The global intrathecal drug delivery systems market is expected to generate revenue of $1,662.0 million and grow at a CAGR of 7.2% during the forecast period 2020-2027. [110-Pages]

The global intrathecal drug delivery systems market is expected to witness significant growth by 2026 owing to the increasing prevalence of cancer globally. Regional, on North America the region is expected to hold the largest share of the market.

NEW YORK, January 23, 2023 /PRNewswire/ — Research Dive has added a new report to its offering titled “Intrathecal Drug Delivery Systems Market, by Product Type (External & Pump-Linked & Fully Implanted) by Application (Pain Management, Spasticity Management). Regional analysis (North America, Europe, Asia and the PacificLAMEA) Global Industry Opportunity Analysis and Forecast, 2020-2027″.

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According to the report, the global intrathecal drug delivery systems market is projected to generate revenue of $1,662.0 million and growing at a CAGR of 7.2% during the forecast time period 2020-2027.

Intrathecal Drug Delivery Systems Market Dynamics

With the increasing prevalence of cancer among humans globally, the intrathecal drug delivery systems market is projected to experience significant growth during the analysis period. Moreover, increasing adoption of IT therapies for cancer cases along with numerous prospective trials on terminal diseases and cancer are projected to create extensive opportunities for market growth over the forecast period. However, inequality issues along with expensive cell therapy treatments may hinder the growth of the market throughout the forecast period.

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Intrathecal Drug Delivery Systems Market Segments

The report segments the market on the basis of product type, application, and region.

  • By product type, the outsourced and pump-related sub-segment is projected to be the most productive and is expected to generate revenue of $1,358.6 million during the forecast period. Increasing demand for intrathecal drug delivery system for cancer pain and profitability of cancer pain treatment are projected to support the growth of the market sub-segment during the analysis.

  • According to the application, the spasticity management sub-segment is expected to be the most profitable and is expected to collect revenue of $1,140.2 million throughout the forecast period. Increasing use of fully programmable drug delivery flow management and control systems among spasticity patients as per their condition and body requirements is projected to boost the growth of the market sub-segment during the forecast period.

  • By region, North America The intrathecal drug delivery systems market region is projected to hold the largest market share and is expected to generate revenue of $695.9 million during the time frame of the analysis. This is mainly due to the increasing growth of fully implantable intrathecal drug devices in the region due to their long-lasting nature and ease of use. Furthermore, increasing investment by leading players in this region in research and development activities to provide innovative and effective pain management solutions is projected to drive regional market growth during the forecast period.

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Key players in the market

The major players in the intrathecal drug delivery systems market include

These players are working on developing new business strategies and tactics such as mergers and acquisitions, partnerships and collaborations, and product development to gain leadership in the global industry.

For example, in February 2020, Flowonix Medical, Inc., a medical device company dedicated to helping those suffering from chronic diseases, announced that it has received approval from the United States Food and Drug Administration (FDA) to market the programmable pump system Prometra II for use with intrathecal baclofen. With the launch of this system, Flowonix Medical, Inc. expanded its product portfolio by allowing its use in the treatment of spasticity.

Detailed study of specific regions or segments of Intrathecal Drug Delivery System Market and Availability 10% OFF

Furthermore, the report presents other important aspects including SWOT analysis, financial performance of key players, product portfolio and latest strategic developments.

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of services, the firm provides services that are solely based on its exclusive data model, driven by a 360-degree research methodology that ensures comprehensive and accurate analysis. With unprecedented access to multiple paid data resources, a team of expert researchers, and a rigorous work ethic, the firm offers insights that are highly accurate and reliable. By researching relevant news releases, government publications, decades of trade data, and technical and white papers, Research dive delivers the required services to its clients within the required timeframe. His expertise is focused on researching market niches, targeting its key drivers and discovering threatening obstacles. In addition, he also has a seamless collaboration with the big fan of the industry, which further offers an edge to his research.

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