Global Micro-pumps Market is Anticipated to Witness High Growth Owing to Rising Integration Across Medical, Lab-on-Chip and Drug Delivery Applications
Micro-pumps are miniature pumps used for controlled and precise pumping of small quantities of liquids and gases. They are used across various applications such as medical devices, drug delivery systems, lab-on-a-chip, solar cells and analytical instruments among others owing to their advantages such as smaller size, low power consumption and ability to precisely control flow rates. Rising integration of microfluidic technologies across medical devices and diagnostics is propelling the demand for micro-pumps. Further, increasing research and development activities in the fields of drug delivery and lab-on-a-chip devices is also boosting the global micro-pumps market growth.
The Global micro-pumps market is estimated to be valued at US$ 2.21 BN in 2024 and is expected to exhibit a CAGR of 17% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in The Global Micro-Pumps are Bartels Mikrotechnik GmbH, Bürkert 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, Arcmed Group (Halma). Bartels Mikrotechnik leads the market with its diverse product offerings across medical, analytical and research applications.
Rising demand from lab-on-a-chip and microfluidics creates huge growth opportunities in the market. Asia Pacific region especially China and India offers exponential opportunities due to growing R&D activities and integration of micro technologies across the end use industries.
Major players are expanding globally to tap the opportunities in high growth markets. For instance, Bartels Mikrotechnik recently expanded in North America and Asia Pacific owing to immense scope in medical devices segment.
Market drivers: Growing research in drug delivery and rising point-of-care diagnostics demand is driving the micro-pumps market growth. Integration of miniaturized systems across healthcare sector propels the market.
Market restrain: High initial costs associated with microfabrication and customization of pumps as per specific applications could hamper the market growth to some extent.
Segment Analysis
The global micro-pumps market is dominated by medical sub segment. Micro-pumps finds major application in drug delivery systems and medical device components in healthcare industry. Key factors such as rising demand for portable and disposable medical devices, growing preference for minimally invasive surgeries and continuous development of advanced drug delivery techniques have been driving the medical sub segment growth significantly.
Global Analysis
Regionally, North America holds the largest share in global micro-pumps market and is expected to maintain its dominance during the forecast period as well. Higher healthcare spending, well-developed medical infrastructure and strong presence of leading market players in countries like US and Canada supports the regional market growth. Asia Pacific is identified as the fastest growing region owing to rising medical tourism, growing geriatric population and increasing investments by both public and private players in healthcare sector of emerging countries like China and India. Europe holds substantial share in the global market due to continuous technological advancements and availability of favorable reimbursement policies for novel treatment procedures in the region.
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