Cerebrospinal Fluid Management Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Cerebrospinal Fluid Management Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The cerebrospinal fluid management market is primarily driven by the growing hydrocephalus worldwide and the growing geriatric population. According to National Hydrocephalus Foundation, facts about hydrocephalus 2018, hydrocephalus is one of the most common birth defects and each year, one out of the 500 children suffers from hydrocephalus, and another 6000 children annually develop hydrocephalus during the first two years of the life. Moreover, the rate of hydrocephalus is also high in the older population. The growing burden of neurological disorders around the world is anticipated to boost the market growth. Moreover, the increasing R&D in advancements of device technologies coupled with the product launches are fueling the market growth. However, lack of awareness, the dearth of skilled professionals and recent warning letters from the FDA are anticipated to hinder the market growth.

These shunt systems remove excess cerebrospinal fluid from the brain to other parts of the body where the fluid is absorbed as part of the circulatory process. Cerebrospinal fluid shunts contain three main components i.e. an in-flow tube (catheter), a valve that regulates the flow of fluid, and an outflow catheter that carries the fluid to the abdomen or the heart where the fluid can be absorbed.

The advantages of shunts over the traditional drainage procedures coupled with the advancements in cerebrospinal shunt technologies are anticipated to boost the segment growth over the forecast period. In November 2017, Alcyone Lifesciences has received U.S. Food and Drug Administration approval for Alivio Ventricular Catheter & Flusher System (Alivio System) for the treatment of hydrocephalus.

Moreover, among the patient types, the geriatric segment anticipated having the notable market growth owing to the increasing burden of neurological disorders with an aging population.

Among the regions, North America is anticipated to grow at significant rates owing to the well-established healthcare infrastructure, growing awareness regarding the available options for treatment of hydrocephalus and the presence of key market players in the region. Hydrocephalus Association has estimated that around 1 million Americans are affected by hydrocephalus in every stage of life. Also, one out of the 770 babies in America, develops hydrocephalus. Moreover, Asia Pacific is anticipated to have the lucrative market growth owing to the growing awareness regarding the neurological disease and treatment options coupled with the growing burden of hydrocephalus in the region.

The global cerebrospinal fluid management market is moderately competitive. Market players are focusing on new product launches, product innovations and geographical expansion to strengthen its market share. For instance, Arkis BioSciences Inc. has received FDA approval for its External Ventricular Drainage (EVD) Catheter, CerebroFlo, the first neuro catheter to incorporate Endexo, a permanent polymer additive. The key market players operating in the market include Medtronic Plc, B. Braun Melsungen AG, Integra Lifesciences (Arkis BioSciences),

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