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The hydrocephalus shunts market share is expected to increase by USD 116.33 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.34%.
This hydrocephalus shunts market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers hydrocephalus shunts market segmentations by product (hydrocephalus valves and hydrocephalus catheters) and geography (North America, Europe, Asia, and Rest of World (ROW)). The hydrocephalus shunts market report also offers information on several market vendors, including B Braun Melsungen AG, Beaumont Health, Christoph Miethke GmbH and Co. KG, Fuji Systems Co. Ltd., G.SURGIWEAR LTD., HLL Lifecare Ltd., HpBio, Integra LifeSciences Corp., Johnson and Johnson, Kaneka Medics Co. Ltd., Medtronic Plc, Natus Medical Inc., Sophysa, Spiegelberg GmbH and Co. KG, and Tokibo Co. Ltd. among others.
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The improved healthcare infrastructure is notably driving the hydrocephalus shunts market growth, although factors such as lack of skilled expertise may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hydrocephalus shunts industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Hydrocephalus Shunts Market Driver
The improved healthcare infrastructure is one of the key drivers supporting the hydrocephalus shunts market growth. The healthcare sector is growing significantly in developing countries such as India and China. In India, healthcare has become one of the largest sectors in terms of revenue generation and employment. The growth of the healthcare sector is mainly attributed to the rising disposable income of people, especially in developing countries, and the rising awareness of the availability of advanced treatment options for various health conditions. Furthermore, the governments of various developed countries, such as the US and the UK, are spending heavily on the improvement of the healthcare infrastructure. Thus, the improving economic condition will increase the healthcare expenditure, which will positively impact the demand for healthcare equipment and, in turn, fuel the growth of the global hydrocephalus shunts market during the forecast period.
Key Hydrocephalus Shunts Market Trend
Technological advances is one of the key hydrocephalus shunts market trends that is contributing to market growth. For instance, since May 2021, Penn State researchers have been developing a new technology called HydroFix, which is an advanced surgical shunt system designed to mitigate the risks associated with the current shunts on the market. It provides a durable treatment solution for normal pressure hydrocephalus (NPH), a disease resulting from too much CSF around brain patients. Thus, technology is one of the key success factors when it comes to the development of the healthcare industry. Hence, with rapid technological advances, the healthcare industry is expected to grow significantly, which, in turn, will fuel the growth of the global hydrocephalus shunts market during the forecast period.
Key Hydrocephalus Shunts Market Challenge
The lack of skilled expertise is one of the factors hindering the hydrocephalus shunts market growth. For instance, the Association of periOperative Registered Nurses' recommendations includes proper usage of electrosurgery devices and a checklist to minimize the risks for hospital staff and patients. Inefficient use of electrosurgery devices causes thermal burns to the patients. The risk of complications is often linked to the surgeon's fundamental knowledge of surgical techniques, instruments, biophysics, anatomy, and safe technical equipment. Likewise, Accreditation Council for Graduate Medical Education has mandated the development of novel methods of training and maintenance of the skills. Thus, the lack of skilled expertise and the need for more experienced professionals will potentially hamper the growth of the market during the forecast period.
This hydrocephalus shunts market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global hydrocephalus shunts market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the hydrocephalus shunts market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the hydrocephalus shunts market encompasses successful business strategies deployed by the key vendors. The hydrocephalus shunts market is concentrated and the vendors are deploying growth strategies such as M&A activities to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The hydrocephalus shunts market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the hydrocephalus shunts market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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