Hydrocephalus Market to Reach $10.17 Billion, Globally, by 2030 at 4.0% CAGR: Allied Market Research
PORTLAND, Ore., Jan. 19, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Hydrocephalus Market by Cause (Congenital hydrocephalus and Acquired hydrocephalus), Type (Communicating hydrocephalus and non-communicating hydrocephalus), Diagnosis (CT scan, MRI, and Ultrasound), Treatment (Surgery Shunt Insertion and Ventriculostomy), and Age (Neonate & Pediatrics and Adults): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global hydrocephalus industry generated $6.90 billion in 2020, and is expected to reach $10.17 billion by 2030, witnessing a CAGR of 4.0% from 2021 to 2030.
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Drivers, restraints, and opportunities
Increase in prevalence of hydrocephalus, rise in adoption of hydrocephalus shunt, and surge in incidences of neurological disorders drive the growth of the global hydrocephalus market. However, shunt malfunctioning and related infections hinder the market growth. On the other hand, advancements in technology in the healthcare sector present new opportunities in the coming years.
Covid-19 Scenario
- Owing to lockdown restrictions and the possibility of cross-contamination, the patient flow was reduced substantially. However, the demand for advanced programmable shunts for the treatment of hydrocephalic patients is estimated to increase worldwide.
- The advent of disruptive technologies such as the "eShunt system" is estimated to boost the growth of the hydrocephalus market post-pandemic.
The acquired hydrocephalus segment to continue its dominance during the forecast period
Based on cause, the acquired hydrocephalus segment contributed to the highest share in 2020, accounting for more than half of the global hydrocephalus market, and is projected to continue its dominance during the forecast period. This is due to increase in neurological disorders and injuries such as intraventricular hemorrhage, stroke, tumor, and several other types of CSF infections that can result in the development of hydrocephalic conditions among patients. However, the congenital hydrocephalus segment is projected to witness the largest CAGR of 4.3% from 2021 to 2030.
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The adults segment to continue its leadership status during the forecast period
Based on age, the adults segment accounted for the largest share in 2020, holding more than half of the global hydrocephalus market, and is expected to continue its leadership status during the forecast period. Moreover, this segment is projected to register the highest CAGR of 4.3% from 2021 to 2030. This is due to rise in the incidences of intraventricular hemorrhage or other brain injuries. The report also analyzes the neonate and pediatrics segment.
North America to continue its lead in terms of revenue by 2030
Based on region, North America held the highest market share in 2020, accounting for more than two-fifths of the global hydrocephalus market, and is expected to continue its lead in terms of revenue by 2030. This is due to rise in prevalence of the neurological disorder, increase in the number of hydrocephalus patients, development of advanced healthcare medical devices, and advancements in technology for hydrocephalus in the region. However, Asia-Pacific is expected to manifest the fastest CAGR of 5.0% during the forecast period. This is due to rise in awareness regarding minimally invasive surgeries, surge in cases of stroke and CSF related disorders, and technological advancements.
Leading Market Players
- Aesculap Inc.
- Integra Lifesciences
- Karl Storz Se And Co. Kg
- Proteses Inc.
- Medtronic Plc.
- Natus Medical Inc.
- Boston Children's Hospital
- Anadolu Medical Center
- Helios Hospital
- Texas Children's Hospital
- Children's National Hospital
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