Intrathecal Pumps Market to Rise at Over 4.5% CAGR from 2022 to 2031, Reaching a Valuation of US$ 405.6 Million: TMR Report

The global𝐢𝐧𝐭𝐫𝐚𝐭𝐡𝐞𝐜𝐚𝐥 𝐩𝐚𝐢𝐧 𝐩𝐮𝐦𝐩 𝐢𝐦𝐩𝐥𝐚𝐧𝐭𝐬 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲, valued at US$ 272.1 Mn in 2021, is poised for substantial growth, projected to achieve a CAGR of 4.5% from 2022 to 2031, reaching over US$ 405.6 Mn by 2031.

These implants offer a potent solution for alleviating debilitating pain and administering medication in low doses, boasting fewer side-effects and faster therapeutic action compared to conventional medication methods. In the United States, the increasing population afflicted with chronic pain is fueling demand for intrathecal pumps, with a similar trend observed globally. As the prevalence of chronic pain continues to rise worldwide, the surge in demand for intrathecal pump implants is anticipated to drive significant market advancement in the coming years.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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Intrathecal pumps are implantable infusion devices surgically placed under the patient's skin in the abdomen. These can deliver medication through a small flexible tube, called a catheter, to the spine. These intrathecal drug pain pump implants are capable of delivering precise doses of medication from one or any combination of reservoirs without complex pumping, and are generally opted when a patient seeks long-term medication and other alternatives are expensive or less effective.

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

Medtronic, Inc., Flowonix, Inc., and Tricumed Medizintechnik GmbH

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐓𝐲𝐩𝐞

Programmable
Constant Rate
Application
Chronic Pain
Spasticity Management

𝐄𝐧𝐝-𝐮𝐬𝐞𝐫

Hospitals
Ambulatory Surgical Centers
Others

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In February 2020, Flowonix Medical, Inc. announced the U.S. Food and Drug Administration (FDA) marketing approval for Prometra II Programmable Pump System for use with intrathecal baclofen. The company introduced the Prometra II 40mL pump in the U.S. in November 2019.

In October 2019, the FDA classified the recall of Medtronic's SynchroMed II implantable drug pumps as Class I, the most serious type of recall. The company announced the voluntary recall in October, indicating that it had received complaints about the pumps' motors stalling permanently.

In March 2019, the U.S. Food and Drug Administration (FDA) ordered Flowonix Medical, Inc. to recall Prometra II Programmable Pump from the market. Increase in Error 115 occurrences was noted due to a software associated with the pumps.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

North America accounted for largest share of the global market for intrathecal pumps in 2021. The region is anticipated to dominate the industry during the forecast period. Surge in demand for intrathecal procedures, high prevalence of cancer & chronic pain, and technological advancements are driving market expansion in the region. The U.S. is a growth engine of the market in North America due to the implementation of favorable reimbursement policies for intrathecal procedures.

Europe was the second largest market in 2021. Favorable regulatory & reimbursement scenarios and approval of intrathecal devices are expected to propel intrathecal pumps market growth in the region. 

The market in Asia Pacific is projected to grow at a rapid pace during the forecast period. This is ascribed to growing economy and strengthening insurance policies. Economic growth in developing countries in the region is expected to increase the disposable income of the patient population, which in turn is likely to propel healthcare expenditure.

𝐏𝐥𝐚𝐜𝐞 𝐚𝐧 𝐎𝐫𝐝𝐞𝐫 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:
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𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫𝐬 𝐚𝐧𝐝 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬:

Drivers:

Increasing prevalence of chronic pain conditions, technological advancements in intrathecal pump systems, growing geriatric population, and rising demand for minimally invasive pain management techniques.

Challenges:

High cost associated with intrathecal pump therapy, potential complications such as device malfunction or infection, and limited availability of skilled professionals for implantation and maintenance procedures.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Integration of advanced features such as wireless connectivity and programmable drug delivery systems.
Focus on developing implantable pumps with longer battery life and improved reliability.
Collaboration between medical device manufacturers and pharmaceutical companies to develop customized drug formulations for intrathecal administration.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The future of the intrathecal pumps market looks promising, with ongoing research and development efforts aimed at enhancing device functionality and expanding application areas. Technological innovations, coupled with growing acceptance of intrathecal pump therapy among patients and healthcare providers, are expected to drive market growth in the coming years.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Market dynamics analysis, including drivers, restraints, opportunities, and challenges.
Competitive landscape assessment, profiling key players and their strategies.
Regulatory framework analysis and impact assessment on market dynamics.
Market segmentation analysis based on various parameters such as service type, application, and region.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐍𝐞𝐰𝐛𝐨𝐫𝐧 𝐒𝐜𝐫𝐞𝐞𝐧𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/11/2666730/0/en/Newborn-Screening-Market-to-Reach-USD-3-3-Bn-CAGR-of-11-from-2021-to-2031-As-per-TMR-Study.html

𝐂𝐚𝐧𝐜𝐞𝐫 𝐈𝐦𝐦𝐮𝐧𝐨𝐭𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/11/2666469/0/en/Cancer-Immunotherapy-Market-to-reach-USD-261-7-Bn-in-2031-expanding-at-a-CAGR-of-13-6-TMR-Report.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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