Transparency Market Research Report Added “Intrathecal Pumps Market (Pain and Spasticity Management, Payer Breakdown for Reimbursement and Drugs in Intrathecal Pumps) ” to its database.
Intrathecal Pumps Market: Discription
The report on intrathecal pumps market analyzes the current as well as future prospects and various facets of the market in detail. Intrathecal infusion pumps are used to deliver therapeutic doses of drugs for pain and spasticity, into a patient’s body, particular in the spine at a precisely controlled rate. The global intrathecal pumps market has witnessed significant growth in the past due to worldwide increase in number of patients with chronic pain and cancer pain. This report provides an in-depth and comprehensive analysis of the global intrathecal pumps market. The research covers current as well as future prospects of the market globally. It includes an exhaustive executive summary, which covers a market snapshot that provides information of various segments such as applications (pain and spasticity) and geography (North America, Europe, Asia-Pacific and Rest of the World).
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For the research on this topic, we conducted in-depth interviews and discussions with a wide range of key opinion leaders within intrathecal pumps market, which was supplemented by extensive secondary research. The market assessment and forecast in terms of revenue (USD million) and number of procedures for each segment of intrathecal pumps market have been provided for the period 2012 to 2020, considering 2013 as the base year. The report also provides the compounded annual growth rate (CAGR %) for the global intrathecal pumps market and each sub-segment, for the forecast period 2014 to 2020. Growth rates for each segment within the global intrathecal pumps market have been determined after thorough analysis of past trends, demographics, future trends, technological developments, regulatory requirements.
Intrathecal Pumps Market: Overview
Intrathecal pump is a surgically implanted system used to infuse potent medication directly into or around the spinal cord. These pumps are typically intended for use in chronic pain and spasticity management for delivering potent medicines in the intrathecal space which allows administration of drugs in very low doses. This significantly reduces the side effects associated with the drugs. The global intrathecal pumps market was valued at USD 199.8 million in 2013, and is expected to grow at a CAGR of 4.1% to reach an estimated value of 264.8 million by 2020.
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The global intrathecal pumps market is witnessing healthy growth amidst the frequent product recalls. Driving factor for the market growth is the device’s ability to reduce debilitating pain and drug administration in low doses. This benefits patients with lesser side effects and more rapid therapeutic effects compared to other forms of medication. Chronic pain affecting approximately 20% to 30% of the U.S. population is the largest driver for intrathecal pumps. The prevalence of chronic pain is also severe in other parts of the world. In 2013, the market for these pumps was largely driven by demand for treating chronic pain and this application alone contributed to more than two-third of the total market revenue. The pain management application is expected to maintain its top position during the forecast period from 2014 to 2020 due to large untapped patient base and wider side effects of existing opioid analgesics administered via routes other than intrathecal.
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