Press release
Hydrocephalus Shunts Market Revenue to Cross USD 322.01 million by 2027
Hydrocephalus Shunts Market
The increase in the number of hydrocephalic patients worldwide is mainly attributed to the growth of the hydrocephalus shunt market. For example, according to the National Institute of Neurological Disorders and Stroke, in 2020, globally, 1 to 2 babies out of every 1,000 will be born with hydrocephalus. Thus, given the total number of newborns born each year, the incidence of hydrocephalus is likely to increase in the future. Due to increase in incidence of neurological disorders due to congenital malformations and lifestyle diseases as well as increase in incidence of brain and nerve injuries, the demand for hydrocephalic shunts increases. In addition, the use of advanced programmable valves allows the neurosurgeon to externally adjust the pressure of the valve used in the shunt during treatment.
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The key market players profiled in the report include Christoph Miethke GmbH & Co. KG, G. Surgiwear Ltd., HLL Lifecare Limited, HpBio Próteses, Inc., Integra Life Sciences, Kaneka Medix Corporation, Medtronic plc, Natus Medical Incorporated, Spiegelberg GmbH & CO. KG, and Tokibo Co., Ltd.
Global Hydrocephalus Shunts Market Segmentation -
Based on type, the market is segmented into Ventriculo-peritoneal shunts, Ventriculo-atrial shunts, Ventriculo-pleural shunts and Lumbo-peritoneal shunts. VP shunts are considered the first line of treatment for hydrocephalus by various neurosurgeons worldwide. Developments in neurosurgical techniques along with advances in shunt technology are leading to progressive changes in the fabrication of VP shunt components.
On the basis of age group, the hydrocephalus shunts market is segmented into infants, children and adults. The pediatric age group is expected to generate the highest revenue in 2019 owing to the increase in the incidence of acquired and decompensated hydrocephalus in children. Consequently, the demand for hydrocephalic shunts for this age group is expected to be the largest during the forecast period.
By region, the market is analyzed in North America, Europe, Asia-Pacific and LAMEA. North America is expected to maintain its dominance during the forecast period owing to the presence of major medical device companies in the region. These companies are investing heavily in R&D of neurosurgical devices to reduce the economic and social burden of hydrocephalus, as the disorder is considered more common than deafness and Down syndrome.
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By Region Outlook
North America
⦁ U.S.
⦁ Canada
⦁ Mexico
Europe
⦁ UK
⦁ Germany
⦁ France
⦁ Italy
⦁ Russia
⦁ Rest of Europe
Asia-Pacific
⦁ China
⦁ Japan
⦁ India
⦁ Australia
⦁ Rest of Asia-Pacific
LAMEA
⦁ Brazil
⦁ UAE
⦁ Turkey
⦁ Saudi Arabia
⦁ Rest of LAMEA
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