Intrathecal Pumps Market Size Worth USD 3.18 Billion by 2030 at 5.25% CAGR – Report by Market Research Future (MRFR)

New York, USA, July 19, 2023 (GLOBE NEWSWIRE) — Intrathecal Pumps Market Overview

According to a Comprehensive Research Report by Market Research Future (MRFR), “Intrathecal Pumps Market Information By Product Class, Application, End User And Region – Forecast till 2030“, the market size was valued at USD 0.32 billion in 2021 and is projected to grow from USD 0.38 Billion in 2022 to USD 3.18 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.25% during the forecast period (2022 – 2030).

Market Scope

Implantable intrathecal pain pumps could manage chronic pain and deliver medications in modest doses. Compared to other medication forms, these implants have fewer adverse effects and a quicker time to start working. Demand for intrathecal pumps is rising as the number of Americans experiencing chronic pain grows. In other regions of the world, chronic pain is becoming more common. Increased demand for intrathecal pump implants to treat chronic pain will drive market growth in the coming years. Adjusting the intrathecal pumps’ medication delivery following the doctor’s instructions, a medicine can be infused over a prolonged period and supplied at steady or variable rates.

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An external needle injection replaces the medication reservoir through a self-sealing septum in the implanted infusion pump. These pumps are designed to deliver strong medications in the intrathecal region, allowing the delivery of pharmaceuticals in extremely low doses to manage spasticity and chronic pain. This lessens the negative effects of the medications. One of the main drivers of the global market is the rise in the number of people affected by cancer and chronic pain. When treating these disorders, intrathecal pumps are frequently utilized to give medications via the intrathecal route. The number of people who experience disease-causing pain is rising, and several important contributors are changing lifestyles, increased urbanization, and demographic shifts. The need for intrathecal pumps to treat cancer pain is thus anticipated to increase as long-term pain and pain due to cancer increase.

Report Scope:

Intrathecal Pumps Market Competitive Landscape:

• Medtronic Plc. (US)
• Tricumed GmbH (Germany)
• Codman & Shurtleff, Inc (US)
• Abbott (US)
• Baxter International Inc (US)
• Teleflex Incorporated (US)
• Flowonix (US)
• Medallion Therapeutics (US)
• Arrow International, Inc (US)
• Durect Corporation (US)

Intrathecal Pumps Market Trends:

Market Drivers:

Advanced intrathecal drug pumps that can deliver numerous intrathecal pump drugs with a single infusion pump have been created by researchers. However, using multiple medications in a single reservoir could lead to problems with drug stability and a complex dosing challenge because each medication has a different concentration and is administered at a different rate. More product adjustments are needed to ensure accurate and precise drug delivery with few mistakes. The primary driver predicted to fuel the industry’s growth is the increased incidence of chronic diseases like cancer, back pain, and chronic pancreatitis. Therefore, rising cancer rates are anticipated to generate significant growth prospects. Intrathecal pump technology developments are anticipated to augment industry growth.

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Its adoption rate is expected to rise due to developments, including better catheter design, pump delivery modes, and safety features. To manage medium to severe pain, opium is the source of the analgesic and narcotic medication morphine. Only severe pain that other painkillers cannot control is treated with morphine extended-release capsules and tablets. The requirement for morphine solutions for pain relief is anticipated to rise as the incidence of chronic diseases like cancer, arthritis, and other illnesses rises. As a result, the segment’s growth is driven by the growing demand for pain management pharmaceuticals to treat severe discomfort brought on by chronic conditions.

Restraints

Intrathecal pumps are seen to be a useful tool for pain relief; however, there may be certain hazards and issues with these pumps that need to be addressed. Devices ran out of power or unintentionally administered high or low medicine doses to patients. Therefore, one of the factors to guard against medical issues is product quality and safety. Additionally, the recent halt of intrathecal pumps because of faulty batteries and broken components is impeding the industry’s growth.

COVID 19 Analysis

The COVID-19 epidemic originally harmed intrathecal pump sales. Physical treatment was continued, and improvement in anxiety connected to medical issues was seen, despite patients having trouble getting to medical facilities. Despite communication issues with medical staff, ideal scores were kept at the start of the pandemic and a year later without any discernible changes. Patients with an intrathecal pump may run a serious risk of missing replacement or refill appointments due to pandemic-induced interpersonal and healthcare disruptions, which would drive the business expansion. Baclofen poses a problem to the industry because it has risks that could be fatal, including rhabdomyolysis, seizure, coma, and death.

Additionally, it has been noted that makers of intrathecal pumps are advancing devices with longer battery lives, which could reduce the number of additional surgical procedures needed to replace failing pumps. Growth in the sector is anticipated to be fueled by an increase in cases of pain disorders. Cancer discomfort is becoming more common as oncologic patients’ rates of survival increase.

Intrathecal Pumps Market Segmentation

By application, the market includes pain management and spasticity management. By product class, the market includes baclofen, hydromorphone, morphine, and bupivacaine. By end user, the market includes hospitals & clinics and ambulatory surgery centers.

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Intrathecal Pumps Market Regional Insights

The growth of the market in the North American region was helped by the availability of all three types of well-developed care hospitals. Additionally, a robust network of reimbursements and favorable government support are key elements projected to promote industry expansion. The demand for intrathecal pumps in this region is anticipated to increase due to the growing collective efforts of major market businesses to strengthen their product range and guarantee high-quality standards.

Favorable regulatory and reimbursement conditions and the regulatory approval of intrathecal gadgets are anticipated to drive the expansion of the region’s intrathecal pump market. During the forecast period, the Asia Pacific market is expected to expand quickly. This is attributed to a strengthening economy and insurance regulations. Economic expansion in the region’s developing nations is anticipated to raise the patient population’s disposable income, which is projected to boost healthcare costs.

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