Hydrocephalus Shunts Market is projected to account for over US$ 415.5 Mn and expand at a CAGR of 3.5% through 2032, PMR Report
Market Study on Hydrocephalus Shunts Market: Technological Advancements to Revive the Market after a Brief period of Slowdown
New York:, Jan. 31, 2023 (GLOBE NEWSWIRE) -- The total sales of hydrocephalus shunts are estimated to be worth around US$ 294.5 Mn globally in the current year, 2022. As per the Hydrocephalus Shunts Market analysis report released by PMR, the market is anticipated to grow to US$ 415.5 Mn by 2032, registering a CAGR of 3.5% during this forecast period.
The overall market in the United States is expanding since there are over 50,000 fatal cases of TBI-related injuries per year, which result in 155 fatalities daily. The sales of external shunts for hydrocephalus are expected to grow as a result of new introductions, product approvals, and a growing emphasis by numerous companies on diversifying their product lines in neurosurgery.
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The NINDS institute estimates that 1 to 2 out of every 1000 newborns will be born throughout the world with hydrocephalus in the years following 2022. So, given the prevailing rate of births each year, the occurrence of hydrocephalus is expected to rise in the coming years and further boost the market demand for hydrocephalus shunts. The sales of hydrocephalic shunts has even further with an increase in neurological problems caused by congenital anomalies, lifestyle diseases, and brain and nerve traumas.
Unfortunately, severe harm brought on by infections and problems with the current shunts is observed to be severely restricting the hydrocephalus shunts' business expansion. Irrevocable brain damage, meningitis, traumatic perforation, endocarditis, tricuspid regurgitation, pulmonary, heart failure, and hypertension are a few other harmful side effects that may hamper the popularity of the product in several marketplaces.
Key Takeaways from the Hydrocephalus Shunts Market Study
By age group, the hydrocephalus shunts for the paediatric category had a greater market share during the previous years. As per the market report, this category is predicted to register a considerable CAGR of 3.5% over the forecast years.
In the preceding years until 2021, the hospital sector held the biggest market share, and over the forecast period, it is also anticipated to register the fastest CAGR of 3.8%.
The US hydrocephalus shunts market is projected to be driven by product releases, regulatory approvals, and greater focus by numerous companies on expanding their product portfolios in neurosurgery applications.
Stunt-free treatment for hydrocephalus is a rapidly growing method in the healthcare sector that could pose a major challenge to this market.
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Competitive Landscape for the Hydrocephalus Shunts Market
Some of the eminent players in the include the global hydrocephalus shunts market includes
B. Braun Melsungen AG
Sophysa
HpBio Próteses Inc.
Integra LifeSciences Holdings Corporation
KANEKA MEDIX CORPORATION
Medtronic
Natus Medical Incorporated
Spiegelberg GmbH & Co. KG
Desu Medical
Natus Neuro among others.
Recent developments in the Hydrocephalus Shunts market industry include
As stated in a press release from Aesculap, Inc. and The Christoph Miethke GmbH & Co. KG (MIETHKE) The M.blue valve was introduced in the US market in May of 2020. The M.blue valve combines a fixed differential pressure unit with cutting-edge gravitational technology in a single valve which is helpful to offer a straightforward, position-dependent resolution.
A portfolio of neurosurgical tools, such as catheters, are now offered by privately held Arkis Biosciences Inc. and it was acquired by Integra LifeSciences in July 2019. The purchase of Arkis Biosciences improved Integra's neurocritical care services and solidified Integra's reputation as the industry pioneer in cutting-edge catheter technologies.
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Hydrocephalus Shunts Market Segmentations-
Hydrocephalus Shunts Industry by Type – ( Ventriculo-Peritoneal, Ventriculo-Atrial, Ventriculo-Pleural, Lumbo-Peritoneal,
Hydrocephalus Shunts Industry by Product – ( Hydrocephalus Valves, Hydrocephalus Catheters, Neuronavigation Systems, Others )
Hydrocephalus Shunts Industry by Age Group – ( Paediatric, Adults )
Hydrocephalus Shunts Industry by End User – ( Hospitals, Ambulatory Surgical Centers, Others)
Hydrocephalus Shunts Industry by Region – ( North America Market, Europe Market, Asia-Pacific Market, Middle East & Africa Market, South America Market )
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