External Ventricular Drain Market: Current Analysis and Forecast (2022-2028)

Global External Ventricular Drain Market is expected to grow at a significant rate of around 7% during the forecast period. The global external ventricular drain market is anticipated to witness an uptick owing to the growing prevalence of various neurological disorders and the rise in traumatic brain injuries due to an increase in the number of road accidents across the world. For instance, According to the World Health Organization, approximately 1.3 million people die every year as a result of road traffic crashes. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. Also, as per the United Nations data, in February 2021, nearly 1 in 6 of the world's population, suffer from neurological disorders, such as Alzheimer's and Parkinson's disease, strokes, etc. Furthermore, rapid technological advancement, rising research and development activities and an increasing need for minimally invasive or non-invasive neurosurgeries to reduce trauma and improve patient outcomes are also some of the factors contributing to the growth of the external ventricular drain market across the globe.

Medtronic Plc, Spiegelberg Gmbh & Co. Kg, Moller Medical Gmbh, Braun Melsungen Ag, Integra Life Sciences Corporation, Pfizer Inc., Cadila Pharmaceuticals, Sophysa, Fuji Systems, Geistlich Pharma Inc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new and innovative products.

Insights Presented in the Report

"Amongst application, traumatic brain injury category to witness higher CAGR during the forecast period"

Based on the application, the external ventricular drain market is segmented into traumatic brain injury, intracranial haemorrhage, hydrocephalus, and others. The traumatic brain injury segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe owing to an increase in the number of road accidents leading to rise in the prevalence of traumatic brain injuries. However, the hydrocephalus segment is also expected to grow considerably during the forecast period as it affects a large number of people globally.

"Amongst end-user, the hospitals segment to hold a significant share in the market in 2020"

Based on end-user, the market is fragmented into hospitals, ambulatory surgical centers and others. The hospitals segment is expected to grab a considerable market share in 2020 and is expected to grow with a lucrative CAGR during the forecast period. This can be due to an increased preference for patients to get treatment in hospitals owing to the presence of skilled healthcare professionals, availability of technologically advanced equipment, and a well-established infrastructure.

"North America to hold a significant share in the market"

North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure, high incidences of traumatic brain injuries and a growing prevalence of neurovascular disorders in the region. For instance, as per the CDC, stroke is the fifth leading cause of death and over 140,000 people are killed due to cerebrovascular stroke each year in the U.S. Furthermore, rapid technological advancements and the presence of major medical equipment companies are also contributing towards the growth of the market for the external ventricular drain in the region.

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Deep dive regional level analysis of the industry.

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