Market Trends of Peristaltic Pumps Industry
This section covers the major market trends shaping the Peristaltic Pumps Market according to our research experts:
Peristaltic Tube Pumps Segment is Expected to Hold Significant Market Share of the Peristaltic Pumps Market
Peristaltic tube pumps have flexible tubes that use positive displacement to transport fluids in a continuous, smooth pulsing motion, simulating natural peristalsis found in many biological systems. These are used to dispense fluid in a variety of applications, including pharmaceuticals, food, cosmetics, chemicals, and construction. As a result, the growing demand for peristaltic tube pumps is expected to drive the segment.
The rising initiatives from key market players for the display of peristaltic tube pumps are expected to bolster the market's growth. For instance, in October 2021, DuPont showcased the new DuPont Liveo Pharma TPE Tubing at three industry events, including CBioPC in Nanjing, China, INTERPHEX in New York, United States, and CPhI in Milan, Italy. Such exhibitions are expected to drive the segment due to increased product awareness.
According to the study published in the Journal of Mechanical Behaviour of Biomedical Materials in December 2022, peristaltic tubing pump is very frequently used in hospitals or drug production and has versatile applications. Such applications and increased adoption are anticipated to drive the segment.
Thus, all such factors are expected to boost the segment's growth over the forecast period.
North America Holds a Significant Share and is Expected to Continue the Trend During the Forecast Period
North America may hold a significant share in the peristaltic pump market during the forecast period due to the presence of many academic and research institutes, diagnostic labs, diagnostic centers, and pharmaceutical companies that use peristaltic pumps in disinfection applications, propelling the regional market.
According to the 2022 PhRMA Annual Membership Survey, the R&D expenditure of PhRMA Member Companies in the United States was USD 79,610.0 million in 2021, up by 9.9% from the previous year. According to the Canadian government, CAD 922.9 million was spent as a total R&D expenditure by patentees, an increase of 12.2% over the previous year, and CAD 735.9 million was spent in R&D expenditures as reported by Innovative Medicines Canada members, an increase of 11.0% over the previous year. Such huge R&D expenditures by the pharma and biopharma companies in the North American region are expected to drive the segment due to the rising adoption of peristaltic pumps in drug discovery.
Key strategies by market players, such as product launches, mergers and acquisitions, and expansions, are expected to drive the market over the forecast period. In April 2022, NETZSCH Pumps North America LLC entered the peristaltic market with the launch of the PERIPRO Pump and expanded its positive displacement pump offerings. The pump delivers low and large flow rates at various pressures.
Thus, all such factors are expected to boost the market's growth in the region over the forecast period.
