Intrathecal Pumps Market
Number of pages: 100 | Report Format: PDF | Published date: June 05, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 338.49 million |
|
Revenue Forecast in 2031 |
US$ 523.32 million |
|
CAGR |
4.96% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Type, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global intrathecal pumps market was valued at US$ 338.49 million in 2022 and is expected to register a revenue CAGR of 4.96% to reach US$ 523.32 million by 2031.
Intrathecal Pumps Market Fundamentals
Intrathecal pumps, or spinal infusion pumps, are medical devices that deliver medications directly into the spinal fluid. They have a major application in managing chronic pain, particularly in patients not responding well to other treatments. The pump is surgically implanted under the skin, which delivers medication through a catheter to the intrathecal space in the spinal cord. This targeted drug delivery helps provide effective pain relief while minimizing systemic side effects.
Advancements in intrathecal pump technology have introduced new trends, such as programmable and refillable pumps, which provide customized medication dosing for patients. These pumps can be calibrated to deliver specific doses at different intervals, improving pain management. Furthermore, wireless communication and remote monitoring capabilities have been integrated into the pumps, allowing healthcare professionals to monitor and adjust pump settings remotely. This technology has enhanced patient care and convenience.
Additionally, there exist numerous prospects to expand the market for intrathecal pumps. A significant opportunity is the rising recognition and approval of non-opioid pain management remedies. With the ongoing opioid crisis, it is becoming increasingly important to consider alternative treatments for chronic pain. One such option is the use of intrathecal pumps, which offer a safe and effective means of administering targeted pain medication without the risk of addiction or systemic opioid side effects.
Intrathecal Pumps Market Dynamics
Chronic pain conditions such as cancer pain, neuropathic pain, and failed back surgery syndrome are increasingly rising. According to the National Centre for Biotechnology Information 2019 estimates, neuropathic pain is believed to affect 3% to 17% of the general population in the United States. Traditional methods of pain management may not always be sufficient to alleviate the pain of these patients. As a result, intrathecal pumps are becoming a popular solution due to their targeted and effective approach, which is driving demand for these devices.
Technological advancements in intrathecal pumps are also influencing the demand for intrathecal pumps market. Technological advancements in intrathecal pumps will mainly focus on the miniaturization of the device pump and improving battery consumption. Companies like Medtronic and Codman are at the forefront of these advancements. For instance, Medtronic's SynchroMed II pump is a small device that can be implanted under the skin near the waistline. It delivers pain medication to the spinal cord, reducing the need for oral medication and improving patient comfort.
Reimbursement policies play a crucial role in the adoption of medical devices. In recent years, there has been an increase in the number of healthcare systems. Moreover, awareness about the therapeutic benefits of intrathecal pumps for chronic pain management is also increasing. Improved reimbursement policies have made these devices more accessible to patients, contributing to global intrathecal pumps market revenue growth.
Despite many restraining factors impacting the market revenue growth, the high cost of treatment, and limited awareness and accessibility are the major factors challenging the global intrathecal pumps market revenue share.
Market Ecosystem
The global intrathecal pumps market is analyzed from three perspectives: type, application, and region.
Intrathecal Pumps Market by Type
Based on type, the global intrathecal pumps market is segmented into intrathecal ziconotide pumps, intrathecal morphine pumps, intrathecal clonidine pumps, intrathecal bupivacaine pumps, intrathecal baclofen pumps, and others.
The intrathecal morphine pumps segment accounted for most of the global intrathecal pumps market revenue share in 2022. This is attributed to many key advantages associated with intrathecal morphine pumps. Intrathecal morphine pumps offer targeted drug delivery. This targeted drug delivery allows for a lower medication dose compared to oral or systemic administration. In addition, intrathecal morphine pumps are designed for long-term pain management. They can provide continuous pain relief over an extended period, typically several months to years before the pump needs to be refilled or replaced. This long-term pain management capability is especially beneficial for patients with chronic pain conditions that require ongoing and sustained relief.
