Market Introduction
An intrathecal pump is a high accuracy medical device works to relieve chronic pain by inserting small amount of medicine directly into the intrathecal space. Intrathecal space is an area surrounding the spinal cord. Intrathecal Pumps prevent the pain signals from being perceived by the brain. The pump is surgically placed under the abdominal skin and delivers pain medication through a catheter to the area around your spinal cord.
Thus, the increasing prevalence of cancer and other chronic conditions are expected to create a significant demand for intrathecal pumps in the coming years, which is further anticipated to drive the intrathecal pumps market.
The Asia Pacific region is affected greatly by the Covid-19 pandemic; the rise of the coronavirus has been seen from China. Countries such as China, India, and South Korea is highly affected, and thus facing a significant slowdown in their economies. The countries’ healthcare industry has badly affected; various companies have closed their manufacturing plants from China. Similarly, in India, the production of pharmaceutical drugs and personal protective equipment has been increased. In addition, due to lockdown, transportation has been closed completely, which has impacted the trade business from Asia, Europe, and North America. The medical device sector in China has faced a significant impact, as it was a manufacturing hub for various international companies. Restrictive measures have been taken to control the spread of this pandemic, however, in these measures’ cancer patients are not being treated on priority. Apart from overall health system, cancer care delivery system has been facing challenges due to coronavirus outbreak. The unfortunate outbreak of coronavirus has hindered market growth negatively.
Market Overview and Dynamics
The Intrathecal pumps market in Asia Pacific is expected to grow from US$ 70.5 million in 2021 to US$ 106.5 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The rise in geriatric population in developed and developing countries is driven by modernization of healthcare facilities and improvements in healthcare services, which has boosted the life expectancy in these countries. According to data by the World Health Organization (WHO) in February 2018, geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. Moreover, underdeveloped and developing countries would account for ~80% of this growth. A majority of elderly people live with chronic pain, resulting in reduced strength to perform their daily tasks. They suffer from spine and neck injuries, chronic spinal pain, neck pain, and abdominal pain; cancer; and other chronic disorders leading to pain. Therefore, the demand for pain management devices is higher among geriatric population, which is likely to boost the intrathecal pumps market growth.
Key Market Segments
In terms of type, the constant rate pump segment accounted for the largest share of the Asia Pacific intrathecal pumps market in 2020. In terms of application, the chronic pain segment accounted for the largest share of the Asia Pacific intrathecal pumps market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the intrathecal pumps market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Medtronic, Smiths Medical, Teleflex Incorporated, Johnson and Johnson Services, Inc., Durect Corporation, Abbott, and Baxter International Inc.
Reasons to buy report
- To understand the Asia Pacific Intrathecal pumps market landscape and identify market segments that are most likely to guarantee a strong return
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific Intrathecal pumps market
- Obtain market revenue forecast for market by various segments from 2021-2028 in Asia Pacific region.
ASIA PACIFIC INTRATHECAL PUMPS MARKET SEGMENTATION
By Type
- Constant Rate Pumps
- Programmable Pumps
By Application
- Chronic Pain
- Spasticity Management
By Country
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Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
Companies Mentioned
- Medtronic
- Smiths Medical
- Teleflex Incorporated
- Johnson and Johnson Services, Inc.
- Durect Corporation
- Abbott
- Baxter International Inc.
Asia Pacific Intrathecal Pumps Market Strategic Insights
Asia Pacific Intrathecal PumpsMarket Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 70.5 Million |
| Market Size by 2028 | US$ 106.5 Million |
| CAGR (2021 - 2028) | 6.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
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Regions and Countries Covered
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| Asia-Pacific | China, India, Japan, Australia, Rest of Asia-Pacific |
| Market leaders and key company profiles |
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Asia Pacific Intrathecal Pumps Market Country and Regional Insights
