Cerebrospinal Fluid Management Devices Market Synopsis
The data analysts at Market Research Future Reports (MRFR) have analyzed the global cerebrospinal fluid management devices market. As per the study, the global market for cerebrospinal fluid management is estimated to record a CAGR of 5.34% and holding a value of USD 2,104.66 million by the end of 2027. The increasing prevalence of neurological diseases such as Parkinson’s disease and Alzheimer’s disease is estimated to be the most significant factor driving the global cerebrospinal fluid management market 2020. Further, the increasing case of hydrocephalus and ventriculomegaly is estimated to augment the market size.
Also, various public and private companies are implementing various innovative technologies in the development of medical devices’ cerebrospinal fluid management. The established key players adopt tactics like these are estimated to grow the cerebrospinal fluid management devices market in the forthcoming period. In addition, the burgeoning technological development in the field of smart devices, along with the usage of AI and IoT, is another pivotal factor augmenting the market. Further, the rise in geriatric population is estimated to augment the market at the global front.
However, lack of expertise and side-effects related to the treatment is projected to obstruct the market growth in the forthcoming period.
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Cerebrospinal Fluid Management Devices Market Segmentation
The global cerebrospinal fluid management devices can be segmented on the basis of age group, end-user, product, and region.
On the basis of age group, the global cerebrospinal fluid management can be segmented into pediatric, adult, and geriatric.
On the basis of end-user, global cerebrospinal fluid management can be segmented into ambulatory settings, hospitals, and research and academic institutes.
On the basis of product, the global cerebrospinal fluid management can be segmented into critical care products, shunts & valves, dural sealants, and others.
On the basis of region, the global cerebrospinal fluid management can be segmented into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
Cerebrospinal Fluid Management Devices Market Regional Analysis
The data experts have conducted the regional analysis of the Americas, Europe, Asia-Pacific, and the Middle East & Africa at MRFR. As per the study, the global market is estimated to be dominated by the Americas. The region is excelling due to the presence of established key players. Besides, the region comprises of advanced healthcare infrastructure. Also, increasing awareness is estimated to expand the regional market. Europe is estimated to acquire the second position. The region has been witnessing a rise in chronic illness due to a change in lifestyle. Besides, the increasing support of the government is likely to affect the regional market positively. Also, the presence of established players in the region is likely to affect the market positively.
On the other hand, the APAC is estimated to take the third position. However, the APAC market is estimated to expand at the fastest pace due to the rising purchasing power. Also, increasing research and development is further likely to augment the market. The MEA region is estimated to acquire a substantial portion during the forecast period owing to the increasing R&D and the growing medical tourism. Besides, the increasing contribution of the government is further estimated to propel the regional market.
Cerebrospinal Fluid Management Devices Market Key Players
The renowned players of the global cerebrospinal fluid management devices market are
- Medtronic Plc (Ireland)
- Natus Medical Incorporated (US)
- B. Braun Melsungen AG (Germany)
- Sophia (France)
- IRRAS AB (Sweden)
- Möller Medical GmbH (Germany)
- Argi Grup (Turkey)
- Longeviti (US)
- Integra Lifesciences Corporation (US)
Cerebrospinal Fluid Management Devices Industry News
June 2020: CereVasc, a US medical device company, has raised USD 43.9 million to help launch first-in-human clinical testing for invasive hydrocephalus procedure.
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