According to a new report the U.S. Neuromodulation, Neurovascular, Neurosurgical and Monitoring Device Market will grow to over $5 billion by 2020. This growth will be fuelled by favourable reimbursement, increasing neurological procedure growth and extensive technological advancement, especially in the area of Neuromodulation.
Hydrocephalus can result when absorption of fluid into the bloodstream is hindered, resulting in an accumulation of cerebrospinal fluid (CSF). This condition can result in an increased intracranial pressure inside of the skull, tunnel vision, mental disability, progressive enlargement of the head and it may even cause death. “CSF leakage occurs in 2% to 3% of all head injuries, thus making it a prevalent condition in the hospital emergency room,” says Dr. Zamanian, CEO of iData. In 2013, there were close to 58,000 cerebrospinal fluid (CSF) shunting procedures performed in the U.S.
Hydrocephalus is treated surgically by the insertion of a shunt – a flexible, plastic tube with a one-way valve – into the ventricular system of the brain. The market for shunts represents an opportunity for innovation as companies attempt to curb the high failure rate wherein an estimated 40% of shunts fail within 2 years. The market for shunts is increasing due to growth in procedures and more importantly a shift towards pressure adjustable shunts, which cost nearly four times the cost of a fixed pressure shunt.
- Deep Brain Stimulator: Used as a treatment for treatment-resistant movement and affective disorders such as Parkinson’s disease, tremors and dystonia. Currently, Medtronic is the only competitor within this market. The expected entry of St. Jude Medical and Boston Scientific will provide a catalyst for significant market growth by 2020.
- Neurovascular Flow Diversion Stenting: Has emerged as a new and promising endovascular treatment for aneurysms. Covidien’s Pipeline™, the only FDA approved flow diversion device, restores original, natural blood circulation while providing permanent long-term occlusion. The market will grow at a CAGR of 25% by 2020.
Intracranial Pressure Monitoring Device Market
Detachable Coil Market
Liquid Embolics Market
Neurovascular Catheter Market
Neurovascular Guidewire Market
Neurovascular Stent Market
Ultrasonic Aspirator Market
Neurological Microscope Market
Aneurysm Clip Market
Intrathecal Pump Market
Neurosurgery Robotic Assisted Surgery System Market