Spinal Pumps Market Size – USD 238.2 million in 2018, Market Growth - CAGR of 5.6%, Spinal Pumps Industry Trends – Product launches and research for advanced products

New York, Nov. 13, 2019 (GLOBE NEWSWIRE) -- Technological innovations and combination of external devices with pumps, government initiatives, improving healthcare infrastructure, and the large patient base and Rise in chronic diseases in geriatric population are key factors contributing to high CAGR during the forecast period.

According to the current analysis of Reports and Data, the global Spinal pumps market was valued at USD 238.2 million in 2018 and is expected to reach USD 368.4 million by the year 2026, at a CAGR of 5.6 %. Spinal pumps are intrathecal drug delivery systems which provide anesthesia and analgesia. ITDD systems consists of a catheter attached to a pump, and the pump is an external device or an implanted system that involves therapy and drug diagnosis.

Spinal pumps market is driven by the rising prevalence of sclerosis, movement disorders, spinal and brain injuries, and cerebral palsy. Increase in geriatric population and long-term therapy comprising spinal pump devices and brain injuries is likely to boosts the industrial growth during the forecast period. A rise in chronic diseases in geriatric population and development of medical device and equipment is likely to contribute to market growth during the forecast period.

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Technological innovations and combination of external devices with pumps that enable low medication dosages accelerates the market growth for the forecast period. Favorable government initiatives, improving healthcare infrastructure, and the large patient base, is projected to support the spinal pump industrial growth in developing regions such as India and China. In November 2014, Tricumed Medizintechnik GmbH launched the implantable, programmable infusion pump for baclofen therapy. Some of the side effects, such as a fluid leak, severe skin reactions, and headache, are expected to hamper market growth.

Further key findings from the report suggest

• Intrathecal baclofen (ITB) pump implantation can be used to control dystonia and severe pain associated with complex regional pain syndrome (CRPS). CRPS is associated with dysregulation of the central nervous system (CNS), peripheral nervous system, and autonomic nervous system. The pathophysiology and best course of treatment for CRPS are undetermined, and treatment is evolving. Intrathecal baclofen (ITB) pumps have been used to ameliorate global pain in patients with CRPS and dystonia based on the anti-nociceptive effects of ITB.
• Medtronic plc and Samsung Electronics Co., Ltd. declared their collaborative agreement to develop health solutions in the area of neuromodulation.
• The pain management category led the application segment of this industry with the largest revenue share at over 69.4%, due to to the increasing preference for long-term relief alternatives and the high prescription prices associated with conventional opioid drugs used in pain management.
• Spasticity management is growing at the fastest CAGR at over 3.8% throughout the forecast period. The reason for this is rising government initiatives and recommendations, such as by the British Pain Society to promote effective drug delivery in the treatment of spasticity in adults.
• An intrathecal pump can be used to deliver different medications into the intrathecal sac around the spinal cord. Most commonly, the medication is either an opioid for pain, or baclofen for spasticity due to spinal cord injury. The use of intrathecal pumps allow medication to be given in smaller doses because it does not have to be absorbed through the intestines, like a drug taken orally, and then pass through the liver before circulating to the target area.
• The High R&D intensity aimed at developing technologically advanced products is expected to propel the industry growth in the North America region, with the largest revenue share of 54.4%.
• Around 80% of the patient base with cerebral palsy (CP) most often suffers from CP-related spasticity to a certain degree. The statistics above exhibit the clinical urgency to treat spasticity, thus impelling the industry demand during the forecast period.
• Low patient compliance, the high long-term associated costs, and the rising cases of relapse associated with conventional medication methods used in the treatment of spasticity and chronic pain are expected to present the spinal pumps market with high growth potential.
• Maintenance of the pump is fairly routine. The pump is refilled every 1 to 3 months by inserting a needle through the skin and through a diaphragm on the surface of the pump. Several medications can be administered this way, and even combinations of drugs might be used. Because the whole system is under the skin, the risk of infection is minimized and the patient can be fully mobile and active.
• The non-malignant pain category dominated the overall pain management segment due largely to it being the major burden globally.
• Hospitals end-use segment is dominating the industry with largest share due to the increasing demand of patients for spinal pumps.
• Some major players are DePuy Synthes, FlowonixMedical, Inc., Medtronic Plc, Tricumed Medizintechnik GmbH, and Teleflex, Inc.

To identify the key trends in the industry, click on the link below:   https://www.reportsanddata.com/report-detail/spinal-pumps-market

Segments covered in the report:

For this report, Reports and Data have segmented the Spinal pumps market based on applications, end-use, and region:                     

Applications (Revenue, USD Million; 2016–2026)

• Spasticity Management
• Pain Management
  • Non-Malignant Pain
  • Malignant Pain

End-Use (Revenue, USD Million; 2016–2026)     

• Hospital
• Clinic
• ASCs
• Long term care centers
• Others

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Regional Outlook (Revenue in USD Million; 2016–2026)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of the Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia-Pacific
• Middle East & Africa
  • Latin America
• Brazil

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