The peristaltic pumps market is projected to reach USD 467.5 Million by 2021, at a CAGR of 6.8% from 2016 to 2021.
Peristaltic pumps maintain the sterility of the liquid or slurry that is being transported. The inner surface of the tube or the hose is the only contact area between the pump and the fluid, thereby resulting in limited probability of contamination. Hence, these pumps are increasingly utilized in the food & beverages and pharmaceuticals industries. In addition, slow industrialization in the North American and European regions and lack of Greenfield investments acts as restraining factors impacting the growth of the peristaltic pumps market.
The peristaltic tube pump segment is projected to witness high growth during the forecast period. Peristaltic tube pumps are used for effective transfer of corrosive liquids and fluids containing suspensions of abrasive solids. This type of peristaltic pump is widely utilized for dosing and chemical injection applications. In peristaltic tubing pumps, the tube is the only material that is in contact with the fluid, and thus, it limits the probability of contamination.
Based on end-use industry, the pharmaceuticals industry is projected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increase in R&D capabilities of biotech and pharmaceutical industries. In addition, the growth of pharmaceuticals industry and expansion of its production facilities are further contributing to the growth of the peristaltic pumps market in the pharmaceuticals industry during the forecast period.