Growing Applications in Microfluidics Likely to Gain Traction in Micropump Market During 2021–2028
According to our new research study on “Micropump Market Forecast to 2028 – COVID-19 Impact and Analysis – by product type, material, application, end-user,” the market is expected to reach US$ 5,172.86 million in 2028 from as estimated value of US$ 1,553.01 million in 2021. The market is likely to grow with a CAGR of 18.8% from 2021-2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.
Microfluidic technologies are evolving into offering a great range of applications. In a few years, it has emerged as a promising application in Point of Care (POC) testing for disease diagnosis. POC tests have the potential to improve disease diagnosis with early disease detection, easier monitoring, and increased personalization. Microfluidics offer a wide range of benefits such as faster turnaround times, smaller sample volumes, and lesser test costs. Micropumps are key components of microfluidic systems with applications ranging from biological fluid handling to microelectronic cooling; and the objective of integration is to fulfill the need for accurate delivery of fluids. The microfluidics has the potential to revolutionize the healthcare industry with cost-effective and high-performance diagnostic devices. The programmable pump is a crucial feature for lab-on-a-chip devices that could make the diagnosis of many life-threatening diseases easy and affordable. These benefits are utilized for the development of diagnosis and detection POC devices for a variety of conditions such as cancer and infectious diseases. Molecular diagnostics for infectious disease testing offer numerous advantages such as sensitivity, accuracy, and test range. However, the process is time consuming and in times of emergency, rapid point of care testes is of utmost importance. For instance, in the fight against COVID-19, there is a clinical need for fast and reliable diagnostic solutions, therefore many diagnostic companies seeking innovative ways to improve the process, such as POC. The Disc Pump from TTP Ventus is a novel piezoelectric micropump, with a unique set of attributes that fulfil the requirements of various microfluidic circuits and POC diagnostic systems. The microfluidic systems deployed in these instruments deliver excellent performance and faster short turn around. The major benefits of the POC devices include rapid response, cost-effectiveness, and portability. Hence, the integration of microfluidics that has advanced the improvisation of POC diagnostics, thereby driving the growth of the micropumps market during the forecast period.
Advanced Microfluidics, Microfluidica, LLC, Alldoo Micropump Co.,Ltd, Servoflo Corporation, TOPS INDUSTRY AND TECHNOLOGY CO. LTD, World Precision Instruments, Xavitech, Calon Cardio-Technology Ltd, Takasago Electric, Inc., Medtronic amongst others are the leading companies operating in the micro catheters and micro guidewires market.
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