Micro-Pumps Market: Mechanical Micro-Pumps Segment is Projected To Dominate Throughout The Forecast Period
Micro-pumps Industry Overview
The global micro-pumps market size is valued at USD 1.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.4% from 2022 to 2030. The rising number of pharmaceutical industries, increasing research and development in life sciences, the development and adoption of clinical tests, and high use of the micro-pump in infusion therapy are key drivers responsible for the lucrative market growth. Micro-Pumps have evolved over a short duration of time with the help of research of various techniques, availability of raw materials required for production, and advancement in digital and electronic capabilities. In addition to this, there has been an increase in the number of innovations in this product category which is fueling the growth of products in this category.
The onset of COVID-19 impacted the market in the second and third quarters of 2020 due to supply chain, operations, and distribution constraints. However, the increasing use of micro-pumps in biomedical research during the pandemic assisted in the market recovery. The micro-pumps are also used in minimally invasive surgical procedures. The rising prevalence of chronic diseases like diabetes, cancer, Ischemic Heart Diseases (IHD), and the increasing geriatric population are expected to help in the expansion of the market. According to the Centers for Disease Control and Prevention, about 659,000 people in the US die from heart disease each year, i.e., one in every four deaths. One of the major applications of drug delivery via infusion pumps is the delivery of insulin and management of the blood glucose level. In a 2021 research published by MDPI, piezoelectric micro diaphragm pump has proven effective and well adapted for drug delivery applications.
Gather more insights about the market drivers, restrains and growth of the Global Micro-pumps market
The U.S. Mechanical Micro-pumps Product Segment is expected to grow at a CAGR of 18.1% during the forecast period. Based on the region, North America dominated the market with a share of 49.4% in the year 2021. This can be attributed to high purchasing power, strong government support for quality healthcare, the presence of high-quality infrastructure for clinical and laboratory research, and the high adoption of technologically advanced products. In 2017, TTP Ventus launched its Disc Pump, a new ‘silent’ micro-pump platform based on ultrasonic resonance. The company reported that the launch of these micro-pumps could be especially useful in point-of-care diagnostic devices, causing less discomfort for patients and less inconvenience for healthcare professionals. The Disc Pump cycles at a rate of 20,000 times per second, which is one or two orders of magnitude quicker than conventional pumps,
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 to the hospitals due to critical health conditions, especially during the second wave of the 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.
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Micro-pumps Market Segmentation
Grand View Research has segmented the global Micro-Pumps market based on product, application, end-use, and region:
Micro-pumps Product Outlook (Revenue, USD Million, 2018 - 2030)
- Mechanical
- Non-mechanical
Micro-pumps Application Outlook (Revenue, USD Million, 2018 - 2030)
- Drug Delivery
- In-vitro Diagnostics
- Medical Devices
- Others
Micro-pumps End-use Outlook (Revenue, USD Million, 2018 - 2030)
- Biotechnological & Pharmaceutical Companies
- Hospitals & Diagnostic Centers
- Academic & Research Institutes
Micro-pumps Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights:
- January 2022: Bartels Mikrotechnik GmbH, Inc. introduced the mp6 series of micro-pumps. The mp6 series consists of mp6-Liq, mp6-gas, and mp6-gas+. Other key layers are focused on partnerships and mergers that will allow them to introduce new products in different markets.
- September 2018: Sensile Medical AG (A Subsidiary of Gerresheimer) received EU certification for the European market. A European Company obtained a CE declaration of conformity for the micro-rotatory pump used in the treatment of advanced Parkinson’s disease.
Key Companies profiled:
Some of the prominent players in the micro-pumps market include:
- 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)
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