The external ventricular drain market is estimated to reach US $ 10.25 billion by 2030 from a market value of US $ 6.14 billion in 2022 and is expected to grow at a CAGR of 7.6% during the 2022-2030 forecast period. ..
External ventricular drainage (EVD), also known as ventricular fenestration or extra ventricular drainage, is a medical procedure performed in the neurosurgery intensive care unit. External ventricular drains are used to eliminate excess cerebrospinal fluid and utilize a ventricular drainage set to maintain intracranial pressure. Intraventricular drainage set is applied to several medical conditions such as intracranial hypertension, severe obstructive head trauma, transient obstructive hydrocephalus, intraventricular or subarachnoid hemorrhage, and inflammatory disease of cerebrospinal fluid. Will be done. This includes drainage bags, catheters and monitors to help treat the condition. This is expected to be a key driver of growth in the external ventricular drain market during the forecast period.
In addition, increased prevalence of neuropathy and increased road accidents leading to brain damage are key drivers of the growth of the external ventricular drain market. Increasing government initiatives and the adoption of technologically advanced products are also contributing to the growth of the external ventricular drain market. According to Stroke Statistics 2018, more than 100,000 people in the UK suffer from stroke each year, of which about 85% are ischemic strokes and 15% are hemorrhagic, blocking blood flow to the brain. This is increasing the demand for external ventricular drains, which may contribute to the growth of the external ventricular drain market worldwide. However, complex regulatory frameworks for product approval and complications associated with ventricular drainage procedures may curb growth in the external ventricular drain market during the 2022-2030 forecast period.
Global market growth can be attributed to various significant advances in the healthcare industry to promote health through the development of three basic parameters: detection, prevention, and treatment. These parameters are needed to measure health, quality of life, and the overall health system. In addition, rising medical costs are driving market growth. According to the Organization for Economic Co-operation and Development (OECD) statistics, Japan’s total per capita health care costs (government, compulsory health insurance, voluntary health insurance) increased from US $ 4297.13 in 2016 to US $ 4823 in 2019. Similarly, in the United States, it increased from $ 9880.16 to $ 11072 in 2019. Germany has witnessed an increase from $ 5668 to $ 6646, and the United Kingdom has observed growth from $ 3990 to $ 4653.05 during the above period. Globally, healthcare costs are projected to grow at a CAGR of approximately 5% between 2020 and 2024.
Advances in the healthcare sector are estimated to provide lucrative business opportunities for key players to take advantage of these opportunities in the coming years. In addition, some initiatives taken by healthcare professionals and government agencies to overcome some challenges (unreachable and affordable medical services, lack of medical investment, trained doctors and nurses, etc.) It is expected to boost market growth during the forecast period.
External ventricular drain market segment
The external ventricular drain market is divided by application (traumatic brain injury, subarachnoid hemorrhage, intracerebral hemorrhage, and other non-traumatic hydrocephalus conditions) and by region. These segments are further subsegmented based on a variety of factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.
Regional overview of the external ventricular drain market
In addition, the report covers all regions of the world, divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa and more. North America is the world’s leading region in terms of market share. This is due to the increased incidence of traumatic brain injury and other neurovascular disorders, and the presence of a significant number of market vendors in the region. Meanwhile, the Asia Pacific external ventricular drain market is expected to register the largest CAGR during the 2022-2030 forecast period. Factors such as an increasing number of cases of brain injury and improved medical infrastructure in developing countries such as China and India create favorable opportunities for the growth of the external ventricular drain market in the Asia-Pacific region.
For more detailed analysis, each region is further divided into countries:
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Singapore and other Asia Pacific)
- North America (US and Canada)
- Middle East and Africa (Israel, GCC [Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, and other Middle East and Africa)
- Latin America (Brazil, Mexico, Argentina, and other Latin America)
- Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands, Luxemburg, NORDIC, Poland, Turkey, Russia and other Europe)
A major key player in the external ventricular drain market
Key players in the external ventricular drain market include Spiegelberg Gmbh & Co. Kg, Medtronic plc, Sophysa, Dispomedica Gmbh, Möller Medical GmbH, Fuji Systems Corporation, B. Braun Melsungen Ag and Integra Life Sciences Holdings Corporation. The study includes a detailed competitive analysis of these key companies in the external ventricular drain market, company profiles, recent developments, and key market strategies.