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Intrathecal Pumps Market Advance Technology, Top Key Manufacturers, Competitive Analysis and Development Forecasts to 2024
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Intrathecal pumps are widely used in the treatment of patients suffering from chronic pain without any/minimal side-effects. Economic factors such as, U.S. health insurance policies have boosted the demand of the intrathecal pumps market. Moreover, with advancing technology of the intrathecal pumps, the feasibility and flexibility of these devices have also grown with the current diagnostic methods, which in-turn is driving the intrathecal pumps market. Drugs such as Baclofen and Trihexy-phenidyl, which are used for the treatment of neuro-degeneration with brain iron accumulation and dystonia are not available in oral form, and hence, the demand of technically advanced intrathecal pumps with ability to perform multiple medications via single infusion pump has increased in recent years.
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North America was the largest market for intrathecal pumps in 2014. The market dominance and the growth of the North American market are attributed to supportive health insurance policies by the government, along with the increasing awareness of intrathecal pumps among patients suffering from chronic pain in North America. Europe accounted for the second largest intrathecal pumps market in 2014, owing to the increased medical monitoring of the large population of baby boomers in the region.
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The Asia-Pacific is the fastest growing intrathecal pumps market, among all the geographical segmentation. The Asia-Pacific market is expected to witness a double digit growth in coming years owing to the prevalence of cancer in the developing countries such as India, and China. Moreover, increasing disposable income, strengthening healthcare, infrastructure and supportive government regulation have also benefited in the adoption of advance diagnosis equipment such as intrathecal pumps. Country wise, the U.S. and Canada are two of the largest intrathecal pumps market in North America.
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Some of the major players operating in the global intrathecal pumps market include- Arrow International Medallion Therapeutics Inc., Codman & Shurtleff, Inc., Medtronic, Inc., and Flowonix, Inc., Tricumed GmbH among others.
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