Europe 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)

Europe 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 Europe cerebrospinal fluid management market is expected to reach US$ 988.78 million by 2028 from US$ 694.04 million in 2021; it is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The growth of the market is attributed to rising technological developments for CSF shunts and growing developments for CSF management products. However, the risk associated with CSF shunts hinders the market growth.

The never-ending technological developments are the unstoppable trend for the growth of CSF management market. The risk of diagnosing and treatment failure, limited control options, and complications have offered various opportunities for the product developers. Rising advancements in technology have introduced the concept of “smart shunt” that could offer hi-tech control, diagnosis, and communication-based shunts or implants. It is anticipated that designed smart shunts can control CSF drainage based on feedback from one or more measured conditions. Additionally, researchers expect that smart shunts have the potential to offer sophisticated control over mechanical shunts—data with respect to shunt malfunction. It is further expected to reduce the risk of shunt obstructions and eventually reduce the risk of failures.

Late-stage development companies operating in the market are demanding experimental results to seek approvals and commercialize the smart shunts. The primary focus is on shunts designed to assess ICP noninvasively in the physician’s office through an implanted pressure sensor and noninvasive assessment of CSF flow in the clinical settings. These on-demand sensing systems will be a significantly advanced supplement to existing mechanical valves.

The growing demand for better treatments has resulted in various product developments, resulting in the Europe cerebrospinal fluid management market growth. For instance, in July 2018, FDA granted breakthrough device designation to F. Hoffmann-La Roche Ltd for its Elecsys ß-Amyloid (1-42) CSF and Elecsys Phospho-Tau (181P) CSF. The products are used as in-vitro diagnostic immunoassays to measure ß-Amyloid (1-42) and Phospho-Tau concentrations in CSF among adults with cognitive impairment. They are evaluated for Alzheimer’s disease (AD) and other causes of dementia.

The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most-affected European countries. The COVID-19 emergency has undoubtedly aided in encouraging the general population to try out and expand their usage of digital services, particularly to avoid visiting a health center in person. However, there are still a number of constraints that hinder these services from becoming widely adopted.

Inconsistent and interrupted supply chain activities and unavailability of human resources negatively impacted the cerebrospinal fluid management market growth. The sudden onset of pandemic led to shutdown of neurological wards and clinics across numerous countries. At the same time, hospitals ran out of resources owing to a huge number of COVID-19 patients. Consequently, according to one study, many diagnostic and treatment procedures had been cancelled or postponed around the world.

The Europe 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 Europe 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 Europe cerebrospinal fluid management market are National Health Service (NHS), German Cancer Society (Deutsche Krebsgesellschaft), and World Health Organization (WHO).

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe cerebrospinal fluid management market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the Europe cerebrospinal fluid management market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it.
Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.