PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455668
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1455668
Hydrocephalus shunts Market size was valued at USD 470.45 Million in 2023, expanding at a CAGR of 2.81% from 2024 to 2032.
Hydrocephalus shunts are medical equipment utilized for managing hydrocephalus, a condition characterized by the accumulation of cerebrospinal fluid in the brain. These shunts comprise a system of tubes and valves designed to redirect excess fluid from the brain to another part of the body, typically the abdominal cavity, where it can be naturally absorbed. By regulating cerebrospinal fluid flow, hydrocephalus shunts assist in relieving pressure on the brain, thus preventing potential damage and alleviating symptoms such as headaches, nausea, and cognitive impairments.
Hydrocephalus shunts Market- Market Dynamics
Advancements in shunt technology, a rise in the number of patients afflicted with hydrocephalus, and increasing healthcare awareness to propel market demand
The demand for hydrocephalus shunts is poised to increase due to advancements in shunt technology, a rise in the number of patients afflicted with hydrocephalus, and increasing healthcare awareness. Furthermore, the growing geriatric population is expected to further drive demand for hydrocephalus shunts in the forecast period. Heightened awareness may lead to earlier diagnosis and treatment of hydrocephalus, resulting in increased demand for shunts as more individuals require surgery. Enhanced patient outcomes can be achieved through increased knowledge, as faster recognition and treatment of hydrocephalus can occur. This could enhance the credibility of shunts as an effective therapeutic option. A deeper understanding may also lead to more healthcare professionals receiving education and training in hydrocephalus shunt usage, thereby potentially boosting industry growth by increasing the pool of competent providers. For example, according to data from the Hydrocephalus Association, World Hydrocephalus Day was commemorated on September 20th, 2023, in the U.S., aiming to raise awareness about hydrocephalus disorders and demonstrate support for those affected by this neurological condition. This formally recognized annual awareness day garnered participation from numerous nations worldwide, including Israel, Great Britain, Australia, Canada, Nigeria, and Sweden. Additionally, the rising elderly population emerges as a significant factor driving the hydrocephalus shunts market over the forecast period. According to reports from the World Health Organization (WHO), around 80% of elderly individuals by 2050 will reside in low or middle-income countries. Furthermore, it is projected that the number of individuals aged 80 years or older will reach approximately 426 million by 2050. Consequently, with the ongoing increase in the geriatric population, the rise in short- and long-term healthcare needs is expected to propel the growth of the hydrocephalus shunts market globally.
Hydrocephalus shunts Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 2.81% over the forecast period (2024-2032)
Based on product type segmentation, valves was predicted to show maximum market share in the year 2023
Based on End User segmentation, hospitals was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Hydrocephalus shunts Market is segmented on the basis of Product Type, End User, and Region.
The market is divided into two categories based on product type: Valves and Catheters. In 2023, the valves segment emerged as the dominant force in the hydrocephalus shunts market, holding a significant market share. Valves are an integral component of hydrocephalus shunt systems, responsible for regulating cerebrospinal fluid (CSF) flow to maintain appropriate intracranial pressure levels. Pressure valves come in various designs, including fixed, programmed, and adjustable models, enabling healthcare professionals to tailor treatment to meet the unique needs of individual patients.
The market is divided into two categories based on End User: Hospitals and Ambulatory Surgical Centers. The hospitals segment claimed the largest portion of the hydrocephalus shunts market in 2023. Hospitals, particularly those specializing in pediatric and neurosurgery, often possess the necessary facilities and expertise to diagnose and manage hydrocephalus effectively. Collaborations between hospitals and shunt manufacturers can facilitate training, support, and access to cutting-edge technologies, ultimately leading to improved patient outcomes and care. Hospitals serve as the primary setting for treating patients with hydrocephalus due to their access to advanced medical equipment and a skilled team of healthcare professionals. Surgical procedures includes Ventriculoatrial Shunt, Ventriculoperitoneal Shunt, and Lumboperitoneal Shunt placement surgeries are routinely performed in hospitals to address hydrocephalus.
Hydrocephalus shunts Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Within the market, companies are employing diverse strategies to enhance hydrocephalus shunt technology. These efforts encompass advancements in shunt materials aimed at enhancing biocompatibility and reducing the risk of complications such as infections or blockages. Additionally, there is a focus on developing shunts equipped with adjustable valves, allowing for post-implantation fine-tuning to optimize fluid flow according to individual patient requirements. Furthermore, innovations in minimally invasive surgical techniques are being pursued to mitigate procedure-related risks and enhance patient outcomes, thereby propelling growth and improving accessibility in the hydrocephalus shunt market.
In November 2023, surgeons at Intermountain Primary Children's Hospital achieved a significant milestone by successfully implanting a novel brain shunt accessory for young patients grappling with hydrocephalus-a neurological disorder characterized by the accumulation of cerebral fluid in the brain's cavities, often necessitating recurrent hospitalizations. This accomplishment marked Intermountain Primary Children's Hospital as the inaugural institution in the U.S. to achieve this feat.
GLOBAL HYDROCEPHALUS SHUNTS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Medtronic
Aesculap, Inc.
Spiegelberg GmbH & Co. KG.
Integra LifeSciences
Sophysa
CHRISTOPH MIETHKE GMBH & CO. KG
Hpbio
G. Surgiwear Ltd
Bicakcilar
Others