North America Intrathecal Pumps Market

Market Introduction

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 impact of coronavirus in the North American region is expected to show positive results. It is expected that the demand for pain management devices has increased among the geriatric population, as the exposure to chronic pain is more in the geriatric population due to multiple comorbidities and potential immune suppression. In addition, the demand is projected to grow among the people suffering from Covid-19 infection. Further in North America, the COVID-19 pandemic has disrupted scientific research activities significantly. Research Laboratories have been forced to shut down. Researchers have been advised to work from home. On the other hand, the outbreak of pandemic has significantly affected the supply chain of medical devices. Governments across the world have imposed a lockdown for various days. Limited production of medical devices was allowed to continue. Therefore, it is estimated that the supply of pain management devices would be very less in the region. Hence, owing to the outbreak of the Covide-19 pandemic, the market is likely to experience a slow growth rate during the forecast period.

North America Intrathecal Pumps Strategic Insights

Strategic insights for the North America 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.

North America Intrathecal Pumps Report Scope

North America Intrathecal Pumps Regional Insights

The geographic scope of the North America 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 North America is expected to grow from US$ 137.0 million in 2021 to US$ 201.8 million by 2028; it is estimated to grow at a CAGR of 5.7% from 2021 to 2028. The rise in geriatric population in developed and developing countries is driven by modernization of healthcare facilities and improvements in healthcare services, which has boosted the life expectancy in these countries. According to data by the World Health Organization (WHO) in February 2018, geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. Moreover, underdeveloped and developing countries would account for ~80% of this growth. A majority of elderly people live with chronic pain, resulting in reduced strength to perform their daily tasks. They suffer from spine and neck injuries, chronic spinal pain, neck pain, and abdominal pain; cancer; and other chronic disorders leading to pain. Therefore, the demand for pain management devices is higher among geriatric population, which is likely to boost the intrathecal pumps market growth.

Key Market Segments

In terms of type, the constant rate pump segment accounted for the largest share of the North America intrathecal pumps market in 2020. In terms of application, the chronic pain segment accounted for the largest share of the North America intrathecal pumps market in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the intrathecal pumps market in North America 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, Flowonix Medical Inc., Teleflex Incorporated, Johnson and Johnson Services, Inc., Durect Corporation, Medallion Therapeutics, Inc., Abbott, and Baxter International Inc.

Reasons to buy report

• To understand the North America Intrathecal pumps market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America Intrathecal pumps market
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• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America Intrathecal pumps market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

NORTH AMERICA INTRATHECAL PUMPS MARKET SEGMENTATION

By Type

• Constant Rate Pumps
• Programmable Pumps

By Application

•  Chronic Pain
• Spasticity Management

By Country

• North America
  • US
  • Canada
  • Mexico

Companies Mentioned

1. Medtronic
2. Smiths Medical
3. Flowonix Medical Inc.
4. Teleflex Incorporated
5. Johnson and Johnson Services, Inc.
6. Durect Corporation
7. Medallion Therapeutics, Inc.                            
8. Abbott
9. Baxter International Inc.