Hydrocephalus Market Size Is Estimated To Reach USD 1,752.07 Million By 2023

The global Hydrocephalus Market Size is estimated to balloon to USD 1,752.07 million by 2023, asserts Market Research Future (MRFR). It can exhibit 4.4% CAGR over the forecast period (2018-2023).

Hydrocephalus is chronic, neurological condition characterized by excess accumulation of cerebrospinal fluid in the ventricles deep within the brain. The excess fluid accumulation increases the size of ventricles thereby putting pressure on the brain. The symptoms include headache, impaired vision, cognitive difficulties, incontinence, decline in memory and loss of coordination. The treatment mainly includes medication like diuretics, ventriculoperitoneal shunt and ventriculostomy.

According to Hydrocephalus Association in 2015, one out of every 1,000 babies are born with hydrocephalus. Thus, making this condition more common than brain tumors or other brain related diseases.

The increasing prevalence of hydrocephalus and rising demand for better treatment option are major drivers for market growth. Moreover, growing pediatric population and increasing in healthcare expenditure further fuels the market growth.

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Competitive Analysis:

HLL Lifecare Limited (India), Christoph Miethke GmbH & Co. KG (Germany), Codman & Shurtleff, Inc. (U.S), DePuy Synthes (U.S), Integra Lifescience Holding Corporation (U.S.), Medtronic (U.S.), SOPHYSA Inc. (France), RAUMEDIC AG (U.S.), Spiegelberg GmbH & Co. (Germany), Tokibno Co. Ltd. (Japan) and Vittamed (U.S.) are some key players in global hydrocephalus market.

The global hydrocephalus market is observed to be growing due to rising prevalence of hydrocephalus in pediatric population and adults. North America dominates the market owing to well-developed healthcare sector and presence of key players like Codman & Shurtleff Inc., Integra Lifescience Holding Corporation, and Medtronic fuels the market growth in this region. The key players in the global hydrocephalus market have strategy of maintaining their position in the market through mergers and acquisitions, strategic tie-ups, new product launches and regional expansion.

In October 2017, Integra Lifesciences, a leading company in medical technology stated complete acquisition of Johnson & Johnson Codman Neurosurgery business for USD 1.045 billion. With this acquisition, Integra strengthened its position in neurosurgical products market.

Regional Analysis:

The American region is the largest market for hydrocephalus due to the presence of well-developed healthcare sector and rising prevalence of hydrocephalus. The Americas are divided into North America and South America. Globally, North America dominates the market owing to the presence of developed economies like Canada and United States in this region. Moreover, rising healthcare expenditure, growing pediatric population and increasing awareness of the disease fuels the market growth in this region.

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Europe is the second largest market for hydrocephalus due to growing patient population, increasing research and development and increasing in pediatric population. On regional basis, Europe is divided into Eastern Europe and Western Europe. Eastern Europe is rapidly growing region followed by Western Europe.

Asia Pacific is projected to be the fastest growing region owing to the presence of developing economies like China, India, Australia and increasing expenditure in healthcare.

The Middle East and Africa is the least growing region in hydrocephalus market. The Middle East region makes majority of the market due to the presence of developed economies like Saudi Arabia, Dubai, Kuwait and other developed countries within the region. African region has least market share due to lack of awareness and poor economic conditions.

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