Microfluidic Pumps Market Size, Share, Growth, and Industry Analysis by Type (Syringe Pump, Peristaltic Pump and Pressure Pump) By Application (Healthcare, Laboratories and Others) Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Microfluidic Pumps Market Report Overview

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The global microfluidic pumps market size is USD 201.1 million in 2022 and is projected to touch USD 313.9 million by 2031, at a CAGR of 7.7% during the forecast period. 

The desire for point of care testing, growing pharmaceutical prices, and increased R&D spending in the life sciences are all contributing to the microfluidic pump market's substantial growth. The key reason driving the growth of the microfluidic pumps market is the fast expansion of their usage in the healthcare sector for a variety of applications, including the flow of fluids, their transportation from one location to another, and their mixing of minute volumes of fluids. The microfluidic pump is widely used in medical equipment and aids in giving the patient the right amount of medication. Additionally, it is anticipated that problems with surface chemistry, geometrical design, and regulatory compliance would restrain the development of the microfluidic pump industry.

COVID-19 Impact:  Home Care Patients During Covid- 19 Outbreak to Drive the Market

The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with microfluidic pumps experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels.

Due to the COVID 19 outbreak, the market for microfluidic pumps is being driven by rising healthcare expenses and a shift away from outpatient treatment to at-home care. Another factor driving the expansion of the microfluidic pump market is the need for lighter, more compact, and suitable medical equipment for treating coronavirus-affected patients all over the world. The COVID-19 pandemic, however, has also created a number of challenges for the microfluidic pump sector.

LATEST TRENDS

"Rapid Expansion of Industries to Accelerate the Market Demands"

For the manufacture and use of Al in a large-scale, economical, high-throughput, automated, and multiplexed manner, lab-on-a-chip technology, in particular microfluidic pumps, is a suitable platform.

Pharmaceutical and medical device businesses are making significant investments in the creation of innovative drug delivery systems employing microfluidics in an effort to take advantage of the rapid expansion in this industry.

Microfluidic Pumps Market Segmentation

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• By Type Analysis

By type, market is segmented into syringe pump, peristaltic pump and pressure pump. The syringe pump segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into healthcare, laboratories, and others. The healthcare segment will lead the global share through 2028.

DRIVING FACTORS

"Emergence in Wide Range of Industries to Boost the Market"

Microfluidic pump technology is focused on facilitating simple and dependable operating procedures in the healthcare sector. In research laboratories for more than 20 years, integrated microfluidic pumps have been employed. Due to the development of large-scale microfluidic integration and soft lithography during the past ten years, their utilization in the life sciences and medical research has considerably risen. With the help of these technical developments, researchers have been able to expand the complexity and sophistication of experiments that can be carried out on a microfluidic chip, as well as the throughput of device manufacture and attempts at fast prototyping. With the development of technology, microfluidic pumps are swiftly emerging as a critical technology in a wide range of industries, including medicines, biosensing, bioactuation, and chemical synthesis. This is a sign of how microfluidic pumps have evolved from a promising R&D technology to one used to gather data with Al during clinical studies.

"Biocompatibility Feature to Drive the Market"

Implantable drug delivery systems are one example of a technologically advanced system that can offer significant growth opportunities for market participants. This is because microfluidic pumps can be used to create portable and wearable products that can guarantee accurate and consistent drug delivery. Insulin pumps are the most popular microfluidics-based medication delivery devices, and numerous related micro pumping techniques are currently being developed. Within the next two to three years, more of these gadgets ought to be accessible. Major advantages of microfluidic pumps, such as regulated medication release and biocompatibility, are anticipated to open a lot of doors for technological adoption. In addition to developing portable, wearable, and implantable gadgets, scientists are concentrating on creating smart medicines and subcutaneous patches for controlled release. The release can be better managed by creating diffusion barriers utilizing micro technologies.

RESTRAINING FACTORS

"Technological Challenges to Hinder the Market"

When integrating microfluidic pumps into current procedures, end users encounter a number of technological challenges. This limits the use of microfluidic pumps in standardized drug screening and drug discovery processes. Less than ten years ago, the market saw the introduction of the first microfluidic screening tools. The current state-of-the-art microfluidic pump technology offers tremendous chances for further instrument minimization and integration, as well as the possibility for increased automation and cost savings in the drug discovery and development processes. Even yet, it will probably take between 10 and 15 years until conventional macro-scale research instrumentation is totally replaced by microfluidics, despite the fact that this technology improves both the process and the instruments. The market will see sporadic releases of microfluidic devices up until such a situation arises, which will cause manufacturers to some extent lose out to traditional technology suppliers.

Microfluidic Pumps Market Regional Insights

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"Highest Global Microfluidic Pumps Market Share to be Held by North America"

North America held the highest market share for microfluidic pumps worldwide, followed by Europe, the Asia-Pacific region, and Latin America. The size of the North American microfluidic pumps market is characterized by rising government and academic investments in the development of lab-on-a-chip systems, rising PoC testing demand, rising demand for high-quality research tools for data reproducibility, rising incidence of chronic diseases, availability of insurance coverage for laboratory testing procedures, and adequate reimbursements for medical development.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Chemyx (U.S.)
• New Era Instruments (U.S.)
• Antylia Scientific (U.S.)
• Dolomite (Italy)
• Fluigent (France)
• Harvard Apparatus (U.S.)
• Burkert (Germany)
• Cellix Ltd (Ireland)
• Elveflow (Elvesys) (France)
• Longer Precision Pump (China)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.