PUBLISHER: Grand View Research | PRODUCT CODE: 1404794
PUBLISHER: Grand View Research | PRODUCT CODE: 1404794
The global hydrocephalus shunts market size is anticipated to reach USD 599.42 million by 2030, registering at a CAGR of 3.99% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing public and private funding for neurological disorders treatments, increasing clinical studies for the product development, and the rise in regulatory approval for product launch are key contributors to the market growth.
The industry key players are also involved in developing devices for the treatment of hydrocephalus and other neurological disorders. The increasing clinical studies for the product portfolio development further drives the growth of the market. For instance, in October 2023, as part of the ongoing clinical trials evaluating the effectiveness of the device for the treatment of communicating hydrocephalus, CereVasc, Inc. revealed that a milestone 30th patient received the eShunt Implant. The first of these pilot studies, which was carried out in Argentina under regulatory approval from the National Administration of Drugs, Food and Medical Devices (ANMAT), and the second was executed in the U.S. under FDA approval for an Investigational Device Exemption (IDE) to study a minimally invasive treatment for communicating hydrocephalus. Thus, due to such positive outcomes from the clinical studies will drive the market growth in near future.