Micropump Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type ; Material ; Application ; End-User, and Geography

Micropump Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type ; Material ; Application ; End-User, and Geography

  • August 2021 •
  • 201 pages •
  • Report ID: 6128423 •
  • Format: PDF
The global Micropump market is expected to reach US$ 5,172.86 million in 2028 from as estimated value of US$ 1,553.01 million in 2021. The market is likely to grow with a CAGR of 18.8% from 2021-2028.

The growth of the market is due to increasing demand for micropumps in medical device industry, and improved accuracy compared to traditional drug delivery devices are boosting the micropump market growth. However, stringent medical device regulations are hindering the growth of market.

Micropumps are small volume devices designed to transmit fluids with high precision.These pumps are used for numerous functions in the medical industry, such as preparing samples for medical diagnoses & therapeutics and dispensing precise dosages of medications.

Micropumps are key components of microfluidic systems with applications ranging from biological fluid handling to microelectronic cooling. Their small size, potential cost, and improved dosing accuracy have led to increased adoption by medical device manufacturers
In the last few years, the pharmaceutical industry has witnessed the introduction of several innovative interventions for the treatment of several chronic diseases.However, most of the available treatment options require parenteral drug administration, frequent dosing, and repeated hospital visits.

Treatment administration via parenteral route is associated with concerns such as dosing errors, microbial contamination risks, and needle stick injuries.These are found to be the primary factors affecting medication adherence, thereby impacting therapeutic outcomes.

Over the years, several companies have developed advanced therapeutic delivery solutions to overcome the challenges associated with the administration of viscous and large molecule drugs.
The micropump market, by product type is segmented into mechanical micropump, syringe pump, piezoelectric micropump, peristaltic pump, and non-mechanical micropump. The mechanical micropump segment held the largest share of the market in 2021, however the non-mechanical micropump segment is anticipated to register the highest CAGR of 19.7% in the market during the forecast period.
Micropump market based on material is segmented into silicon, polymer, glass. In 2021, the silicon segment is likely to hold the largest share of the market, however polymer segment is expected to grow at the fastest rate during the coming years.
The micropump market by application, is segmented into medical equipment & devices, clinical & analytical lab, pharmaceuticals, biotechnology, and others. The medical equipment & devices segment is likely to hold the largest share of the market in 2021, and the same segment is anticipated to register the highest CAGR of 19.5% of the market during the forecast period.
The micropump market by end user, is segmented into hospitals & diagnostic centers, biotechnology & pharmaceutical companies, and academic & research institutes. The hospitals & diagnostic centers segment is likely to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR of 19.3% of the market during the forecast period.

Central Drugs Standard Control Organization, Commission for Protection against Health Risks, Contract Research Organizations, and Drug Safety and Effectiveness Network are among the major secondary sources referred to while preparing the report on the Micropump market.
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