Hydrocephalus market overview and analysis by type, diagnostic, treatment, end user and region - forecast till 2030A chronic buildup of cerebrospinal fluid in the deep brain ventricles is known as hydrocephalus and is a neurological condition. The increased ventricles caused by the excess fluid buildup put pressure on the brain. Some of the symptoms include headache, impaired vision, difficulty concentrating, incontinence, memory loss, and lack of coordination. The mainstays of the therapy include diuretics, ventriculoperitoneal shunts, and ventriculostomies.
According to the Hydrocephalus Association, one child out of every 1,000 is born with hydrocephalus. This issue is therefore more common than brain tumours or other conditions that damage the brain.
Major market growth drivers are the increased prevalence of hydrocephalus and the rising desire for better treatment options. Growing paediatric populations and rising healthcare costs also contribute to the market's expansion.
On the other hand, high cost of therapeutic surgery and lack of awareness about brain diseases are main restraints in hydrocephalus market growth.
The global Hydrocephalus market is expected to grow at a CAGR of 4.2% during the forecast period 2022-2030.
Global Hydrocephalus Market - Competitive Landscape
The global hydrocephalus market size is observed to be growing due to rising prevalence of hydrocephalus in pediatric population and adults. North America dominates the market owing to well-developed healthcare sector and presence of key players like Codman Shurtleff Inc., Integra Lifescience Holding Corporation, and Medtronic fuels the market growth in this region. The key players in the global hydrocephalus market have strategy of maintaining their position in the market through mergers and acquisitions, strategic tie-ups, new product launches and regional expansion.
Regional Analysis
The American region is the largest market for hydrocephalus due to the presence of well-developed healthcare sector and rising prevalence of hydrocephalus. The Americas are divided into North America and South America. Globally, North America dominates the market owing to the presence of developed economies like Canada and United States in this region. Moreover, rising healthcare expenditure, growing pediatric population and increasing awareness of the disease fuels the market growth in this region.
Europe is the second largest market for hydrocephalus due to growing patient population, increasing research and development and increasing in pediatric population. On regional basis, Europe is divided into Eastern Europe and Western Europe. Eastern Europe is rapidly growing region followed by Western Europe.
Asia Pacific is projected to be the fastest growing region owing to the presence of developing economies like China, India, Australia and increasing expenditure in healthcare.
The Middle East and Africa is the least growing region in hydrocephalus market. The Middle East region makes majority of the market due to the presence of developed economies like Saudi Arabia, Dubai, Kuwait and other developed countries within the region. African region has least market share due to lack of awareness and poor economic conditions.
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