Global External Ventricular Drain Market Estimated To Grow At A Rapid Pace On Back Of Rising Incidence Of Brain Injuries

Global External Ventricular Drain Market 

The Global External Ventricular Drain Market is highly fragmented in nature owing to the presence of several domestic players. External ventricular drains are essential medical devices used to drain excess cerebrospinal fluid (CSF) from the ventricles of the brain or from around the brain and spine. These drains help maintain optimal pressure in the skull and treat conditions that cause increased pressure, such as hydrocephalus or traumatic brain injury. CSF is constantly produced and circulated through the ventricular system within the brain and spinal cord.

The Global External Ventricular Drain Market is estimated to be valued at US$ 6.89 BN in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Global External Ventricular Drain Market are Spiegelberg GmbH & Co. KG, Medtronic, Sophysa, Neuromedex GmbH, Integra LifeSciences, Möller Medical GmbH, B. Braun SE and Fuji Systems. Rising incidence of brain injuries caused by traumatic accidents and neurological disorders such as hydrocephalus pose lucrative opportunities for players in the External Ventricular Drain Market during the forecast period. The market is also expected to witness significant growth in developing regions of Asia Pacific and Latin America owing to increasing healthcare expenditure and growing awareness.

Market drivers

The Global External Ventricular Drain Market Size is estimated to witness high growth owing to rising incidence of brain injuries. Road accidents, falls and other traumatic injuries are some of the leading causes of brain injuries globally. As per statistics, around 10 million people suffer traumatic brain injuries worldwide annually. External ventricular drains prevent secondary injuries through cerebrospinal fluid drainage in such cases. Increasing prevalence of hydrocephalus and other neurological disorders requiring surgical placement of drains also drives market growth. Additionally, technological advancements in ventricular drain designs that facilitate easier insertion and enhance safety also support market expansion over the forecast period.

Key players operating in the Global External Ventricular Drain Market are Spiegelberg GmbH & Co. KG, Medtronic, Sophysa, Neuromedex GmbH, Integra LifeSciences, Möller Medical GmbH, B. Braun SE and Fuji Systems. Growing prevalence of neurological diseases such as brain injuries, meningitis and hydrocephalus is expected to propel market growth over the forecast period. Furthermore, increasing aged population suffering from such conditions also drives demand. Rising healthcare infrastructure and expenditure in emerging nations also offers numerous opportunities for players in the market. The market is projected to witness high growth in Asia Pacific and Latin America owing to rapidly improving healthcare systems and growing awareness.

PEST Analysis

Political: Approval processes for new/modified medical devices by regulatory bodies like FDA sometimes causes delay in product launch. Ongoing healthcare reforms in many countries are also impacting demand.

Economic: Rise in disposable incomes and increased healthcare spending worldwide is major driver. However, budget constraints in some nations affect market growth.

Social: Aging population prone to brain disorders like hydrocephalus boosts demand. Growing acceptance of minimally invasive neurosurgeries also supports market.

Technological: Advancements in shunt/catheter designs for better drainage, infections control and biocompatibility are key trends. Development of programmable shunt valves with sensors is another area gaining focus.

Geographical Regions of Concentration

North America holds the largest share of the external ventricular drain market in terms of value, due to high incidence of TBI/IH, healthcare investments and availability of advanced treatment options in the region. Factors like growing aging population, favorable reimbursement policies and new product launches also support market growth.

Fastest Growing Region

Asia Pacific region is expected to grow at the fastest rate during the forecast period due to improving healthcare infrastructure, rising medical tourism, growing number of neurosurgeries and disease prevalence in developing nations. Increasing spending capacity of patients, government initiatives and expansion plans of key players also provide opportunities in the APAC external ventricular drain market.

Explore More Articles - Hominy Feed Market