Hydrocephalus Shunts Market to Garner US$ 360.01 million, Globally, by 2028 at 3.4% CAGR: Premium Market Insights

According to Premium Market Insights new research study on "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.

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Some Of the Major Players Influencing are B. Braun Melsungen AG (CHRISTOPH MIETHKE GMBH & CO. KG), Sophysa, HpBio Pr?teses, inc., Integra LifeSciences Holdings Corporation,KANEKA MEDIX CORP., Medtronic, Natus Medical Incorporated, Spiegelberg GmbH & Co. KG, Desu Medical
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.

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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.

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The growing concern regarding the spread of COVID-19 led a majority of healthcare systems to postpone or cancel non-essential medical procedures in 2020. During the pandemic, there was an unexpected decrease in the number of shunt surgeries performed, particularly in the number of revision surgeries performed. Several medical device companies either withdrew or revised their financial projections and revenue guidelines for 2020. For Instance, Medtronic predicted a significant negative impact on revenue across major markets due to ~65-85% drop in surgical procedures in the second quarter of 2020.

COVID-19 deranged routine hospital services globally. Hospitals around the world witnessed a huge reduction in elective surgery procedures for ensuring patient safety. Similarly, the introduction of disruptive technologies, such as "eShunt system," would propel the growth of the hydrocephalus shunts market post-pandemic.

Table Of Contents
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Hydrocephalus Shunts Market - By Product
1.3.2 Global Hydrocephalus Shunts Market - By Type
1.3.3 Global Hydrocephalus Shunts Market - By Age Group
1.3.4 Global Hydrocephalus Shunts Market - By End User
1.3.5 Global Hydrocephalus Shunts Market - By Geography
2. Hydrocephalus Shunts Market- Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Hydrocephalus Shunts Market - Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America - PEST Analysis
4.2.2 Europe- PEST Analysis
4.2.3 Asia Pacific- PEST Analysis
4.2.4 Middle East & Africa- PEST Analysis
4.2.5 South & Central America - PEST Analysis
4.3 Expert Opinion
5. Hydrocephalus Shunts Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Prevalence of Hydrocephalus
5.1.2 Advancements in Hydrocephalus Valves
5.2 Market Restraints
5.2.1 High Cost of Treatments Involving Shunts and Needs for Revision Surgeries
5.3 Market Opportunities
5.3.1 Increasing Funding by Public and Private Organizations
5.4 Future Trends
5.4.1 Business Synergy Through Strategic Alliances
5.5 Impact Analysis
Continued…...!

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This release was published on openPR.