Published: Dec, 2016
Some of the key players in the global cerebrospinal fluid (CSF) management market are Medtronic plc, DePuy Synthes (a J & J Company), Sophysa S.A., Spiegelberg GmbH & Co. KG, B. Braun Melsungen AG, BeckerSmith Medical, Inc., Möller Medical GmbH, and Integra LifeSciences Holding Corporation. The global market for CFS management was valued at US$1.13 bn in 2014. Expanding at a healthy CAGR of 5.5% during the forecast period of 2015 to 2023, the revenue in the market is estimated to reach US$1.84 bn by the end of 2023.
In order to maintain their stronghold, these players actively focus on innovations and developments related to technology and application in the market for cerebrospinal fluid management in order serve the multi-dimensional needs of the consumers. For instance, Medtronic plc recently announced the clearance of StrataMR valves and shunts by the U.S. Food and Drug Administration (FDA). This is an addition to Medtronic portfolio of Strata Adjustable Valve Systems, which are used to treat patients with hydrocephalus and cerebrospinal fluid (CSF) disorders. The approval will help Medtronic to complete its portfolio of systems designed for access to full-body MRI, such as pacemakers, deep brain stimulation (DBS) systems, implantable cardioverter defibrillators (ICDs), and spinal cord stimulators.
Asia Pacific Emerging Lucrative Market
By type of product, the cerebrospinal fluid management market is segmented into CSF shunts and CSF drainage systems, which can be further sub-segmented into ventricular drainage system and lumbar drainage system. In 2014, CSF shunts were most in demand and, are expected to remain the dominant segment throughout the forecast period. Although, the segment of CSF drainage system is also projected for the strongest CAGR in the market. Geographically, the report studies the regional markets of North America, Europe, Asia Pacific, Latin America, and Rest of the World. North America contributed most of the demand for CSF management in 2014 and is likely to remain the most lucrative region during the forecast period. The report also rates Asia Pacific as a region that players could focus on, owing to factors such as increasing demand for minimally invasive surgeries, growing medical tourism in emerging nations, and rising geriatric population.
Increased Government Funding Supporting Growth
According to the United Nations (US), there were 841 million people aged over 60 in the world. The UN expects this number to exceed to 2 billion by the end of 2050. Since geriatrics generally suffer from neurological diseases such as Alzheimer’s and Parkinson’s, this exponential rise in geriatric population is the primary reason for the extending demand for CSF management. The report also observes overall rise in the incidences of neurological diseases, increased funding by government and private organizations, and the escalating demand for minimally invasive surgeries are some of the other factors that will support the growth rate in the global market for cerebrospinal fluid management. Conversely, risk of infection during surgery is expected to negatively influence the growth rate.
The author of the report concedes, “The countries with emerging economies such as China, India, and Brazil comprise profitable future markets for CSF management. These nations have vast populations and the disposable income among the urban population is on the rise, which is enhancing their purchasing power.”
The information presented in this review is based on a Transparency Market Research report, titled, “Cerebrospinal Fluid (CSF) Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2023.”
Key Segments of the Global Cerebrospinal Fluid (CSF) Management Market
Global CSF Management Market, by Product
- CSF Shunts
- CSF Drainage Systems
- Ventricular Drainage System
- Lumbar Drainage System
Global CSF Management Market, by Geography
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- Rest of APAC
- Latin America
- Rest of Latin America
- Rest of the World
- South Africa
- Rest of Rest of the World
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