Intrathecal Pumps Market Size [2023-2030] | Industry Share, Revenue, Key Players, CAGR, Demand and Forecast

Companies Profiled in the Intrathecal Pumps Market Are Tricumed Medizintechnik GmbH ,Medallion Therapeutics, Inc., Johnson & Johnson Services, Inc., Medtronic, Teleflex Incorporated, FLOWONIX MEDICAL INC.

Pune, India, March 09, 2023 (GLOBE NEWSWIRE) — According to a study released in the New England Journal, approximately 67% of cancer patients experience pain and require effective pain management devices urgently. Intrathecal pumps may offer a feasible solution to this problem since they are a more efficient method of administering analgesics, which can alleviate pain and reduce medication side effects. As a result, the advantages of these devices in pain management are likely to become one of the primary trends in the Intrathecal Pumps Market in the upcoming years.

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Report Scope of Intrathecal Pumps Market:

Key Industry Development:

The initial participant was registered in Medtronic’s Embrace TDD clinical trial, which intends to evaluate the effectiveness of the company’s SynchroMed(TM) II intrathecal drug delivery system. If the system proves successful, it could offer a viable substitute for opioids for individuals with chronic back pain.

Key Takeaways from the Intrathecal Pumps Market:

• Medical devices known as intrathecal pumps are utilized through an intrathecal catheter to administer the medication directly into the intrathecal space.
• The rising occurrence of acute and chronic illnesses is one of the significant factors propelling the global intrathecal pumps market growth.
• Currently, North America and Europe are the two biggest markets for intrathecal pumps.

The report by Fortune Business Insights™ offers the following:

• A comprehensive analysis of the factors that impact the market’s share, size, and revenue from all angles;
• Precise forecasting of future market trends and opportunities;
• Accurate calculation of market values; and
• Extensive research into the competitive and regional dynamics of the market, as well as a detailed examination of market segments.

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Drivers & Restraints:

Although intrathecal pumps have demonstrated effectiveness in pain management for patients with chronic illnesses, particularly cancer patients, there are risks involved that must be considered. The surgical placement of intrathecal pumps, for example, can result in bleeding in the epidural space, which may cause neurological complications. If the catheter neck of this device breaks and begins to leak, the placement of these pumps in the abdominal region can be problematic. Additionally, nerve roots can be harmed as a result of the positioning of these pumps in the spinal cords through fluoroscopy, resulting in weakness, pain, and sensory loss. Long-term neurological harm is also a possibility. As a result, there are significant risks associated with the placement of these catheters, which could impede the growth of the intrathecal pumps market during the forecast period.

Segments:

REGIONAL INSIGHTS

The North American market is expected to be driven by a high prevalence of chronic illnesses.

The global Intrathecal Pumps Market is divided geographically into Europe, North America, Latin America, the Middle East and Africa, and Asia Pacific. In 2017, North America dominated the global Intrathecal Pumps Market due to a combination of factors such as a rise in the geriatric population, advancements in computer applications, and extensive knowledge of healthcare. However, Asia Pacific and the Middle East and Africa are expected to experience significant growth during the forecast period. The governments and non-profit organizations in these regions are investing heavily in electronic health record systems. Additionally, the limited availability of clinical processes and the growing demand for intelligent software tools are expected to drive the Intrathecal Pumps Market in these regions.

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Competitive Landscape

Key players are expected to focus their attention on intensive research.

According to the intrathecal pumps market forecast, major companies are anticipated to actively develop new products through clinical studies. This approach will allow them to expand their product range and establish a devoted customer base.

List of Key Players Profiled in the Global Intrathecal Pumps Market:

• Medallion Therapeutics, Inc.
• Medtronic
• Teleflex Incorporated
• Tricumed Medizintechnik GmbH 
• FLOWONIX MEDICAL INC.
• Johnson & Johnson Services, Inc.

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FAQ:

What are intrathecal pumps used for?

Medical devices called intrathecal pumps are utilized through an intrathecal catheter to deliver medication directly into the intrathecal space.

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