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Cerebrospinal Fluid Management Market | High Prevalence of Hydrocephalus

 



(PharmaNewsWire.Com, July 30, 2020 ) Cerebrospinal fluid (CSF) management involves the use of devices such as shunts and external drainage systems to maintain the flow of CSF and drain excess fluid from the brain. Over the years, the disease burden of hydrocephalus has increased considerably, increasing the demand for CSF management devices as a method of treatment. The high prevalence of hydrocephalus and the subsequent increase in the number of shunting procedures and the growing geriatric population are major factors driving the market growth. The growing healthcare market in developing economies is also expected to provide growth opportunities for players in the market. On the other hand, the dearth of trained professionals and complications related to CSF shunts may challenge market growth to a certain extent.

The cerebrospinal fluid management market is projected to reach USD 1,561.1 million by 2022 from an estimated USD 1,256.3 million in 2017, at a CAGR of 4.4%. Asia Pacific is the third-largest market for CSF management and is slated to register the highest CAGR during the forecast period. Factors contributing to this growth include the high prevalence of congenital hydrocephalus in China, a growing geriatric population in Japan, and increasing medical tourism in India and several RoAPAC countries.

Market Dynamics

Market Drivers
Market Opportunity
Challenge

Driver:  High prevalence of hydrocephalus and the subsequent increase in the number of shunting procedures

Hydrocephalus affects a large number of people worldwide. According to the Hydrocephalus Association, more than 1 million people in the US are reportedly suffering from hydrocephalus. Similarly, 700,000 older Americans are living with normal pressure hydrocephalus (NPH). According to CURE Hydrocephalus estimates, over 400,000 newborns suffer from infant hydrocephalus around the globe each year. Moreover, congenital hydrocephalus affects a huge number of infants worldwide.

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Opportunity: Growing healthcare market in developing economies

Brazil, Russia, India, China, and South Africa (BRICS) are among the fastest-growing economies in the world. The World Economic Forum estimates that these emerging economies will account for around one-third of the global healthcare expenditure by 2020. Moreover, more than half of the world’s population resides in India and China, owing to which these countries are home to a large patient pool.

Hydrocephalus affects a large number of people in developing countries. According to CURE Hydrocephalus, of the total number of children born with hydrocephalus globally, 79% are born in the developing world. It was estimated that there were over 6,000 new cases of hydrocephalus reported per year in East Africa. According to the International Federation for Spina Bifida and Hydrocephalus, over 375,000 new cases of infant hydrocephalus are reported in sub-Saharan Africa each year.

The presence of such a huge patient base in the emerging economies, along with rising healthcare expenditure, is expected to serve as an opportunity for players in the CSF management market.

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Recent Developments

In 2018, Aesculap, a subsidiary of B. Braun entered into a joint venture with Christoph Miethke GmbH & Co. KG. to form B. Braun Miethke GmbH & Co. KG. The joint venture is expected to strengthen B. Braun's offering in the CSF management market.
In 2017, Integra LifeSciences acquired Johnson & Johnson Codman Neurosurgery, this acquisition aimed at enhancing Integra’s product portfolio and position in the neurosurgery market.
In 2017, Natus medical acquired certain neurosurgery business assets from Integra LifeSciences. The businesses acquired include the global Camino ICP monitoring product line along with its San Diego manufacturing facility, and the US rights to Integra's fixed pressure shunts and Codman's DURAFORM dural graft implant, standard EVD catheters, and CSF collection systems. This acquisition is expected to strengthen the company’s offering in CSF management market.
In 2014, B. Braun Medical opened a new subsidiary, B. Braun of Canada. This helped expand the company’s presence in the North American market.

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

raviraj.tak@marketsandmarkets.com

Source: EmailWire.Com

Source: EmailWire.com


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