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Global Spinal Pumps Market Demand, Supply and Consumption 2020

Summary - A new market study, titled “Global Spinal Pumps Market, By Application (Spasticity Management, Pain Management, Non-malignant pain and Malignant pain), And Geography (North America, Europe, Asia Pacific, And Rest Of The World) – Analysis, Share, Trends, Size, & Forecast From 2016 – 2027- COVID- 19 Updated” has been featured on WiseGuy Reports.

REPORT HIGHLIGHT
The spinal pumps market is estimated to represent a global market of USD 230.7 million by 2019 with growth rate of 5.3%. Spinal pump (also called “pain pump”) is a type of medical device which allows delivering medication directly to the spinal cord. A spinal pump is a round shaped metal device, comprised of an intrathecal catheter (small plastic tube) which is connected to a drug reservoir (space inside the pump which holds the medication). This device is implanted under the abdomen skin through surgical intervention, in such a way that it can refill through percutaneous route.
Intrathecal drug delivery method (ITDD) is an evolving therapy and is accepted widely by a physician and in hospital, clinics to relieve pain symptoms. The prime aim of this system is to deliver the drug to spinal cord receptor sites in adequate quantity to produce a clinical effect. An intrathecal mechanism is considered to be an efficient drug delivery than oral medication owing to its ability to deliver medicine directly into the cerebrospinal fluid (CSF). Further, this drug delivery system requires a minimum amount of drug as to the oral medication as it bypasses the path that oral route takes through your body. For example, according to the various research studies, intrathecal drug delivery required about 1/300th amount of drug as compared to the oral administration. This technique helps the patient to reduce chronic pain caused by cancer, back surgery syndrome, causalgia, arachnoiditis, chronic pancreatitis and various others.
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Commercially, two different types of spinal pumps are available; one is a constant rate spinal pump that delivers the medication at a steady rate, another is a programmable spinal pump which delivers drug at a predetermined rate. Unlike constant rate pump, the physician can set the duration of infusion, bolus dose, and lock-out interval by using a programmable pump. The major advantage of using the programmable pump is that it offers flexibility for unpredictable, unstable, or complex pain problems like progressive cancer pain. Drugs such as baclofen, morphine, and ziconotide are commonly used, either alone or in combination.
Market Dynamics
Advancement in technologies is one of the major driving factors for the growth of this market. The emergence of programmable infusion pumps, micro-dose infusions, and patient-controlled devices are new technologies developed in recent time. For instance, Medtronic introduced fully implanted programmable pump named “SynchroMed II infusion system”. This device is featured with diamond-like carbon coating (DLC) which improve its performance. Additionally, pipeline concepts, such as the inclusion of piezoelectric membrane pump, positive pressure design with a gate-controlled administration, needle placement; inclusion of pump volume indicators; pressure monitors, and conopeptides, are presumed to present the market with lucrative growth opportunities. However, a limited number of approved medications is the most critical restraining factor in the spinal pumps industry.
COVID-19 Impact and Recovery Analysis
The novel COVID-19 has put the world on a standstill, affecting major operations, leading to an industrial catastrophe. However, this market is positively affected due to this outbreak. This report presented by AnalystView Market Insights contains a thorough analysis of the pre and post COVID-19 market scenarios. The report includes all the recent development and changes recorded during the COVID-19 outbreak and comprehends the analysis of top performer segments and marginal growth segment in blood culture test sector.
Regional Takeaway
At present, North America and Europe led the global market. In 2019, these regions collectively accounted for 79.89% share of worldwide revenue. Availability of highly efficacious pain management solutions including the spinal pump, technological advancements, coupled with increasing number of facilities offering intrathecal pump delivery support the market growth. As per an article published in the Journal of Neural Transmission (November 2015), in Germany every year, around 1200 new continuous intrathecal baclofen (ITB) application pump systems are implanted. Favorable government initiatives, improving healthcare infrastructure, and the large patient base is projected to support the spinal pump market growth in developing regions such as India and China.
Key Vendor Takeaways
Companies such as FlowonixMedical, Inc., Medtronic Plc, Teleflex, Inc., and DePuy Synthes are operating in this market. Strategic initiatives in the form of new product development, mergers & acquisitions, and geographical expansion are undertaken by key players in order to expand their presence in a market. For example, Flowonix Medical received the U.S. FDA approval of its next-generation intrathecal infusion device, Prometra II in January 2015. This approval has expanded company’s product offering in targeted drug delivery business solutions.
The market size and forecast for each segment has been provided for the period 2016 to 2027, considering 2019 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2021 to 2027 for every reported segment.
The years considered for the study are:
Historical Year – 2016 to 2018
Base Year – 2019
Estimated Year – 2020
Projected Year – 2027
The proposed reports analyse and evaluates the COVID-19 impact, and anticipated change on the future market scenario on this industry, by taking into the account the economic, political, technological, and social, parameters.

FOR MORE https://www.wiseguyreports.com/reports/5641684-spinal-pumps-market-...

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