South Korea Intrathecal Pumps Market Size & Outlook
South Korea intrathecal pumps market, 2017-2030 (US$M)
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South Korea intrathecal pumps market highlights
- The South Korea intrathecal pumps market generated a revenue of USD 8.9 million in 2022 and is expected to reach USD 14.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.5% from 2023 to 2030.
- In terms of segment, morphine was the largest revenue generating type in 2022.
- Clonidine is the most lucrative type segment registering the fastest growth during the forecast period.
Intrathecal pumps market data book summary
| Market revenue in 2022 | USD 8.9 million |
| Market revenue in 2030 | USD 14.7 million |
| Growth rate | 6.5% (CAGR from 2022 to 2030) |
| Largest segment | Morphine |
| Fastest growing segment | Clonidine |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Baclofen, Bupivacaine, Clonidine, Morphine, Ziconotide, Other Type |
| Key market players worldwide | Medtronic PLC, Smiths Group PLC, Teleflex Inc, Johnson & Johnson, Medallion Therapeutics, Tricumed Medical Technology, Arrow International Inc, Flowonix |
Other key industry trends
- In terms of revenue, South Korea accounted for 2.6% of the global intrathecal pumps market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan intrathecal pumps market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 22.8 million by 2030.
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Intrathecal Pumps Market Scope
Intrathecal Pumps Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea intrathecal pumps market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to intrathecal pumps market will help companies and investors design strategic landscapes.
Morphine was the largest segment with a revenue share of 31.46% in 2022. Horizon Databook has segmented the South Korea intrathecal pumps market based on baclofen, bupivacaine, clonidine, morphine, ziconotide, other type covering the revenue growth of each sub-segment from 2017 to 2030.
Adoption of intrathecal pumps in South Korea is gradually increasing owing to various advantages associated with intrathecal drug delivery systems in treating chronic pain. Various medical centers in South Korea, such as Ewha Womans University Medical Center, provide intrathecal therapies for pain management.
Intrathecal drug delivery systems are considered most effective in treating the patient with chronic pain; however, the high cost of these systems is expected to hinder its adoption. Therefore, to overcome this challenge, since July 2014, the Korean National Health Insurance (NHI) program financially supports 50% of intrathecal drug delivery system implantation cost in chronic pain patients.
The South Korean government provides reimbursements to patients with the following indications: Insufficient pain control for 6 months when using other analgesic methods, long-term severe pain, patient life expectancy > 1 year, and cancer pain that is unresponsive to high or equivalent doses of oral morphine or other narcotic analgesics.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea intrathecal pumps market, including forecasts for subscribers. This country databook contains high-level insights into South Korea intrathecal pumps market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea intrathecal pumps market size, by type, 2017-2030 (US$M)
South Korea Intrathecal Pumps Market Share, 2022 & 2030 (US$M)
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