Cerebrospinal Fluid Management (CSF) Devices Market published by Market Research Future, analyzing Market By Product (Shunts, Valve, External Drainage System), Age Group (Paediatric, Adult, Geriatric), End User (Hospitals, Ambulatory Settings, and others) and Global Forecast Till 2023
Market Insight
Market reports associated to healthcare sector has been availed by Market Research Future, which states that the global cerebrospinal fluid management devices market is set to inflate at a CAGR of 4.5% during the forecast period by 2023. Cerebrospinal fluid (CSF) is considered as a body fuel that is found in the brain and spinal cord, which provides mechanical and immunological protection to the brain. The usage of cerebrospinal fluid management device is to redirect cerebrospinal fluid from the nervous system to the different areas of the body.
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Market Overview
The global cerebrospinal fluid management devices market is mainly driven by the presence of high research funding for hydrocephalus. To support this, the study mentioned that Patient-Centered Outcomes Research Institute (PCORI) funded USD 2,514,333 amount for a cerebrospinal fluid shunt based research project in 2015. Other factors contributing are increasing geriatric population, ongoing technological advancements, growing adoption of minimally invasive surgeries, and raising awareness about hydrocephalus are also expected to boost the growth of the market in the assessment period.
On the other hand, factors such as the increasing prevalence of neurological disorders and development of advanced devices, rising disposable incomes are providing the market of varied traction for the coming years. Development of healthcare infrastructure has motivated the market to grow proficiently and also has led the market to capitalize prominent valuation over the years.
However, on the flip side, some factors such as high costs of devices and associated infections caused by CSF shunts, lack of trained professionals, side-effects associated with the treatment and high price of devices could be a hindrance to the global cerebrospinal fluid management devices market over the forecast period.
Market Segmentation
According to MRFR study, the global cerebrospinal fluid management devices market has been segmented based on the product, age group, end user, and region.
By product, the market has been segmented into shunts, valve, and external drainage systems.
By shunts, this market has been classified into ventriculoperitoneal (VP), ventriculoatrial (VA), lumboperitoneal (LP), and ventriculopleural (VPL). Further, the valve segment is classified as fixed and adjustable. The external drainage systems segment is also classified as external ventricular drainage (EVD) systems and lumbar drainage (LD) systems.
By the mode of age group, the market is segmented into a pediatric, adult, and geriatric.
In terms of end user, the market is segmented into hospitals, ambulatory settings, clinics, research and academic institutes, and others.
Regional Outlook
In the current study of MFRF, the global cerebrospinal fluid management (CSF) devices market has been covered into global regions, namely the Americas, Europe, Asia-Pacific, and the Middle East & African region.
Among them, the Americas are the leaders in the global market for cerebrospinal fluid management (CSF) devices due to the rising geriatric population and the existence of significant market players. As per the 2018 statistics recommended by the U.S. Census Bureau states that by 2035 there will be 78 million people 65 years and older compared to 76 million under the age of 18.
On the other hand, in 2017, it was estimated that Europe stood second in the global cerebrospinal fluid management (CSF) devices market owing to the rising research and development investments and increasing technological advancements. The Asia Pacific was anticipated to be the fastest growing region in 2017 with the support of increasing healthcare expenditure and rising cases of hydrocephalus that drives the regional markets of Asia Pacific. Therefore, according to the Hydrocephalus Association, it has been recorded that around 200,000 cases of congenital hydrocephalus in infants are registered across the world. Nevertheless, in India, virtually 12,000 cases of congenital hydrocephalus are recorded each year.
Lastly, the Middle East and Africa held the least share in the global cerebrospinal fluid management (CSF) devices market owing to the low per capita income and stringent government policies, especially within the African region.
Key Players
The prominent players in the global cerebrospinal fluid management devices market are noted as Medtronic plc, Integra LifeSciences Holdings Corporation, B. Braun Melsungen AG, DePuy Synthes, Spiegelberg GmbH & Co. KG, SOPHYSA, Natus Medical Incorporated, Dispomedica GmbH, Delta Surgical Limited, Argi Grup, Moller Medical GmbH, G. SURGIWEAR LTD., Wellong Instruments Co., Ltd., BeckerSmith Medical, Inc., and others.
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