The key factors driving the growth of this market include the high prevalence of hydrocephalus and the subsequent increase in the number of shunting procedures and the growing geriatric population.
Market Size
The global Cerebrospinal Fluid Management Market was valued at USD 1.20 Billion in 2016 and is projected to reach USD 1.56 Billion by 2022, at a CAGR of 4.4%.
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“By product, the shunts segment held the largest share of the market in 2017”
By product, the cerebrospinal fluid (CSF) management market is segmented into shunts and external drainage systems. In 2017, the shunts segment accounted for the largest share of the global market. The large share of this segment can be primarily attributed to growing number of shunting procedures performed worldwide as well as the increasing number of revision shunt surgeries owing to shunt malfunction and infection.
“By end user, the pediatric segment accounted for the largest share of the market in 2017”
On the basis of end user, the cerebrospinal fluid (CSF) management market is segmented into pediatric, adult, and geriatric end users. In 2017, the pediatric segment held the largest share of the global market. The large share of this segment can be primarily attributed to high prevalence of congenital hydrocephalus along with the rising number of shunting procedures in the pediatric population.
Recent Developments
• Medtronic invested USD 2.2 billion, USD 1.6 billion, and USD 1.5 billion on R&D in 2016, 2015, and 2014, respectively. Medtronic conducts various training programs to support its end users that ensure effective product use and best possible healthcare results.
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