Report : Asia Pacific Micropump Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Mechanical Micropump, Syringe Pump, Piezoelectric Micropump, Peristaltic Pump, and Non-Mechanical Micropump), Material (Silicon, Polymer, and Glass), Application (Medical Equipment & Devices, Clinical & Analytical Lab, Pharmaceuticals, Biotechnology, and Others), and End User (Hospitals & Diagnostic Centers, Biotechnology & Pharmaceutical Companies, and Academic & Research Institutes)
The non-mechanical micropump segment by product type is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific Micropump Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product Type, Material, Application, End User and Country.” The Asia Pacific micropump market is expected to reach US$ 996.29 million by 2028 from as estimated value of US$ 284.78 million in 2021; it is likely to grow at a CAGR of 19.6% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific micropump market and the factors driving market along with those that act as hindrances.
At present, healthcare has been extended from hospital to home at reduced costs, improved patient outcomes, and convenience. The advent of small, portable, and wearable medical devices has simplified chronic disease management such as diabetes, hypertension, and sleep apnea. The use of wearable devices for recording data such as sleep patterns, heart rate, and body temperature has become a trend among millennials. The increasing prevalence of chronic diseases and the requirement for repeat dosing to treat these diseases have increased the demand for drug and device combination products. Furthermore, as the trend of patient care from clinic to home continues and the growing number of parenteral biologic products are developed for chronic conditions, there is a greater need for devices that allow patients to administer injectable medications safely and effectively. Portable and home-based devices are often used over long periods without background noise. For example, sleep apnea sufferers need uninterrupted sleep by their therapy device. Therefore, product developers are turning to micropumps that deliver silent and vibration-free operations. In addition, the rising adoption of miniaturized medical devices has helped reshape the medical device industry. The miniaturization of a medical device can be achieved in various ways—one of the most important is through micropumps. Micropumps are being developed for a variety of medical applications including transdermal insulin delivery, blood transportation through artificial hearts, injection of glucose and drugs, hormone treatment, and pain and wound-care management. Furthermore, manufacturers are releasing a wide range of micropumps to cater to the rising demand of the medical device industry. This has opened product innovation possibilities for applications including microfluidics research, medical diagnostics, therapeutic devices, and wearables, which are further boosting the market growth.
Owing to the COVID-19 outbreak, several countries have implemented strict lockdown and have stopped trade with other countries and within the country. This has highly affected the supply of medical devices to remote and middle-income areas of the Asia Pacific countries. Moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure, restrictions imposed by hospitals to the suppliers, decrease in demand for neurovascular devices and others. Furthermore, business strategies such as mergers & acquisitions and partnerships are adversely affected by the imposition of complete lockdown. Such obstructions in business activities are projected to hamper the adoption of various technologically advanced healthcare systems, including micropumps.
The Asia Pacific micropump market, by product type is segmented into mechanical micropump, syringe pump, piezoelectric micropump, peristaltic pump, and non-mechanical micropump. The Asia Pacific micropump market based on material is segmented into silicon, polymer, and glass. The Asia Pacific micropump market by application, is segmented into medical equipment & devices, clinical & analytical lab, pharmaceuticals, biotechnology, and others. The Asia Pacific micropump market by end user, is segmented into hospitals & diagnostic centers, biotechnology & pharmaceutical companies, and academic & research institutes. Geographically, the Asia Pacific micropump market can be sub-segmented into India, Japan, South Korea, Australia, China and Rest of Asia Pacific.
Advanced Microfluidics, Microfluidica, LLC, Alldoo Micropump Co.,Ltd, Servoflo Corporation, TOPS INDUSTRY AND TECHNOLOGY CO. LTD, World Precision Instruments, Xavitech, Calon Cardio-Technology Ltd, Takasago Electric, Inc. and Medtronic are among the leading companies operating in the Asia Pacific micropump market.
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