The North America Cerebrospinal Fluid Drainage Catheter Market would witness market growth of 7.9% CAGR during the forecast period (2021-2027).
The U.S. is the one of the main countries of the North American region and it is dominating in terms of the demand of Cerebrospinal Fluid Drainage Catheter Market. This is because of the huge rate of cerebrovascular disorders, sophisticated healthcare infrastructure, and the high availability of proficient neuro experts. Additionally, the growth of the market would also be propelled by the surge in the number of neurovascular surgeries owing to the traumatic brain in injuries.
Moreover, a growing number of FDA approvals for CSF drainage catheters in clinical applications like spinal injury, hydrocephalus, head injury, subarachnoid hemorrhages, and inflammatory diseases of the cerebrospinal space, which is boosting the growth of the market. Therefore, the surge in the occurrences of medical conditions is propelling the usage of CSF drainage catheters, hence accelerating the growth of the market.
As per the CDC, 1,500,000 to 2,000,000 individuals and children face a traumatic brain injury every year. The rate of hospitalization was the largest among the older adults aged 65 years and older (81%). In addition, as per the WHO, around 250,000 to 500,000 individuals experience a spinal cord injury every year around the world. The high percentage of these injuries is because of avoidable reasons, like traffic crashes, violence, or falls. Thus, CSF drainage catheters are increasingly becoming a crucial aspect of care due to the growing cases of traumatic brain and spinal injuries worldwide.
The young generation of the North American region is highly inclined towards sports and recreational activities. The people engaged in such activities are also prone to traumatic brain and spinal injuries. Each year, a significant number of individuals are hospitalized because of sport-related injuries. Due to this, the growth of the regional Cerebrospinal Fluid Drainage Catheter market would witness bright prospects during the forecast period.
The high rate of cerebrovascular diseases, the accessibility of skilled neuro experts, and the sophisticated healthcare system are some of the factors that would fuel the growth of the regional market in the next few years. In addition, the increment in the number of neurovascular surgeries because of traumatic brain injuries will positively impact the growth of the regional market. Moreover, a surge in the number of FDA approvals for CSF drainage catheters in clinical applications like spinal injury, hydrocephalus, head injury, subarachnoid hemorrhages, and inflammatory diseases of the cerebrospinal space would augment the growth of the regional market.
The US market dominated the North America Subarachnoid hemorrhage Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $16,614.8 million by 2027. The Canada market is experiencing a CAGR of 11.2% during (2021-2027). Additionally, The Mexico market would witness a CAGR of 10.3% during (2021-2027).
Based on Application, the market is segmented into Traumatic Brain Injury, Traumatic Spinal Injury, Subarachnoid hemorrhage, Intracerebral hemorrhage, and Others Applications. Based on Type, the market is segmented into Ventricular Drainage Catheter and Lumbar Drainage Catheter. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Cerebrospinal Fluid Drainage Catheter Market is Estimated to Reach USD 402.6 Million by 2027 at a CAGR of 8.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Medtronic PLC, Integra LifeSciences Holdings Corporation, Spiegelberg GmbH & Co. KG, Natus Medical Incorporated, B. Braun Melsungen AG, Johnson & Johnson, Moller Medical GmbH (Centrotec SE), Sophysa (Tokibo Co., Ltd.), Desu Medical, and Delta Surgical
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