Cerebrospinal Fluid Management Market Size

Cerebrospinal Fluid Management Market Analysis

The cerebrospinal fluid management market is expected to register a CAGR of 4.4% over the forecast period.

• COVID-19 had a profound impact on the cerebrospinal fluid management market owing to the cancellations in elective procedures, including treatment and diagnosis of neurological disorders worldwide, impacting the studied market. For instance, according to a World Health Organization (WHO) survey that 155 countries completed over three weeks in May 2020, more than half of the countries surveyed had services for noncommunicable diseases and emergencies, such as various neurological disorders, partially or entirely disrupted. However, the market has been recovering since restrictions were lifted, and government and healthcare organizations put efforts to clear the backlog of treatments caused by the pandemic.
• In addition, the increasing burden of hydrocephalus and other neurological disorders and growing adoption of minimally invasive solutions, and the rising geriatric population are actively affecting the growth of the studied market.
• According to an article published in StatPearls in July 2022, the overall global prevalence of hydrocephalus is roughly 85 per 100,000 individuals, with a significant difference between different age groups. It also stated that the global prevalence is 88 per 100,000 individuals for the pediatric population and 11 per 100,000 individuals for adults.
• According to the same source, due to the high occurrence of normal pressure hydrocephalus (NPH) later in life, the prevalence of hydrocephalus in the elderly population is substantially greater, around 175 per 100,000 people, and more than 400 per 100,000 people for those over 80 years old. The same source reported that Africa and South America have higher hydrocephalus prevalence. Thus, the high prevalence of hydrocephalus worldwide is estimated to propel the market growth during the forecast period.
• Also, as per the article published by the national library of medicine in September 2021, the pooled incidence of congenital hydrocephalus was highest in Africa and Latin America (145 and 316 per 100,000 births, respectively) and lowest in the United States/Canada (68 per 100,000 births). Thus, the high burden of hydrocephalus worldwide is driving the market growth.
• Product launches by key players worldwide are projected to fuel market growth. For instance, in December 2021, Boston-based CereVasc launched the eShunt as the first minimally invasive cerebrospinal fluid shunt. It aims to replace the need for invasive surgery and prolonged hospitalization that come with the current surgical treatment of hydrocephalus. The product launches are estimated to propel the market growth.
• However, a lack of awareness and the dearth of skilled professionals are anticipated to hinder market growth.