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.
Brazil, Argentina, Peru, Chile, Uruguay, Colombia is affected by the second wave of corona infection. Amongst which Brazil has recorded the majority of the deaths. It is expected that the region is likely to impose a second lockdown, which will ultimately hamper the healthcare industry in the area. Countries in Brazil and Argentina are among the top destinations in the world for aesthetic procedures. However, the outbreak of COVID–19 has severely impacted the flow of medical services in the region. In addition, the countries are famous for medical tourism, which is also affected by the pandemic. Brazil, Argentina, Peru, Chile, Uruguay, Colombia is affected by the second wave of corona infection.
Market Overview and Dynamics
The Intrathecal pumps market in South and Central America is expected to grow from US$ 23.6 million in 2021 to US$ 30.2 million by 2028; it is estimated to grow at a CAGR of 3.6% from 2021 to 2028. The emergence of the Internet of Things in medical devices is further supporting product innovations. The mobile applications assist well in pain management. For instance, Medtronic unveiled its SynchroMed with intent to empower patients experiencing continuous pain to quit taking systemic opioids. The implant releases drugs into the intrathecal space around the spinal line. A study published in 2015 indicated that 68% of patients with chronic pain quit taking systemic opioids in the month subsequent to receiving the implant. The rate further surged to 84% and 92% in the next one year and five years, respectively. Besides, the use of mobile applications has assisted healthcare professionals to analyze the user’s sleep and activity patterns. Using these insights, personal data related to the sensation of pain can be examined and treated.
Key Market Segments
In terms of type, the constant rate pump segment accounted for the largest share of the South and Central America intrathecal pumps market in 2020. In terms of application, the chronic pain segment accounted for the largest share of the South and Central America 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 South and Central America 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
SOUTH AND CENTRAL AMERICA INTRATHECAL PUMPS MARKET SEGMENTATION
By Type
By Application
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 23.6 Million |
| Market Size by 2028 | US$ 30.2 Million |
| CAGR (2021 - 2028) | 3.6% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| South and Central America | Brazil, Argentina, Rest of South and Central America |
| Market leaders and key company profiles |
|
The South and Central America Intrathecal Pumps Market is valued at US$ 23.6 Million in 2021, it is projected to reach US$ 30.2 Million by 2028.
As per our report South and Central America Intrathecal Pumps Market, the market size is valued at US$ 23.6 Million in 2021, projecting it to reach US$ 30.2 Million by 2028. This translates to a CAGR of approximately 3.6% during the forecast period.
The South and Central America Intrathecal Pumps Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South and Central America Intrathecal Pumps Market report:
The South and Central America Intrathecal Pumps Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South and Central America Intrathecal Pumps Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South and Central America Intrathecal Pumps Market value chain can benefit from the information contained in a comprehensive market report.
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