Global Micropump Market Size (By Product Type: Mechanical Micropump, and Non-Mechanical Micropump; By Material: Silicon, Polymer, and Glass; By Application: Drug Delivery, In-vitro Diagnostics, Medical Devices, and Others; and By End-User: Academic & Research Institutes, Biotechnology & Pharmaceutical Companies, and Hospitals & Diagnostic Centers) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2021 - 2028
From 2021 to 2028, the global micropump market is predicted to grow at a CAGR of 19.1%, from US$ 1,465 million in 2020 to US$ 5,847 million in 2028.
Micropumps are miniature copies of common macroscopic pumps (such as water and fuel pumps). These micropumps or devices within the pumps have dimensions in the microrange (1 x 10-6), which implies they are as small as or smaller than the diameter of a strand of hair (60 to 100 micrometers). Micropumps are commonly used to transport liquids or gases (fluids) from one point to another. The micropump line offers a wide range of models with excellent chemical and biological compatibility, and most of them have static seals for long life, low maintenance, and leak-free performance.
The global micropump market is driven by the increasing demand for precise drug delivery. A significant aspect of micropumps is dose precision and accuracy. This is especially significant in applications where the medicine is highly potent and must be metered with extreme precision (e.g., insulin). Traditional hypodermic syringes can deliver pharmacological doses accurately in amounts greater than 50 μL, but more precision is frequently required (especially with infants).
Young infants with type I diabetes may require bolus insulin doses as low as 10 L, a small enough amount that even minor dosing errors can produce considerable blood glucose changes. As a result, for low doses where manual syringes and pen-injectors exhibit unacceptable levels of error, microsystems with precise flow control are an invaluable solution. Thus, 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.
Growth in the number of chronic disorders and contagious diseases is expected to fuel the market demand in the coming years. Each year, approximately 8 million people around the world die from cancer. The Centers for Disease Control and Prevention research suggests that one-third of these deaths can be prevented with appropriate technologies and services. Increasing the application of micropumps in cancer drug deliveries will support a rapid growth rate of the market. In addition, growing research activities for the evaluation and development of cancer therapies in animals such as rodents are also triggering the growth of the market during the projected years. However, the government's controls on the import and export of micropump, a lack of understanding about the market in most developing economies, and growing risk from implantable devices all restrict the micropump market's growth. Furthermore, huge growth opportunities from the point-of-care and handheld diagnostics, and increasing adoption of automated drug delivery systems are the factors that are likely to boost the market growth during the forecast period 2021 – 2028.
The global micropump market is classified into five segments – material, product type, application, end-user, and regions. Silicon, polymer, and glass are the categorization of the material segment. Based on the material segment, silicon held the maximum share in 2020. The high growth in the segment is attributed to the easy drug delivery, and increasing adoption of silicon micropumps in mechanical micropump technology.
Based on product type the market categorizes it into non-mechanical micropump and mechanical micropump. The mechanical micropump is further categorized into peristaltic pump, piezoelectric micropump, and others. Among them, the mechanical micropump achieved a significant market share owing to its growing usage to provide insulin to diabetic patients. However, the non-mechanical micropump is likely to attain the fastest CAGR throughout the forecast period due to its frequent use in drug administration as they are easy to use.
By application, the market is divided into drug delivery, in-vitro diagnostics, medical devices, and others. In 2020, the drug delivery segment occupied a substantial amount of share as micropumps primary application is drug administration. However, the segment of the in-vitro diagnostics is expected to register a considerable growth rate during the forecast timeframe 2021 – 2028.
Academic & research institutes, hospitals & diagnostic centers, and biotechnology & pharmaceutical companies are the categorizations of the end-user segment. Based on the analysis, the hospitals and diagnostic centers segment gathered the largest shares in 2020 owing to the rising number of surgeries, and rising incidences of chronic diseases such as cancer and cardiovascular disorders.
Micropump Market Regional Overview
The global micropump industry is classified into North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa. In 2020, North America dominated the maximum market share due to the presence of a large number of key players in the region, increasing adoption of point-of-care testing, and surge in research & development activities. However, the Asia-Pacific region is likely to witness the fastest growth rate during the forecast period 2021 – 2028. The high growth in the segment is attributed to the increased expenditure on healthcare services, and an increasing number of hospitals and research institutions in the region.
Global Micropump Segment Analysis
Market By Product Type
· Mechanical Micropump
o Peristaltic Pump
o Piezoelectric Micropump
· Non-Mechanical Micropump
Market By Material
Market By Application
· In-vitro Diagnostics
· Drug Delivery
· Medical Devices
Market By End-User
· Biotechnology & Pharmaceutical Companies
· Hospitals & Diagnostic Centers
· Academic & Research Institutes
Micropump Market Competitive Landscape
This section of the report identifies the market's major players. ALLDOO Micropump Bartels Mikrotechnik GmbH, Bürkert Fluid Control Systems, Calon Cardio-Technology Ltd, World Precision Instruments, Microfluidica, Micropump Inc. (IDEX Corporation), Takako Industries, INC., The Lee Company, TOPS Industry & Technology Co., Ltd., Xiamen AJK Technology Co., Ltd., Servoflo Corporation, and Xavitech are the key companies mentioned in the research.
Micropump Market Regional Overview
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa