Hydrocephalus Shunts Market - Forecast(2024 - 2030)

Key Takeaways

• Geographically, the North America Hydrocephalus Shunts Market accounted for the highest revenue share in 2021. The growth is owing to full-fledged healthcare infrastructure and high health attentiveness among people. Furthermore, Asia-Pacific is poised to dominate the market over the period 2022-2027.
• Intensifying research and developmental activities and augmenting brain injuries and neurological disorders are said to be preeminent drivers driving the growth of the Hydrocephalus Shunts Market. Several side-effects accompanied by shunts and deferred surgical procedures due to the re-imposition lockdowns are said to reduce the market growth.
• Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Hydrocephalus Shunts Market report.

Hydrocephalus Shunts Market Segment Analysis - By Age Group

The Hydrocephalus Shunts Market based on the age group basis can be further segmented into pediatrics (infants, teens), adults, and geriatrics (> 65 years). The pediatrics segment held the largest share in 2021. According to a report, 1 in every 1000 infants in the US develops this condition. Congenital hydrocephalus is more common in pediatrics and is attributed to a high risk of premature complications such as arachnoid cysts, aqueductal stenosis, spina bifida, and other brain deformities like dandy-walker syndrome. As a result, the overall demand for hydrocephalus shunts has been heightened. Nevertheless, the adult segment is estimated to be the fastest-growing with a CAGR of 9.1% over the forecast period 2022-2027. This growth is owing to augmenting incidences of acquired hydrocephalus. Infection (meningitis) and injuries associated with road tragedies, sports, and other day-to-day events have their fair share in such neurological disorders.

Hydrocephalus Shunts Market Segment Analysis - By End-User

The Hydrocephalus Shunts Market based on end-user can be further segmented into hospitals, ASCs, and other medical facilities. The hospital segment held the largest share in 2021. The growth is owing to the across-the-board presence of hospitals. Also, the growing existence of top-notch private hospitals is contributing to the growth of the said segment as they deliver quality services to their counterparts that are government-owned hospitals. The trend of useless queues ceases to exist in private hospitals. Also, patients do not have to wait for meager examinations and reports. On another hand, the presence of top-of-the-line professionals, thoroughly equipped nature, and one-stop-solution to maladies are the prominent factors that gravitate patients toward hospitals. Furthermore, the ambulatory surgical centers segment is estimated to be the fastest-growing segment with a CAGR of 9.8% over the forecast period 2022-2027. This growth is owing to the convenience of outpatient surgeries. Unlike hospitals, ASCs procedures are prompt which allows patients to go home the same day. Therefore, swift medical procedures and reduced hospital stays which eventually saves money have drawn the attention of patients worldwide. Also, soaring awareness regarding the existence of such facilities has a reasonable influence on the budding popularity of ASCs.

Hydrocephalus Shunts Market Segment Analysis - By Geography

The Hydrocephalus Shunts Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 41% of the overall market in 2021. The growth in this segment is owing to the factors such as stimulating the prevalence of neurological disorders like hydrocephalus. Plumaged healthcare infrastructure owing to immeasurable spending by the government and adequate alertness of people regarding such complications are contributing to the growth of the hydrocephalus shunts market in the aforementioned segment. In addition to that, the presence of enough medical experts attributing to sound salaries and better living conditions is a preeminent driver. However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to the ferocious size of the population. Also, inadequate infrastructure in various developing countries has been a major factor behind millions of road tragedies. Consequently, the frequency of neurological complications prevalence has heightened up a notch in recent years. Besides, ameliorating healthcare infrastructure, extensive push on research activities, transforming living standards of people are giving grounds for the growth of the said market in the abovementioned segment.

