Global Pain Pumps Market Size By Product Type (Reusable, Disposable), By End-User (Pain Clinics, Hospitals, Ambulatory Surgery Centres (ASCs)), By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Pain Pumps Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2023 to 2030.
One of the key drivers of the Pain Pumps Market growth of the global intrathecal pumps is the increasing prevalence of acute and chronic diseases such as various types of cancers and other pain-causing disorders such as failed back surgery syndrome where the individual faces continual and severe back pain. The Global Pain Pumps Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Pain Pumps Market Definition
So, pain pumps? They're basically little electrochemical gadgets that help manage pain by giving patients just the right amount of medicine. Tech whizzes are the ones running the show, figuring out how long and how much medicine to give, all using special software. Think of it this waypain pumps are way more precise than just manually giving medicine. They're a big deal in helping folks bounce back after surgery. These medications? They're super important for getting people back on their feet when they're dealing with chronic or acute pain from all sorts of medical issues.
These trends, coupled with technological advancements, are anticipated to contribute to the positive growth of the global Pain Pumps Market. The rise in the need for minimally invasive techniques, reducing the demand for oral pain medication, increased patient preference due to effective pain relief and improved care are significant drivers for the growth of the global Pain Pumps Market. These combined with, improved quality of life due to participation in day-to-day activities are significant drivers for the growth of the global Pain Pumps Market.
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Global Pain Pumps Market Overview
Rising cases of pain disorders are projected to drive the industry’s growth. With the rising survival rate for oncologic patients, the occurrence of cancer pain is also growing. Pain arises in 67% of patients with metastatic cancer and is among the most prevalent symptoms. The majority of chronic cancer pain can be managed with pharmacologic therapies including analgesia. However, intrathecal drug delivery offers an alternative route of administration for analgesics, which helps in reducing side effects with better bioavailability, thereby, accelerating the industry growth.
However, surgical complications such as infections, side effects, spinal fluid leak leading to headache, and the occurrence of Inflammatory mass at the tip of the catheter breakdown of the device due to failure of critical parts, components, or batteries are some of the restraining forces for this device market. Major drivers for the disposable pain pump market include significant pain reduction caused by failed back surgery syndrome, Reflex sympathetic dystrophy, and cancer pain.
Pain pumps are becoming more popular because they let people manage their daily lives more easily, require less medication, are generally safe and effective, and are easy to remove. Recent nods from the FDA, like approvals for the Prometra drug-delivery pump from Flowonix Medical Inc. and the SynchroMed(R) Il Programmable Pump from Medtronic, Inc., should really boost the demand for these devices in the years ahead. However, it’s not all smooth sailing. Things like infections after surgery, other side effects, spinal fluid leaks causing headaches, or even inflammatory masses at the catheter tip, and device breakdowns due to failed parts or batteries, can hold the market back a bit. Safety is a key concern.
Global Pain Pumps MarketSegmentation Analysis
The Global Pain Pumps Market is Segmented on the basis of Product Type, End-user, And Geography.
Based on Product Type, the market is segmented into Reusable and Disposable. The Disposable segment dominated the market for Pain Pumps in 2021. This growth is owing to the surging application of disposable pain pumps to efficiently manage post-operative pain. Intrathecal pumps are a progressive technique for managing chronic back pain. The soaring benefits experienced by chronic pain patients like decreased pain, the overall enhancement in activities of day-to-day living, and patients with spasticity observing diminished rigidity and muscle spasms are further propelling the growth of the segment.
Pain Pumps Market, By End-User
Pain Clinics
Hospitals
Ambulatory Surgery Centres (ASCs)
Homecare Settings
Others
Based on End-User, the market is segmented into Pain Clinics, Hospitals, Ambulatory Surgery Centres (ASCs), Homecare Settings, and Others. The Hospitals segment dominated the market for Pain Pumps in 2022. This growth is owing to the surging application of disposable pain pumps to treat chronic pain post the increasing count of surgeries endured by an enormous pool of patients in hospitals. Intrathecal pumps are widely utilized to treat chronic pain attributed to failed back surgery syndrome. The burgeoning count of hospitals together with sufficient reimbursement policies, progressive infrastructure, and sufficient facilities are further propelling the growth of this segment.
Pain Pumps Market, By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Okay, so when we look at where pain pump sales are happening around the world, we're talking North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Right now, North America is leading the pack in market share, and get this, it's expected to grow the fastest between now and 2021! Why? Well, a lot of it has to do with the unfortunate fact that there are a lot of cancers and other painful conditions, like chronic back pain, that require pain medication, plus they spend a good amount on healthcare. Over in the Asia Pacific region, Japan is looking like the place to be, mainly because they've got some pretty good reimbursement plans for pain pumps.
Key Players
The “Global Pain Pumps Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Medtronic, FLOWONIX MEDICAL INC., Johnson & Johnson Services, Inc., Teleflex Incorporated., Medallion Therapeutics, Inc., and tricumed Medizintechnik GmbH, among others.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Pain Pumps Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Pain Pumps Market gauge the attractiveness of a certain sector, and assess investment possibilities.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2023-2030
HISTORICAL PERIOD
2019-2021
KEY COMPANIES PROFILED
Medtronic, FLOWONIX MEDICAL INC., Johnson & Johnson Services, Inc., Teleflex Incorporated., Medallion Therapeutics, Inc., tricumed Medizintechnik GmbH.
SEGMENTS COVERED
By Product Type
By End-User
By Geography
CUSTOMIZATION SCOPE
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