Future Growth of Cerebrospinal Fluid Management Market by Focusing on Players as Medtronic,Natus Medical,Deltasurgical
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B. Braun Melsungen
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Cerebrospinal Fluid Management (CSF) Market size is projected to experience significant growth from 2018 to 2024.
Rise in prevalence hydrocephalus in worldwide population should stimulate cerebrospinal fluid (CSF) management market growth over the forecast timeframe. According to Hydrocephalus Association, one in 1,000 new born and 1 in 100 elder people are diagnosed with hydrocephalus. In addition, factors such as tumors, infections and hemorrhage increase the risk of disease in pediatric population. Lack of preventive measures for this disease will further lead to increase in incidence rate. Availability of limited number of alternatives to cure hydrocephalus will thereby augment CSF management market growth in forthcoming period.
Increasing geriatric population will impel the demand for cerebrospinal fluid management devices in upcoming period. According to United Nations statistics, world geriatric population is estimated to double by 2050, reaching to about 2.1 billion. Elderly people are vulnerable to suffer from normal pressure hydrocephalus (NPH). Approximately 10-15% older population affected with dementia are expected to be suffering from treatable NPH. Thus, increasing number of elderly population, rise in number of dementia cases and other associated neurological disorders will positively impact market growth over the projected timeframe.
High cost of CSF management devices can restrain market growth. Although, availability of reimbursement policies can boost rise in market share in recent years. There is presence of reimbursements for various shunts in hospitals, outpatient departments as well as ambulatory surgical centers in some developed countries. This will favor rise in adoption of CSF management devices in developed nations, thereby fostering industry growth during the forecast timeframe.
Prominent companies of global cerebrospinal fluid management market include B. Braun Melsungen, Deltasurgical, Dispomedica, G.Surgiwear, Integra Lifesciences, Medtronic, Moller Medical, Natus Medical, Sophysa, Spiegelberg and Wellong Instruments. These companies adopt strategic initiatives such as innovative product launch, partnership and geographical expansion for improving their market share. For instance, in February 2017, Integra Lifesciences announced about its decision to acquire Codman Neurosurgery Business that will fortify company’s product portfolio in neurology segment, thus increasing its customer base.
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Cerebrospinal fluid management market by product, 2013-2024 (USD Million)
o By type
o By valve type
• External drainage systems
o External Ventricular Drainage (EVD) Systems
o Lumbar Drainage (LD) Systems
Cerebrospinal fluid management market by age-group, 2013-2024 (USD Million)
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