Market Dynamics

There has been an enormous increase in the number of diseases among the population over the last few decades. According to WHO, cancer is the second leading cause of death worldwide and accounted for 8.8 million deaths in 2015. Almost one in six deaths worldwide are due to cancer. Microfluidic systems and micropumps play a crucial role in these diseases where infusion therapy is used.

In addition, the role of micropumps has been instrumental in providing care services. The development and adoption of these clinical tests are expected to propel the market for microfluidic pumps. In addition, the development and acceptance of these clinical tests are expected to fuel demand for microfluidic pumps.

As per Market Research Future (MRFR) analysis, the global micro-pump market is anticipated to reach USD 3184.6 million with a CAGR of 19.4% from 2016 to 2023 (forecast period). 

Micropumps are used for a variety of applications, such as mixing small amounts of fluids, flow fluids, and transporting fluids from one place to another. In drug delivery systems, the primary function of micropumps is to transport the drug from the reservoir to the target location. These micropumps are used in medical devices that deliver the exact dosage of the medicine to the patient.

Segmentation

The global market for micropump market has been segmented into type, material, application, and end-user. 

Based on type, the global market for micropump has been segmented into mechanical micropump, piezoelectric micropump, syringe pump, peristaltic pump, and non-mechanical micropump. 

Based on material, the global market for micropump has been segmented into polymer, glass, and silicon. 

Based on application, the global market for micropump has been segmented into drug delivery systems, medical devices, and in-vitro diagnostics. 

Based on end-user, the global market for micropump has been segmented into biotechnology and pharmaceutical companies, hospitals and diagnostic centers, and research institutes. The biotechnology and pharmaceutical companies’ segment of the global micropump market accounted for a market value of USD 443.0 million in 2016.

Regional Analysis

The global market for micropump, based on region, is divided into the Americas, Europe, Asia Pacific, and the Middle East Africa.

The Americas has been the largest market for micropumps since the technology came into existence and is predicted to dominate the global demand for micropumps during the forecast period. There are several factors for the enormous growth of the micropump market, such as the broader acceptance of the technology. The North American countries initially embraced Micropump technology, and the use of micro pumping systems has grown over the years. Significant market players such as Cole Palmer, IDEX Corporation, Bio-Chem Fluidics, and World Precision Instruments, among others, are based in the USA, which has contributed to the development of the state-of-the-art infrastructure needed for micro pumping technology. Government funding is another essential factor in the overall growth of the market. 

The European demand for micro-pumps is predicted to be the second largest in the forecast period. In addition, a broad population requiring substantial diagnostic and medical requirements, drug discovery and development, and delivery facilities have played a significant role in the growth of the European region's micropump market. In addition, the companies operating in the market are particularly focused on mergers and acquisitions, which are expected to support market growth. 

Key Players

The prominent participants in the global micropump market are Advanced Microfluidics, Alldoo Micropump, Microfluidica LLC, TOPS Industry Technology Co. Ltd, Servoflo Corporation, Takasago Electric, Inc., World Precision Instrument, Xavitech, Christian Bürkert GmbH Co. KG, Hargraves Technology Corporation (Parker), Longer Precision Pump Co. Ltd, Calon Cardio, and CircuLite Inc. Some of the critical strategies followed by the players operating in the global micropump market were innovation, product development, acquisition, and expansion.