Report : South & Central America Cerebrospinal Fluid Management Market Forecast to 2030 –Regional Analysis – by Product (CSF Shunts and CSF Drainage Systems) and End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others)
At 3.7% CAGR, the South & Central America Cerebrospinal Fluid Management Market is speculated to be worth US$ 123.89 million by 2030, says Business Market Insights
According to Business Market Insights’ research, the South & Central America cerebrospinal fluid management market was valued at US$ 92.52 million in 2022 and is expected to reach US$ 123.89 million by 2030, registering a CAGR of 3.7% from 2022 to 2030. Increasing cases of cerebrospinal fluid leak is among the critical factors attributed to the South & Central America cerebrospinal fluid management market expansion.
Shunts for hydrocephalus require an average of 10 revisions during the patient’s lifetime. The risk of diagnosis and treatment failure, limited control options, and complications have offered various opportunities for product developers. Advancements in medical technologies have allowed companies in the cerebrospinal fluid management market to introduce “smart shunts,” offering hi-tech control, diagnosis, and communication-based solutions. Smart shunts can control CSF drainage based on feedback from one or more measurement parameters inbuilt in shunt. Additionally, researchers expect that smart shunts have the potential to offer sophisticated control over mechanical operations by providing data about shunt malfunction. It is further expected to reduce the risk of shunt obstructions, eventually, lowering the chances of failures. Late-stage product development companies operating in the cerebrospinal fluid management market demand experimental results to seek approvals and commercialize smart shunts. The primary focus is on shunts designed to assess cerebrospinal fluid pressure noninvasively in physicians’ offices or at home through an implanted pressure sensor and shunts. Hence, the ongoing technological advancements are leading to significant trends such as smart shunts the South & Central America cerebrospinal fluid management market.
On the contrary, risk of failure and malfunctioning hampers on the growth of South & Central America cerebrospinal fluid management market.
Based on product, the South & Central America cerebrospinal fluid management market is bifurcated into CSF shunts and CSF drainage systems. The CSF shunts segment held 82.9% share of South & Central America cerebrospinal fluid management market in 2022, amassing US$ 76.68 million. It is projected to garner US$ 104.53 million by 2030 to expand at 3.9% CAGR during 2022–2030.
Based on end user, the South & Central America cerebrospinal fluid management market is segmented into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment held 49.3% share of South & Central America cerebrospinal fluid management market in 2022, amassing US$ 45.61 million. It is projected to garner US$ 64.15 million by 2030 to expand at 4.4% CAGR during 2022–2030.
Based on country, the South & Central America cerebrospinal fluid management market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 39.1% share of South & Central America cerebrospinal fluid management market in 2022. It was assessed at US$ 36.13 million in 2022 and is likely to hit US$ 51.70 million by 2030, exhibiting a CAGR of 4.6% during 2022–2030.
Key players operating in the South & Central America cerebrospinal fluid management market are B. Braun SE, Integra LifeSciences Holdings Corp, Medtronic Plc, and Spiegelberg GmbH & Co KG, among others.
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