DUBLIN–(BUSINESS WIRE)–The “Hydrocephalus Shunts Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Age Group, Type, Product and End User” report has been added to ResearchAndMarkets.com’s offering.
The hydrocephalus shunts market is expected to grow from US$ 286.19 million in 2021 to US$ 360.01 million by 2028; it is estimated to grow at a CAGR of 3.4% from 2022 to 2028.
The report highlights trends prevailing in the market and factors driving the hydrocephalus shunts market growth. The market growth is attributed to the increasing prevalence of hydrocephalus, and advancements in hydrocephalus valves. However, the high cost of treatments involving shunts and the need for revision surgeries limit the market growth.
Hydrocephalus shunt alludes to a clinical gadget that aids the treatment of a condition in the mind where an exorbitant collection of cerebrospinal liquid occurs. This condition causes expanded intracranial pressing factor in the skull. These gadgets help in soothing the tension on the cerebrum because of the fluid gathering.
Hydrocephalus is a prime cause of morbidity worldwide, affecting over 1 million people in the United States. According to the National Institute of Neurological Disorders and Stroke (NINDS), hydrocephalus is assumed to affect approximately 1 to 2 in every 1,000 children born in the U.S. As per the Los Angeles Health Organization, the University of California, ~125,000 people in the US are currently living with cerebrospinal fluid shunts.
The majority of hydrocephalus cases are often diagnosed before birth, at the time of delivery, or in early childhood. Hospitals in the US discharge ~69,000 patients annually with a primary diagnosis of hydrocephalus, of which 50% undergo new shunt placement procedures. Over half of these admissions are classified as urgent or emergencies.
The average cost of each treatment is ~US$ 35,816. As stated in “Hydrocephalus and Shunts,” an article published by Ausmed, ~33,000 people undergo shunt placement surgeries every year in the US. CSF diversion surgeries and shunt revision surgeries, collectively, account for nearly one-third of all neurosurgical procedures annually in the country.
Based on product, the hydrocephalus shunts market is segmented into hydrocephalus valves, hydrocephalus catheters, neuronavigation systems, and others. The hydrocephalus valves are further bifurcated into adjustable pressure valves and fix pressure valves. The hydrocephalus valves segment held the largest market share in 2021. Moreover, the same segment is anticipated to register the highest CAGR during the forecast period.
Based on type, the hydrocephalus shunts market is segmented into ventriculo-peritoneal, ventriculoatrial, ventriculo-pleural, and lumbo-peritoneal. In 2021, the ventriculoperitoneal segment held the largest share of the market. Moreover, the same segment is expected to grow at a significant CAGR during the forecast period.
Based on the age group, the hydrocephalus shunts market is bifurcated into pediatric and adults. In 2021, the pediatric segment held the largest share of the market. Moreover, the same segment is estimated to grow at a significant CAGR during the forecast period.
Based on the end user, the hydrocephalus shunts market is segmented hospitals, ambulatory surgical centers, and others. The hospitals segment is anticipated to hold the largest market share in 2021. Moreover, the same segment is expected to register the highest CAGR during the forecast period.
Key Market Dynamics
Market Drivers
- Increasing Prevalence of Hydrocephalus
- Advancements in Hydrocephalus Valves
Market Restraints
- High Cost of Treatments Involving Shunts and Needs for Revision Surgeries
Market Opportunities
- Increasing Funding by Public and Private Organizations
Future Trends
- Business Synergy Through Strategic Alliances
Company Profiles
- B. Braun Melsungen AG (CHRISTOPH MIETHKE GMBH & CO. KG)
- Sophysa
- HpBio Proteses, inc.
- Integra LifeSciences Holdings Corporation
- KANEKA MEDIX CORP.
- Medtronic
- Natus Medical Incorporated
- Spiegelberg GmbH & Co. KG
- Desu Medical
Global Analysis
By Product
- Hydrocephalus Valves
- Adjustable Pressure Valves
- Fix Pressure Valves
- Hydrocephalus Catheters
- Neuronavigation Systems
By Type
- Ventriculo-Peritoneal
- Ventriculo-Atrial
- Ventriculo-Pleural
- Lumbo-Peritoneal
By Age Group
- Pediatric
- Adults
For more information about this report visit https://www.researchandmarkets.com/r/kulaa2
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