The Europe Intrathecal Pumps Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030).
The drug delivery therapy systems offer numerous benefits, such as effective pain relief, high patient satisfaction, reduced side effects compared to oral medication, and reduced use of pain medication. In addition, this treatment is effective and safe when used as directed and can be customized by varying the dosage as needed. Hence, rising demand for targeted drug delivery systems will boost industry growth. The complications associated with the intrathecal catheter hinder the industry's growth. Occlusion, lacerations, and disconnection of the catheter cause a sudden cessation of intrathecal drug administration due to intrathecal catheter failure. Also, the majority of drug delivery device-related adverse events occur due to the failure of the intrathecal catheter.
The demographic shift toward an aging population has led to an increased incidence of age-related health issues, including chronic pain and neurological disorders. It caters to this demographic by providing a targeted approach to pain management and symptom relief. The primary application of these pumps lies in pain management. These devices are particularly effective in delivering medications directly to the spinal cord, providing relief to patients suffering from chronic pain conditions, including neuropathic pain, failed back surgery syndrome, and complex regional pain syndrome.
According to the government of the United Kingdom, total current healthcare expenditures in the UK in 2020 amounted to £257.6 billion, or £3,840 per person. The UK contributed 12.0% of the GDP in 2020, compared with 9.9% in 2019. In 2020, government-funded healthcare expenditures totaled £213,4 billion, grew by 14.9% in real terms, and accounted for approximately 83% of total healthcare expenditures. Higher expenditure allows for the improvement of healthcare infrastructure, including the acquisition of advanced medical devices. Higher healthcare expenditure can contribute to research and development initiatives, fostering innovation in medical technologies. Due to the aforementioned factors the market growth will drive in this region.
The Germany market dominated the Europe Intrathecal Pumps Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $31,769 Thousands by 2030. The UK market is registering a CAGR of 4.5% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 6.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Intrathecal Pumps Market will Hit 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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