The market is driven by the increase in investment in research and development in the field of cerebrospinal fluid management and increasing geriatric population worldwide
Market Size – USD 1.45 billion in 2018, Market Growth - CAGR of 4.7%, Market Trends –Tremendous rise in the procedures of shunting and the increase in population of geriatric globally
NEW YORK, April 01, 2019 (GLOBE NEWSWIRE) -- The Cerebrospinal Fluid Management Market was valued at USD 1.45 Billion in 2018 and is expected to reach USD 2.11 Billion by 2026, at a CAGR of 4.7% during the forecast period. The increase in investment in research and development in the field of cerebrospinal fluid management and increasing geriatric population worldwide are key factors driving the growth of the market for managing cerebrospinal fluids.
The growth of the CSF management market is driven by factors such as the high hydrocephalus prevalence and subsequent increase in the number of shunting procedures and increased geriatric population.
Worldwide, there is a significant shortage of neurophysicists and neurochirurgists. With the fast-growing aging population, the current number of neurochirurgists is insufficient to meet the demand for health care.
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One of the biggest limitations is the inability to produce in the required amount of time a sufficient number of trained neurosurgeons. This lack of trained neurochirurgical professionals extends to North America, Europe, Asia Pacific, Latin America, and Africa.
Further key findings from the report suggest
- The Cerebrospinal Fluid Management market was valued at USD 1.45 Billion in 2018 and is expected to reach USD 2.11 Billion by 2026, at a CAGR of 4.7% during the forecast period. The increase in investment in research and development in the field of cerebrospinal fluid management and increasing geriatric population worldwide are key factors driving the growth of the market for managing cerebrospinal fluids.
- The market for hospitals is expected to grow the largest and is estimated to reach at USD 781.5 Million in 2026, at a CAGR of 5.4%, owing to large number of in-hospital cases related to cerebrospinal fluid management in elderly population. The market for Ambulatory Surgical Centers and Diagnostic Centers is expected to grow at the highest CAGR of 6.1% during the forecast period owing to the low cost in relation with surgery in the facility.
- The market for shunts is estimated to reach USD 1065.1 Million in 2026, at a CAGR of 7.2%, during the forecast period. The increasing growth in the shunts market can be attributed primarily to the increasing number of worldwide shunting procedures and the increasing number of revision shunt surgeries.
- The market for pediatric is expected to reach USD 663.6 Million in 2026, at a CAGR of 5.8% during the forecast period. This can be attributed primarily to the high prevalence of congenital hydrocephalus in the pediatric population along with the increasing number of shunting procedures.
- The market for Asia Pacific (APAC) is expected to reach USD 634.7 Million in 2026, at a CAGR of 6.6%. Developing economies like Russia, India, Brazil, China, and South Africa are among the fastest growing hydrocephalus-based economies in the world. It is expected that the presence of such a huge patient base in this region, along with rising healthcare spending, will serve as an opportunity for players in the CSF management market.
- The key players in the market are Dispomedica (Germany), Sophysa (France), Spiegelberg GmbH (Germany), Medtronic plc (Ireland), Integra LifeSciences (US), B. Braun (Germany), DePuy Synthes (US), Argi Grup (Turkey), Moller Medical (Germany), Sophysa (France and others.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of types, end use, patient type and regional analysis.
Types (Revenue, USD Million; 2016-2026)
- Shunts
- Ventriculoperitoneal Shunts
- Ventriculoatrial Shunts
- Lumboperitoneal Shunts
- Ventriculopleural Shunts
- Fixed Valve Shunts
- Adjustable Valve Shunts
- External Drainage Systems
- External Ventricular Drainage Systems
- Lumbar Drainage Systems
End Use (Revenue, USD Million; 2016-2026)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
Patient Type (Revenue, USD Million; 2016-2026)
- Pediatric
- Adult
- Geriatric
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Region (Thousand, Units and Revenue, USD Million; 2016-2026)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
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