger scale. They feature moving parts that raise the pressure in the fluid contained within the pump, causing the fluid to flow. The product’s main use is to provide insulin to diabetic individuals in order to control blood sugar levels. However, the non-mechanical micropumps are anticipated to attain the fastest growth during the review period 2021 – 2028. Non-mechanical micropumps are frequently used in personalized treatment and drug administration because of their simple and easy-to-use function.
Market by Material
In 2020, silicon material acquired a significant amount of share in the worldwide micropumps market. This is because the production of mechanical micropump technology now relies heavily on silicon-based micromachining methods. Furthermore, silicon micromachining has a number of advantages that make it easier for the technique to be used in high-performance applications, such as medication delivery.
Market by Application
Based on application, the drug delivery segment dominated the market with the largest shares and is likely to continue its dominance throughout the forecast period 2021 – 2028. However, the segment of the in-vitro diagnostics is expected to attain a substantial growth rate all over the review period. The mechanical and non-mechanical micropumps both find their use in in-vitro diagnostics applications, which drives the segmental growth throughout the forecast period.
Market by End-User
The hospitals & diagnostic centers were the highest revenue-generating segment in 2020. Widespread usage of micropumps in hospitals and diagnostic centers due to the increasing number of surgeries is expected to drive the segment demand in coming years. Additionally, the growing number of chronic disorders such as cancer, cardiovascular disease, etc. further escalates the demand for hospitals & diagnostic centers. For instance, scientists have designed an infusion micropump prototype device that is able to treat pediatric brain cancer.
Micropump Market Regional Overview
Middle East & Africa
North America acquired the largest share in the global Micropump market
Among all the regions, North America accumulated the largest chunk of the market in 2020. Primary factors such as the early adoption of advanced technologies, the presence of leading market players, and the presence of high-tech healthcare infrastructure are propelling the regional market growth. Europe, in addition, accounted for the second-largest shares in 2020 due to the upgraded delivery services, and presence of advanced healthcare facilities. Meanwhile, the APAC region is expected to attain the fastest growth rate during the forecast period. The high growth in the region is credited to the rising expenditure in R&D activities as well as growing spending in the healthcare infrastructure.
This section of the research identifies a number of significant market players. Some of the prominent vendors offered in the report include World Precision Instruments, Micropump Inc. (IDEX Corporation), Calon Cardio-Technology Ltd, Bartels Mikrotechnik GmbH, Takako Industries, INC., Bürkert Fluid Control Systems, TOPS Industry & Technology Co., Ltd., The Lee Company, Xiamen AJK Technology Co., Ltd., Xavitech, ALLDOO Micropump,Servoflo Corporation,and Microfluidicaamong others.
The estimated value of global Micropump Market in 2020 was accounted to be US$1,465Mn
The projected CAGR of Micropump market during the analysis period of 2021 to 2028 is 19.1%
The prominent players of the global Micropump Market involve World Precision Instruments, Micropump Inc. (IDEX Corporation), Calon Cardio-Technology Ltd, Bartels Mikrotechnik GmbH, Takako Industries, INC., Bürkert Fluid Control Systems, TOPS Industry & Technology Co., Ltd., The Lee Company, Xiamen AJK Technology Co., Ltd., Xavitech, ALLDOO Micropump, Servoflo Corporation, and Microfluidica and others
North America held the dominating share for Micropump during the analysis period of 2021 to 2028
Asia-Pacific region exhibited fastest growing CAGR for Micropump during the analysis period of 2021 to 2028
Increasing application of medical devices with precise drug delivery, growing demand in minimally invasive surgeries, and growing research & development activities are the prominent factors that fuel the growth of global Micropump Market
Based on product type, mechanical micropump segment held the maximum share for Micropump Market in 2020