Asia Pacific Cerebrospinal Fluid Management Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (CSF Shunts and CSF Drainage Systems) and End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Neurological Centers)

Asia Pacific Cerebrospinal Fluid Management Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (CSF Shunts and CSF Drainage Systems) and End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Neurological Centers)

The Asia Pacific cerebrospinal fluid management market is expected to reach US$ 370.37 million by 2028 from US$ 227.46 million in 2021; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The growth of the market is attributed to the expanding cerebrospinal fluid management market in developing region and growing developments for CSF management products. However, the risk associated with CSF shunts hinders the market growth.

Countries having high birth rates and neonatal infections offer a higher risk of pediatric hydrocephalus. Pediatric hydrocephalus is a common neurosurgical condition that contributes to the global burden of surgically treatable diseases. Also, the significantly rising birth rates across the globe increase the risk of neurological conditions. According to the article, “Global Hydrocephalus Epidemiology and Incidence: Systematic Review and Meta-analysis” published in April 2018, it is estimated that annually ~400,000 new cases of pediatric hydrocephalus will be registered globally. Additionally, a tremendous burden of the disease will be marked in Southeast Asia.

Moreover, several medical organizations have initiated hydrocephalus treatment and neurosurgical training programs in Asia Pacific. Such efforts in the regions are expected to offer safe, sustainable, and cost-effective treatments and are also expected to offer developmental opportunities to companies for product development. Furthermore, the increasing healthcare expenditures in the developing regions are expected to offer numerous opportunities in the advanced CSF management systems.

The growing demand for better treatments has resulted in various product developments, resulting in the Asia Pacific cerebrospinal fluid management market growth. For instance, in March 2021, Anuncia announced that FDA has granted breakthrough device designation for its product ReFlow system for CSF management. The device is designed to treat CSF disorders requiring shunting that include hydrocephalus. ReFlow system further allows usage for the device at-home and in-clinic for prophylactic flushing that is performed in a noninvasive manner to prevent CSF blockages potentially.

Economies, such as India, China, Japan, Australia, and South Korea, have been adversely affected by the COVID-19 pandemic. The interruptions in the supply chain and the massive demand for efficient treatments for COVID-19 have put the health research industry in Asia-Pacific in a crucial position. Owing to the pandemic, many neurosurgeons were assigned to COVID-19 wards, which worsened disparities in access for neurosurgical treatments to treat hydrocephalic patients. Therefore, the demand for cerebrospinal fluid management was declined. In addition, the socio-economy was badly hit, with negative inflation, GDP, and unemployment rising in the region. The pandemic has affected three main aspects of the global economy—manufacturing, supply chain, and business and financial markets. Medical device manufacturers and suppliers are shifting their focus on developing and supplying essentials and medical devices for COVID-19 and respiratory diseases. The pandemic is affecting the operations of the various key players operating in the region.

The Asia Pacific cerebrospinal fluid management market, by product, is segmented into CSF shunts and CSF drainage systems. In 2021, the CSF shunts segment held a larger share of the market. Also, the same segment is estimated to register a higher CAGR during the forecast period due to the growing number of product launches, increasing demand for advanced CSF shunts, and rising incidences of hydrocephalus.

The Asia Pacific cerebrospinal fluid management market, by end user, is segmented into hospitals, clinics, ambulatory surgical centers, and neurological centers. In 2021, the hospitals segment held the largest share of the market. However, the market for the clinics segment is expected to grow at the fastest rate in the coming years.

A few of the primary and secondary sources referred to while preparing the report on the Asia Pacific cerebrospinal fluid management market are National Institutes of Health (NIH) and Indian Cancer Society.

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