Micro Pump Market Scope
Micropump is defined as the pumps having functionality dimensions in the micrometer range. Some of the major advantages of micropumps are improved accuracy compared to traditional pumps, less power consumption, and others. Micropumps play a vital role in cancer diseases where infusion therapy is employed. The demand of micropumps has increased, due to the rise in the number of cancer patients. For instance, according to the World Health Organization, in 2015, Cancer is the second leading cause of death globally and was responsible for more than 8.8 million deaths. In addition, it was also found that nearly one in six deaths are owing to cancer across the world. Therefore, a rising number of cancer patients across the world and increasing usage of micropump in various applications such as drug delivery systems, medical devices, in-vitro diagnostics, environmental monitoring & security among others are projected to drive the global micro-pump market over the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | Xiamen AJK Technology Co. Ltd. (China), Micropump Inc. (United States), Xavitech AB (Sweden), Advanced Microfluidics (Switzerland), Alldoo Micropump (China), Microfluidica LLC (United States), Servoflo Corporation (United States), Takasago Electric, Inc. (Japan), TOPS Industry & Technology Co. Ltd (China) and World Precision Instruments, LLC (United States) |
CAGR | 17.4% |
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Micro Pump market throughout the predicted period.
Xiamen AJK Technology Co. Ltd. (China), Micropump Inc. (United States), Xavitech AB (Sweden), Advanced Microfluidics (Switzerland), Alldoo Micropump (China), Microfluidica LLC (United States), Servoflo Corporation (United States), Takasago Electric, Inc. (Japan), TOPS Industry & Technology Co. Ltd (China) and World Precision Instruments, LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Xavitech AB (Sweden), Christian Burkert GmbH & Co. KG (Germany), Hargraves Technology Corporation (United States), Longer Precision Pump Co. Ltd (China), Calon Cardio-Technology Ltd (United Kingdom) and CircuLite Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Micro Pump market by Type , by Application (Drug Delivery Systems, Medical Device, In-Vitro Diagnostics, Environmental Monitoring & Security and Others) and Region with country level break-up.
On the basis of geography, the market of Micro Pump has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In August 2021, National Pump and Energy (NPE) has completed an acquisition of Australia’s only equipment plus pump and power contractor, securing the company as the largest pump rental group in the country.
In July 2017, the Biochem Fluidics Company has released the Maestro ULTRA piston pump, Opus Rocker Valves, Peristaltic Pumps. Hence, it will affect the growth of the market in the future.
Influencing Trend:
Technology Advancement regarding Micro Pumps
Market Growth Drivers:
Growing Applications in Biotechnology and Micro Chemical Systems across the world and Increasing Usage of Micro Pump in Various Application
Challenges:
Issue related to Comparatively High Actuation Voltage and Small Stroke and Lack of Awareness Regarding Micro Pumps
Restraints:
Issue related to Complex Design and Small Scale Integration
Opportunities:
Growing Demand from Emerging Economics such as China, India, among others
Key Target Audience
Micro Pumps Companies, Research and Development Companies, Government Regulatory Authorities, Product Sales and Distribution Companies, Market Research and Consulting Firms and Others