The Asia Pacific Intrathecal Pumps Market would witness market growth of 6.6% CAGR during the forecast period (2023-2030).
It has been observed that intrathecal pump manufacturers are developing devices with extended battery life, potentially reducing the necessity for additional surgical interventions to replace expired pumps. An increase in the incidence of pain disorders is anticipated to propel market expansion. As the survival rate of oncologic patients increases, so does the prevalence of cancer-related discomfort. 67% of patients with metastatic cancer experience pain, making it one of the most commonly observed symptoms. With pharmacologic therapies, including analgesics, the preponderance of chronic cancer pain can be managed. On the contrary, intrathecal drug delivery presents an alternative analgesic method that effectively enhances bioavailability and mitigates adverse effects, thus propelling the market's expansion.
The increasing demand for advanced intrathecal pumps for rapid delivery of medications into the spinal cord for faster pain relief is expected to boost the industry's growth during the forecast period. The advantages associated with these pumps are anticipated to augment the industry growth. Medications, such as opioids, when given through an intrathecal pain pump, provide superior pain relief as well as reduce side effects. Also, a small amount of medication is required in pain pumps compared to the amount of medication taken in pill form, increasing its preference among individuals.
According to the State Council, total expenditure on public health rose 15.2 percent in 2021 from 2020 to 1.9 trillion yuan (about $293 billion). Adequate public health funding can help reduce treatment gaps by ensuring that advanced pain management options, including intrathecal pumps, are accessible to a larger portion of the population. With increased funding, specialized pain management services incorporating intrathecal pump therapy may become more widely available. Therefore, the factors mentioned above will propel the market growth in the Asia Pacific region.
The China market dominated the Asia Pacific Intrathecal Pumps Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $33,600.1 Thousands by 2030. The Japan market is exhibiting a CAGR of 5.9% during (2023 - 2030). Additionally, The India market would experience a CAGR of 7.3% during (2023 - 2030).
Based on Application, the market is segmented into Pain, and Spasticity. Based on Type, the market is segmented into Morphine, Ziconotide, Baclofen, Bupivacaine, Clonidine, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Intrathecal Pumps Market is Predict to reach USD 491.7 Million by 2030, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic plc, ICU Medical, Inc. (Smiths Medical), Teleflex, Inc., Johnson & Johnson (Johnson & Johnson Services, Inc.), Baxter International, Inc., Abbott Laboratories, Tricumed Medizintechnik GmbH, Flowonix Medical, Inc., Durect Corporation, and Novartis AG
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