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According to the latest research by the company, the global hydrocephalus shunt market is expected to be valued at US$ 599.7 Mn, by 2028 end. The report on the hydrocephalus shunt market further projects significant growth potential with average year-on-year growth rate pegged at 2.3% through 2028.The growing incidence of hydrocephalus due to increasing number of accident cases is the major factor expected to drive the growth hydrocephalus shunt market. Various private and government organizations are focusing on spreading awareness regarding hydrocephalus, which is also expected to favor the growth of the hydrocephalus shunt market over the forecast period. Half of the patients experience complications such as shunt blockage and drainage program and need shunt revision post hydrocephalus shunt revision surgery.
According to the UK Shunt Registry, around 3,000 shunt operations are performed in the U.K. every year: 1660 pediatric (33.5% primary and 66.5% revisions) and 1400 adult (53% primary and 47% revisions). Increasing adoption of magnetically programmable valve over fixed pressure valves favors the growth of the market. Moreover, availability of MRI-compatible programmable hydrocephalus valves is also expected to propel the growth of the hydrocephalus shunt market. These programmable hydrocephalus valves are suitable for up to magnetic field interaction at 3 Tesla or less when the specific guidelines are followed. Moreover, anti-siphon devices are gaining traction to avoid siphon effect namely over drainage of cerebrospinal fluid. Moreover, strong reimbursement policies for hydrocephalus diagnosis and treatment are expected to boost the growth of the hydrocephalus shunt market.
However, stringent regulatory policies for approval of hydrocephalus is expected to considerably impact the growth of the hydrocephalus shunt market. Moreover, risks and complications associated with shunt implant is the other factor expected to hamper the growth of the hydrocephalus shunt market. Besides, the high cost of surgery and lack of neurologists are the major challenges in the growth of the hydrocephalus shunt market.
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The company has segmented the global hydrocephalus shunt market based on product type, procedure type, age group, and regions. Based on product type, the hydrocephalus shunt market is segmented into hydrocephalus valves and hydrocephalus catheters. The hydrocephalus valves segment is expected to represent the high revenue share in the hydrocephalus shunt market due to increasing adoption of adjustable pressure valves. By procedure type, the hydrocephalus shunt market is segmented into ventriculoperitoneal, ventriculoatrial, lumboperitoneal and ventriculopleural. The ventriculoperitoneal segment is expected to contribute high value share in the global hydrocephalus shunt market. Other procedures are performed when the complication is associated with ventriculoperitoneal procedure or risk of infection peritoneal region. Based on the age group, the hydrocephalus shunt market is segmented into pediatric and adult segment. In terms of revenue, the pediatric segment is projected to hold significant revenue share in the global hydrocephalus shunt market over the forecast period as a large number of revision surgeries are performed among pediatric patients.
On the basis of region, the global hydrocephalus shunt market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding China & Japan, China, Japan, and the Middle East & Africa. North America is expected to contribute large revenue share in the global hydrocephalus shunt market. The demand for hydrocephalus shunt has increased in North America, as the prevalence of hydrocephalus is high in the U.S. as well as due to increasing healthcare expenditure. The Asia Pacific excluding China and Japan is expected to witness the high growth due to increasing government funding and support for hydrocephalus treatment. Western Europe is expected to contribute second large share in the global hydrocephalus shunt market due to favorable reimbursement policies and adoption of advance surgical methods.
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The report tracks some of the key companies operating in the global hydrocephalus shunt market. Representative players included in the report are Medtronic Plc., B. Braun Melsungen AG, Integra LifeSciences Corporation, Natus Medical Incorporated, Tokibo Co., Ltd. (Sophysa SA), Christoph Miethke GmbH & Co. KG and others. Manufacturers are focusing on the development of new shunt valves to diminish complications and risk associated with the shunt, which will create enormous growth opportunities for them over the forecast period.
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