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Asia-Pacific Micro-Pump Market, is projected to grow at a CAGR of 15.7% during the period of 2016-2027.Japan commanded the largest share of the Asia-Pacific micro-pump market in 2015 and it is expected to reach $112.9 Million by the end of 2027.
The developing countries in Asia are experiencing a much faster growth for micro-pumps due to increased R&D spending, health insurance penetration and up-gradation of healthcare systems. The major players in the market such as Cole Palmer and IDEX Corporation have expanded their business in the major countries in Asia like India. Asian market players such as Takasago Electric Inc. and TOPS Industry & Technology Co. Ltd. are well rooted in the local market and are growing their business all across the world.
According to European Federation of Pharmaceutical Industries and Associations, in 2012, the Japanese pharmaceutical market accounted for about 11.7% share of the total pharmaceutical market. In 2014, Japanese Pharmaceutical R&D expenditure was around ¥ 14.95 Billion. It is expected that Micro-pump market growth in Japan would be higher in as compared to other Asian countries, leading to increased usage of microfluidic devices, such as drug dispensing devices and devices for toxicity testing in the drug development process.
Asia-Pacific Micro-pump Market Share, 2013 & 2017 (%)
Lately, China has become has come up as one of the fastest growing markets for microfluidics in Asia due to increased government funding and improving healthcare facilities. According to the National Bureau of Statistics of People’s Republic of China, The total R&D spending of China was around USD 409 Billion, in 2015. In Asia, there has been an overall increase in the clinical outcomes and patient requirement, due to availability of specific and sensitive diagnostic tests, along with technologically advanced medical equipment and devices. At the back of this trend, Asia has become an attractive market for medical device companies.
The Asia-Pacific micro-pump market statistical report published by Market Research future contains a brief overview of micro-pump market in the Asia-Pacific region. Japan has majorly dominated the Asia-Pacific market for micro-pump and is expected to grow continuously during the forecasted period of 2016-2027. The report analyzed the Asia-Pacific micro-pump market and presents systematic data of market share on the basis of segments and countries and its growth rate for 2016 to 2017, along with forecast till 2027.
Market Research future through this report aims to provide understanding of the Asia-Pacific micro-pump market on the basis of country, and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of Asia-Pacific micro-pump market.