The CSF shunts segment by product is estimated to lead the market growth during the forecast period.
According to The Insight Partners market research study of “Asia Pacific Cerebrospinal Fluid Management Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, End User and Country.” The Asia Pacific cerebrospinal fluid management market is expected to reach US$ 370.37 million by 2028 from US$ 227.46 million in 2021; it is estimated to grow at a CAGR of 7.2% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific cerebrospinal fluid management market and the factors driving market along with those that act as hindrances.
Countries having high birth rates and neonatal infections offer a higher risk of pediatric hydrocephalus. Pediatric hydrocephalus is a common neurosurgical condition that contributes to the global burden of surgically treatable diseases. Also, the significantly rising birth rates across the globe increase the risk of neurological conditions. According to the article, “Global Hydrocephalus Epidemiology and Incidence: Systematic Review and Meta-analysis” published in April 2018, it is estimated that annually ~400,000 new cases of pediatric hydrocephalus will be registered globally. Additionally, a tremendous burden of the disease will be marked in Southeast Asia.
Moreover, several medical organizations have initiated hydrocephalus treatment and neurosurgical training programs in Asia Pacific. Such efforts in the regions are expected to offer safe, sustainable, and cost-effective treatments and are also expected to offer developmental opportunities to companies for product development. Furthermore, the increasing healthcare expenditures in the developing regions are expected to offer numerous opportunities in the advanced CSF management systems.
The growing demand for better treatments has resulted in various product developments, resulting in the Asia Pacific cerebrospinal fluid management market growth. For instance, in March 2021, Anuncia announced that FDA has granted breakthrough device designation for its product ReFlow system for CSF management. The device is designed to treat CSF disorders requiring shunting that include hydrocephalus. ReFlow system further allows usage for the device at-home and in-clinic for prophylactic flushing that is performed in a noninvasive manner to prevent CSF blockages potentially.
Economies, such as India, China, Japan, Australia, and South Korea, have been adversely affected by the COVID-19 pandemic. The interruptions in the supply chain and the massive demand for efficient treatments for COVID-19 have put the health research industry in Asia-Pacific in a crucial position. Owing to the pandemic, many neurosurgeons were assigned to COVID-19 wards, which worsened disparities in access for neurosurgical treatments to treat hydrocephalic patients. Therefore, the demand for cerebrospinal fluid management was declined. In addition, the socio-economy was badly hit, with negative inflation, GDP, and unemployment rising in the region. The pandemic has affected three main aspects of the global economy—manufacturing, supply chain, and business and financial markets. Medical device manufacturers and suppliers are shifting their focus on developing and supplying essentials and medical devices for COVID-19 and respiratory diseases. The pandemic is affecting the operations of the various key players operating in the region.
The Asia Pacific cerebrospinal fluid management market, by product, is segmented into CSF shunts and CSF drainage systems. In 2021, the CSF shunts segment held a larger share of the market. The Asia Pacific cerebrospinal fluid management market, by end user, is segmented into hospitals, clinics, ambulatory surgical centers, and neurological centers. Geographically, the Asia Pacific cerebrospinal fluid management market is sub-segmented into China, Japan, India, Australia, South Korea and Rest of Asia Pacific.
Medtronic, Integra Life Sciences Corporation, B. Braun Melsungen AG, DePuy Synthes, Natus Medical Incorporated and Spiegelberg GmbH & Co. KG are among the leading companies operating in the Asia Pacific cerebrospinal fluid management market.
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