Cerebrospinal Fluid Management Market: Current Analysis and Forecast (2022-2028)
Emphasis on Product (CSF Shunts, CSF Drainage Systems); End User (Pediatric, Adult, Geriatric); and Region/Country
Global Cerebrospinal Fluid Management Market is expected to grow at a significant rate of around 4.6% during the forecast period. Cerebrospinal fluid is made from the tissue that lines the ventricles (cavities) of the brain. Flows in and around the brain and spinal cord to protect against damage and provide nourishment. The rising prevalence of neurological diseases worldwide, increases incidences of cerebrospinal fluid disorders such as hydrocephalus and ventriculomegaly. As per NCBI, in 2022, the overall global prevalence of hydrocephalus is approximately 85 per 100,000 individuals with a significant difference between different age groups: 88 per 100,000 for the pediatric population and 11 per 100,000 in adults. The growing burden of neurological disorders around the world is anticipated to boost cerebrospinal fluid management market growth. Moreover, the increasing R&D in advancements of device technologies coupled with product launches are fueling the market growth.
Elekta, Medtronic, B. Braun SE, Sophysa, BeckerSmith Medical, Neuromedex GmbH, Medical Device Business Services, Inc., Spiegelberg GmbH & Co. KG, Integra LifeSciences, Möller Medical GmbH are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, CSF shunts category to hold significant market share during the forecast period”
Based on type, the market is segmented into CSF shunts and CSF drainage systems. CSF shunts segment held a significant market share in 2020. The rise in cases of cerebrospinal fluid disorders such as hydrocephalus and ventricular hypertrophy, increase in shunt surgery, integration of advanced sensors into CSF shunts, and growing need for minimally invasive surgery drive the segment. Hydrocephalus occurs in two out of every 1,000 births in the United States. It is not known how many people develop it after birth. Approximately 125,000 persons are living with cerebrospinal fluid (CSF) shunts, and 33,000 shunts are placed annually in the United States as per UCLA Health in 2021.
“Amongst end user, the geriatric to hold a significant share in the market in 2020”
On the basis of end user, the market is categorized into a pediatric, adult, and geriatric. Among these, The geriatric segment is set to account for a considerable share of the CSF management market. This is mainly due to the increasing geriatric population as they are more prone to targeted diseases such as Alzheimer’s and Parkinson’s. As per Alzheimer’s Association, an estimated, 6.5 million Americans aged 65 and older are living with Alzheimer’s in 2022.
“North America expected to dominate the market”
In 2020, North America is expected to grow at a significant growth rate owing to well-established medical infrastructure, increasing awareness of available hydrocephalus treatment options, and the presence of key market players in the region. Moreover, North America dominates the market due to the high prevalence of nervous disorders in the geriatric population in the region. Alzheimer’s disease is the most common cause of dementia in the elderly. According to NCBI, In 2021, about 6.2 million U.S. adults aged 65 or older lived with dementia. Also, an increase in awareness regarding health problems and personalized services at clinics are supporting the market’s growth.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global cerebrospinal fluid management market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Contents
Research Methodology for the Cerebrospinal Fluid Management Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global cerebrospinal fluid management market were the three major steps undertaken to create and analyze the adoption of cerebrospinal fluid management in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global cerebrospinal fluid management market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the cerebrospinal fluid management market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the cerebrospinal fluid management market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the cerebrospinal fluid management market. Further, we conducted factor analysis using dependent and independent variables such as various products and end user of cerebrospinal fluid management. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the cerebrospinal fluid management market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global cerebrospinal fluid management market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the cerebrospinal fluid management market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global cerebrospinal fluid management market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global cerebrospinal fluid management market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product and end user in the global cerebrospinal fluid management market.
The main objective of the Global Cerebrospinal Fluid Management Market Study
The current & future market trends of the global cerebrospinal fluid management market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the cerebrospinal fluid management market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product and end user.
- Define and analysis of the regulatory framework for the cerebrospinal fluid management
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the cerebrospinal fluid management market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the cerebrospinal fluid management market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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