Cerebrospinal Fluid Management Market to Reach a Value of US$1,840.5 Million by 2023, Says TMR
ALBANY, New York, September 18, 2018
ALBANY, New York, September 18, 2018 /PRNewswire/ --
Cerebrospinal fluid management market is likely to demonstrate a decent growth with a CAGR of 5.5% within the forecast period from 2015 to 2023. In 2014, the cerebrospinal fluid management market was worth US$1,135.7 mn, and it is anticipated to reach around US$1,840.5 mn by the end of 2023. On the basis of product type, the CSF shunt led the race in 2014 and is expected to maintain its position in the foreseeable future too. Geographically, in year 2014, North America region dominated the market, owing to rise in number of old age people and increase in technological advancements.
Hydrocephalus is characterized as an irregularity between the absorption and production of cerebrospinal fluid. This rise in CSF might be because of various reasons, for example, over-production of CSF, defective absorption, obstruction of blood circulation, and brain damage. The extra CSF is put away in subarachnoid spaces of the within the ventricles and brain. This condition is as a result named as hydrodynamic CSF ailment.
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Economic growth and improved healthcare framework in developing economies, for example, India, China, and Brazil have accelerated rise in disposable income among the people, helping their buying capacity. Also, rise in healthcare expenses by governments have provided the scope in the cerebrospinal fluid management market in developing nations.
The general ascent in rate of neurological maladies among the all-inclusive community, expanding geriatric populace determined to have neurological illness, for example, Alzheimer's and Parkinson's ailments, high subsidizing by the legislature and private associations, and developing interest for negligibly intrusive medical procedures are probably going to drive the cerebrospinal fluid management market. Nonetheless, danger of contamination amid the season of medical procedure is required to restrain the use of CSF shunts.
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Recently, a 2.5-mile fun run is being planned to be conducted in the South Shore on September 9, Sunday, to bring issues to light of Hydrocephalus, a condition most have never known about yet. It is aimed to influence more than one million individuals in the US.
Regionally, in 2014, North America represented the major share of the cerebrospinal fluid management market. The mentioned region is foreseen to proceed with its predominance of the market within the forecast period because of rise in elderly population and surging industrial developments. Nonetheless, the cerebrospinal fluid management market in the region of Asia-Pacific is likely to experience the fastest development rate from 2015 to 2023 because of growing demand for minimally intrusive medical procedures, and developing healthcare tourism in rising countries.
Major players in the CSF Management Market consist of DePuy Synthes (a J & J Company), Medtronic plc, B. Braun Melsungen AG, Sophysa S.A., Spiegelberg GmbH & Co. KG, Integra LifeSciences Holding Corporation, BeckerSmith Medical, Inc., and Moller Medical GmbH.
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The global Cerebrospinal Fluid Management Market has been segmented as follows:
Global Cerebrospinal Fluid Management Market, by Product
- CSF Shunts
- CSF Drainage Systems
- Ventricular Drainage System
- Lumbar Drainage System
Global Cerebrospinal Fluid Management Market, by Geography
- Rest of Europe
- Rest of APAC
- Rest of Latin America
- Rest of the World
- South Africa
- Rest of Rest of the World
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