Hydrocephalus Market is expected to be valued at USD 7,340.4 million in 2022, growing at a 4.3% CAGR from 2022 to 2028. Hydrocephalus is a medical condition in which the cerebrospinal fluid (CSF) that generally passes through the spaces of the brain and spinal column in regular circumstances starts accumulating in the cavities of brain structures, resulting in a variety of cognitive abnormalities. Hydrocephalus in infants can be observed as head enlargement. The several symptoms of hydrocephalus are headaches, blurred vision, cognitive impairments, incontinence, and loss of coordination. A rise in the elderly age population and the increasing prevalence of neurological conditions are some major factors that drive the hydrocephalus market. Furthermore, rising healthcare expenditure also supports to propel the Hydrocephalus market growth. Hydrocephalus market growth could be restrained to a certain extent due to the rising number of product recalls dropping the demand for Hydrocephalus solutions. An upsurge in novel technological advancement will create lucrative opportunities among various prominent players in the market. Technological advancements are the primary trends gaining popularity in the hydrocephalus market. The prominent players in the market are developing technologically advanced hydrocephalus devices for the treatment of hydrocephalus. For instance, In September 2019, Integra LifeSciences Holdings Corporation, a US-based medical device manufacturing company acquired Rebound Therapeutics for an undisclosed amount. Through this acquisition, Integra Lifescience will increase its collection of neurosurgical products and therapeutic-focused capabilities to develop more technologically innovative products to meet the neurosurgery needs of a wide range of patients. Moreover, the lack of accessibility in low and middle-income regions acts as a challenge for the Hydrocephalus market growth. The COVID-19 pandemic has affected numerous industrial sectors, and the Hydrocephalus market is had a negative impact due to the pandemic. The COVID-19 pandemic has disrupted the supply and demand of raw materials and finished products. However, with key players in the market investing in the advancement of hydrocephalic treatments, the market will further have a progressive growth rate during the forecasted period.
Recent Market Development:
In June 2021, Medtronic has announced the U.S. Food and Drug Administration (FDA) approval and the first U.S. implants of the SenSight Directional Lead System used for Deep Brain Stimulation (DBS) therapy. It will enhance their product sales in the neurological field.
in June 2021, Cranial Devices Inc., a US-based start-up from Pennsylvania State University advanced a device named HydroFix, a high-tech shunt system that involves a CSF drain to improve the treatment of hydrocephalus. HydroFix technology will address the significant unmet clinical needs of reducing the risks related to surgical shunts failure.
In June 2020, CereVasc raised $43.9 million in series A financing to support the development of a minimally invasive alternative for hydrocephalus.