About the Intrathecal Pumps Market
Intrathecal pumps are a category of analgesic infusion pumps that deliver medication into the individual's body for pain management. The intrathecal drug delivery pump is a method of giving medication directly to the spinal cord to stop pain signals from being perceived by the brain. These pumps are small-sized implantable infusion devices. The intrathecal pumps delivery method can minimize chronic pain and trauma caused by several chronic diseases such as cancer and multiple sclerosis. It consists of small pump or reservoir that is surgically located under the skin of the abdomen and transports medication through a catheter to intrathecal space or subarachnoid space.
Technavio’s analysts forecast the global intrathecal pumps market to grow at a CAGR of 4.27% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global intrathecal pumps market for 2016-2020. To calculate the market size, Technavio uses revenue generated from the sales of intrathecal pumps.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Intrathecal Pumps Market 2016-2020
Technavio recognizes the following companies as the key players in the global intrathecal pumps market: Codman & Shurtleff, Flowonix Medical, Medtronic, and Teleflex.
Other Prominent Vendors in the market are: Advanced Bionics, Advance Neuromodulation System, Baxter, Boston Scientific, DJO Global, Dynacast, Inteprod, Medallion Therapeutics, Medasys, Perlong Medical Equipment, Qinhuangdao Sanwin Trading, Smiths Medical, St. Jude Medical, Stryker and Tricumed.
Commenting on the report, an analyst from Technavio’s team said: “An important trend which will have a big impact on market growth is the expanding application of intathecal pumps and the ability to customize medication doses. There has been a growing usage of intrathecal pumps worldwide. The use of intrathecal medication has emerged as a feasible option for the long-term treatment of cancer-related pain. The use of this therapy has grown significantly for chronic non-cancer pain, particularly for the treatment of chronic back pain. The therapy was most commonly preferred over traditional treatment due to its effectiveness, affordability, and better results. The positive results of insulin pumps have become popular among the pain population and is gaining increased acceptance to treat chronic pain.”
According to the report, a key growth driver is the favorable response from insurance companies. The healthcare insurance programs such as Medicare are driving the market. Several indications for treatment using infusion pumps are covered under this program. Morphine infusion through an external infusion pump is covered when used in the treatment of intractable pain due to cancer (in an inpatient or outpatient setting, including a hospice). An implantable infusion pump is covered under this program when used to administer anti-spasmodic drugs such as baclofen intrathecally to treat chronic intractable spasticity in people who have proven unresponsive to less invasive medical therapy. It also covers opioid drugs for the treatment of chronic intractable pain.
Further, the report states that one challenge that could hamper market growth is the limited number of approved medications that can be administered through intrathecal pumps.
Codman & Shurtleff, Flowonix Medical, Medtronic, Teleflex, Advanced Bionics, Advance Neuromodulation System, Baxter, Boston Scientific, DJO Global, Dynacast, Inteprod, Medallion Therapeutics, Medasys, Perlong Medical Equipment, Qinhuangdao Sanwin Trading, Smiths Medical, St. Jude Medical, Stryker, Tricumed.
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