According to the latest research report, the micropump market size is predicted to reach USD 7328.83 Million by the end of the year 2030 by registering a CAGR of 19.2% during the forecast period. Increasing research & development in life sciences is likely to fuel demand for micro pumps in the years to come, thus acting as a growth catalyst to market expansion.

Awareness among the population about the importance of controlled drug delivery has risen in the past few years. This has boosted the growth of the micro pump market and is anticipated to exhibit the same trend over the next couple of years. In addition, the increasing burden of chronic diseases such as diabetes, cancer, etc. is likely to fuel demand for these pumps in the years to come. According to the estimations circulated by the World Health Organization (WHO), 8.8 million patients succumbed to cancer alone in 2015. The cancer death rate has been on the rise since years. Thus, the future trajectory of the micro pump market is expected to remain lucrative over the evaluation period.

The rising demand for point of care services is likely to favor the growth of micro pump market across the forecast period. Increasing adoption of these tests is expected to accelerate the proliferation of the market in the nearby future. However, the implementation of strict regulations is anticipated to restrict market growth over the next few years.

The report also contains the culmination of dynamics, segmentation, key players, regional analysis, and other important factors. And a detailed analysis of the micropump market insights.

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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 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.

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, micro 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:

Depending on geographic region, micro-pump market is segmented into four key regions: North America, Europe, Asia Pacific, and Rest of World. Globally North America is the largest market for micro-pump. The North America market for micro-pump is expected to grow at CAGR 17.6% during the forecasted period. Europe is the second-largest market for micro-pump which is expected to grow at a CAGR of 17.4%. Asia-Pacific region is expected to be fastest growing region in micro-pump market.

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