Hydrocephalus is a neurological condition, wherein cerebrospinal fluid builds in the ventricles and choroid plexus. It is the result of imbalance between production and rate of absorption of cerebrospinal fluid. Accumulation of cerebrospinal fluid leads to the enlargement of ventricle and increased pressure inside the brain.
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Neurological or hydrocephalus shunting is the most common treatment for hydrocephalus which involves implantation of catheters and valves to drain the excess cerebrospinal fluid accumulated in the brain. Additionally, neuronavigation systems help to place these implants in proper position.
Increase in the number of hydrocephalus surgeries, rise in prevalence of hydrocephalus among infants, and high demand for neurosurgery devices & accessories for chronic disease management are the major factors projected to drive the global hydrocephalus shunts market.
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According to the Hydrocephalus Foundation, nearly 40,000 hydrocephalus surgeries are performed in America each year. Furthermore, launch of new products by companies such as DePuy Synthes and increase in focus of key players on expanding product portfolio in neurosurgery are anticipated to propel the global market during the forecast period. For instance, Codman, a part of DePuy Synthes, launched CERTAS programmable valve for the treatment of hydrocephalus.
The global hydrocephalus shunts market can be segmented based on product, age group, end-user, and region. In terms of product, the hydrocephalus shunts market can be divided into valves, catheters, neuronavigation systems, and others. The valves segment can be bifurcated into fixed and adjustable. The valves segment is projected to account for the largest hydrocephalus shunts market share during the forecast period due to increase in demand for valves for hydrocephalus shunting and availability of wide range of products in the market. Based on age group, the global hydrocephalus shunts market can be classified into infants, toddlers, children, and adults.
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The infants segment is anticipated to expand at the fastest CAGR during the forecast period due to rise in prevalence of hydrocephalus among infants and increase in importance of treatment of hydrocephalus. In terms of end-user, the hydrocephalus shunts market can be categorized into hospitals and ambulatory surgical centers. The hospitals segment is expected to account for the largest hydrocephalus shunts market share owing to increase in the number of neurological surgeries and surge in demand for valves and neuronavigation systems for the treatment of hydroenchalus.
The global hydrocephalus shunts market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for the largest market share during the forecast period. The hydrocephalus shunts market in the region is driven by rise in the number of patients with hydrocephalus and growing emphasis on management of neurological disorders among adults and children.
According to the Hydrocephalus Foundation, hydrocephalus affects nearly 1 million people in the U.S. and 1 in every 1,000 babies has hydrocephalus. The hydrocephalus shunts market in Europe is anticipated to grow at a rapid pace from 2018 to 2026 due to technological advancements in the field of neurology, research projects undertaken by a number of neurological centers & research institutes, and high demand for hydrocephalus shunts in countries such as Germany, France, and the U.K.
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The hydrocephalus shunts market in Asia Pacific is expected to expand at the fastest CAGR during the forecast period driven by increase in awareness about the use of neurological systems to treat hydrocephalus and rise in the number of neurological diagnostic and treatment services in emerging markets such as India.
Key players operating in the global hydrocephalus shunts market are B. Braun Melsungen AG, Medtronic, Sophysa, Integra LifeSciences Corporation, Spiegelberg GmbH & Co. KG, DePuy Synthes (Johnson & Johnson), Anuncia, Fuji Systems Corp., Kaneka Medix Corp., and Christoph Miethke GmbH & Co. KG.
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