Hydrocephalus Market Size to Grow at a CAGR of 4.4% By 2023
Research Reports
Dec 14, 2021
Hydrocephalus Market-Overview
The expansion of the Hydrocephalus market is being driven by an increase in the incidence of hydrocephalus in people and infants and an increase in life-threatening accidents and brain trauma in adults. According to MRFR, the market is estimated to capture USD 1,752.07 million at a CAGR of 4.4% by 2023.
Congenital abnormalities are becoming more common in the current generation; this opens up a new window of opportunity for the hydrocephalus market to grow. The emergence of medical institutions that offer upskilling courses to medical professionals is positioned to gain the market. The high incidence of neurological diseases such as brain aneurysms may also contribute to market expansion.
Segmental Analysis
The segmental overview of the hydrocephalus market is conducted based on types, methods of diagnosis, treatment, and end users. In the hydrocephalus market, methods of diagnosis segment for the hydrocephalus market include MRI, head ultrasound, and CT scan-head. The market is divided into three types of treatments: medicine, ventriculostomy, and surgery-shunt insertion. Acquired hydrocephalus, congenital hydrocephalus, ex-vacuo hydrocephalus, and normal-pressure hydrocephalus (NPH) are several types of segments. Hospitals and clinics, research institutions and academic centers, and diagnostic centers are among the end-users in the hydrocephalus market.
Detailed Regional Analysis
The regional examination of the hydrocephalus market comprises Asia-Pacific (APAC), Americas, Europe, and the Middle East & Africa (MEA). Due to the general prevalence of neurological diseases, modern healthcare infrastructure, and the presence of key competitors, the Americas held the largest market share in 2017. On the other hand, APAC is expected to develop at the fastest rate due to China’s and India’s rapid expansion and big patient pools. The regional hydrocephalus market could be driven by government support in the form of money to speed up research and development in shunts and other imaging technologies through 2023.
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Competitive Analysis
In the coming future, competitors’ potential to stimulate market transformation will proceed to grow at a steady rate. The need to establish a quick and profitable management strategy is predicted to impact the market in the near future. The market’s conflict between demand and supply is investigated to generate a measured development framework. Since the market requires an additional drive to achieve consistency in such a situation, cooperation from administrative authorities and governments is increasing. The focus on transformation is forecast to expand in the following years, as user expectations must be addressed more effectively to recover the global market. In the subsequent years, the requirement to ameliorate losses incurred by the current public health crisis is projected to be the exclusive focus of market applications. In particular, there will be a need to provide a helping hand to enterprises in the approaching phase.
The vital contenders in the hydrocephalus market are Integra LifeSciences Corporation (U.S.), DePuy Synthes (U.S.), Johnson & Johnson Services Inc. (U.S.), Natus Medical Incorporated (U.S.), HLL Lifecare Limited (India), B. Braun Melsungen AG (Germany), Boston Neurosciences (U.S.), Terumo Corporation (U.S.), Spiegelberg GmbH & Co. KG (Germany), Medtronic Plc (Ireland), Sophysa SA (France), RAUMEDIC Inc. (Germany), Christoph Miethke GmbH & Co. KG (Germany), and Tokibo Co., Ltd. (Japan).
Industry Updates:
Nov 2021 Researchers at Penn State are working on a new device dubbed HydroFix. This enhanced surgical shunt system will reduce the hazards associated with current shunts while also providing a long-term therapy option for NPH patients. The researchers have started a company called Cranial Devices Inc. and are looking for a license to use Penn State’s HydroFix technology.
Mar 2021 Anuncia announced that their ReFlow system for managing cerebral spinal fluid (CSF) had been designated as a breakthrough product by the FDA. Anuncia’s ReFlow Mini is designed to treat CSF problems that necessitate shunting, such as hydrocephalus. It has been tailored to meet the needs of a wide range of hydrocephalus patients, including young women with pseudotumor cerebri, newborns with non-communicating hydrocephalus, and elderly patients with interactive, idiopathic normal pressure hydrocephalus.
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