Key Insights on Micro-Pump Market Development and Factors Supporting Growth Through the year 2027
International Micro Pump Market report gives expected growth of Top players at CAGR 17.2% during the forecast period of 2018–2027. On the basis of product type, it is segmented into mechanical micro pumps and non-mechanical micro pumps.
Pune, India – July 31, 2018 /MarketersMedia/ —
Global Micro-Pump Market – Market Dynamics
Growing Demand from the Expanding Biomedical and Pharmaceutical Industries Is the Prime Determinant of the Market
The Global Micro Pump Market is witnessing an upward growth trajectory phase owing to tremendous demand from biomedical and pharmaceutical industries. Micro pumps play a critical role in DNA chips, lab-on-a-chip, flow chemistry, inkjet printing and drug delivery systems. The concurrent development of biotechnology and microelectronics industry is benefitting the market, a trend that is only going to strengthen.
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Product Development and Technological Advancements A Key To Market Leadership
The advent of micro fabrication techniques is expected to transform the industry owing to benefits such as smaller sizes and lower volume flow control. The market is also likely to shift in favor of non-mechanical pumps due to the drawbacks of mechanical pumps. Mechanical micro pumps consist of moving parts which reduce long-term reliability. The advent of electro osmotic (EO) pump is expected to lead to market adoption owing to benefits such as generating pressures more than 10 and even 100 atm, compatible and others.
High Failure Rate Coupled With High-Cost Constraints Their Utility to Research and Development
The micro pump technology is in its nascent stage. The high cost of micro pumps, coupled with their high failure rate, poor robustness are critical constraints on their mass use. The difficulty of cleaning and their propensity to clog to minor impurities, oscillating flow, and others are other restraints hampering the market.
Global Micro-Pump Market – Key Players
The major participants of this market are Advanced Microfluidics SA, Alldoo Micropump, Bio-Chem Fluidics, Cole-Parmer Instrument Company LLC, Dolomite Centre Ltd, IDEX Corporation, KNF Neuberger Inc., Microfluidica LLC, Servoflo Corporation, Takasago Electric Inc., TOPS Industry & Technology Co. Ltd., World Precision Instruments, Xavitech and others.
Global Micro-Pump Market – Segmentation
The Global Micro Pump Market is segmented on the basis of product type, material, application, and end-user.
On the basis the product type, it is segmented into mechanical micro pumps and non-mechanical micro pumps. The mechanical micro pump is sub-segmented into piezoelectric micro pump, syringe pump, peristaltic pump, and others.
On the basis of the material, it is segmented into polymer, glass, silicon, and others. On the basis of the application, it is segmented into drugs delivery system, medical devices, in vitro diagnostic, and others. Based on the end user, it is segmented into biotechnology and pharmaceutical companies, hospitals and diagnostic centers, research institutes, and others.
Global Micro-Pump Market – Highlights
The Global Micro-Pump Market has been evaluated as rapidly growing market and expected that the market will reach high growth figures. Micro-pumps have been playing a crucial role in the pharmaceutical industry for last few years. Especially in the processes such as drug discovery, development and delivery. The ability of micro-pump to provide a controlled flow of fluids and controlled delivery of drug dosage into the body of the patients are the major factors boosting the demand for such techniques. This has led to the improved healthcare management and better medical outcomes.
Growing demand for micro-pump technology in the medical and pharmaceutical industry has played an important role in the growth of the micro-pump market. Point of care testing is increasing widely due to lifestyle changes, aging population, and growing chronic diseases. Point of care testing (POCT) involves the performance of a test close to the site of patient care to provide immediate results outside the conventional laboratory environment. The role of micro-pumps has been instrumental in the point of care services. Additionally, different types of materials are used to manufacture different micro-pump in order to ensure their compatibility with the extensive range of fluids. Due to these innovations in the material mix of microfluidic pumps, the opportunities for new entrants is increasing in the market, thus driving the growth of the overall market.
Proper drug delivery is the most important part of the drug administration. There has been rising awareness about the importance of the controlled drug delivery. Efforts are being taken to provide treatments for diseases like osteoporosis, infertility, Parkinson, Alzheimer, multiple sclerosis, among others through micro-pumps which will enhance the growth of the micro-pump market.
On the other hand, there are certain factors that can hinder the growth of the micro-pump market. The regulatory issues act as hindrance in the development of micro-pump market. Apart from regulatory challenges, the market also confronts issues from surface chemistry and geometrical problem during manufacturing process.
Global Micro-Pump Market – Regional Analysis
The Americas dominates the global micro pump market owing to the increasing investment in healthcare, the presence of a strong economic condition, and focus of research institutions on updating technology and others. Furthermore, American micro pump manufacturers have significantly upgraded their factories and manufacturing capabilities.
Europe holds the second position in the market increasing support from the government, the presence of huge healthcare spending. According to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014, France recorded the second highest level of current healthcare expenditure of EUR 237 billion.
Asia Pacific is the fastest growing market owing to more number of developing nations present in this region, for instance, countries like India and China. These countries are encouraging the growth of the micro pump market. Recently, China has become one of the fastest growing markets for microfluidics in Asia due to increased government funding and improving healthcare facilities. According to the National Bureau of Statistics of the People’s Republic of China, the total R&D spending of China was around USD 409 billion, in 2015.
The Middle East & Africa is expected to hold the least market share due to less availability of medical facilities, and less development in the healthcare domain. However, countries such as Qatar and Kuwait are focusing more on the healthcare and developing medical facilities, which will boost the market of this region.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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