The global Micro-Pumps Market size is expected to reach USD 6.79 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 17.4% from 2022 to 2030. Increasing demand for Point-Of-Care-Testing (POCT) kits, rising awareness of controlled drug delivery systems, increasing miniaturization of medical devices, and increase in the research and development of pharmaceutical companies, are expected to drive the market.
In the product segment, the mechanical micro-pumps segment
that dominated the market in 2021 is expected to serve as a key
revenue-generating product owing to their extensive use in microfabrication
technology and the rise in microfluidics research. Drug Delivery held a
lucrative share in the application segment and is expected to grow
substantially. The rising adoption of implanted drug delivery systems and
medical devices, as well as the increasing research in the field of drug
delivery, supported the growth of this segment. For instance, Sensile AG (A Subsidiary
of Gerresheimer) Medical announced it had developed a wearable micro-pump for a
European pharmaceutical company that is designed to treat Parkinson’s disease.
The onset of the pandemic positively affected the
medical devices market by the end of 2020. The use of Micro-pumps in biomedical
and pharmaceutical research for Covid-19 treatments increased. Individuals with
chronic diseases required frequent monitoring of vital signs from time to time
which led to the adoption of Point-Of-Care-Testing (POCT) kits. Even after the
pandemic, there is a rise in the adoption of POCT kits at hospitals, clinics,
and homes and hence, they are expected to support the growth of the market.
Related Press Release@ Micro-pumps Market Report
Micro-Pumps Market Report Highlights
- The Mechanical Micro-pumps segment is projected to dominate the
market throughout the forecast period owing to its extensive use in
microfabrication technology, miniaturization of devices, and microfluidics
- The drug delivery segment is projected to grow fast over the
forecast period owing to the rise in the use of micro-pumps for the
production of implanted drug delivery systems
- Biotechnological and Pharmaceutical Companies dominated the market
with a revenue share of 39.1% owing to the increasing demand for research
and development.
- North American region contributed the largest share to the market
in the year 2021 attributing to its technological advancements and
increasing quality research and development
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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