Portland, OR, Nov. 10, 2020 (GLOBE NEWSWIRE) -- As per the report, the global hydrocephalus shunts market was pegged at $291.0 million in 2019, and is projected to reach $322.01 million by 2027, growing at a CAGR of 2.8% from 2020 to 2027.
Rise in prevalence of hydrocephalus, surge in incidences of neurological disorders, and increase in adoption of advanced programmable valves drive the growth of the global hydrocephalus shunts market. However, shunt malfunction & related infections and shunt-free treatment for hydrocephalus hamper the market. On the contrary, advancements in smart shunt technology are expected to create lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- Since the Covid-19 outbreak, the inconsistent and interrupted supply of raw materials coupled with lack of workforce has created challenges for market players.
- Due to a sudden increase in Covid-19 patients in various regions, hospitals ran out of resources, neurological wards and clinics. In addition, the majority of the neurosurgeons were reassigned to the Covid-19 ward.
- Since government-imposed lockdown measures, various conferences organized by neurological societies and associated have been postponed.
The global hydrocephalus shunts market is segmented on the basis of type, age group, and geography. Based on type, the market is divided into ventriculo-peritoneal, ventriculo-atrial, ventriculo-pleural, and lumbo-peritoneal. The ventriculo-peritoneal segment held the largest share in 2019, accounting for more than two-fifths of the market. However, the ventriculo-pleural segment is projected to register the highest CAGR of 3.3% during the forecast period.
On the basis of age group, the market is categorized into infants, children, and adults. The adult segment is anticipated to portray the highest CAGR of 3.0% during the forecast period. However, the children segment dominated the market in 2019, contributing to nearly half of the market.
The global hydrocephalus shunts market is analyzed across various regions such as North America, LAMEA, Asia-Pacific, and Europe. The market across Asia-Pacific is anticipated to register the highest CAGR of 3.3% during the forecast period. However, the market across North America held the largest share in 2019, accounting for more than two-fifths of the market.
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The global hydrocephalus shunts market report includes an in-depth analysis of the major market players such as G. Surgiwear Ltd., Christoph Miethke GmbH & Co. KG, HpBio Próteses, Inc., HLL Lifecare Limited, Kaneka Medix Corporation, Integra Life Sciences, Natus Medical Incorporated, Medtronic plc, Tokibo Co., Ltd., and Spiegelberg GmbH & CO. KG.
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