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Europe Micro-Pump Market, is projected to grow at a CAGR of 15.8% during the period of 2016-2027. Germany commanded the largest share of the Europe micro-pump market in 2015 and it is expected to reach $270.6 Million by the end of 2027.
According to European Federation of Pharmaceutical Industries and Associations, in 2014, Pharmaceutical and Biotechnology industry amongst all the industries recorded highest percentage 14.4% of the R&D spending from the total revenues and the Pharmaceutical R&D expenditure of Europe was around € 30.88 Billion. It has led to the increased research on the drugs in pipeline. The use of microfluidic devices is also expected to increase use of micro-pumps in drug synthesis and toxicity testing in drug development.
The European region also consist of the most of the developed nations which are familiar with the microfluidic technology and the use of micro-pumps for various applications. The companies such as Dolomite Microfluidics which is one of the major company in the Micro-pump business has played a crucial role in the awareness about the use of the micro-pumping devices in the medical, pharmaceutical, diagnostic and other industries. Huge population having the great amount of diagnostic and medical requirements; moreover the drug discovery, development and delivery services have played an important role in the growth of the micro-pump market in the European region.
Europe Micro-Pump Market Share, 2013 & 2017 (%)
Technological advancements in the field are of great importance. Development of the portable microfluidic pumping devices has increased the popularity of the technology in the home care and ambulatory services. For example, portable micro syringe pump developed by the Epower plays an important role in the homecare services for the application of adjustable long term infusion of medication.
The Europe micro-pump market statistical report published by Market Research future contains a brief overview of micro-pump market in the Europe region. Germany has majorly dominated the Europe market for micro-pump and is expected to grow continuously during the forecasted period of 2016-2027. The report analyzed the Europe 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 Europe 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 Europe micro-pump market.