Newark, June 08, 2023 (GLOBE NEWSWIRE) -- The global intrathecal pumps market is expected to grow from USD 384.59 million in 2021 to USD 622.68 million by 2030, at a CAGR of 5.50% during the forecast period 2022-2030. In the treatment of chronic pain, intrathecal injection is becoming more and more crucial. Intrathecal pumps offer carefully controlled and extended medication delivery throughout the body to treat several chronic conditions, such as the pain associated with cancer and multiple sclerosis. The intrathecal pump and catheters are surgically inserted under the skin to deliver the medication directly into the spinal cord and relieve pain. Additionally, using very little power, these pumps are accurate, portable, and simple. In cases where large doses of opioids or morphine are required or when treating cancer pain, pain following failed surgeries, or other conditions, intrathecal pumps are frequently employed. These surgically implanted pumps use a catheter to deliver medicine to the patient's cerebrospinal fluid in the spinal cord. They are positioned just below the abdomen's skin. Because of this, the pump can deliver drugs at a more accurate dose than oral drugs. The exceptionally efficient intrathecal pump can reduce chronic pain in patients with cancer and other related disorders.
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| Report Coverage | Details |
| Forecast Period | 2022 to 2030 |
| Forecast Period 2022 to 2030 CAGR | 5.50% |
| 2030 Value Projection | USD 622.68 Million |
| Base Year | 2021 |
| Historical Data for | 2019 to 2020 |
| No. of Pages | 235 |
| Segments covered | Type, Application, Regions |
| Regional Segmentation Analysis | North America emerged as the largest market for the global intrathecal pumps market, with a 37.28% share of the market revenue in 2021. |
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The morphine segment dominated the market with market revenue of USD 95.83 million in 2021
The type segment is divided into bupivacaine, morphine, baclofen, ziconotide, clonidine, and others. The morphine segment dominated the market with a market revenue of USD 95.83 million in 2021. Morphine is the gold standard in intrathecal drug administration because of its strong affinity for receptors, stability, and lengthy history of use. Additionally, the American FDA has approved the use of morphine to treat prolonged intrathecal pain. Long-term intrathecal morphine also has fewer side effects than systemic opioids, which is anticipated to fuel this market's growth.
The pain segment dominated the market with market revenue of USD 223.13 million in 2021
The application segment is divided into pain and spasticity. The pain segment dominated the market with a revenue of USD 223.13 million in 2021. The rising frequency of acute and chronic disorders, including diseases that cause chronic pain and failed back surgery syndrome, is one of the primary factors driving the segment's expansion. Therefore, intrathecal pumps are the best option for those with painful conditions.
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Regional Segmentation Analysis:
The market is analyzed based on five regions: North America, Europe, Asia Pacific, South America, the Middle East, and Africa. North America dominated the market in 2021 with a share of 37.28%. The rise in the prevalence of disorders associated with chronic pain increased R&D expenditures, and the number of pain treatment facilities in the United States and Canada contributed significantly to the region's growth.
Competitive Analysis:
The major players in the market include Smiths Medical, tricumed Medizintechnik GmbH, Johnson and Johnson Services, Inc., Medallion Therapeutics, Inc., Baxter International Inc., Medtronic, Teleflex Incorporated, Abbott, Flowonix Medical Inc., Dfffurect Corporation, among others.
About the report:
The global intrathecal pumps market is analyzed based on value (USD Million). All the segments have been analyzed worldwide, regional and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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