Europe Intrathecal Pumps Market
An intrathecal pump is a high accuracy medical device works to relieve chronic pain by inserting small amount of medicine directly into the intrathecal space. Intrathecal space is an area surrounding the spinal cord. Intrathecal Pumps prevent the pain signals from being perceived by the brain. The pump is surgically placed under the abdominal skin and delivers pain medication through a catheter to the area around your spinal cord.
Thus, the increasing prevalence of cancer and other chronic conditions are expected to create a significant demand for intrathecal pumps in the coming years, which is further anticipated to drive the intrathecal pumps market.
The intrathecal pumps market witnessed some shortfall at the beginning of COVID-19 crisis owing to factors such as disruption in supply chain and demand due to lock down announced by majority of European countries. Due to outbreak, most industries around the world have been negatively affected. This can be attributed to various preventive lockdowns and other restrictions imposed by government authorities around the world, which have experienced major disruptions in their respective manufacturing and supply chain operations. This also applies to the Europe market for intrathecal pumps. Furthermore, consumer demand has also decreased, because the general economic conditions of most of the people have been severely affected by this epidemic, and people are now more interested in eliminating unnecessary expenses from their respective budgets. However, as the respective government authorities begin to lift these mandatory lockdowns, the Europe intrathecal pump market is expected to rebound accordingly.
Strategic insights for the Europe Intrathecal Pumps provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 108.2 Million |
| Market Size by 2028 | US$ 150.5 Million |
| Global CAGR (2021 - 2028) | 4.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Intrathecal Pumps refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Intrathecal pumps market in Europe is expected to grow from US$ 108.2 million in 2021 to US$ 150.5 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028. The emergence of the Internet of Things in medical devices is further supporting product innovations. The mobile applications assist well in pain management. For instance, Medtronic unveiled its SynchroMed with intent to empower patients experiencing continuous pain to quit taking systemic opioids. The implant releases drugs into the intrathecal space around the spinal line. A study published in 2015 indicated that 68% of patients with chronic pain quit taking systemic opioids in the month subsequent to receiving the implant. The rate further surged to 84% and 92% in the next one year and five years, respectively. Besides, the use of mobile applications has assisted healthcare professionals to analyze the user’s sleep and activity patterns. Using these insights, personal data related to the sensation of pain can be examined and treated.
In terms of type, the constant rate pump segment accounted for the largest share of the Europe intrathecal pumps market in 2020. In terms of application, the chronic pain segment accounted for the largest share of the Europe intrathecal pumps market in 2020.
A few major primary and secondary sources referred to for preparing this report on the intrathecal pumps market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Medtronic, Smiths Medical, Teleflex Incorporated, Johnson and Johnson Services, Inc., Durect Corporation, tricumed Medizintechnik GmbH, Abbott, and Baxter International Inc.
By Type
By Application
By Country
The Europe Intrathecal Pumps Market is valued at US$ 108.2 Million in 2021, it is projected to reach US$ 150.5 Million by 2028.
As per our report Europe Intrathecal Pumps Market, the market size is valued at US$ 108.2 Million in 2021, projecting it to reach US$ 150.5 Million by 2028. This translates to a CAGR of approximately 4.8% during the forecast period.
The Europe Intrathecal Pumps Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Intrathecal Pumps Market report:
The Europe Intrathecal Pumps Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Intrathecal Pumps Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Intrathecal Pumps Market value chain can benefit from the information contained in a comprehensive market report.
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