Intrathecal Pumps Market : Growth, Capacity, Scope, Revenue, Key-Players, and Forecast until 2014 - 2020
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TMR envisages the global intrathecal pumps market to reach a valuation of US$0.26 bn by the completion of 2020. In terms of application, pain management could take a commanding position in the market. By region, North America is foreseen to lead the market with its larger share.
Intrathecal Pumps Win Preference in Long-term Treatment, Gathering High Demand
Adoption of intrathecal pumps is envisioned to improve with technological advancement witnessed in the global market. Developments in technology have paved the way for the introduction of advanced products with sophisticated features. Demand for intrathecal infusion pumps could increase while riding on expanding base of patients with cancer and other chronic diseases. Long-term treatments requiring drugs to be infused for an extended period of time could increase the demand in the world intrathecal pumps market. Players are expected to testify a dramatic expansion of the market due to rise in demand for more advanced infusion systems with swelling prevalence of chronic diseases.
Approximately, 20-30% of the U.S. population is affected by chronic diseases, mentions the TMR report. In this regard, it could be said that North America may win a higher market share followed by that of Europe. On the other hand, emerging regions such as Asia Pacific are projected to create rewarding prospects in the market, especially in China and India.
Demand at Mercy of System Modifications to Ensure Accurate Drug Administration
Technological advancement has given a much needed boost to the international intrathecal pumps market in terms of growth. However, stability issues could create a drawback in the market since multiple medications may be required to administer in varying concentrations and precise dosages. This raises the need for more improvements on the part of intrathecal pumps for accurately administering drugs with no or at least negligible errors. Furthermore, medical complications and risks associated with the use of intrathecal pumps could discourage the market from achieving its true potential.
However, unmet medical needs despite the availability of oral therapies are predicted to give rise to lucrative prospects in the international intrathecal pumps market. Moreover, increase in awareness about the need for technological advancement and proper diagnosis for effective treatment of chronic diseases could improve demand for intrathecal pumps during the course of the forecast period.
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The information presented in this review is based on a TMR report, titled “Intrathecal Pumps Market (Application – Pain Management and Spasticity Management) – Global Industry Analysis, Size, Share, Procedures, Growth, Trends and Forecast, 2014 – 2020.”
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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