Hydrocephalus Shunts Market Drivers

Spiraling neurological complications is Anticipated to Boost Market Demand

Ascending road tragedies in both developing and developed countries has emerged as a prominent factor instigating brain injuries and other neurological disorders. According to a Forbes report, with a 10.5% hike as compared to 2020, more than 8000 people fall victim to crashes in starting months of 2021. Similarly, the situation is much worse in low-income countries. For instance, India in 2020 noted more than 300,000 deaths and more than 100,000 injuries due to road crashes. Severe injuries inflicted by such tragedies are a major factor propelling the prevalence of brain problems like hydrocephalus.

The technological breakthroughs and broadening research and developmental activities are Expected to Boost Market Demand

Researchers are working round the clock to find up-to-the-minute tools and techniques to efficiently deal with neurological disorders. According to Pan American Health Organisation, in 2019, regionwide Neurological conditions account for 533,172 deaths, 213,129 (40%) in men, and 320,043 (60%) in women. 32.9 deaths per 100,000 population (age-standardized), 33.1 deaths per 100,000 population in men and 32.2 deaths per 100,000 population in women. Age-standardized death rates vary across countries from a high in the United States of America (47.4 deaths per 100,000 population) to a low in Venezuela (6.6 deaths per 100,000 population). Further, the discovery of programmable valves has played a crucial role in overcoming the complication associated with fixed pressure valves. Fixed pressure valves are prone to malfunction, moreover, they do not extend the liberty to change pressure once installed. In programmable valves on another hand, it is possible to alter the opening pressure. Also, heightening research spending is playing a significant role in driving the growth of the aforementioned market.

Hydrocephalus Shunts Market Challenges

Shunt malfunction, hampered research activities due to the pandemic, and postponed surgical procedures are Anticipated to Hamper Market Growth

There are plenty of complications that shunt malfunction can set into motion such as nausea, insomnia, soreness, neck arduousness, and vision impairment (double or weak vision) which may turn many people aversive toward such treatments and strangle the growth in said market. On another hand, postponed surgical treatments and halted research and developmental activities due to the reimposition of pandemic restrictions are the concerning factors that may challenge the steady growth of the hydrocephalus shunts market. A study conducted by CovidSurg Collaborative estimated that 28,404,603 operations would be canceled or postponed during the peak 12 weeks of disruption due to COVID-19. 

Hydrocephalus Shunts Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Hydrocephalus shunts market top 10 companies include-

1. Medtronic
2. Johnson & Johnson
3. Integra LifeSciences Corporation
4. Sophysa
5. B. Braun MelsungenNatus AG
6. Tokibo Co
7. Christoph Miethke GmbH
8. HLL Lifecare
9. Spiegelberg GmbH
10. G. Surgiwear Ltd

Recent Developments

• On January 16, 2022, Dublin, Ireland-based medical device company “Medtronic” announced that it has successfully acquired Massachusetts, United States-based medical technology company “Affera.” Medtronic has made a payment of $925 million in order to bring the respective acquisition to a close. The acquisition has reinforced Medtronic’s cardiac therapies portfolio.
• On May 10, 2021, Medtronic, an Ireland-based well-recognized medical device company successfully launched a pediatric airway monitor with the name of “SonarMed” in the US market. The monitor aims at informing clinicians about airway blockades during the intubation of newborns. The device is believed to transform overall pediatric care. The launch comes after 1 year of SonarMed’s acquisition by Medtronic.
• On January 20, 2021, Massachusetts, United States-based company “Integra LifeSciences Corporation”, which is recognized for its neurosurgical solutions announced the successful acquisition of Maryland, United States-based biotechnology firm “ACell.” Integra has paid nearly $400 million to accomplish the acquisition process. Moreover, the transaction strengthened Integra’s wound managing related solutions.

Relevant Links:

Neurovascular Devices/Interventional Neurology – Forecast (2022 - 2027)

Report Code: HCR 0571

Brain Monitoring Market – Forecast (2022 - 2027)

Report Code: HCR 0089

Brain Tumor Treatment Market – Forecast (2022 - 2027)

Report Code: HCR 0257 

For more Lifesciences and Healthcare Market reports, please click here