The Hydrocephalus Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hydrocephalus Global Market Report 2024, The hydrocephalus market size has grown strongly in recent years. It will grow from $3.46 billion in 2023 to $3.63 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to neurological disorders awareness, pediatric healthcare advances, increased incidence of traumatic brain injuries, improved access to healthcare, research and development initiatives.
The hydrocephalus market size is expected to see strong growth in the next few years. It will grow to $4.44 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to neuroendoscopy advancements, growing geriatric population, regulatory support for medical devices, rise in traumatic brain injuries, global health initiatives. Major trends in the forecast period include increased focus on pediatric neurology, technological innovations in shunt systems, advancements in medical technology, advancements in surgical techniques, innovation in shunt technologies.
The increased prevalence of hydrocephalus is significantly contributing to the growth of the hydrocephalus market. Hydrocephalus is a medical condition in which the cerebrospinal fluid (CSF) starts accumulating in the cavities of brain structures, resulting in a variety of cognitive abnormalities. The increasing incidences of hydrocephalus are increasing the demand for hydrocephalus treatment devices to treat the patients. For instance, according to a 2021 report published in the National Center for Biotechnology Information, a part of the United States National Library of Medicine, a branch of the National Institutes of Health, the global prevalence of hydrocephalus is reported to be around 85 per 100,000 people, with a notable disparity between age groups 88 per 100,000 in children and 11 per 100,000 in adults. The prevalence is substantially higher in the senior population, around 175 per 100,000, and more than 400 per 100,000 for those over 80 years old. Therefore, increased prevalence of hydrocephalus is expected to propel the growth of the hydrocephalus market.
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The hydrocephalus market covered in this report is segmented –
1) By Type: Congenital Hydrocephalus, Acquired Hydrocephalus, Normal-Pressure Hydrocephalus, Ex-Vacuo Hydrocephalus
2) By Age Group: Pediatric, Adult
3) By Diagnostics: MRI, CT Scan, Head ultrasound, Other Diagnostics
4) By End User: Hospitals, Diagnostic Centers, Academic Institutions, Research Organizations
Major companies operating in the hydrocephalus market are developing innovative products, such as non-invasive medical devices, to enhance product offerings and gain a competitive advantage. A non-invasive medical device is a form of medical equipment or technology that does not require skin penetration, bodily orifices, or the removal of any human tissue to be used. For instance, in September 2022, Anuncia Medical, Inc., a US-based medical equipment manufacturing company, announced that the US Food and Drug Administration (FDA) had approved the ReFlow System Mini for the medical management of hydrocephalus patients and other cerebrospinal fluid (CSF) abnormalities that necessitate shunting. The authorized ReFlow System Mini is recommended for noninvasive ventricular catheter flushing to restore, augment, or sustain CSF flow in a shunt. The ReFlow System Mini may be used as prescribed for noninvasive flushing by an experienced healthcare practitioner in-clinic or by certified caregivers or adult patients at home under the guidance, supervision, and education of the treating physician.
The hydrocephalus market report table of contents includes:
- Executive Summary
- Hydrocephalus Market Characteristics
- Hydrocephalus Market Trends And Strategies
- Hydrocephalus Market – Macro Economic Scenario
- Global Hydrocephalus Market Size and Growth
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- Global Hydrocephalus Market Competitive Benchmarking
- Global Hydrocephalus Market Competitive Dashboard
- Key Mergers And Acquisitions In Hydrocephalus Market
- Hydrocephalus Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Johnson & Johnson Corporation
- Thermo Fisher Scientific
- Medtronic PLC
- MIZUHO Co. Ltd.
- Braun Melsungen AG
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