Dublin, Oct. 21, 2021 (GLOBE NEWSWIRE) -- The "Global Intrathecal Pumps Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Constant Rate Pump, Programmable Pump); Application (Chronic Pain, Spasticity Management) and Geography" report has been added to ResearchAndMarkets.com's offering.
The intrathecal pumps market is expected to reach US$ 513.24 million by 2028 from US$ 357.38 million in 2021; it is estimated to grow at a CAGR of 5.3% during 2021-2028.
The increasing prevalence of cancer and other chronic conditions, advantages of intrathecal pumps over oral medications, and rise in geriatric population are among the major factors boosting the market growth. However, the lack of awareness regarding advanced pain management techniques and high cost of intrathecal pumps hampers the market growth.
An intrathecal pump is a high-accuracy medical device that is implanted to relive chronic pain by inserting small amount of medicine directly into the intrathecal space. Intrathecal space is an area surrounding the spinal cord. Intrathecal pumps prevent the pain signals from being perceived by the brain. The pumps are surgically placed under the abdominal skin and deliver pain medication through a catheter. When compared to oral medicines, intrathecal pumps require much less medication. Pain pumps require around 1/300 the quantity of medicine required by oral meds. Advances in technology, such as the ability of a pump to deliver medicines directly to the site of most need, greater potency, reduced systemic exposure, and the amount necessary to provide the desired pharmacologic effect, are projected to drive market expansion. For example, Flowonix Medicals launched a 40 mL pump for delivering medicines into the intrathecal space; the delivery device utilises a valve-gated, pressure-driven delivery mechanism and also has a battery life of more than ten years, which may help decrease the need for future surgical procedures.
The intrathecal pumps market by type is segmented into constant rate pumps, and programmable pumps. The constant rate pumps segment held the largest share of the market in 2021 and however, programmable pumps is anticipated to register the highest CAGR of 6.1% in the market during the forecast period.
The intrathecal pumps market, based on application, is segmented into chronic pain and spasticity management. In 2021, the chronic pain segment is expected to hold a larger share of the market; however, the spasticity segment is expected to register a higher CAGR during the forecast period.
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Key Topics Covered:
1. Introduction
2. Global Intrathecal Pumps Market - Key Takeaways
3. Research Methodology
4. Intrathecal Pumps Market- Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe- PEST Analysis
4.2.3 Asia Pacific - PEST Analysis
4.2.4 Middle East and Africa - PEST Analysis
4.2.5 South and Central America (SCAM) - PEST Analysis
4.2.6 Experts Opinion
5. Intrathecal Pumps Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Cancer and Other Chronic Conditions
5.1.2 Advantages of Intrathecal Pumps over Oral Medications
5.1.3 Rise in Geriatric Population
5.2 Market Restraints
5.2.1 Lack of Awareness Regarding Advanced Pain Management Techniques
5.2.2 High Cost of Intrathecal Pumps
5.3 Opportunities
5.3.1 Increasing Government Support for Developments in Medical Technologies
5.4 Future Trends
5.4.1 Integration of Healthcare IT with Medical Devices
5.5 Impact Analysis
6. Intrathecal Pumps Market- Global Analysis
6.1 Global Intrathecal Pumps Market Revenue Forecast and Analysis
6.2 Global Intrathecal Pumps Market, By Geography - Forecast and Analysis
6.3 Market Positioning of Key Players
7. Intrathecal Pumps Market Analysis - By Type
7.1 Overview
7.2 Intrathecal Pumps Market Revenue Share, By Type (2021 and 2028)
7.3 Constant Rate Pump
7.3.1 Overview
7.3.2 Constant Rate Pump: Intrathecal Pumps Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Programmable Pump
7.4.1 Overview
7.4.2 Programmable Pump: Intrathecal Pumps Market - Revenue and Forecast to 2028 (US$ Million)
8. Intrathecal Pumps Market Analysis - By Application
8.1 Overview
8.2 Intrathecal Pumps Market, by End Users 2021 & 2028 (%)
8.3 Chronic Pain
8.3.1 Overview
8.3.2 Chronic Pain: Intrathecal Pumps Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Spasticity Management
8.4.1 Overview
8.4.2 Spasticity Management: Intrathecal Pumps Market - Revenue and Forecast to 2028 (US$ Million)
9. Global Intrathecal Pumps Market - Geographic Analysis
10. Impact Of COVID-19 Pandemic on Intrathecal Pumps Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
10.2 Europe: Impact Assessment of COVID-19 Pandemic
10.3 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
10.4 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
10.5 South and Central America: Impact Assessment of COVID-19 Pandemic
11. Intrathecal Pumps Market- Industry Landscape
11.1 Overview
11.2 Growth Strategies in the Intrathecal Pumps Market (%)
11.3 Organic Developments
11.3.1 Overview
11.4 Inorganic Developments
11.4.1 Overview
12. Company Profiles
12.1 Medtronic
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Smiths Medical
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 FLOWONIX MEDICAL INC
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Tricumed Medizintechnik GmbH
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Teleflex Incorporated
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Johnson and Johnson Services, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Durect Corporation
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Medallion Therapeutics, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Abbott
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Baxter International Inc.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
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