PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1462650
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1462650
According to Stratistics MRC, the Global Hydrocephalus Shunt Market is accounted for $322.2 million in 2023 and is expected to reach $487.6 million by 2030 growing at a CAGR of 6.1% during the forecast period. An apparatus used in clinical practice to help treat a mental illness involving excessive cerebrospinal fluid collection is referred to as a hydrocephalus shunt. An expanded intracranial pressing factor is the result of this condition in the skull. The fluid collection caused by these devices helps reduce stress in the brain. Shunts are surgically implanted devices designed to divert excess cerebrospinal fluid from the brain to another part of the body, typically the abdominal cavity, where it can be absorbed naturally.
According to an article published by the American Society for Biochemistry and Molecular Biology in March 2021, in the United States, about 2.8 million people sustain a traumatic brain injury (TBI) every year, with some 280,000 resulting in hospitalizations.
Advancements in shunt technology
The advancements encompass a wide range of improvements, including the development of programmable and adjustable shunt systems, utilization of novel materials for improved biocompatibility and longevity, and the introduction of minimally invasive surgical techniques. Programmable shunts offer the ability to adjust flow settings post-implantation, providing greater flexibility in managing patients' hydrocephalus symptoms. Additionally, the integration of innovative materials into shunt designs enhances their performance and reduces the risk of complications such as infection and blockage.
Cost constraints
Hydrocephalus, a condition characterized by an accumulation of cerebrospinal fluid in the brain, often requires surgical intervention with shunt devices to alleviate symptoms. The high cost associated with shunt placement, including surgery, device implantation, and ongoing maintenance, poses financial burdens for patients and healthcare providers alike. However, limited insurance coverage, particularly in regions with inadequate healthcare infrastructure, further exacerbates the issue, potentially delaying or denying access to essential treatment.
Growing demand for minimally invasive surgical procedures
Minimally invasive techniques offer several advantages over traditional open surgeries, including reduced trauma, faster recovery times, shorter hospital stays, and minimized risk of complications such as infection and bleeding. In the context of hydrocephalus, where patients often require shunt implantation to manage excess cerebrospinal fluid buildup, minimally invasive approaches provide a less invasive alternative to traditional methods. These techniques typically involve smaller incisions, specialized tools, and sometimes even endoscopic guidance, allowing surgeons to place shunts with greater precision and minimal disruption to surrounding tissues.
Inadequate access to care
Hydrocephalus, a condition characterized by an accumulation of cerebrospinal fluid within the brain, often requires surgical intervention with shunts to alleviate symptoms. However, disparities in healthcare infrastructure, particularly in underserved regions and developing countries, limit access to timely diagnosis, treatment, and follow-up care. Factors such as limited healthcare facilities, insufficient trained medical personnel, and financial constraints contribute to this challenge. Consequently, many individuals with hydrocephalus lack access to essential shunt surgeries or experience delays in receiving them, leading to increased morbidity and mortality rates.
As healthcare systems worldwide redirected resources to combat the pandemic, elective surgeries, including those for hydrocephalus, were postponed or canceled to prioritize COVID-19 patients and minimize transmission risks. This led to a decrease in shunt implantations and replacements, resulting in a downturn in the market. Moreover, restrictions on non-essential medical procedures, coupled with patients' reluctance to visit hospitals due to fear of contracting the virus, further dampened demand.
The Hydrocephalus Catheter segment is expected to be the largest during the forecast period
Hydrocephalus Catheter segment commanded the largest share of the market over the projection period as advancements in catheter design and materials have improved the efficacy and longevity of shunt systems, enhancing patient outcomes and reducing the need for revision surgeries. The increasing prevalence of conditions such as congenital hydrocephalus and normal pressure hydrocephalus is fueling demand for effective treatment options, leading to a rising number of hydrocephalus shunt procedures worldwide. Moreover, technological innovations in catheter manufacturing have allowed for the development of minimally invasive techniques, making shunt placement procedures safer and more accessible to patients.
The Ventriculoperitoneal Shunts segment is expected to have the highest CAGR during the forecast period
Ventriculoperitoneal Shunts segment is poised to witness profitable growth during the overcast period due to its effectiveness and widespread adoption in treating hydrocephalus-a condition characterized by the accumulation of cerebrospinal fluid in the brain's ventricles. VP shunts offer a minimally invasive solution by diverting excess fluid from the brain's ventricles to the peritoneal cavity, where it can be naturally absorbed by the body. This approach not only relieves intracranial pressure but also helps alleviate symptoms associated with hydrocephalus, such as headaches, nausea, and cognitive impairment.
Because of the rising prevalence of neurological disorders, patients' preference for less invasive procedures, rising healthcare costs, and improved research and development efforts leading to advancements in shunt technology, the hydrocephalus shunts market has grown most rapidly in North America, accounting for the largest revenue share over the extrapolated period. The Centers for Medicare & Medicaid Services (CMS), for instance, projected that in 2022, health spending in the United States would be 7.5%. The first time that spending is expected to surpass $1 trillion USD is in 2023.
Because of the region's improved healthcare infrastructure, rising number of surgeries, and government agreements to expand the medical device portfolio, the Asia Pacific market is expected to grow profitably over the projected period. For instance, the prime ministers of Japan and India approved a five-year financial plan and an investment of USD 42 billion in March 2022 to support a joint venture in medical equipment production. Due to rising healthcare costs, India's healthcare system is witnessing a shift in its service portfolio from nursing care to preventative care for disease control.
Key players in the market
Some of the key players in Hydrocephalus Shunt market include Aesculap, Inc, B. Braun Melsungen AG, Christoph Miethke GmbH & Co. KG, G. Surgiwear Ltd, Integra LifeSciences, Johnson & Johnson, Medtronic, Natus Medical Incorporated, Sophysa and Spiegelberg GmbH & Co. KG.
In November 2023, for young patients suffering from hydrocephalus-a neurological disorder that results in an accumulation of cerebral fluid in the interior spaces of the brain which often requires repeated hospital stays-surgeons at Intermountain Primary Children's Hospital successfully placed a novel brain shunt accessory, becoming the first hospital in the U.S. to accomplish the same.
In October 2023, through its Blueprint MedTech initiative, the NINDS (National Institute of Neurological Disorders and Stroke) of the National Institutes of Health (NIH) awarded Rhaeos, Inc. a USD 1.5 million grant. With this award, the company will continue to develop its FDA-designated breakthrough medical technology, which aims to revolutionize the treatment of hydrocephalus, a brain disorder that affects more than a million people in the U.S.
In July 2023, Cerevasc Inc. partnered with Lianmedical Co. Ltd. to introduce its medical devices for neurological diseases in Asia. Lianmedical marketed Cerevasc's eshunt system and related products in mainland China, Hong Kong, Taiwan, and Macau, facilitating percutaneous transvenous-transdural access to the central nervous system.