Intrathecal pumps devices are used for specific transfer of drug doses in the human body particularly, especially within spinal cord. The advancement in the accuracy of these devices has increased the demand of Intrathecal Pumps in recent years.
Intrathecal pumps are widely used in the treatment of patients suffering from chronic pain without any/minimal side-effects. Economic factors such as, U.S. health insurance policies have boosted the demand of the intrathecal pumps market. Moreover, with advancing technology of the intrathecal pumps, the feasibility and flexibility of these devices have also grown with the current diagnostic methods, which in-turn is driving the intrathecal pumps market. Drugs such as Baclofen and Trihexy-phenidyl, which are used for the treatment of neuro-degeneration with brain iron accumulation and dystonia are not available in oral form, and hence, the demand of technically advanced intrathecal pumps with ability to perform multiple medications via single infusion pump has increased in recent years.
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The Asia-Pacific is the fastest growing intrathecal pumps market, among all the geographical segmentation. The Asia-Pacific market is expected to witness a double digit growth in coming years owing to the prevalence of cancer in the developing countries such as India, and China. Moreover, increasing disposable income, strengthening healthcare, infrastructure and supportive government regulation have also benefited in the adoption of advance diagnosis equipment such as intrathecal pumps. Country wise, the U.S. and Canada are two of the largest intrathecal pumps market in North America. Also, Germany, Italy, France, U.K and Spain are some of the significant countries, which have played a massive role in escalating the Intrathecal pumps market of Europe. In Asia Pacific- Japan, China, and India are the major intrathecal pumps market.
Recently Flowonix Medical Inc., has launched a ‘Prometra’ intrathecal pump, featuring accurate drug delivery mechanism, dual-gated valve drug delivery and increased device longevity. Rising merger and accusation (M&A) activity and market consolidation in the global intrathecal pump market is expected to drive the intrathecal pump market during the forecast period.
Some of the major players operating in the global intrathecal pumps market include- Arrow International Medallion Therapeutics Inc., Codman & Shurtleff, Inc., Medtronic, Inc., and Flowonix, Inc., Tricumed GmbH among others.
