#Halma gdp glassdoor drivers

The Disc Pump cycles at a rate of 20,000 times per second, which is one or two orders of magnitude quicker than conventional pumps, The company reported that the launch of these micro-pumps could be especially useful in point-of-care diagnostic devices, causing less discomfort for patients and less inconvenience for healthcare professionals. In 2017, TTP Ventus launched its Disc Pump, a new ‘silent’ micro-pump platform based on ultrasonic resonance. This can be attributed to high purchasing power, strong government support for quality healthcare, the presence of high-quality infrastructure for clinical and laboratory research, and the high adoption of technologically advanced products. Based on the region, North America dominated the market with a share of 49.4% in the year 2021.

Mechanical Micro-pumps Product Segment is expected to grow at a CAGR of 18.1% during the forecast period.

In a 2021 research published by MDPI, piezoelectric micro diaphragm pump has proven effective and well adapted for drug delivery applications. One of the major applications of drug delivery via infusion pumps is the delivery of insulin and management of the blood glucose level. According to the Centers for Disease Control and Prevention, about 659,000 people in the US die from heart disease each year, i.e., one in every four deaths. The rising prevalence of chronic diseases like diabetes, cancer, Ischemic Heart Diseases (IHD), and the increasing geriatric population are expected to help in the expansion of the market. The micro-pumps are also used in minimally invasive surgical procedures. However, the increasing use of micro-pumps in biomedical research during the pandemic assisted in the market recovery. The onset of COVID-19 impacted the market in the second and third quarters of 2020 due to supply chain, operations, and distribution constraints. In addition to this, there has been an increase in the number of innovations in this product category which is fueling the growth of products in this category. Micro-Pumps have evolved over a short duration of time with the help of research of various techniques, availability of raw materials required for production, and advancement in digital and electronic capabilities.

#Halma gdp glassdoor drivers

The rising number of pharmaceutical industries, increasing research and development in life sciences, the development and adoption of clinical tests, and high use of the micro-pump in infusion therapy are key drivers responsible for the lucrative market growth.

The global micro-pumps market size is valued at USD 1.6 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.4% from 2022 to 2030.