Intrathecal Pumps Market Size Worth $ 622.68 Million by 2030, Says The Brainy Insights
NEWARK, N.J., Aug. 23, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, 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.
A high-precision medical device called an intrathecal pump is implanted to relieve chronic pain by injecting a small quantity of medication into the intrathecal region. The spinal cord is surrounded by an area known as intrathecal space. Intrathecal pumps block the brain's ability to detect pain signals. The catheter used to distribute painkillers via the pumps is inserted surgically under the skin of the abdomen. Intrathecal pumps need a lot less medication than oral medications. The amount of drugs required for pain pumps is around 1/300 that of oral medications.
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The market is expected to grow due to technological advancements such as the ability of a pump to administer drugs directly to the area of need, increased potency, lower systemic exposure, and the quantity required to have the desired pharmacologic effect. Devices called intrathecal pumps are utilized for precise medication dosage transfers within the human body, notably the spinal cord. With low adverse effects, intrathecal pumps are frequently used to treat individuals with chronic pain. Because intrathecal pumps function directly in the Cerebrospinal Fluid (CSF), they enable quicker and more efficient drug absorption than oral treatments. The rates of chronic illnesses, including cancer, back pain, and chronic pancreatitis, have been anticipated to increase, and this is the critical factor that will fuel the industry's expansion. It is projected that increasing the incidence of cancer would open up a lot of growth opportunities. The advancement of intrathecal pump technology might speed up market growth. As a result of innovations, including improved pump delivery modes, catheter design, and safety features, its adoption rate is anticipated to increase. Baclofen poses a risk to the industry since it can be fatal and result in issues including seizures, rhabdomyolysis, coma, and death. Forecasts indicate that the market will grow when more well-known companies release products.
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Market Growth & Trends
During the forecasted period, significant developments in pump treatment for chronic illnesses are anticipated to be seen. Cancer patients frequently utilize intrathecal pumps to relieve their chronic pain. A survey by the International Agency for Research on Cancer (IARC) projected that there were 14.1 million new cases of cancer and an 8.2 million-person death rate. Another assessment by the World Health Organization (WHO) and International Pain Community estimated that the prevalence of chronic pain in cancer patients ranged from more than 75% for those with advanced illness to roughly 25% for those who had just been diagnosed. The prevalence of chronic diseases will cause a significant increase in the need for improved intrathecal pumps in the coming years. Numerous businesses are developing new technologies to enhance the safety, internal mechanism, and operation of the intrathecal pump device; therefore, it is likely to change over time. The FDA approved Flowonix Medical Inc.'s "Prometra" intrathecal pump. 'Prometra' has several characteristics, including a precise medication delivery system, dual-gated valve drug distribution, and increased device longevity. Creating novel medications that might be administered to address specific imbalances is an additional field of research in the intrathecal space. For example, the FDA has authorized various safe drugs for intrathecal injection, including probuphine, spinraza, and ziconotide.
Key Findings
- The bupivacaine segment is expected to show the highest share in the market, with the largest market share throughout the forecast period.
The type segment is divided into bupivacaine, morphine, baclofen, ziconotide, clonidine, and others. The bupivacaine segment is expected to show the highest share in the market, with the largest market share of 26.21%. In intrathecal treatment, bupivacaine is regarded as a top-notch supplementary drug. Numerous studies have shown that bupivacaine enhances the effects of intrathecal opioids when taken in conjunction, significantly boosting its market share. Some patients can need fewer oral opioids due to bupivacaine, preventing dosage increases in intrathecal opioids. As a result, it is projected that bupivacaine's benefits would ensure the segment's expansion. Also, throughout the projected period, the baclofen type segment is anticipated to increase rapidly. Treatment for various central pain conditions, such as SCI, post-stroke, and musculoskeletal pain, with intrathecal baclofen effectively reduces spasticity and pain. Thus, increasing pain and spasticity levels would be anticipated to contribute to the segment's growth.
- The spasticity segment is expected to show the highest share in the market, with the largest market share throughout the forecast period.
The application segment is divided into pain and spasticity. The spasticity segment is expected to show the highest share in the market, with the largest market share of 60.37%. The development of therapies to treat spasticity is a focus for several market participants. To control severe spasticity, for instance, Medtronic's Intrathecal Baclofen Therapy (ITB) administers Lioresal Intrathecal (baclofen) into the fluid around the spinal cord of the patient. Another significant reason driving the segment's development is the increase in stroke cases globally. For example, according to research released by the American College of Cardiology Foundation in 2019, an American suffers from a stroke every 40 seconds on average, and 795,000 Americans have new or recurrent strokes each year.
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Regional Segment Analysis of the Intrathecal Pumps Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, Asia Pacific emerged as the largest market for the global intrathecal pumps market, with a market share of around 39.02%. The Asia Pacific region has a significant patient base that will increase the demand for medication. The popularity of intrathecal pumps is anticipated to grow as more pain treatment facilities open up in China, Singapore, Japan, and India. One pain treatment facility that offers an alternative to open surgery is Singapore Pain Care Center (SPCC) in Southeast Asia. The demand for products in various pain treatment facilities is anticipated to increase as a result of growing expenditures on healthcare infrastructure, propelling regional market expansion.
Key players operating in the global intrathecal pumps market are:
- Smiths Medical
- Tricumed Medizintechnik GmbH
- Johnson and Johnson Services, Inc.
- Medallion Therapeutics, Inc.
- Baxter International Inc.
- Medtronic
- Teleflex Incorporated
- Abbott
- Flowonix Medical Inc.
- Durect Corporation
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. Brainy Insights has segmented the global intrathecal pumps market based on the below-mentioned segments:
Global Intrathecal Pumps Market by Type:
- Bupivacaine
- Morphine
- Baclofen
- Ziconotide
- Clonidine
- Others
Global Intrathecal Pumps Market by Application:
- Pain
- Spasticity
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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.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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