Rapid Growth Forecasted for Micropump Market, projected to Reach US$ 12.4 Billion by 2034: TMR Report - Enhanced by Rising Demand from Wearable Health Devices and IoT Integration

The demand for smaller, portable, and more efficient devices in various industries, especially in medical and healthcare applications, is driving the need for micropumps.

WILMINGTON, Del., July 24, 2024 /PRNewswire/ -- The micropump market was projected to attain US$ 1.9 billion in 2023. It is likely to garner an 18.7% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 12.4 billion. 

Innovations in micropump technologies, including the development of more efficient, reliable, and cost-effective pumps, are contributing to market growth. Significant investments in research and development by key market players and academic institutions are leading to new applications and improved performance of micropumps. 

The increasing popularity of wearable health monitoring and therapeutic devices, which often incorporate micropumps, is a major trend in the market. The integration of micropumps with IoT for remote monitoring and control is enhancing their functionality and application scope.

Download Sample of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=83929 

Micropumps are being increasingly used in environmental monitoring and energy applications, such as in fuel cells and energy harvesting systems. The development of smart micropumps with advanced features like self-regulation, enhanced precision, and integration with digital health systems is opening new avenues for market expansion.

The rise in chronic diseases such as diabetes, cardiovascular diseases, and respiratory disorders necessitates precise and reliable drug delivery mechanisms, enhancing the micropump market. Continuous improvements in the performance, efficiency, and reliability of micropumps make them more attractive for various applications. 

Government grants and funding for research in medical devices and microfluidic technologies are propelling the development and commercialization of micropumps. There is a growing trend towards the customization and personalization of micropumps to meet specific patient needs in medical applications. 

Micropump Market Report Scope:

Micropump Market: Key Players

The micropump market is highly competitive, with players continuously striving to innovate and expand their market presence. The focus on technological advancements, strategic partnerships, and regional expansion are key strategies that will shape the future growth and dynamics of the market. The following companies are well known participants in the micropump market:

• LEE Ventus Limited
• Sensile Medical AG
• Cole-Parmer India
• iDEX
• Dolomite Microfluidics
• Gardner Denver
• Takasago Fluidic Systems
• Halma Plc
• Servoflo Corporation

Key Developments

• In 2023, PSG Biotech introduced the new Quattroflow® QB2-Standard (QB2-SD) Single-Use Precision Micropump. The Quattroflow pump line is expanding with the introduction of its inaugural QB Series micropump, the QB2-SD. This model is the smallest in the series of single-use, lightweight, and compact rotary microdosing pumps designed for precision transfer of delicate biologics.
• The QB2-SD boasts a minimum resolution of 25 μl and can achieve flow rates of up to 2.7 liters per hour (91.3 fluid ounces per hour), making it ideal for liquid-handling operations requiring precise and gentle dosing. Applications include cell and gene therapy, laboratory work, and small-scale upstream and downstream processes.

Key Findings of Market Report

• The shift towards home healthcare and point-of-care testing presents significant opportunities for micropump applications in portable diagnostic and therapeutic devices.
• Micropumps are being used in precision agriculture for controlled delivery of nutrients and pesticides, providing a new avenue for market growth.
• The need for efficient cooling solutions in microelectronics and semiconductor industries is driving the demand for micropumps designed for thermal management.
• The automotive and aerospace sectors are increasingly adopting micropumps for various applications, including fluid control systems and fuel management. 

Market Trends for Micropumps

• By product type, the piezoelectric micropump segment is expected to boost the growth of the micropump market.
• Piezoelectric micropumps offer exceptional precision and accuracy in fluid handling, making them ideal for applications requiring exact dosages, such as in medical and pharmaceutical industries.
• The micropumps can handle a wide range of fluids, including both liquids and gases, across various viscosities, enhancing their applicability in diverse sectors like diagnostics, drug delivery, and industrial processes.
• Piezoelectric micropumps are known for their energy efficiency, which is critical for portable and battery-operated devices. The attribute is particularly important for wearable medical devices and other mobile applications.
• On the basis of material, the silicon segment is anticipated to augment the market growth.
• Silicon micropumps offer excellent mechanical strength and stability, making them suitable for high-pressure applications and ensuring durability and reliability. 

Explore Sample of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=83929 

Global Market for Micropump: Regional Outlook

North America

• North America has a highly developed healthcare infrastructure, which facilitates the rapid adoption of advanced medical technologies, including micropumps for drug delivery and diagnostic applications.
• The region has a significant prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer, necessitating advanced drug delivery systems and point-of-care diagnostic devices that often utilize micropumps. 

Asia Pacific

• Asia Pacific is home to numerous leading research institutions and companies investing heavily in research and development, leading to continuous innovations and advancements in micropump technologies.
• Government initiatives and funding for healthcare advancements and medical device innovation are encouraging the development and adoption of micropump technologies.

Micropump Market Segmentation

Product Type

• Mechanical Micropump
• Piezoelectric Micropump
• Peristatic Micropump
• Others (Syringe Pump, etc.)
• Non-mechanical Micropump

Material

• Polymer
• Glass
• Silicon

Application

• Drug Delivery
• In-vitro Diagnostics
• Medical Devices
• Others

End User

• Biopharmaceutical Companies
• Hospitals & Diagnostic Centers
• Academic & Research Institutes

Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa 

Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=83929&ltype=S 

More Trending Report by Transparency Market Research:

• Electronic Health Records Market likely to surpass USD 50 Bn by 2031, expanding at a 5% CAGR
• Hydroxyapatite Market is projected to grow at a CAGR of 6.0% from 2024 to 2034 and reach more than US$ 4.4 Bn by the end of 2034
• IV Bags Market Predicted to Reach USD 1.5 billion by 2032, Expanding at a CAGR of 5.8%
• Thermal Cycler Market is projected to grow at a CAGR of 5.1% from 2024 to 2034 and reach more than US$ 1.7 Bn by the end of 2034

About Transparency Market Research 

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. 

Contact:

Transparency Market Research Inc.

CORPORATE HEADQUARTER DOWNTOWN,

1000 N. West Street,

Suite 1200, Wilmington, Delaware 19801 USA

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Website: https://www.transparencymarketresearch.com  

Email: [email protected]

Follow Us: LinkedIn| Twitter| Blog | YouTube

Logo - https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg

SOURCE Transparency Market Research