The latest research report on the Micro-pumps Market delves into the growth opportunities and development trends that are expected to shape the market up until 2031. This report offers an in-depth analysis of the market’s driving factors and challenges, utilizing both qualitative and quantitative research methodologies. Through this report, businesses can gain valuable insights into the market landscape and make informed decisions about their strategies and potential areas of growth.
Global Micro-pumps Market is valued approximately USD 1.60 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 17.4% over the forecast period 2022-2028.
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What are Micro-pumps and their primary function?
Micropumps are tiny fluid volume control and manipulation devices. The increasing number of pharmaceutical enterprises, increased research and development in life sciences, the creation and implementation of clinical testing, and the widespread usage of the micro-pump in infusion treatment are the primary drivers driving the lucrative market expansion. Micro-Pumps have grown rapidly as a result of research into numerous approaches, the availability of raw materials needed for manufacture, and advancements in digital and electronic capabilities. Furthermore, the number of innovations in this product category has increased, which is supporting the rise of items in this area. The increased incidence of chronic disorders such as diabetes, cancer, ischemic heart disease (IHD), and the growing elderly population are likely to aid in market advancement. According to the Centers for Disease Control and Prevention, around 659,000 individuals in the United States die from heart disease each year, accounting for one out of every four fatalities. One of the most important uses of medication administration using infusion pumps is insulin delivery and blood glucose control.
As per a 2021 study published by MDPI, The piezoelectric micro diaphragm pump was found to be effective and well suited for medication delivery applications in. The demand for micro-pumps escalated due to the onset of COVID-19 in 2020 as the Pumps were used in emergency care devices like ventilators, nebulizers, etc. There was a rapid increase in the number of patients admitted in the hospitals due to critical health conditions especially during the second wave of COVID-19 pandemic. In March 2020, The Lee Company partnered with GM and Ventec life systems to mass-produce, critically needed ventilators to fight the COVID-19 pandemic. The companies together delivered 30,000 V+ Pro ventilators in just 154 days. The increasing number of patients required more tests and other emergency care services. Hence, the increased demand for such devices and test kits during the COVID-19 pandemic indirectly led to the growth of the market. However, high cost of product impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the Global Micro-pumps Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America emerged as the market leader. High buying power, strong government support for quality healthcare, the existence of high-quality infrastructure for clinical and laboratory research, and widespread acceptance of technologically sophisticated goods are just a few of the factors propelling regional market growth. Because of its increasing quality healthcare infrastructure, competent workforce, increasing awareness of healthcare products, rise in point-of-care diagnostic centres, and rigorous research and development initiative, Asia Pacific is expected to be the fastest-growing market over the forecast period.
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Major market players included in this report are:
- Bartels Mikrotechnik GmbH
- Burkert Fluid Control Systems
- TOPS INDUSTRY & TECHNOLOGY CO., LTD.
- The Lee Company
- Xiamen AJK Technology Co., Ltd.
- Xavitech
- ALLDOO Micropump
- Servoflo Corporation
- Dolomite Microfluidics (Backtrace Holdings Ltd.)
- TTp ventus
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Mechanical
Non-mechanical
By Application:
Drug Delivery
In-Vitro Diagnostics
Medical Devices
Others
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By End-use:
Biotechnological & Pharmaceutical Companies
Hospitals & Diagnostic Centers
Academic & Research Institutes
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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This report covers several key questions related to the global Micro-pumps market, including:
- What can be expected for the Micro-pumps market in the next decade?
- What are the primary drivers of growth in the global Micro-pumps market?
- Which technologies are likely to experience the most rapid growth, both by market and region?
- How do opportunities within the Micro-pumps market vary based on the size of the end market?
- What is the breakdown of Micro-pumps by type and application?
- How have recent events such as the COVID-19 pandemic and the Russia-Ukraine conflict impacted the Micro-pumps market?
The Key Points Covered in the Table of Contents:
Overview: This section provides a concise summary of the report, offering a high-level understanding of the global Micro-pumps Market. It serves as an introduction, providing insights into the nature and contents of the research study.
Market Analysis: The research study accurately and reliably forecasts the market share of key segments within the Micro-pumps Market. This analysis enables industry participants to make strategic investments in the significant growth areas of the Food Container Market.
Analysis of Leading Players’ Strategies: Market participants can utilize this report to gain a competitive advantage over their rivals in the Micro-pumps Market. It offers an in-depth analysis of the strategies employed by leading players, enabling others to develop effective strategies and stay ahead in the market.
Regional Growth Analysis: The report covers all major regions and countries relevant to the Micro-pumps Market. The regional analysis facilitates market players in identifying untapped regional markets, devising unique regional strategies, and comparing the growth patterns across different regions.
Market Forecasts: Purchasers of this report gain access to precise and validated estimations of the overall market size in terms of both value and volume. The study also includes comprehensive forecasts for consumption, production, sales, and other pertinent factors related to the Micro-pumps Market.
Our Micro-pumps Market Report is a comprehensive analysis of the market, providing valuable insights for businesses looking to invest in this industry.
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