Global Hydrocephalus Market
Dublin, May 09, 2022 (GLOBE NEWSWIRE) -- The "Hydrocephalus Market by Cause, Type, Diagnosis, Treatment and Age: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global hydrocephalus market was valued at $6907.5 million in 2020 and is projected to reach $10178.6 million by 2030, registering a CAGR of 4.0% from 2021 to 2030.
One of the prominent factors responsible for the growth in the hydrocephalus market includes the increase in the number of hydrocephalic patients, which subsequently leads to the increase in the number of shunting procedures across the world. For instance, according to the hydrocephalus association, in 2021, over 36,000 shunt surgeries are performed each year (one every 15 minutes) and more than half of them represent emergencies.
Moreover, high demand for neurosurgery devices & accessories for hydrocephalus management and a rise in cases of neurological disorders, owing to congenital abnormalities and lifestyle diseases as well as a rise in incidences of brain and nerve injuries, boosts the demand for hydrocephalic shunts.
Furthermore, the key developmental strategies such as product approval, partnership, and launch of various novel hydrocephalic valves by key players are further projected to propel the growth of the market. For instance, in 2021, Anuncia Inc., an emerging leader in Cerebral Spinal Fluid (CSF) management, received U.S. Food and Drug Administration (FDA) breakthrough device designation for its ReFlow System Mini intended for the treatment of CSF disorders requiring shunting such as hydrocephalus.
Furthermore, in 2020, Aesculap, Inc., in partnership with the Christoph Miethke GmbH & Co. KG (MIETHKE), announced the launch of the M.blue valve, the latest generation of Hydrocephalus valve technology. Its unique gravitational technology is integrated with a fixed differential pressure unit in one valve, allowing for a simple, position-dependent solution. These strategies are certainly enhancing the company's footprints in the Hydrocephalus market, thereby contributing to the overall growth of the market.
However, serious damages caused by infections and malfunctions of existing shunts greatly limit the market growth. Some deleterious complications include irreversible brain injuries, meningitis, endocarditis, traumatic perforation, tricuspid regurgitation, heart failure, pulmonary hypertension, and others. For instance, according to the Hydrocephalus Association, approximately 50% of shunts in the pediatric population fail within two years of placement, requiring repeated neurological operations. On the contrary, advancements in shunt technology for reducing shunt complications are projected to create lucrative opportunities for market growth.
The hydrocephalus market is segmented on the basis of cause, type, diagnosis, treatment, age and region. On the basis of cause, the market is categorized into congenital hydrocephalus and acquired hydrocephalus. By type, the market is segmented into communicating hydrocephalus and non-communicating hydrocephalus. The communicating hydrocephalus is categorized into normal pressure hydrocephalus, ex-vacuo hydrocephalus. The diagnosis segment is fragmented into CT scan, MRI, and ultrasound. Furthermore, on the basis of treatment, the market is categorized into surgery shunt insertion and ventriculostomy.
The age is categorized into Neonate & Pediatrics and Adults. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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