Micro Pump Market Synopsis
A micropump is a delivers a controllable precise, repeatable and discrete volume of fluid, and used to manipulate small fluid volumes flow. High accuracy and consistency is the most desired characteristic of micropumps. Micropumps are crucial to diagnostic and drug delivery applications. The Global Micro-Pump Market for is anticipated to grow at a CAGR rate of about 17.2 % during the forecast period of 2016 to 2027.
Growing Demand From The Expanding Biomedical And Pharmaceutical Industries Is The Prime Determinant Of The Market
The global micro pump market is witnessing an upward growth trajectory phase owing to tremendous demand from biomedical and pharmaceutical industries. Micropumps play a critical role in DNA chips, lab-on-a-chip, flow chemistry, inkjet printing and drug delivery systems. The concurrent development of biotechnology and microelectronics industry is benefitting the market, a trend that is only going to strengthen.
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Product Development and Technological Advancements A Key To Market Leadership
The advent of microfabrication techniques is expected to transform the industry owing to benefits such as smaller sizes and lower volume flow control. The market is also likely to shift in favor of non-mechanical pumps due to the drawbacks of mechanical pumps. Mechanical micropumps consist of moving parts which reduce long-term reliability. The advent of electroosmotic (EO) pump is expected to lead to market adoption owing to benefits such as generating pressures more than 10 and even 100 atm, compatible and others.
High Failure Rate Coupled With High-Cost Constraints Their Utility To Research And Development
The micropump technology is in its nascent stage. The high cost of micropumps, coupled with their high failure rate, poor robustness is critical constraints on their mass use. The difficulty of cleaning and their propensity to clog to minor impurities, oscillating flow, and others are other restraints hampering the market.
Micro Pump Market Segmentation
To generate an accurate understanding of the global micro pump market, the report is segmented by type, industry, and regions.
Based on the type, the market is sub-segmented into mechanical and non-mechanical micropumps. Mechanical pumps segment is further segregated into the electrostatic micropump, micro-electromagnetic pump, piezoelectric micropump, thermo pneumatic micropump, shape memory alloy micropump, bimetallic and ion polymer micropump. Non-mechanical pumps are further segregated into the magneto-hydrodynamic micropump, electro-hydrodynamic micropump, electroosmotic micropump, electrowetting micropump, electrochemical micro pump and bubble-type micropump. The mechanical pumps dominate the market in 2016. However, the non-mechanical pumps are expected to drive faster growth.
Based on industry, the market is sub-segmented into pharmaceutical, medical devices, in-vitro diagnostics and others.
Based on regions, the market is segregated into North America, Europe, Asia Pacific, Middle East and Africa.
Some of the dominant players in 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.
Strategies of players in the Micro-pump Market:
Collaboration makes economic as well as technological sense. Collaboration reduces the development time and cost. It also allows all partners to benefit from the technological and technical skills of all players. Merger and acquisition is another strategy successfully adopted by many players. For example, in 2016, IDEX Corporation acquired SFC KOENIG AG, and CIDRA Precision Services. Thus combining world-class complimentary technologies of SFC KOENIG with CIDRA Precision Services is expected to benefit IDEX Corporation to take a strong global position in the market.
Micro Pump Market Key developments
Product development trumps all strategies to capture the market globally. Thus, research and development investment is a better indicator of significant players than the current revenue or even operating costs. Investment in research and development is expected to result in leading position due to higher market equity propensity.
Regional Analysis of Global Micro Pump Market
The market of micropump is dominated by North America and followed by Europe. Factors such as broader and faster acceptance of technology, the presence of major players in this region, early adoption and robust research ecology are estimated to result in the continuous lead of these regions shortly. High research and development expenditure is another factor driving the dominance of these regions. According to the European Federation of Pharmaceutical Industries and Associations, in 2016, Pharmaceutical and Biotechnology industry made the highest spending on research and development amongst all the sectors which accounted to 14.4 % from the total research and development investment.
Asia Pacific region is expected to be the future market opportunity for the market players owing to the fast economic and industrial development. Nations like India and China of Asia Pacific region are expected to be the fastest growing market for micro pump market. However, Japan is supposed to be the largest micro pump market in Asia Pacific region. The Middle East and Africa region are expected to result in weak growth due to factors such as poor social and economic conditions. The poor industrial base of these regions makes them dependent on imports which can be tapped by the other players.
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