Market Research Future published a Cooked research report on “Global Micro pump Market Research Report – Forecast till 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
The Global Micro Pump Market is rising with a swift phase; mainly due to increase in demand of point-of-care testing and features of controlling drug delivery. Companies are more focusing on collaboration and partnership to invent new product along with leading technology. In 2016, IDEX Corporation acquires SFC KOENIG AG, who is the global leader in the manufacturing of metal–to–metal seal and flow control solutions service, and also CIDRA Precision Services, this company is in manufacturing and sales of microfluidic components serving the life science, health and industrial markets. These collaborations helps companies in getting the expertise on technology of their competitor along with more product least, and help to leads the market.
A micro pump is a solenoid operated device designed to provide a precise, repeatable and discrete dispensed volume of fluid. It is the devices that can be control and manipulate small fluid volumes. Their capability of pushing micro fluids accurately through the micro-channels has made them act as the heart of different diagnostic and drug delivery micro-devices. They might be coupled with micro-filters, micro-mixers, micro-dispensers, micro-needles etc. in different micro devices.
Companies are also continuously inventing in new products to capture the market globally. Thus, major players invest more in research and development activity, in order to lead the global market. In this regards, in 2015, Bio-Chem Fluidics has introduced new product with unique and leading feature throughout the globe. They introduce Maestro Piston Pump, world’s first 10,000,000 cycle piston pump which is more reliable, longer lasting, piston pump at a competitive cost. Also in 2016, this company developed a new Maestro piston pump that delivers the longest life and best accuracy of any other pump in its category, this pump is capable of 10 million and 5 million cycles with clean fluids and aggressive or precipitating fluids respectively. These company are more focusing on product line with unique technology, so they meet the requirement of market and capture maximum market shares globally. Extensive research has to be done in order to ensure that surface compatibility of the micro pump with the fluids that are being processed through it. Hence it causes difficulty in the manufacturing of the pumping devices as there is wide range of fluids.
Globally the market for micro-pump is expected to grow at the rate of about 17.2% from 2016 to 2027.
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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 LLC, Xavitech AG are some of the leading players at the cutting edge of the competition in the market of micro pump, globally.
- The micro-pump global market is expected to reach $5.28 billion by 2027.
- Mechanical micro-pumps hold the largest share of 66.3% of the micro-pump market in 2015.
- North America holds the largest market share of 55.2% of micro-pump market and is anticipated to reach $3.02 billion by the end of forecast period.
- Pharmaceutical Industry holds the largest market share of 54.6% in 2015, and expected to continue the similar growth throughout the forecast period.
Global Micro Pump Market – Regional Analysis
The market of micro pump is much higher in the Americas region. There are several factors for tremendous growth of the micro pump market in this region such as wider acceptance of the technology, major players belong from this region. The micro pump technology was initially adopted by the North American countries, over the years the use of the micro pumping systems has increased and capture the market of the Americas.
Europe is also considered a huge market for micro pump players, owing to present of huge patient population. According to the European Federation of Pharmaceutical Industries and Associations, in 2014, highest spending on research and development has been made by Pharmaceutical and Biotechnology industry amongst all the industries that is 14.4% from the total revenue and the Pharmaceutical R&D expenditure of Europe was around € 30.88 billion. The population within the reason are more aware about the healthcare in comparison to other region like Asia Pacific and The Middle East and Africa.
Asia Pacific and the Middle East and Africa region are considered as the big opportunity for the market players owing to the presence of huge patient population. Whereas, countries like India and China of Asia Pacific region are considered fastest growing regions. These countries are open to adopt new technology and best treatment option from developed countries in order to improve the quality of life for their public. In 2014, Japanese Pharmaceutical R&D expenditure was around ¥ 14.95 Billion. It is expected that micro pump market growth in Japan would be higher in compared to other Asian countries. Japan is well developed country and have well established healthcare system and technology, whereas developing countries are still focusing on new drugs and technology which lead to increase in the demand for various micro pumps in the drug development and delivery process for the treatment.
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