Defined as a surgically implanted system that is used to infuse medication directly into the spinal cord or around it, intrathecal pumps are typically used to alleviate chronic pain in the body. They are also used in spasticity management for delivering medicines in a given intrathecal space, which allows administration of drugs in extremely low doses. The use of these pumps helps in reducing the side effects related with the drugs.
High Patient Awareness Propelling Global Intrathecal Pumps Market at 4.1% CAGR
Driven by high patient awareness and technological advancements, the market for intrathecal pumps is likely to show significant increases in safety, efficacy, and approval for potential indications, in spite of the frequent product recalls. The demand for these pumps is expected to grow steadily in the next five years as these devices are capable of delivering precise doses of medication without complex pumping. Intrathecal pumps are typically preferred for use in times when a patient is looking for a long-term medication. The fact that, most of the times, alternatives to intrathecal pumps are costlier or less effective helps increase the demand for intrathecal pumps.
Browse Market Research Report of Intrathecal Pumps Market: http://www.transparencymarketresearch.com/intrathecal-pumps-market.html
The prevalence of chronic pain is high in the U.S. population as well as among people in other parts of the world. According to a market study report from Transparency Market Research (TMR), it is estimated that nearly 116 million people in the U.S. suffer from chronic pain. Most of the chronic pain cases in this region are not adequately controlled with pain management drugs such as oral narcotic agents and others. Hence, the need to reduce or treat chronic pain is majorly fueling the intrathecal pumps market in the U.S. and other major regions such as Asia Pacific.
Owing to the device’s ability to reduce debilitating pain more effectively and with less side effects than other options, and conduct drug administration in low doses, the intrathecal pumps market is expected to rise at a 4.1% CAGR from 2014 to 2020. The aforementioned TMR research report on the intrathecal pumps market states that the market is expected to reach an estimated value of US$0.26 bn in 2020 from a value of US$0.19 bn in 2013.
Browse Market Research Press Release of Intrathecal Pumps Market: http://www.transparencymarketresearch.com/pressrelease/intrathecal-pumps-market.htm
Innovation in Intrathecal Pumps Led by Medtronic, Codman, Shurtleff
Currently, there are a few dominant companies in the global market such as Codman and Shurtleff, Inc. and Medtronic, Inc. that are at the forefront of advancing technologies related to intrathecal pumps. In 2013, Medtronic, Inc. sold almost 140,000 synchromed pumps that are mostly used in pain management. In the past few years, Medtronic, Inc. has made significant improvements in spinal cord stimulator devices from the time it invented the MRI-compatible systems and position sensor restore systems. One of its major launches, called Ascenda catheter, earned an approval from the FDA in 2012 as an effective catheter for use in the delivery of intrathecal baclofen (ITB) therapy.
Ascenda catheter offers less but effective medication and side effects as compared to oral baclofen treatment. Over the last few years, ITB therapy has been proved effective in clinical trials to reduce severe spasticity.