The intrathecal bupivacaine pumps segment is expected to increase in the forecast period with 5.2% of revenue CAGR. Bupivacaine is a long-acting local anesthetic that provides effective pain control when delivered intrathecally. Intrathecal bupivacaine pumps provide extended pain relief for postoperative pain management, chronic pain conditions, and specific acute pain situations by consistently administering bupivacaine directly to the spinal cord.
Intrathecal Pumps Market by Application
Based on the application, the global intrathecal pumps market is segmented into spasticity pain, and others.
The pain management segment accounted for the majority of revenue share in the global intrathecal pumps market. Intrathecal pumps can provide more effective pain control compared to systemic medications. The pumps can provide superior pain relief by administering medication directly to the spinal cord, resulting in higher drug concentrations at the targeted site of pain. This is especially advantageous for individuals experiencing chronic and severe pain who have not had success with other treatment options.
Moreover, the intrathecal pumps can deliver continuous or programmed intermittent doses of medications over an extended period. This sustained drug delivery can provide long-lasting pain relief and minimize the need for frequent administration of oral medications. Intrathecal pumps are particularly advantageous for chronic patients who require ongoing pain management.
Intrathecal Pumps Market by Region
Based on the region, the intrathecal pumps market is segmented into North America, Europe, Asia Pacific, Latin America, & the Middle East & Africa.
North America accounted for most intrathecal pumps market with 41.25% of the share in 2022. This is majorly attributed to the increasing prevalence of chronic pain conditions, rising awareness and acceptance of intrathecal pumps, and ongoing technological advancements. According to the Centers for Disease Control and Prevention, from 2019 to 2021, the percentage of U.S. adults experiencing chronic pain varied between 20.5% and 21.8%, while the percentage of those with high-impact chronic pain ranged from 6.9% to 7.8% in April 2023. The market is also supported by the high healthcare expenditure in the region and the presence of specialized pain management centers and neurosurgical facilities. Moreover, the European intrathecal pump market is driven by technological advancements in intrathecal pump systems, such as the development of wireless and programmable pumps that allow for more personalized treatment. Additionally, the growing geriatric population in Europe suffering from chronic pain is expected to contribute to the revenue growth of the intrathecal pumps market. The National Center for Biotechnology Information states in 2022 that chronic pain of moderate to severe intensity occurs in 19% of adult Europeans, seriously affecting the quality of their social and working lives.
The Asia Pacific intrathecal pumps market is projected to show a significant growth of 5.4% CAGR in the forecast years. The Asia Pacific region is experiencing significant growth in the global intrathecal pumps market. Factors such as the increasing prevalence of chronic pain conditions, the growing geriatric population, improving healthcare infrastructure, and rising awareness about advanced pain management techniques are driving the market's expansion in this region. According to the National Center for Biotechnology Information, chronic pain among adults in Asian countries ranges from 7.1% to 90.8% in prevalence as of 2023. Moreover, the aging population in countries such as Japan, China, and South Korea is increasing at a significant rate, leading to a higher incidence of age-related chronic pain conditions such as arthritis and neuropathy.
Intrathecal Pumps Market Competitive Landscape
Several companies emphasize development tactics, such as new launches, product approvals, and other elements like patents and events. The market saw acquisition, partnership, and cooperation activities as inorganic development tactics. These initiatives have enabled the expansion of future economic business prospects and increased demand for intrathecal pumps in the global the intrathecal pumps market.
Some of the prominent companies having the largest revenue share in the global intrathecal pumps market are,
Intrathecal Pumps Market Strategic Developments
Intrathecal pumps, or spinal infusion pumps, are medical devices that deliver medications directly into the spinal fluid.
The global intrathecal pumps market was valued at US$ 523.32 million by 2031.
The global intrathecal pumps market has witnessed significant growth in recent years due to increasing technological advancements and rising funding for pharma R&D.
The global intrathecal pumps market is expected to register a revenue CAGR of 4.96% in the forecast period from 2013 to 2031.
North America region dominated the global intrathecal pumps market with 41.25% of revenue share in 2022.
*Insights on financial performance are subject to the availability of information in the public domain