Article -> Article Details
Title | Cerebrospinal Fluid Management (CSF) Devices Market Showcases Promising Growth by 2023 |
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Category | Fitness Health --> Exercise and Fitness |
Meta Keywords | Cerebrospinal Fluid Management (CSF) Devices Market |
Owner | vinit |
Description | |
The Cerebrospinal Fluid Management (CSF) Devices market is growing
pervasively. The market growth attributes to the rising prevalence of various neurological
diseases and disorders. CSF devices are primarily used in the treatment of
hydrocephalus, a condition that refers to the accumulation of cerebrospinal
fluid (CSF) in the brain. Hence, the
growing awareness for this condition is also a significant factor that, along
with the adoption of advanced and minimally invasive treatment procedures,
escalates the market growth to furthered height. According to Market Research Future (MRFR), the global cerebrospinal
fluid management (CSF) devices market is estimated to grow at
approx. 4.5% CAGR during the forecast period (2018 -2023). Also, factors such
as the growing geriatric population and awareness about hydrocephalus propel
the growth of the market. Simultaneously, the increasing prevalence of hydrocephalus
in children boosts the market growth to an extent. Also, several risk factors
leading to neurological disorders are creating enormous market demand. Additionally, increasing government funding and programs to support the
R&D activities required for the development of CSF devices substantiate
market growth. Furthermore, technological advances in the field of smart and
connected devices, alongside the uses of some ubiquitous technologies such as
Artificial Intelligence (AI) and the Internet of Things (IoT) to better
diagnostic and treatment methods foster the market growth. Conversely, factors such as the lack of trained professionals and
side-effects associated with the treatment are projected to obstruct the market
growth in years to come. Also, the high cost of CSF devices and lack of
awareness for Hydrocephalus condition, act as major growth impeders for the
market growth, especially in underdeveloped regions. Nevertheless, product
launches of cost-competitive CSF devices would support the market growth
throughout the anticipated period, filling the demand-supply gap. Cerebrospinal
Fluid Management Devices Market - Regional Analysis North America dominates the global cerebrospinal fluid management devices
market. The largest market share attributes to the strong presence of notable
market players and a large base of patients suffering from various neurological
diseases & disorders. Besides, the early uptake of technologically advanced
medical devices for the treatment of the growing prevalence of neurological
disorders in children and adults drive the regional market growth. Furthermore, factors such as the increasing R&D support by the
governments and high expenditures in neurological care substantiate the market
growth. The North American CSF devices market is estimated to retain its
dominance over the global market throughout the forecast period. Europe stands second in the global cerebrospinal fluid management devices
market. Growth is driven by rising research and development investments and
increasing technological advancements. Moreover, factors such as the increasing
incidents of neurological disorders and focus on the development of advent
diagnostic devices contribute to the regional market growth. Also, rising
government support for R&D activities, alongside the increasing numbers of
specialty services offered by various healthcare providers in the region fosters
market growth. Asia Pacific is an emerging market for cerebrospinal fluid management
devices. Factors such as increased healthcare expenditures and rising cases of
hydrocephalus drive the growth of the regional market. Additionally, growing
occurrences of neurological disorders in the region, fuel the market
growth. Furthermore, augmenting demand
for quality devices to treat neurological diseases & disorders and
penetration of healthcare technology provide impetus to the regional market
growth, leading to increasing the uptake of CSF devices. Global Cerebrospinal
Fluid Management Devices Market- Competitive Analysis Highly competitive, the CSF devices market appears fragmented, with a
large number of players in the market churning the competition. Increasing
incidences of drug resistance have opened doors for new entrants and leaders'
development of new devices and opportunities. The rise of spurious and
counterfeit devices has reduced the total market revenues, displacing standard
devices off the market. Major Players: Players leading the CSF devices market include Integra LifeSciences
Holdings Corporation, Medtronic plc, B. Braun Melsungen AG, Spiegelberg GmbH
& Co. KG, DePuy Synthes, SOPHYSA, Dispomedica GmbH, Natus Medical
Incorporated, Delta Surgical Limited, Moller Medical GmbH, Argi Grup, G.
SURGIWEAR LTD., BeckerSmith Medical, Inc., and Wellong Instruments Co., Ltd.,
among others. |