Cerebral Spinal Fluid Management Market Expected to Reach $1.03 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cerebral Spinal Fluid Management Market," The cerebral spinal fluid management market was valued at $0.67 billion in 2021, and is estimated to reach $1.03 billion by 2031, growing at a CAGR of 4.4% from 2022 to 2031.

The cerebral spinal fluid may leak if the fluid that surrounds brain and spinal cord begins to drain out from where it may be supposed in various severe conditions. If the leak is large enough, it can cause severe symptoms that make it hard or even impossible to do normal tasks. That may cause conditions like a condition known as intracranial hypotension. Moreover, hydrocephalus is the buildup of fluid in the cavities deep within the brain. The excess fluid increases the size of the ventricles and puts pressure on the brain. This may lead to the conditions like hydrocephalus. Hence, it can be better managed with the options that include the placing of CSF shunts. 

The placement of cerebral spinal fluid (CSF) shunt systems to manage conditions like hydrocephalus may prove a life-saving treatment for many patients. Hence, the increase in the adoption of CSF shunts for the purpose of treatment drives the growth of the Cerebrospinal Fluid Management Industry.

Moreover, the Cerebrospinal Fluid Management Market Trends such as research activities regarding the CSF management and funded by the private organizations or the government authorities for the study of the various new product pipelines. The growth in the expenditure from these authorities boosts the research activities which can help in the increased product efficiency with minimal side effects thereby driving the growth of the Cerebrospinal Fluid Management Market Size. In addition, increase in the prevalence of brain surgeries may also help in the growth of the Cerebrospinal Fluid Management Market Size. For instance, according to the data by American Society for Biochemistry and Molecular Biology in March 2021, a total of 2.8 million people sustained a traumatic brain injury (TBI) every year, with some 280,000 resulting in hospitalizations.  

Furthermore, the launch of new products with the advancement such that it fulfills the need of the hour and rise in the inclination towards research and development of the formulation which can be used to treat various illnesses would help the market boost in the coming years. However, the cost factor of the treatment may lead to avoidance or postponing of the treatment procedure among low-income population which is expected to hinder the growth of the Cerebrospinal Fluid Management Industry. Conversely, rise in adoptions of various strategies like acquisitions, partnerships, collaborations and product development is expected to create lucrative Cerebrospinal Fluid Management Market Opportunity. 

The cerebral spinal fluid management market is segmented on the basis of type, age group and region. On the basis of type, the market is bifurcated into CSF shunts and external drainage system. On the basis of age group, the market is classified into pediatric and adult. Region wise, the market is studied across North America, Europe, Asia-Pacific and LAMEA. 

On the basis of type, the market is classified into CSF shunts and external drainage system. The external drainage system segment is projected to exhibit the fastest market growth of Cerebrospinal Fluid Management Market Share during the Cerebrospinal Fluid Management Market Forecast period, owing to increase in the adoption of the CSF shunts in the in the treatment of brain injuries related to the cerebral spinal fluid, increase in the prevalence of the brain diseases. Moreover, the research organizations are majorly contributing to increase in the demand for CSF management. The research activities related to the shunts may help in the study of safety and efficiency of the device thereby growing its demand.  

On the basis of age group, the market is classified into pediatric and adult. The pediatric segment is anticipated to grow at the highest rate of Cerebrospinal Fluid Management Market Share for the Cerebrospinal Fluid Management Market Analysis period, owing to upsurge in population of geriatric patients. The geriatric people are more prone to brain disorders and hence in more need of CSF management. Moreover, increase in number of product launches, and rise in awareness regarding the use of CSF shunts among the patients of developing countries contribute toward the growth of the market.  

On the basis of region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). In 2021, North America was the dominant region and is expected to remain dominant throughout the Cerebrospinal Fluid Management Market Forecast period, owing to high expenditure in the research and development activities by the market players, increase in the number market players present in the region and surge in the product launches in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to increase in the number of clinical trials which helps to accelerate the demand for cerebral spinal fluid management and the increasing number of strategies and trends adopted by the market players like product launch and acquisition. 

Key findings of the study 

• By type, the CSF shunts segment accounted for major share of the cerebral spinal fluid management market in 2021.  

• By age group, the pediatric segment is anticipated to grow with the highest CAGR throughout the Cerebrospinal Fluid Management Market Forecast period. 

• By region, North America occupied major share of the cerebral spinal fluid management market in 2021. 

• By type, the CSF shunts segment accounted for major share of the cerebral spinal fluid management market in 2021.  

• By age group, the pediatric segment is anticipated to grow with the highest CAGR throughout the forecast period. 

• By region, North America occupied major share of the cerebral spinal fluid management market in 2021.