Global Intrathecal Baclofen (ITB) Therapy Systems Market Size to Reach USD 1.84 Billion in 2032 | Emergen Research
Increasing prevalence of multiple sclerosis and other chronic ailments is a major factor driving Intrathecal Baclofen (ITB) Therapy Systems market revenue growth
Vancouver, Sept. 04, 2023 (GLOBE NEWSWIRE) — The global market for Intrathecal Baclofen (ITB) therapy systems reached a value of USD 1.11 Billion in the year 2022. According to the most recent analysis conducted by Emergen Research, this market is anticipated to achieve a consistent Compound Annual Growth Rate (CAGR) of 5.2% throughout the forecast period. This growth is primarily attributed to the increasing prevalence of conditions such as cerebral palsy, multiple sclerosis, stroke, brain injury, and spinal cord injury.
Intrathecal Baclofen therapy involves a direct approach in managing spasticity within the spinal cord, offering a reduction in systemic adverse effects. This therapeutic method finds application in a range of neurological disorders, including spinal cord injury, Cerebral Palsy (CP), stroke, traumatic brain injury, and hypoxic brain injury. This approach serves as a significant driver for the expansion of market revenues in this sector.
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Furthermore, a noteworthy contributing factor to the expansion of market revenue is the widespread adoption of supportive reimbursement strategies across the globe. The implementation of improved reimbursement approaches by healthcare systems and insurance entities is poised to enhance both patient accessibility and affordability to Intrathecal Baclofen (ITB) therapy. This, in turn, will stimulate the growth of market revenues.
Additionally, the escalating dissemination of education and awareness regarding ITB therapy constitutes another influential driver of market revenue increase in the projected timeframe. As patients, their families, and healthcare practitioners gain a deeper understanding of ITB therapy, the demand for this treatment modality is projected to experience an upswing.
Moreover, the successful application of ITB therapy in pediatric patients afflicted with conditions such as cerebral palsy and other relevant diseases is expected to further propel the growth of market revenue during the forecast period. This effectiveness in the pediatric demographic reinforces the overall market expansion.
Nonetheless, a significant factor that could potentially impede the growth of market revenue is the restricted availability of specialized facilities. Intrathecal Baclofen (ITB) therapy demands the expertise of professionals who possess advanced training in the fields of neurology and spasticity management. In certain regions, the scarcity of these specialized facilities or medical practitioners equipped with the requisite skills to administer such therapy might hinder the widespread adoption and utilization of ITB therapy.
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Scope of Research
|Market Size in 2022||USD 1.11 Billion|
|Revenue Forecast To 2032||USD 1.84 Billion|
|Base Year For Estimation||2022|
|Quantitative Units||Revenue in USD Billion and CAGR in % from 2023 to 2032|
|Report Coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments Covered||Product type, application, and region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Country Scope||U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa|
|Key Companies Profiled||Medtronic Plc, Flownix Medical Inc., Teleflex Incorporated, DePay Synthes, Tricumed Medizintechnik GmbH, Smiths Group Plc, Summit Medical Group, B Braun Melsungen AG, and Becton, Dickinson & Company|
|Customization Scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global ITB therapy systems market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Medications. Some of the major companies included in the Intrathecal Baclofen (ITB) Therapy Systems market report are:
- Medtronic Plc
- Flownix Medical Inc.
- Teleflex Incorporated
- DePay Synthes.
- Tricumed Medizintechnik GmbH
- Smith’s Group Plc
- Summit Medical Group
- B Braun Melsungen AG
- Dickinson & Company
- On 1 June, 2022, Amneal Pharmaceuticals, Inc. introduced LYVISPAH, a baclofen oral granules (5, 10 and 20 mg) specialty drug, which was authorized by the U.S. Food and Drug Administration (FDA) for the treatment of spasticity associated with multiple sclerosis and other spinal cord disorders.
- On 21 February, 2020, FDA approved Flowonix’s Prometra II Pump System for Use with Intrathecal Baclofen. The Prometra II Programmable Pump System from Flowonix Medical has been given FDA approval for use with intrathecal baclofen to treat spasticity in various disorders including multiple sclerosis.
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Some Key Highlights from the Report
- The implantable pumps segment is expected to account for largest revenue share in the global ITB therapy systems market over the forecast period due to rising adoption of –Minimally Invasive Surgery (MIS) worldwide. Implantable pumps provide a minimally invasive method of administering baclofen by delivering it directly into spinal fluid. The implantable pump system offers tailored drug administration in comparison to oral medication or other more intrusive treatments, which may lead to better treatment outcomes with fewer systemic side effects. In addition, implantable pumps reduce the need for repeated oral medicine administration, which lowers the possibility of missing doses and improves patient compliance. Moreover, ease of continuous medication supply provided by the pump system may enhance patient outcomes and long-term management of spasticity. Furthermore, improved pharmacological effectiveness of Implantable pumps is also expected to drive revenue growth of this segment.
- The spinal cord injury segment is expected to register steadily fast revenue growth rate in the global ITB therapy systems market over the forecast period. This is because managing spasticity with intrathecal baclofen therapy can help and enhance rehabilitation initiatives for those who have suffered spinal cord injuries. Patient outcomes are improved because ITB therapy has been shown to be effective in treating spasticity and related symptoms in people who have had spinal cord injury. Both patients and healthcare professionals are placing greater demand because of the therapy’s potential to enhance mobility, lessen pain, and improve general comfort.
- The North America market is expected to account for largest revenue share in the global ITB therapy systems market during the forecast period due to rising prevalence of neurodegenerative diseases in this region. The region has a high prevalence of neurological conditions, such as multiple sclerosis, cerebral palsy, and spinal cord injuries, that can benefit from this treatment.. Healthcare practitioners are more likely to be aware of and comprehend intrathecal baclofen therapy due to the existence of reputable medical facilities and specialized neurology centers. This information enables medical professionals to suggest the therapy to the right patients, promoting its widespread acceptance. In addition, the legal framework and helpful reimbursement policies in North America make it easier for patients to get intrathecal baclofen therapy. Furthermore, cost of the therapy is frequently partially covered by public healthcare programs and private insurance companies, making it more accessible and inexpensive for patients and fostering market expansion.
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Emergen Research has segmented the global ITB therapy systems market on the basis of product type, medication, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- Intrathecal pump
- Intrathecal medications
- Medication Outlook (Revenue, USD Billion; 2019-2032)
- Pain Management
- Spasticity Management
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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