The global external ventricular drain market size is projected to hit USD 3.97 billion by 2030 from USD 2.51 billion in 2020, growing at a CAGR of 5.2% during the estimate period 2021 to 2030.
Major Trends in the External Ventricular Drain Industry:
An external ventricular drain (EVD) is employed for the drainage of CSF (cerebrospinal fluid) from the brain ventricles. The ventricular drainage arrangements are used to release elevated ICP (intracranial pressure), drain blood post hemorrhages, trench the infected cerebrospinal fluid, distract the stream of cerebrospinal liquid, and supervise the intracranial stress. A ventricular drainage apparatus contains an exterior drainage arrangement linked to ventricular catheter. The arrangement comprises numerous components like an ant reflux gathering chamber, access port, pressure scale, and drainage bag. It is typically inserted in the operation theatre by a brain surgeon, and the process is carried out with general anesthesia.
Over the recent past, the incidence of hydrocephalus has augmented significantly, enhancing the demand for EVD (external ventricular drain) as a procedure of treatment. The high incidence of hydrocephalus and the rising geriatric population are major aspects that are anticipated to drive the market progress over the forecast time-duration. The rising healthcare market in emerging economies is also anticipated to provide development opportunities for the external ventricular drain industry over the forecast duration.
The increasing prevalence of hydrocephalus is one of the major driving factors for the growth of global external ventricular drain market. Hydrocephalus is an atypical build-up of liquid in the ventricles (cavities) deep inside the brain. This surplus fluid induces the ventricles to broaden, putting stress on the tissues of the brain. Cerebrospinal fluid (CSF) is the colorless, clear fluid that shields and cushions the spine and brain. Usually, cerebrospinal fluid tides through the ventricles and rinses the spinal cord and brain before getting resorbed into the blood flow. The body stereotypically produces adequate CSF every day and engrosses the same quantity. Nevertheless, when the regular flow or assimilation of CSF is jammed it can lead to an aggregation of CSF. The stress from excessive CSF can restrain the brain from operating properly and induce brain damage and even demise. As per the Hydrocephalus Association, around 1 million individuals in the U.S. are affected by hydrocephalus, in each stage of lifetime, from newborns to the aged. Hydrocephalus can be extremely grave, and even lethal if left untreated. Around 50% of individuals who don’t undergo treatment for hydrocephalus die. While, the other half live with what is termed arrested hydrocephalus.
Crucial factors accountable for market growth are:
COVID-19 Impact on Global External Ventricular Drain Market
The COVID-19 pandemic is attracting attention to the previously overburdened public healthcare systems in numerous countries. The pandemic has highlighted the strong necessity for sustainable outlay in healthcare arrangements, including in the healthcare workforce, and for prudent working conditions, equipment, and training specially with respect to PPE (personal protective equipment) and work-related safety. Augmented spending on investigation and advance along with collaborations, acquisition, and mergers are the central strategies adopted by the major companies active in the global external ventricular drain market.
Due to the overburden of the medical staff, the people who need periodic surgeries to drain out CSF (cerebrospinal fluid) and for the regular monitoring of CSF are at high risks in the wake of the current situation. Surgical amenities need a emergency plan for preserving surgical care in an on-going or post pandemic phase.
Significant Market Trends:
Traumatic Brain Injury (TBI) Segment Reported Foremost Market Stake in 2020
The traumatic brain injury (TBI) displayed the major share in the worldwide external ventricular drain market in 2020.Increasing number of accidents leading to brain injuries is the key reason for highest market stake of software segment. The factors such as increasing number of sports injuries and technological advancements are expected to retain the dominance of software in the near future.
The meningitis segment is anticipated grow at the maximum CAGR through the forecast time-frame mainly due to high anticipated demand.
Hospitals Dominated the Market Revenue By End-User
High preference is given to hospitals for carrying out complex neurosurgical procedures. Moreover, hospitals are equipped with the latest equipment required for advanced procedures.
North America is Estimated to be the Largest Market for External Ventricular Drain
The detailed research report covers significant prospects and inclinations of external ventricular drain products throughout different regions including Europe, North America, Asia-Pacific, Africa, Middle East, and Latin America. By region, external ventricular drain market is led by North America due to early adoption of advanced healthcare technologies and availability of state-of-the-art healthcare infrastructure. Europe reported the second maximum share predominantly due to presence of key industry players and increasing geriatric population. Asia-Pacific is also anticipated to witness the rapid growth rate, on account of increasing investment by major manufacturers and high number of accidents.
Top Players contending in the Market:
The companies focusing on research and development are expected to lead the global external ventricular drain market. Leading competitors contending in global external ventricular drain market are as follows:
In order to well recognize the present status of external ventricular drain, and policies implemented by the foremost nations, Precedence Research projected the future progress of the external ventricular drain market. This research report bids quantitative and qualitative insights on external ventricular drain market and valuation of market size and progress trend for probable market segments.
Major Market Segments Covered:
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