Cerebrospinal Fluid Drainage Catheter Market expected to drive the over the forecast period.

Posted on 2022-08-19 by researchinsights in Industrial // 0 Comments

Cerebrospinal Fluid Drainage Catheter Industry Overview

The global cerebrospinal fluid drainage catheter market size was valued at USD 257.34 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2021 to 2028.

The demand for Cerebrospinal Fluid (CSF) drainage catheters is anticipated to upsurge owing to the rising incidence of neurological disorders and increasing road accidents, which result in traumatic brain and spinal injuries. In addition, rapid technological advancement and a growing inclination toward minimally invasive procedures are expected to drive the demand for CSF drainage catheters over the forecast period. The current outbreak of COVID-19 has negatively impacted the market for CSF drainage catheters. During this period, brain-related surgeries are often being postponed or even canceled to lower transmission of the disease.

Gather more insights about the market drivers, restrains and growth of the Global Cerebrospinal Fluid Drainage Catheter Market

Neurosurgical procedures dropped to 55% in highly affected countries such as the U.S., India, Brazil, Russia, France, the U.K., Italy, and Spain. As COVID-19 cases skyrocketed in the U.S., in March 2020, the American College of Surgeons (ACS) issued a recommendation to postpone or cancel elective procedures. In addition, the supply chain, manufacturing activities, delivery schedules, and sale of CSF catheters have been disrupted due to the nationwide lockdowns in the past few months. However, the market is expected to rebound and grow over the forecast period as the governments of many nations have started easing lockdown measures and have resumed some of the elective procedures. However, the outbreak has created opportunities for local manufacturers.

Increasing incidence of cranial and spinal injuries/trauma across the globe is a key driver of the market. Road accidents and violence are the most common causes of head trauma and cranial injuries besides falls, sports injuries, and gunshot wounds. This leads to hospitalization and permanent disability for thousands of individuals each year. Elevated intracranial pressure after head and spinal injuries are considered to have an unfavourable outcome with a mortality rate of approximately 20.0%. According to the CDC, 1.5 to 2 million adults and children suffer a traumatic brain injury each year. Hospitalization rates were the highest among older adults aged 65 years and older (81%). Additionally, according to the WHO, every year, between 250,000 and 500,000 people suffer a spinal cord injury globally. The majority of these injuries are due to preventable causes, such as road traffic crashes, falls, or violence. Therefore, CSF drainage catheters have become a cornerstone of care owing to the rise in the number of traumatic brain and spinal injuries across the world.

Moreover, mounting cases of neurological disorders such as hemorrhagic and ischemic strokes, intracranial tumors, hydrocephalus, brain infection, aneurysm, and meningitis are anticipated to drive the market. For instance, as per the WHO, cerebrovascular stroke is the second most common cause of mortality and the third most common cause of disability globally and approximately 60 – 80% of all strokes are ischemic. This happens mainly due to blocked blood vessel that limits the blood supply to the brain or when a weakened blood vessel bursts and bleeds into the surrounding brain. In the past few years, the incidence rate of strokes has increased more than double majorly in low- and middle-income countries. For instance, India has reported a very high incident rate of ischemic stroke, which is one of the leading causes of death. According to a recent study by the All India Institutes of Medical Sciences 2016, around 1.8 million Indians suffer from stroke every year. This is expected to drive the market over the forecast period.

The U.S. dominated the North American market with a revenue share of over 80.0% in 2020 owing to the high incidence rate of cerebrovascular disorders, the availability of skilled neuro professionals, and advanced healthcare infrastructure. In addition, the rising number of neurovascular surgeries due to traumatic brain injuries will influence the regional industry growth. Moreover, an increase in the FDA approvals for CSF drainage catheters in clinical applications, such as head injury, spinal injury, subarachnoid hemorrhages, hydrocephalus, and inflammatory diseases of the cerebrospinal space, is responsible for facilitating the market growth in the region. Thus, the increasing prevalence of medical conditions is increasing the use of CSF drainage catheters, thereby boosting the market growth in the U.S.

Additionally, the growing inclination toward minimally or noninvasive neurosurgeries is projected to accelerate the growth of the market. This growing demand is due to the minimal pain associated with the procedure, safety, efficacy, cost efficiency, and rapid recovery as compared to traditional open surgeries. Moreover, minimally invasive neurovascular procedures involve fewer disruptions of adjacent tissues, making the procedure simpler and more natural. Furthermore, rising concern over aesthetics and natural appearance and less amount of blood loss during surgeries are expected to increase the demand for minimally invasive neurovascular procedures. These benefits are cumulatively responsible to help lower trauma and result in better patient outcomes, thereby expected to drive the market over the forecast period.

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