Micro-pumps Market is Predicted to Observe a Tremendous Growth, With a CAGR of 17.4% From 2022 To 2030
Posted by Neha Bora on August 29th, 2022
San Francisco, 29 Aug 2022: The Report Micro-pumps Market Size, Share & Trends Analysis Report By Product (Mechanical, Non-mechanical), By Application (Drug Delivery, Medical Devices), By End Use, By Region, And Segment Forecasts, 2022 - 2030
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.
Access Research Report of Micro-pumps Market @ https://www.grandviewresearch.com/industry-analysis/micro-pumps-market-report
Micro-Pumps Market Report Highlights
List of Key Players in the Micro-pumps Market
Access Press Release of Micro-pumps Market @ https://www.grandviewresearch.com/press-release/global-micro-pumps-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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