Asia Pacific Intrathecal Pumps Market Growth Drivers and Forecast by 2028
Asia Pacific Intrathecal Pumps Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Constant Rate Pump, and Programmable Pump); Application (Chronic Pain, and Spasticity Management)
- Status : Published
- Report Code : TIPRE00025340
- Category : Life Sciences
- No. of Pages : 102
- Available Report Formats :
- Last update date : October 11, 2021
2021 Market Size
US$ 70.5 Mn
Base year value
2028 Forecast
US$ 106.5 Mn
Projected by 2028
CAGR 2022-2028
6.1 %
Growth rate
Addressable Market
US$ 629.78 Mn
(2022-2028)
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 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.
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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the intrathecal pumps market. The Asia Pacific intrathecal pumps market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
Asia Pacific Intrathecal Pumps Market Segmentation
By Type
- Constant Rate Pumps
- Programmable Pumps
By Application
- Chronic Pain
- Spasticity Management
By Country
- 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 Report Scope
| 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
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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