The demand for smaller, portable, and more efficient devices
in various industries, especially in medical and healthcare
applications, is driving the need for micropumps.
WILMINGTON, Del., July 24,
2024 /PRNewswire/ -- The micropump
market was projected to attain US$
1.9 billion in 2023. It is likely to garner an 18.7%
CAGR from 2024 to 2034, and by 2034, the market is
expected to attain US$ 12.4
billion.
Innovations in micropump technologies, including the development
of more efficient, reliable, and cost-effective pumps, are
contributing to market growth. Significant investments in research
and development by key market players and academic institutions are
leading to new applications and improved performance of
micropumps.
The increasing popularity of wearable health monitoring and
therapeutic devices, which often incorporate micropumps, is a major
trend in the market. The integration of micropumps with IoT for
remote monitoring and control is enhancing their functionality and
application scope.
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Micropumps are being increasingly used in environmental
monitoring and energy applications, such as in fuel cells and
energy harvesting systems. The development of smart micropumps with
advanced features like self-regulation, enhanced precision, and
integration with digital health systems is opening new avenues for
market expansion.
The rise in chronic diseases such as diabetes, cardiovascular
diseases, and respiratory disorders necessitates precise and
reliable drug delivery mechanisms, enhancing the micropump market.
Continuous improvements in the performance, efficiency, and
reliability of micropumps make them more attractive for various
applications.
Government grants and funding for research in medical devices
and microfluidic technologies are propelling the development and
commercialization of micropumps. There is a growing trend towards
the customization and personalization of micropumps to meet
specific patient needs in medical applications.
Micropump Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 1.9 Bn
|
Forecast (Value) in
2034
|
US$ 12.4 Bn
|
Growth Rate
(CAGR)
|
18.7 %
|
No. of
Pages
|
133
Pages
|
Segments
covered
|
By Product Type, By
Material, By Application, By End-user, By Region
|
Micropump Market: Key Players
The micropump market is highly competitive, with players
continuously striving to innovate and expand their market presence.
The focus on technological advancements, strategic partnerships,
and regional expansion are key strategies that will shape the
future growth and dynamics of the market. The following companies
are well known participants in the micropump market:
- LEE Ventus Limited
- Sensile Medical AG
- Cole-Parmer India
- iDEX
- Dolomite Microfluidics
- Gardner Denver
- Takasago Fluidic Systems
- Halma Plc
- Servoflo Corporation
Key Developments
- In 2023, PSG Biotech introduced the new Quattroflow®
QB2-Standard (QB2-SD) Single-Use Precision Micropump. The
Quattroflow pump line is expanding with the introduction of its
inaugural QB Series micropump, the QB2-SD. This model is the
smallest in the series of single-use, lightweight, and compact
rotary microdosing pumps designed for precision transfer of
delicate biologics.
- The QB2-SD boasts a minimum resolution of 25 μl and can
achieve flow rates of up to 2.7 liters per hour (91.3 fluid ounces
per hour), making it ideal for liquid-handling operations requiring
precise and gentle dosing. Applications include cell and
gene therapy, laboratory work, and small-scale upstream and
downstream processes.
Key Findings of Market Report
- The shift towards home healthcare and point-of-care testing
presents significant opportunities for micropump applications in
portable diagnostic and therapeutic devices.
- Micropumps are being used in precision agriculture for
controlled delivery of nutrients and pesticides, providing a new
avenue for market growth.
- The need for efficient cooling solutions in microelectronics
and semiconductor industries is driving the demand for micropumps
designed for thermal management.
- The automotive and aerospace sectors are increasingly adopting
micropumps for various applications, including fluid control
systems and fuel management.
Market Trends for Micropumps
- By product type, the piezoelectric micropump segment is
expected to boost the growth of the micropump market.
- Piezoelectric micropumps offer exceptional precision and
accuracy in fluid handling, making them ideal for applications
requiring exact dosages, such as in medical and pharmaceutical
industries.
- The micropumps can handle a wide range of fluids, including
both liquids and gases, across various viscosities, enhancing their
applicability in diverse sectors like diagnostics, drug delivery,
and industrial processes.
- Piezoelectric micropumps are known for their energy efficiency,
which is critical for portable and battery-operated devices. The
attribute is particularly important for wearable medical devices
and other mobile applications.
- On the basis of material, the silicon segment is anticipated to
augment the market growth.
- Silicon micropumps offer excellent mechanical strength and
stability, making them suitable for high-pressure applications and
ensuring durability and reliability.
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Global Market for Micropump: Regional Outlook
North America
- North America has a highly
developed healthcare infrastructure, which facilitates the rapid
adoption of advanced medical technologies, including micropumps for
drug delivery and diagnostic applications.
- The region has a significant prevalence of chronic diseases
such as diabetes, cardiovascular diseases, and cancer,
necessitating advanced drug delivery systems and point-of-care
diagnostic devices that often utilize micropumps.
Asia Pacific
- Asia Pacific is home to
numerous leading research institutions and companies investing
heavily in research and development, leading to continuous
innovations and advancements in micropump technologies.
- Government initiatives and funding for healthcare advancements
and medical device innovation are encouraging the development and
adoption of micropump technologies.
Micropump Market Segmentation
Product Type
- Mechanical Micropump
- Piezoelectric Micropump
- Peristatic Micropump
- Others (Syringe Pump, etc.)
- Non-mechanical Micropump
Material
Application
- Drug Delivery
- In-vitro Diagnostics
- Medical Devices
- Others
End User
- Biopharmaceutical Companies
- Hospitals & Diagnostic Centers
- Academic & Research Institutes
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East &
Africa
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