Europe Intrathecal Pumps Market Growth Opportunities and Forecast by 2028

The intrathecal pumps market in Europe is expected to grow from US$ 108.2 million in 2021 to US$ 150.5 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028.

The rise in geriatric population in developed and developing countries is driven by modernization of healthcare facilities and improvements in healthcare services, which has boosted the life expectancy in these countries. According to data by the World Health Organization (WHO) in February 2018, geriatric population is estimated to rise from 12% in 2015 to 22% by 2050. Moreover, underdeveloped and developing countries would account for ~80% of this growth. A majority of elderly people live with chronic pain, resulting in reduced strength to perform their daily tasks. They suffer from spine and neck injuries, chronic spinal pain, neck pain, and abdominal pain; cancer; and other chronic disorders leading to pain. Therefore, the demand for pain management devices is higher among geriatric population, which is likely to boost the intrathecal pumps market growth.

The intrathecal pumps market witnessed some shortfall at the beginning of COVID-19 crisis owing to factors such as disruption in supply chain and demand due to lock down announced by majority of European countries. Due to outbreak, most industries around the world have been negatively affected. This can be attributed to various preventive lockdowns and other restrictions imposed by government authorities around the world, which have experienced major disruptions in their respective manufacturing and supply chain operations. This also applies to the Europe market for intrathecal pumps. Furthermore, consumer demand has also decreased, because the general economic conditions of most of the people have been severely affected by this epidemic, and people are now more interested in eliminating unnecessary expenses from their respective budgets. However, as the respective government authorities begin to lift these mandatory lockdowns, the Europe intrathecal pump market is expected to rebound accordingly.

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 Europe intrathecal pumps market is expected to grow at a good CAGR during the forecast period.

Europe Intrathecal Pumps Market Segmentation 

By Type

• Constant Rate Pumps
• Programmable Pumps

By Application

•  Chronic Pain
• Spasticity Management

By Country

• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe

Companies Mentioned

1. Medtronic
2. Smiths Medical
3. Teleflex Incorporated
4. Johnson and Johnson Services, Inc.
5. Durect Corporation                           
6. Abbott
7. Baxter International Inc.
8. tricumed Medizintechnik GmbH

Europe Intrathecal Pumps Report Scope