NEW YORK, Feb. 27, 2017 /PRNewswire/ -- The global cerebral spinal fluid (CSF) management market is anticipated to reach USD 1.4 billion by 2022, according to a new report by Grand View Research, Inc. Constant evaluation of various techniques by neurosurgeons for improvement of hydrocephalus management is expected to drive growth in this market. Moreover, shunt manufacturers are engaged in the investment for development of novel and improved shunts in order to tackle the pitfalls associated with the existing designs.
Significant increase in geriatric population across the globe as well as raise in incidence of chronic CNS associated disorders such as stroke can be attributed to projected growth. Furthermore, grants for research in neuromodulation therapies in order to develop different products for prognosis of various nervous system associated disorders are expected to boost development.
Further Key Findings from the Study Suggest:
CSF management devices are expected to witness extensive competition owing to presence of several market players operating in this segment. Rise in number of CSF associated disorders such as trauma and stroke are anticipated to boost demand for these products in the coming years.
CSF shunts captured the largest market share in terms of revenue generation in 2014.
These devices are most commonly used for supplementing and replacing lost drainage capacity in case of CSF leak management.
CSF drainage is anticipated to witness lucrative growth over the forecast period.
This growth can be attributed to ongoing development for enhancing overall safety of guidance-based systems and anti-biotic impregnated catheters incorporation.
In 2014, North America accounted for the largest share with respect to revenue generation.
Factors contributive for the share include continuous increase in the number of Americans affected from Hydrocephalus coupled with ongoing research in neuroscience.
Asia Pacific is expected to propel with fastest CAGR owing to constantly improving healthcare system in the region.
Moreover, economic progress of Asia Pacific countries such as China has led to significant transformation of neurology and neurologic practices in the country. This is one of the key drivers to propel progress in this region in the coming years.
Some of the key players operating in the market include Johnson & Johnson Services, Inc; B.Braun Melsungen AG; Magstim; Elekta AB; Medtronic, Inc.; Integra LifeSciences Corporation;Phoenix Biomedical Corp.; Sophysa; Spiegelberg GmbH & Co. KG; and Beckersmith Medical, Inc.
These players are engaged in development of novel platforms for CSF management.
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