North America is estimated to have a significant share of the hydrocephalus shunt market, followed by Europe.
PORTLAND, Oregon, US, January 5, 2022 /EINPresswire.com/ — Study presents imminent revenue forecast, according to the report “Hydrocephalus Shunts Market: Opportunity Analysis and Industry Forecast, 2020-2027” published by Allied Market Research Coupled with the impending market trends and opportunities of the industry for years. Apart from this, the study also makes various logical tables and graphs to identify the complexities of the market. A complete and comprehensive evaluation of the aspects that drive and restrain the growth of the market throughout the study is also provided. A detailed exploration of the market size and its proper segmentation helps the market players to define the prevailing opportunities that are coming up in a big way.
The global hydrocephalus shunt market size was $0.29 billion in 2019 and is projected to reach $0.32 billion by 2027, registering a CAGR of 2.8% from 2020 to 2027. The human brain is surrounded by cerebrospinal fluid (CSF) within the brain cavity. , CSF is produced by the two lateral ventricles and is further passed through the third and fourth ventricles post circulation of fluid around the spinal cord and brain.
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This growth rate has been attributed to an increase in the prevalence of hydrocephalus worldwide, an increase in the incidence of brain and neurological disorders, and a shift in neurosurgeons’ preferences toward the latest shunt technologies such as antisyphon devices and advance programmable valves. Conversely, the availability of shunt-free treatments for shunt malfunction and associated infections and hydrocephalus hinders the growth of the hydrocephalus shunt market. Furthermore, developments in smart shunt technology provide profitable opportunities for the major players to increase their share of the global market.
COVID-19 Impact Analysis:
The impact of the COVID-19 pandemic is expected to be moderate for medical device companies in the hydrocephalus shunt industry. Companies are currently facing a setback, with the lockdown causing disruption in supply chain activities across the globe. Nevertheless, this detrimental effect is expected to be offset by an increase in the demand for programmable shunts to treat hydrocephalic patients worldwide. Similarly, the advent of disruptive technologies like “Eashunt System” is set to fuel the growth of the Hydrocephalus Shunts Market post pandemic.
Conversely, advances in shunt technology to reduce shunt complications are expected to create attractive opportunities for the growth of the hydrocephalus shunt market. The global hydrocephalus shunts market has been segmented on the basis of type, age group, and region. By type, the hydrocephalus shunt market has been classified into ventriculo-peritoneal shunt, ventriculo-atrial shunt, ventriculo-pleural shunt, and lumbo-peritoneal shunt. On the basis of age group, the market is segmented into infants, children and adults. Region wise, the hydrocephalus shunt market is analyzed across North America, Europe, Asia-Pacific and LAMEA. North America is estimated to have a significant share of the hydrocephalus shunt market, followed by Europe.
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Major findings of the study:
• By type, the ventriculo-pleural shunt segment is expected to grow at the highest rate during the analysis period.
• By age group, the children segment is expected to dominate the global hydrocephalus shunt market during the forecast period.
• By region, North America was the largest market in 2019, and is expected to maintain its lead during the forecast period.
The research offers a comprehensive analysis of the major players operating in the Hydrocephalus Shunts Market which include Christophe Mythe GmbH & Co. KG, G Surgivier Ltd., HLL Lifecare Ltd., HPBO Proteus, Inc., Integra Life Sciences, Kaneka Medix Corporation, Medtronic Plc. , Netus Medical Incorporated, Spiegelberg GmbH & Co. KG & Tokibo Co., Ltd.
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