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The Asia-Pacific micro-pump market is estimated to grow at a CAGR of 15.7% during the forecasted period. Japan commands the largest market share of 23.6% of Asia-Pacific micro-pump market in 2015. The market in Japan was valued at USD 18.5 million in 2015 and expected to reach at USD 112.9 million by 2027.
The market for microfluidic pumps, globally is gaining significant importance due to growing R&D investment in life sciences, pharmaceuticals, and increasing point of care testing demand. There is an increase in point of care testing, as an effective method for delivery of treatment, requirement for the precision and efficiency in the drug delivery has also led to increase in the demand for micro-pumps in the global market. There are some other factors driving the micro-pumps market are rise in the pharmaceutical, medical and diagnostic applications of these micro-pumps.
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. 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. 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. 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. 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 market is segmented by country, type and industry. The Asia-Pacific region comprises of the countries like Japan, China, India, Republic of Korea, Australia and Rest of the Asia-Pacific. The industries includes Pharmaceutical, Medical devices, In-vitro diagnostics and others. Whereas the type includes mechanical micro-pump and non-mechanical micro-pumps. 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.
In 2015, mechanical micro-pump segment commands the largest market share of 67% of total market and is expected to reach at USD 347.5 million by 2027.
Figure 1 ASIA-PACIFIC MICRO-PUMP MARKET SHARE BY INDUSTRY, 2015
Figure 2 ASIA-PACIFIC MICRO-PUMP MARKET SHARE BY INDUSTRY, 2017
The Asia-Pacific Micro-Pump market statistical report published by Market Research future contains a brief overview of Asia-Pacific Micro-Pump market. Japan commands the largest share and is expected to grow continuously during the forecasted period of 2013-2027. The report analyzed the Asia-Pacific Micro-pump market and presents systematic data of market share on the basis of country, type, and industry and its growth rate for 2015 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, type, and industry 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.
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