Hydrocephalus Shunts Market Overview

The hydrocephalus shunts market is projected to expand from US$ 286.19 million in 2021 to US$ 360.01 million by 2028, reflecting a compound annual growth rate (CAGR) of 3.4% from 2022 to 2028.

Market Trends and Growth Factors

This report outlines the prevailing trends and the key factors propelling the growth of the hydrocephalus shunts market. The increase in hydrocephalus cases and innovations in hydrocephalus valves are significant contributors to market expansion. However, the high costs associated with shunt treatments and the necessity for revision surgeries pose challenges to market growth.

Understanding Hydrocephalus Shunts

Hydrocephalus shunts are medical devices designed to treat a neurological condition characterized by an excessive accumulation of cerebrospinal fluid (CSF) in the brain, leading to increased intracranial pressure. These devices alleviate pressure on the brain caused by fluid buildup.

Prevalence of Hydrocephalus

Hydrocephalus is a significant cause of morbidity globally, impacting over 1 million individuals in the United States alone. According to the National Institute of Neurological Disorders and Stroke (NINDS), hydrocephalus affects approximately 1 to 2 in every 1,000 children born in the U.S. The University of California's Los Angeles Health Organization estimates that around 125,000 people in the U.S. are currently living with CSF shunts.

Most hydrocephalus cases are diagnosed either prenatally, at birth, or during early childhood. In the U.S., hospitals discharge approximately 69,000 patients each year with a primary diagnosis of hydrocephalus, with about 50% undergoing new shunt placements. A significant portion of these admissions are categorized as urgent or emergency cases. The average cost for each treatment is around US$ 35,816. According to an article titled "Hydrocephalus and Shunts" published by Ausmed, approximately 33,000 individuals in the U.S. undergo shunt placement surgeries annually. CSF diversion and shunt revision surgeries together account for nearly one-third of all neurosurgical procedures performed in the country each year.

Market Segmentation

The hydrocephalus shunts market is categorized based on product type, shunt type, age group, and end user:

• By Product: The market is divided into hydrocephalus valves, hydrocephalus catheters, neuronavigation systems, and others. The hydrocephalus valves segment, which includes adjustable pressure and fixed pressure valves, dominated the market in 2021 and is expected to exhibit the highest CAGR during the forecast period.


• By Shunt Type: The market is segmented into ventriculo-peritoneal, ventriculoatrial, ventriculo-pleural, and lumbo-peritoneal shunts. The ventriculo-peritoneal segment held the largest market share in 2021 and is projected to grow significantly in the coming years.


• By Age Group: The market is divided into pediatric and adult segments. The pediatric segment accounted for the largest share in 2021 and is anticipated to grow at a notable CAGR during the forecast period.


• By End User: The market is segmented into hospitals, ambulatory surgical centers, and others. The hospitals segment is expected to maintain the largest market share in 2021 and is projected to register the highest CAGR during the forecast period.

Impact of COVID-19 on the Hydrocephalus Shunts Market

The COVID-19 pandemic raised significant concerns, leading many healthcare systems to delay or cancel non-essential medical procedures in 2020. This resulted in a notable decline in shunt surgeries, particularly revision surgeries. Many medical device companies adjusted their financial forecasts due to a projected 65-85% drop in surgical procedures during the second quarter of 2020, as seen with Medtronic's revenue predictions.

The pandemic disrupted routine hospital services globally, causing a substantial reduction in elective surgeries to ensure patient safety. However, the emergence of innovative technologies, such as the "eShunt system," is expected to drive the hydrocephalus shunts market's recovery and growth in the post-pandemic landscape.

Strategic Developments in the Market

Companies in the hydrocephalus shunts market are employing various organic and inorganic strategies to enhance their market presence. Organic strategies primarily involve product launches and approvals, while inorganic strategies include acquisitions, collaborations, and partnerships. These strategies enable market players to expand their operations and improve their geographic reach, contributing to overall market growth. Notable developments include:

• In May 2020, Aesculap, Inc. introduced the M.blue valve in the U.S. in collaboration with Christoph Miethke GmbH & Co. KG (MIETHKE), featuring advanced gravitational technology.


• In July 2019, Integra LifeSciences acquired Arkis Biosciences Inc., enhancing its portfolio in neurocritical care and solidifying its leadership in advanced catheter technology.

Conclusion

Key sources referenced in the preparation of this report include the World Health Organization (WHO), the Centers for Disease Control (CDC), and the Food and Drug Administration (FDA). The hydrocephalus shunts market is poised for growth, driven by increasing prevalence, technological advancements, and strategic initiatives by key players.