Hydrocephalus Market Highlights , Growth Dynamics , Size Estimation By 2023
Hydrocephalus Market Size , Share and Trends Analysis by Type ( Congenital Hydrocephalus , Acquired Hydrocephalus , Normal-Pressure Hydrocephalus , Ex- Vacuo Hydrocephalus ), Diagnostic ( CT scan – head , MRI , Head Ultrasound ), Treatment ( Surgery – Shunt Insertion , Ventriculostomy , Medication ), End User ( Hospitals & Clinics , Diagnostic Centres , Academic Institutions and Research Organizations ) and Region - Forecast till 2023
Hydrocephalus Market Competitive Analysis :
Major industry leaders in the
hydrocephalus market are B . Braun Melsungen AG ( Germany ), Sophysa SA ( France ), Spiegelberg GmbH & Co . KG ( Germany ), Terumo Corporation ( U . S .), DePuy Synthes ( U . S .), Integra LifeSciences Corporation ( U . S .), Medtronic Plc ( Ireland ), Tokibo Co ., Ltd . ( Japan ), Natus Medical Incorporated ( U . S .), Boston Neurosciences ( U . S .), HLL Lifecare Limited ( India ), Christoph Miethke GmbH & Co . KG ( Germany ), Johnson & Johnson Services Inc . ( U . S .), and RAUMEDIC Inc . ( Germany ).
Hydrocephalus Market Overview :
The Global Hydrocephalus Industry size is estimated to balloon to USD 1,752.07 million by 2023 , asserts Market Research Future ( MRFR ). It can exhibit 4.4 % CAGR over the forecast period ( 2018-2023 ). It was previously valued at USD 1,348 million in 2017 . High incidence of traumatic brain injuries owing to accidents is the primary driver of the market . Although high procedural costs of intracranial pressure ( ICP ) monitoring devices and lack of skilled professionals remain growth deterrents .
Increasing prevalence of traumatic brain injuries ( TBI ) caused by accidents is one of the major factors driving market growth . Posttraumatic hydrocephalus is a condition caused in the aftermath of BTI which can use blockage in ventricles of the brain leading to excess levels of cerebrospinal fluid ( CSF ). Investments in development of new shunts which can expedite the draining of CSF are likely to spur market growth .
Emergence of various neurovascular diseases such as arteriovenous malformations ( AVMs ) and brain aneurysm is predicted to bolster the hydrocephalus market growth . This can be attributed to the uptick of neurological conditions witnessed in Asia Pacific . Favorable reimbursement schemes which cover treatment costs coupled with the large patient pool are other factors which can foster growth .
Hydrocephalus Market Segmentation Analysis : The hydrocephalus market is segmented by type , diagnosis , treatment , and end-user .
By type , congenital hydrocephalus held 36 % share in 2017 , followed by acquired hydrocephalus ( 31 %), normal-pressure hydrocephalus ( 19 %), and ex-vacuo hydrocephalus ( 14 %). Congenital hydrocephalus led the hydrocephalus market owing to 55 % of hydrocephalus cases turn out to be due to genetic factors . The segment can exhibit 3.65 % CAGR over the forecast period to touch a value of USD 601.93 million by 2023 . But