Press release
Micropump Market Size, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast
The global Micropump Market is expected to reach US$ 5,172.86 million in 2028 from as estimated value of US$ 1,553.01 million in 2021. The market is likely to grow with a CAGR of 18.8% from 2021-2028.The growth of the market is due to increasing demand for micropumps in medical device industry, and improved accuracy compared to traditional drug delivery devices are boosting the micropump market growth. However, stringent medical device regulations are hindering the growth of market.
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Analysis of the Top Market Players:
1. Advanced Microfluidics
2. Microfluidica, LLC
3. Alldoo Micropump Co.,Ltd
4. Servoflo Corporation
5. TOPS INDUSTRY AND TECHNOLOGY CO. LTD
6. World Precision Instruments
7. Xavitech
8. Calon Cardio-Technology Ltd
9. Takasago Electric, Inc.
10. Medtronic.
In this report, the market has been segmented on the basis of:
Product Type (Mechanical Micropump, Syringe Pump, Piezoelectric Micropump, Peristaltic Pump, Non-Mechanical Micropump)
Material (Silicon, Polymer, Glass)
Application (Medical Equipment & Devices, Clinical & Analytical Lab, Pharmaceuticals, Biotechnology, Others)
End-User (Hospitals & Diagnostic Centers, Biotechnology & Pharmaceutical Companies, Academic & Research Institutes), and Geography
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Micropumps are small volume devices designed to transmit fluids with high precision. These pumps are used for numerous functions in the medical industry, such as preparing samples for medical diagnoses & therapeutics and dispensing precise dosages of medications. Micropumps are key components of microfluidic systems with applications ranging from biological fluid handling to microelectronic cooling. Their small size, potential cost, and improved dosing accuracy have led to increased adoption by medical device manufacturers
In the last few years, the pharmaceutical industry has witnessed the introduction of several innovative interventions for the treatment of several chronic diseases. However, most of the available treatment options require parenteral drug administration, frequent dosing, and repeated hospital visits. Treatment administration via parenteral route is associated with concerns such as dosing errors, microbial contamination risks, and needle stick injuries. These are found to be the primary factors affecting medication adherence, thereby impacting therapeutic outcomes. Over the years, several companies have developed advanced therapeutic delivery solutions to overcome the challenges associated with the administration of viscous and large molecule drugs.
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