Increasing Number of Elderly Population is Anticipated to Boost the Global Hydrocephalus Market in the Forecast Period

Neurological disorders is affecting around a billion people globally and appear to be on the rise. The occurrence of congenital hydrocephalus in highly developed countries is projected to be around 50-100 per 100,000 live births, whereas neonatal acquired hydrocephalus is expected at 30-50 per 100,000 live births. Various government bodies and healthcare organizations are extending their support to the medical research centers. The increasing support by healthcare organizations and government bodies, considerably influencing the demand for hydrocephalus products.

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Data Bridge Market Research analyses that the Global Hydrocephalus Market is expected to reach USD 2,107.34 million by 2028 from USD 1,402.21 million in 2020, growing with the CAGR of 5.4% in the forecast period of 2021 to 2028. The increasing demand for the hydrocephalus across different sector will provide potential opportunities for the market growth in the forecast period.

Increasing number of neurological disorders is anticipated to drive the market's growth rate

There are several neurological conditions which affect the part of brains. The most common neurological disorders are epilepsy, headache disorders, dementia, multiple sclerosis, and neuro infections, Parkinson’s disease, neurological disorders related with malnutrition, pain associated with neurological disorders, stroke and traumatic brain injuries. Several cases of neurological is rising worldwide in both pediatrics and geriatrics population.

For instance,

The rates of cases per 100,000 people increased in diseases such as Parkinson's (by 15.7%), Alzheimer's (2.4%), motor neuron disease (3.1%), and brain and nervous system cancers (8.9%).

Report Scope and Market Segmentation

Segment Analysis:

Global hydrocephalus market is categorized into five notable segments which are based on type, diagnostic & treatment, product type, age group, end users.

• On the basis of type, the global hydrocephalus market is segmented into congenital hydrocephalus, acquired hydrocephalus, normal-pressure hydrocephalus and ex-vacuo hydrocephalus.

The congenital hydrocephalus segment of type is anticipated to dominate the hydrocephalus market

The congenital hydrocephalus segment is expected to dominate the market with a 60.96% market share because of technological advancements.

• On the basis of diagnostic & treatment, the global hydrocephalus market is segmented into diagnosis and treatment.

The diagnosis segment of diagnostic & treatment type is anticipated to dominate the hydrocephalus market

The diagnosis segment is expected to dominate the global hydrocephalus market with 64.57% market shares because of the increasing pace of early diagnosis of diseases

• On the basis of product type, the global hydrocephalus market is segmented into hydrocephalus valves and hydrocephalus catheters. The hydrocephalus valves segment is expected to dominate the market with a 68.62% market share because of the increased adaptation of advanced valves.
• On the basis of age group, the global hydrocephalus market is segmented into pediatric and adult. The pediatric segment is expected to dominate the global hydrocephalus market with 78.82% market share due to the increasing number of new-borns worldwide
• On the basis of end users, the global hydrocephalus market is segmented into hospitals, clinics, diagnostic centers and academic institutions and research organizations. The hospitals segment is expected to dominate the market with a 58.59% market share because of the growing number of hospitals in developed and developing countries.

Major Players

Data Bridge Market Research recognizes the following companies as the major hydrocephalus market players in hydrocephalus market are Aesculap, Inc. (U.S.), Integra LifeSciences (U.S.), G. SURGIWEAR LTD (India), Möller Medical GmbH (Germany), Anuncia Inc. (U.S.), CHRISTOPH MIETHKE GMBH & CO. KG (Germany), KARL STORZ SE & Co. KG (Germany), Próteses, inc. (Portugal), Medtronic (Ireland), Natus Medical Incorporated (U.S.), Desu Medical (Turkey), Bicakcilar (Istanbul), Spiegelberg GmbH & Co.KG (Germany), Sophysa (France) and KANEKA MEDIX CORP (Japan)

Market Development

• In 2021, Medtronic have announced the U.S. Food and Drug Administration approval for the first U.S. implants of the SenSight Directional Lead System that is used for Deep Brain Stimulation (DBS) therapy. It will improve their product sales in neurological field
• In 2021, Anuncia Inc., received U.S. FDA Breakthrough Device Designation for its ReFlow System Mini to treat CSF disorders. This approval has created a persistent revenue-generating flow
• In 2021, Penn State researchers updated on working on a new device called HydroFix which is an enhanced surgical shunt system that is meant to decrease the many dangers involved with today's shunts. This device will be used to treat normal pressure hydrocephalus (NPH) which is a condition affects over 750,000 people in the U.S., mostly those over the age of 65.

 Regional Analysis

Geographically, the countries covered in the hydrocephalus market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

As per Data Bridge Market Research analysis:

North America is the dominant region in hydrocephalus market during the forecast period 2021 to 2028

North America dominates the hydrocephalus market because of an increase in the elderly population vulnerable to such sort of ailments and advanced healthcare infrastructure. Factors such as increasing population, rising awareness about available treatment, rise in incidence of neurological disorder, development in technology for hydrocephalus in the region and growing government initiatives associated with healthcare infrastructure may all lead to considerable market expansion in this region.  

Asia-Pacific is estimated to be the fastest-growing region in hydrocephalus market the forecast period 2021 to 2028

Asia-Pacific is expected to grow during the forecast period of 2021 to 2028 because of the growth and expansion of healthcare industry, and rising R&D collaborations with established economies. Increase in the geriatric population, which is more vulnerable to neurological disorders, increased awareness of minimally invasive surgeries, increase in cases of stroke and CSF-related disorders, and technological advancements are leading the market growth.

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