May 23, 2024
Global External Ventricular Drain Market

Global External Ventricular Drain Market Is Estimated To Witness High Growth Owing To Technological Advancements In Neurosurgical Procedures

The Global External Ventricular Drain Market is primarily used for treating conditions related to hydrocephalus and monitoring of intracranial pressure (ICP). It helps in draining excess cerebrospinal fluid from the brain to regulate the brain pressure. External ventricular drainage plays a critical role in the management of various neurological disorders such as subarachnoid hemorrhage, traumatic brain injury, and aneurysmal subarachnoid hemorrhage.

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 Size are Spiegelberg GmbH & Co. KG, Medtronic, Sophysa, Neuromedex GmbH, Integra LifeSciences, Möller Medical GmbH, B. Braun SE and Fuji Systems.

The key opportunities in the global External Ventricular Drain market include rise in cases of hydrocephalus and traumatic brain injuries. Increasing application of minimally invasive neurosurgical procedures along with technological advancements in external ventricular drainage devices presents lucrative growth prospects.

Recent technological advancements such as anti-siphon and programmable valves have expanded the scope of treatment for hydrocephalus and other neurological conditions. Advancements in non-invasive ICP monitoring technologies are further strengthening the market potential.

Market Drivers

Rise in aging population and increasing incidence of neurological disorders such as stroke, head injury, meningitis, and brain tumors are majorly driving the demand for external ventricular drainage procedures. Growing prevalence of conditions indicating increased intracranial pressure including hydrocephalus, is a key factor bolstering the market growth. Favorable reimbursement scenario coupled with growing healthcare expenditure is also anticipated to propel the market during the forecast period.

Current Challenges in the Global External Ventricular Drain Market

The global external ventricular drain market has been experiencing few challenges which include high cost of advanced external ventricular drain devices, risks associated with external ventricular drainage procedure such as infection, hemorrhage and malfunction of devices. Additionally, lack of skilled neurosurgeons and shortage of advanced healthcare facilities in developing regions are also posing a challenge for the growth of this market.

SWOT Analysis

Strength: Advanced technological features such as programmable flow control and monitoring allow accurate and non-invasive management of cerebrospinal fluid pressure.
Weakness: Risks of procedure related complications including blockage of catheter, hemorrhage and ventriculitis.
Opportunity: Increasing research and developmental activities to develop more reliable and user-friendly external ventricular drain systems.
Threats: Stringent regulatory norms for approval of new devices and technologies.

The United States accounts for the largest share in terms of value in the global external ventricular drain market owing to the presence of advanced healthcare infrastructure and high adoption of advanced neurosurgical devices. Europe is the second largest market followed by Asia Pacific.

Asia Pacific region is expected to witness highest growth over the forecast period owing to increasing healthcare expenditure, growing aging population, rising incidence of neurological disorders and improving healthcare infrastructure in China and India.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it