As per Precedence Research, the external ventricular drain market size is expected to reach US$ 3.75 billion by 2028, growing at a registered CAGR of 5.2% over the forecast period 2022 to 2030.
As per Precedence Research, the external ventricular drain market size is expected to reach US$ 3.75 billion by 2028, growing at a registered CAGR of 5.2% over the forecast period 2022 to 2030.
When the normal flow of cerebrospinal fluid inside the brain is impeded, an external ventricular drain is utilized to treat hydrocephalus and relieve excessive intracranial pressure. A ventriculostomy or external ventricular drain is another term for an external ventricular drain. The external ventricular drain is a temporary device that permits cerebral spinal cord to be drained from the ventricles into a closed external system. The external ventricular drain is one of the most common and lifesaving operations performed in the neurology intensive care unit. The surge in the older population, the burden of neurological illnesses, and the vehicle accidents are driving the growth of the global external ventricular drain market during the forecast period.
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The increased occurrence and prevalence of hydrocephalus as well as traumatic brain injury are expected to be important growth factors driving the expansion of the global external ventricular drain market in the recent years. The external ventricular drain market is also being propelled forward by the surge in the number of brain procedures among children. By integrating patient anatomy and imaging, the use of computer assisted navigation in external ventricular drains has enhanced a range of neurosurgical surgeries. Moreover, the market for external ventricular drain is expected to rise at a faster rate due to increased demand for minimally or non-invasive neurosurgeries to assist reduce trauma and improve patient outcomes. Also, the major market players are launching new product line in the external ventricular drain market.
Report Highlights:
- Based on the indication, the traumatic brain injurysegment dominated the global external ventricular drain market in 2020 with largest market share. The rising occurrence of traumatic brain injuries as a result of car accidents is fueling category expansion. The number of people is hospitalized and permanently disabled each year as a result of such injuries.
- On the basis of end user, the hospitalssegment holds the largest market share the global external ventricular drain market in 2020. In order to perform neurosurgical treatments, hospitals are given first priority. In addition, hospitals have the most up-to-date technology for complex surgeries.
- North America is the largest segment for external ventricular drain market in terms of region. This is because to the higher prevalence of traumatic brain injuries and neurovascular diseases.
- Asia-Pacific region is the fastest growing region in the external ventricular drain market. This is attributed to the growing economies have a large patient base as well as rising healthcare costs.
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Future of External Ventricular Drain Market
The global external ventricular drain market is being driven by the rising occurrence of trauma and cranial injuries. The automobile accidents, sports injuries, and falls are among the most common causes of head trauma and cranial injuries. Every year, number of individuals are hospitalized and permanently injured as a result of this. The increased intracranial pressure is known to have a detrimental effect following a head injury with a death rate of around 20% to 30%. As a result, continuous intracranial pressure monitoring is required to track the progression of brain injury. According to the World Health Organization, vehicle injuries will be the leading cause of death worldwide. All these aforementioned factors are creating prospects for the expansion of the global external ventricular drain market in near future.
COVID-19 Impact Analysis:
- The COVID-19 pandemic had a significant impact on the external ventricular drain market. Due to social distancing measures implemented by governments in the epidemic and the risk of infection transmission through these processes, the utilization of healthcare services and hospital visits has severely decreased.
- The pandemic has disrupted the external ventricular drain market’s supply chain, and the global financial crisis had a significant influence on the external ventricular drain market.
- Nevertheless, this effect is only likely to last a short time and hospitals and patients are expected to take into account the postponed treatments in the near future. As a result, the external ventricular drain market is predicted to accelerate quickly.
Key Developments in the Marketplace:
- Arkis Biosciences Inc, a developer and distributor of neurosurgical devices was acquired by Integra LifeSciences in July 2019. Integra LifeSciences paid USD 300 million for ACell, a company established in the U.S., in December 2020.
- Medtronic PLC paid roughly USD 1.7 billion for Mazor Robotics in January 2019. Mazor Robotics will merge with Medtronic’s Neurosurgery division, which will become part of restorative therapies group’s brain therapies division.
- Digital Surgery, a private organization in surgical AI and training was acquired by Medtronic PLC in February 2020.
Major Market Segments Covered:
By Indication
- Traumatic Brain Injury (TBI)
- Subarachnoid Hemorrhage into CSF
- Meningitis
- Posterior Fossa Tumor
- Subdural Hematoma (SDH)
- Hematomas Posterior Fossa
- IV Ventricle Obstruction
- Others
By End-User
- Hospitals
- Pediatric Care Center
- Ambulatory Surgery Centers
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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