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Intrathecal Pumps Market

Global Intrathecal Pumps Market Size, Share, Development, Growth and Demand Forecast to 2023

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Report Code: LS10170
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Intrathecal pumps devices are used for specific transfer of drug doses in the human body particularly, especially within spinal cord. The advancement in the accuracy of these devices has increased the demand of intrathecal pumps in recent years.

Intrathecal pumps are widely used in the treatment of patients suffering from chronic pain without any/minimal side-effects. Economic factors such as, U.S. health insurance policies have boosted the demand of the intrathecal pumps market. Moreover, with advancing technology of the intrathecal pumps, the feasibility and flexibility of these devices have also grown with the current diagnostic methods, which in-turn is driving the intrathecal pumps market. Drugs such as Baclofen and Trihexy-phenidyl, which are used for the treatment of neuro-degeneration with brain iron accumulation and dystonia are not available in oral form, and hence, the demand of technically advanced intrathecal pumps with ability to perform multiple medications via single infusion pump has increased in recent years.

Intrathecal pumps are used extensively for the injecting specific drugs to cancer patients. According to a report published by the International Agency for Research on Cancer (IARC of WHO), the number of cancer patients has been considerably increased. About 14.1 million patients were estimated to suffer from cancer in 2012. Also, the cancer mortality rate was estimated to be about 8.2 million in the year 2012. With increasing prevalence of cancer, the intrathecal pumps market is expected to escalate in future.

Based on the various drug types, the global intrathecal pumps market can be broadly categorized as Baclofen, Hydromorphone, Morphine, Clonidine, Midazolam, Bupivacaine and others. Based on the different application of intrathecal pumps, the global intrathecal pumps market can be broadly classified into spasticity and pain management. Pain management occupied the maximum intrathecal pumps market’s share in 2014.

North America was the largest market for intrathecal pumps in 2014. The market dominance and the growth of the North American market are attributed to supportive health insurance policies by the government, along with the increasing awareness of intrathecal pumps among patients suffering from chronic pain in North America. Europe accounted for the second largest intrathecal pumps market in 2014, owing to the increased medical monitoring of the large population of baby boomers in the region. The Asia-Pacific is the fastest growing intrathecal pumps market, among all the geographical segmentation. The Asia-Pacific market is expected to witness a double digit growth in coming years owing to the prevalence of cancer in the developing countries such as India, and China. Moreover, increasing disposable income, strengthening healthcare, infrastructure and supportive government regulation have also benefited in the adoption of advance diagnosis equipment such as intrathecal pumps. Country wise, the U.S. and Canada are two of the largest intrathecal pumps market in North America. Also, Germany, Italy, France, U.K and Spain are some of the significant countries, which have played a massive role in escalating the Intrathecal pumps market of Europe. In Asia Pacific- Japan, China, and India are the major intrathecal pumps market.

Recently Flowonix Medical Inc., has launched a ‘Prometra’ intrathecal pump, featuring accurate drug delivery mechanism, dual-gated valve drug delivery and increased device longevity. Rising merger and accusation (M&A) activity and market consolidation in the global intrathecal pump market is expected to drive the intrathecal pump market during the forecast period.

Some of the major players operating in the global intrathecal pumps market include- Arrow International Medallion Therapeutics Inc., Codman & Shurtleff, Inc., Medtronic, Inc., and Flowonix, Inc., Tricumed GmbH among others.

 

Report Coverage

  • Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
  • Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
  • Uncovers potential demands in the market
  • Porter analysis identifies competitive forces within the market
  • Provides information on the historical and current market size and the future potential of the market
  • Provides sizes of key regional markets using yardsticks of segments, applications, and segments of applications
  • Highlights the competitive scenario of the market, major competitors, and benchmarking
  • Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.

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