The rapid restoration of health after surgery is one of the major reasons for the growth of global pain pumps market in coming years. According to a report by Fortune Business Insights, titled “Pain Pumps Market Size, Share and Global Trend, By Application (Spinal Cord Injury, Cancer Pain, Cerebral Palsy, Stroke, Brain Injury, Others), By Product Type (Reusable Pumps, Disposable Pumps), By End User (Pain Clinics, Hospitals, Ambulatory Surgery Centres (ASCs), Homecare Settings, Others) and Geography Forecast till 2026,”
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there has been a reduction for the demand of oral pain medications and patients are now preferring minimally invasive techniques as they provide effective and immediate pain relief. Also, mundane lifestyles of the masses have improved due to their participation in day to day activities. There have been speedy advancements in healthcare infrastructure which is likely to boost the global pain pumps market.
The report is classified into various segments. They are by application, end user, product type, and geography. Amongst these, application is further segmented into spinal cord injury, cancer pain, cerebral palsy, stroke, brain injury, and others. Fortune Business Insights predicts that cancer pain segment is anticipated to grasp a notably large amount of market share in the global pain pumps market. Pain pumps are very effective in relieving cancer pain and due to this, there has been an increasing demand and consumption of pain pumps in developing and developed countries. However, there are a few obstacles that may affect the growth of global pain pumps market during the forecast period. Lack of trained professional experts, non-efficiency in drug delivery due to air blockage, and excessively high costs are some of them.
North America Likely to Dominate the Market Owing to its Growing Prevalence of Chronic Pain
Geographically, the global pain pumps market is segmented into North America, Europe, Latin America, Asia Pacific, the Middle East and Africa. North America is projected to lead the global pain pumps market. This is likely to occur due to the growing prevalence of spinal cord injuries and chronic pain. Another factors that contribute to the growth are advancements in healthcare facilities, quality nursing training and education, and demand of minimally invasive techniques for pain management. The Middle East and Africa and Asia Pacific are projected to hold huge market share. Rise in geriatric population, increasing demand and availability of pain pumps, and pain management devices are few of the factors owing to the rise in consumption of pain pumps in these regions.
Key Players to Adopt Innovative Strategies to Lead Market
Piramal Critical Care, a renowned manufacturer of anaesthesia products announced the launch of MITIGO, an intrathecal pump product consisting of morphine sulfate, in the U.S. market in March 2019. Medtronic, a Dublin-based medical device company, launched a post-market study in January 2019 that examines the uses of SynchroMed intrathecal drug delivery system. People are often dependent on oral opioids and to reduce this habit, the company launched this study. Moreover, Medtronic announced the launch of Control Workflow in October 2018 in the U.S. It is an evidence-based approach to use with SynchroMed II intrathecal drug delivery system. The drug helps in reducing dependency on oral opioids and treat chronic pain.
Some of the major companies that are present in the global pain pumps market are Medtronic, Johnson & Johnson Services, Inc., Flowonix Medical Inc., Medallion Therapeutics, Inc., Tricumed Medizintechnik GmbH, Teleflex Incorporated, and others.
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