South and Central America Micropump Market

Market Introduction

Micropumps are small volume devices designed to transmit fluids with high precision. These pumps are used for numerous functions in the medical industry, such as preparing samples for medical diagnoses & therapeutics and dispensing precise dosages of medications. Micropumps are key components of microfluidic systems with applications ranging from biological fluid handling to microelectronic cooling. Their small size, potential cost, and improved dosing accuracy have led to increased adoption by medical device manufacturers.

South and Central America Micropump Strategic Insights

Strategic insights for the South and Central America Micropump provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South and Central America Micropump Report Scope

South and Central America Micropump Regional Insights

The geographic scope of the South and Central America Micropump refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The South and Central America micropump market is expected to reach US$ 354.34 million by 2028 from an estimated value of US$ 96.32 million in 2021; it is likely to register a CAGR of 17.8% from 2021 to 2028. The growth of the market is due to increasing demand for micropumps in the medical device industry and improved accuracy over the traditional drug delivery devices. However, stringent medical device regulations are hindering the growth of the micropump market.

In recent years, controlled release of drugs faced challenges such as the release of a suitable quantity of drugs at the right time with the least invasiveness and raised demand for advanced drug delivery devices. The emergence of micro-electro-mechanical systems (MEMS) that combine mechanical and electrical components provides a solution to overcome these challenges. The rising adoption of miniaturized medical devices has helped reshape the medical device industry. Owing to the rising healthcare costs and the shift to home-based outpatient care, the demand for smaller, lighter, and portable products has increased tremendously. The miniaturization of a medical device can be achieved in various ways—one of the most important is through micropumps. Micropumps are associated with lower production costs, fewer leaks, decreased power consumption, and increased accuracy owing to the controlled flow of fluids and delivery of drug dosage into the body. They can handle extremely small volumes of liquid efficiently. Micropumps are being developed for a variety of medical applications including transdermal insulin delivery, blood transportation through artificial hearts, injection of glucose and drugs, hormone treatment, and pain and wound-care management. Additionally, manufacturers are releasing a wide range of micropumps to cater to the rising demand of the medical device industry.

The production facilities of major manufacturers such as Xavitech are closed due to the COVID-19 pandemic. The major players are trying to supply their products to the customers through various channels in Latin America, but they are facing obstacles due to limited manufacturing and disturbance in the supply chain caused by the pandemic. The medical devices industry in developing countries such as Brazil is highly dependent on the import of raw materials and electronic components and are facing a shortage of raw materials. Hence, the micropumps industry in South and Central America is expected to face significant losses due to the disruptions caused by COVID-19 outbreak.

Key Market Segments

The South and Central America micropump market, by product type is segmented into mechanical micropump, syringe pump, piezoelectric micropump, peristaltic pump, and non-mechanical micropump. The mechanical micropump segment is expected to hold the largest share of the market in 2021; however, the non-mechanical micropump segment is anticipated to register the highest CAGR during the forecast period.

The South and Central America micropump market, based on material, is segmented into silicon, polymer, and glass. In 2021, the silicon segment is likely to hold the largest share of the market; however, the polymer segment is expected to grow at the fastest rate during the forecast period.

The South and Central America micropump market, by application, is segmented into medical equipment & devices, clinical & analytical lab, pharmaceuticals, biotechnology, and others. The medical equipment & devices segment is likely to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR during the forecast period.

The South and Central America micropump market, by end user, is segmented into hospitals & diagnostic centers, biotechnology & pharmaceutical companies, and academic & research institutes. The hospitals & diagnostic centers segment is likely to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR during the forecast period.

Major Sources and Companies Listed

A few of the primary and secondary sources associated with this report on the South and Central America micropump market are the Centers for Disease Control and Prevention (CDC), International Diabetes Federation (IDF) and Food and Drug Administration (FDA).

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SOUTH AND CENTRAL AMERICA MICROPUMP MARKET SEGMENTATION

By Product Type

• Mechanical Micropump
• Syringe Pump
• Piezoelectric Micropump
• Peristaltic Pump
• Non-Mechanical Micropump

By

Material

• Silicon
• Polymer
• Glass

By Application

• Medical Equipment & Devices
• Clinical & Analytical Lab
• Pharmaceuticals
• Biotechnology
• Others

By End User

• Hospitals & Diagnostic Centers
• Biotechnology & Pharmaceutical Companies
• Academic & Research Institutes

By Country

• Brazil
• Argentina
• Rest of South and Central America

Company Profiles

• Advanced Microfluidics
• Microfluidica, LLC
• Alldoo Micropump Co.,Ltd
• Servoflo Corporation
• TOPS INDUSTRY AND TECHNOLOGY CO. LTD
• World Precision Instruments
• Xavitech
• Takasago Electric, Inc.
• Medtronic