Spinal Pumps Market Size Worth $0.42 Billion By 2025 | CAGR: 5.3%
Published Date : 15 / 12 / 17 | Report Format: PDF
The global spinal pumps market is expected to grow at growth rate of 5.3% to reach USD 0.42 billion by 2025.
The drug delivery through the spinal pump is indicated when oral administration or other drug delivery mechanism does not provide sufficient relive from neuropathic pain. Spinal pump therapy enables to reduce pain without extensive surgical intervention. The spinal pump comprises an intrathecal catheter (small plastic tube) which is connected to a drug reservoir (space inside the pump which holds the medication). Drug delivery through the spinal pump is an evolving at a rapid pace and is accepted by a physician and in hospital, clinics across the globe. It is because of its ability to deliver the required drug to spinal cord receptor sites in adequate quantity to produce a better clinical effect.
Compared to the oral route of administration, an intrathecal mechanism is considered to be an efficient drug delivery due to its ability to deliver medicine directly into the cerebrospinal fluid (CSF). This technique helps the patient to reduce chronic pain caused by cancer, causalgia, back surgery syndrome, chronic pancreatitis, arachnoiditis, and others.
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- Increasing number of patients suffering from movement disorders such as multiple sclerosis, and cerebral palsy and intractable pain associated with cancers drive the market growth to great extent. As per the World Health Organization (WHO), around 250,000 to 500,000 population suffer from spinal cord related injury every year globally.
- Advancement in technologies is another driving factor for the growth of this market. The emergence of programmable infusion pumps, micro-dose infusions, and patient-controlled devices are new technologies developed in recent time. For instance, Medtronic introduced fully implanted programmable pump named “SynchroMed II infusion system”. This device is featured with diamond-like carbon coating (DLC) which improve its performance.
- Spasticity Management accounted for 28% share of the total market owing to the rising incidence of this disorder
- North America and Europe led the global market. In 2017, these regions collectively accounted for 79.89% share of worldwide revenue
- Favorable government initiatives, improving healthcare infrastructure, and the large patient base is projected to support the spinal pump market growth in developing regions such as India and China
- Strategic alliances with local or small-scale players are one of the strategies by key players to sustain in this market. For instance, in December 2015, Medtronic and Samsung announced to enter into a strategic alliance to develop connected health solutions in the treatment of neuro-modulation patients and healthcare providers.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY APPLICATION
- Spasticity Management
- Pain Management
- Non-malignant pain
- Malignant pain
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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