According to a new report, published by KBV research, The Global Micro-Pumps Market size is expected to reach $4.2 billion by 2028, rising at a market growth of 16.3% CAGR during the forecast period.
The Mechanical segment acquired maximum share revenue share in the Global Micro-pumps Market by Product in 2021 thereby, achieving a market value of $2.3 billion by 2028. Inkjet printers employ non-mechanical micro pumps on a regular basis in companies as well as homes. A phase transfer pump is a component of one type of inkjet printer. In this pump, an ink-filled micro channel receives localized heating.
The Hospitals & Diagnostic Centers segment is showcasing CAGR of 16.4% during (2022 - 2028). This is due to the fact that there is a rise in the utilization of micro pumps point-of-care diagnosis & devices used for blood transport & glucose monitoring devices used for diabetes patients. Since the COVID-19 pandemic, point-of-care testing (POCT) has increased.
The Drug Delivery segment is leading the Global Micro-pumps Market by Application in 2021 thereby, achieving a market value of $1.4 billion by 2028. This can be attributed to the growing prevalence of micro pumps implanted in medication delivery devices. In addition, increased demand for Micro-pumps is anticipated as a result of growing consumer awareness of controlled medication delivery system devices & expanding drug delivery device production.
The North America market dominated the Global Micro-pumps Market by Region in 2021 thereby, achieving a market value of $1.9 billion by 2028. The Asia Pacific market is exhibiting a CAGR of 17.1% during (2022 - 2028). Additionally, The Europe market would showcase a CAGR of 16.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/micro-pumps-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Ingersroll Rand, Inc. (Gardner Denver), KNF Neuberger GmbH, Alldoo Micropump Co., Ltd., Xiamen AJK Technology Co. Ltd., TOPS Industry and Technology Co., Ltd., Servoflo Corporation, Cole-Parmer Instrument Company, LLC (Antylia Scientific) (GTCR LLC), World Precision Instruments, LLC, Takasago Electric, Inc., and Dolomite Microfluidics (Blacktrace group).
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