The global intrathecal pumps market, valued at approximately USD 231.5 million in 2022, is expected to witness steady growth over the next decade. With a projected Compound Annual Growth Rate (CAGR) of 5.2%, the market is on track to reach an estimated valuation of USD 383.5 million by the end of 2032.
Intrathecal pumps are gaining traction in the medical field due to their efficiency in delivering medication directly to the spinal cord, requiring significantly lower doses compared to oral drugs. This results in fewer side effects and more effective pain management, making intrathecal pumps a preferred option for patients with chronic pain or spasticity conditions, particularly in cases of cancer pain or severe muscle spasms caused by conditions such as multiple sclerosis or cerebral palsy.
The rising demand for targeted pain management solutions, along with increasing awareness of the benefits of intrathecal drug delivery, is expected to fuel market growth. As healthcare systems worldwide seek more efficient treatment methods, the intrathecal pumps market is poised for sustained expansion.
The United States will hold the largest share of the market throughout the Analysis Period
From 2022 to 2032, the Intrathecal Pumps Market is estimated to develop at a CAGR of 5.2% in the United States. The CAGR for the growth of the intrathecal pump market from 2017 to 2021 was 3.5%. According to a research by the American Cancer Society, in 2021, over 24 thousand people in the United States experienced a malignant tumor of the brain or spinal cord.
There are now significantly more cancer patients, according to a report recently published by the WHO’s International Agency for Research on Cancer. There are around 14.1 Million cancer patients, according to estimates. Additionally, it was determined that 8.2 Million individuals will lose their lives to cancer each year. The market for intrathecal pumps is expected to rise in the future due to the increase in cancer cases.
Intrathecal Pumps Market: Competition Insights
Some of the key companies operating in the Intrathecal Pumps Market include Medtronic, Smiths Medical, Flowonix Medical Inc., tricumed Medizintechnik GmbH, Teleflex Incorporated, Johnson and Johnson Services, Inc., Durect Corporation, Medallion Therapeutics, Inc., Abbott, Baxter International Inc., Codman & Shurtleff, Inc., DePay Synthes, Summit Medical Group, B Braun Melsungen AG, Becton, Dickinson & Company and Fresenius Medical Care AG & Co. KGaA., and Zimmer Biomet.
Some of the recent developments by key providers of the Intrathecal Pumps Market are as follows:
- In January 2021, a US$ 33 Million award was given to Flowonix Medical, a U.S.-based medical device business that specializes in implanted medication delivery systems. A US$ 10 Million debt facility was given as part of the deal by SWK Holdings (SWKH), a specialized finance firm that works with small- and mid-sized commercial-stage life-science enterprises.
- In October 2020, in order to reinforce safety advice regarding proper cleaning procedures for the pumps, Baxter International Inc. issued an urgent device correction for all of its spectrum infusion pumps. The failure to follow the prescribed cleaning procedures reduced the efficiency and effectiveness of the pumps.
- In February 2020, a 40 ml pump for intrathecal drug delivery was introduced by Flowonix Medical. It uses a pressure-driven, valve-gated delivery mechanism and has a battery life of more than 10 years, reducing the need for additional surgical procedures.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the intrathecal pumps market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by Type (Baclofen, Bupivacaine, Clonidine, Morphine, Ziconotide, and Other Types), By Application (Spasticity and Pain), across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
Key Segments Covered in Intrathecal Pumps Market Survey
By Type:
- Baclofen
- Bupivacaine
- Clonidine
- Morphine
- Ziconotide
- Other Types
By Application:
- Spasticity
- Pain
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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