Global Micro-Pump Market, By Industry, is projected to grow at a CAGR of 17.2% during the period of 2016-2027. Pharmaceutical industry segment commanded the largest share of the global micro-pump market in 2015 and it is expected to reach $2.98 Billion.
Microfluidic devices such as micro-pump in pharmaceutical industry are mainly used for research and development processes. These devices are used for better control, lower cost and faster results during various steps of drug development. The total market is expecting huge growth. This impressive growth of the market will be fueled mainly by pharmaceutical research, drug development and point-of-care applications. Micro-pumps in pharmaceutical industry are used for a range of applications such as drug discovery, cell experimentation, and implantable drug delivery components. These devices are becoming more and more useful in pharmaceutical industry, comparatively at a low cost and have greater sensitivity to low signal levels. Additionally, Micro-pumps are used in the various processes by coupling them with other medical devices in order to obtain the desired results. Medical devices with lab on chip technology can be used with the micro-pumps for the sample preparation and analysis. Micro-pumps can be coupled with the fluid dispenser, flow meter, cytometer, micro-filters, micro-mixers, micro-dispensers, micro-needles and many other medical devices. Growing demand for micro-pump technology in the medical device and pharmaceutical industry has played an important role in the growth of the micro-pump market.
The global micro-pump market statistical report published by Market Research future contains a brief overview of global micro-pump market by Industry. On the basis of industry the market has been segmented into pharmaceutical industry, medical device industry, in-vitro diagnostics industry, and others. Pharmaceutical industry segment commands the largest share and is expected to grow continuously during the forecasted period of 2013-2027. The report analyzed the global micro-pump market and presents systematic data of market share on the basis of 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 global micro-pump market on the basis of 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 global micro-pump market.