The Latin America, Middle East and Africa Intrathecal Pumps Market would witness market growth of 8.3% CAGR during the forecast period (2023-2030).
Intrathecal or spinal infusion pumps are medical devices designed to administer medication directly into the intrathecal space surrounding the spinal cord. This targeted drug delivery system allows for precise and controlled doses of medication, minimizing side effects and maximizing therapeutic efficacy. Typically implanted under the skin, these pumps are connected to a catheter that delivers medications such as analgesics, spasticity-reducing drugs, or anti-spasmodic directly to the cerebrospinal fluid. The growing number of chronic disorders, such as cancer, back pain, and chronic pancreatitis, is expected to be the principal driver of the industry's expansion. The World Health Organization (WHO) issued a warning in September 2022 regarding improvements in overall health, stating that chronic illnesses, including cancer, cardiovascular disease, and respiratory infections, will account for 86% of annual deaths by 2050 if the current trend of non-communicable diseases continues.
It is anticipated that technological advances in intrathecal pumps will stimulate industry expansion. Developments such as pump delivery modes, catheter design, and safety features are expected to accelerate its adoption. As per a report published in June 2022 by the National Centre for Biotechnology Information, intrathecal drug delivery systems (IDDS) are widely recognized for their efficacy in managing chronic benign pain. In addition, it is used in the treatment of patients with severe muscle spasticity and the administration of therapies for a variety of spinal diseases.
According to the government of UAE updated report in 2020, the value of the medical tourism industry was about US$15.5 billion in 2017, and it is expected to rise to US$28 billion by the end of 2024. The UAE has actively invested in developing state-of-the-art healthcare facilities, attracting medical tourists seeking high-quality medical services. The availability of advanced medical technologies, including intrathecal pumps, enhances the overall appeal of these facilities. Medical tourists often seek destinations that offer specialized medical services. Pain management, including the use of these pumps for targeted drug delivery, can be a unique and advanced service that attracts individuals seeking effective solutions for chronic pain. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The Brazil market dominated the LAMEA Intrathecal Pumps Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $8,913.2 Thousands by 2030. The Argentina market is experiencing a CAGR of 8.9% during (2023 - 2030). Additionally, The UAE market would exhibit a CAGR of 8% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Intrathecal Pumps Market is Projected to reach 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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