External Ventricular Drain Market exhibiting CAGR of 7.2% from 2023 to 2032, owing to rising incidence of neurological disorders | insightSLICE
A CAGR of 7.2% is anticipated for the External Ventricular Drain Market through 2032 upon an existing market value of US$ 5.2 billion as of 2021.
The key reasons propelling the market growth are an increase in neurological illnesses and an increase in traffic accidents that result in severe traumatic brain injuries.
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The key players of the Global External Ventricular Drain Market are:
Möller Medical GmbH, Sophysa, B. Braun Melsungen AG, Medtronic, Integra LifeSciences, Fuji Systems, Spegelberg GmbH & Co. KG, and Dispomedica GmbH are a few of the well-known players in the global external ventricular drain market.
Driving factors for the growth of Global External Ventricular Drain Market
Numerous research projects and considerable efforts to develop new products are a few additional things that are expected to drive market expansion in the next years.
According to the WHO, neurovascular stroke ranks as the third most prevalent cause of disability and the second leading cause of death worldwide, and 60 to 80 percent of all strokes are ischemic. This occurs when blocked veins prevent blood from flowing freely to the brain or when a weak vein burst and spills into the surrounding brain.
Furthermore, a significant factor driving the market for external ventricular drains is the rising incidence of cranial trauma and fatalities internationally. The most frequent causes of head and cranial injuries are sports-related injuries and automobile accidents.
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Every year, countless individuals are hospitalized as a result, and many of them suffer lasting impairment. Increased intracranial pressure (ICP) following a head injury is thought to have a negative effect with a mortality rate of about 20%.
Therefore, it is essential to continuously monitor intracranial pressure to track the progression of brain injury. Automobile injuries are predicted by the WHO to rank as the ninth leading cause of death worldwide.
Moreover, based on the Association for Safe International Traffic Travel’s 2018 study, 20 to 50 million people worldwide suffer damage or become disabled as a result of road accidents each year.
In the United States, falls (52%) and traffic accidents (20%) are the two main causes of all hospitalizations involving trauma. The need for external ventricular drains for treatment will ultimately increase as a result of these factors during the forecast period.
Our report will provide valuable insights:
The report for the Global External Ventricular Drain Market 2022-2032, considers the competitive environment and therefore will analyze leading players in the external ventricular drain industry along with their company profiles and market perspective.
In addition, the report will also include information on important advancements, global and regional sales networks, business strategies, research and development initiatives, staff strength, and key executives for all significant market participants.
The external ventricular drain market is dominated by a number of key companies, who are analyzed in-depth through this study.
The report takes into account critical competitive information from all of the leading manufacturers of external ventricular drain systems, including their growth objectives, branding strategy, significant advancements, and R&D initiatives.
The study on the worldwide external ventricular drain market will take into account the participants and their contributions to the production process, sales, and marketing of external ventricular drain devices. The external ventricular drain market’s entire lineup of products would serve as the primary focus of this report’s product line section.
In line with that, the current emphasis of the business portfolio segment will be on the most recent commercial successes, including international expansion, acquisitions and mergers, strategic partnerships and alliances, and the introduction of fresh products in the external ventricular drain market.
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Increased cardiac strokes will boost External Ventricular Drain market growth:
Since a couple of years back, the frequency of strokes has nearly doubled in emerging countries. For instance, ischemic stroke is one of the leading causes of mortality in India and has a high incidence rate among a large population.
According to a 2016 study by the All India Institute of Medical Sciences (AIIMS), 1.8 million Indians get cerebrovascular strokes every. Additionally, 1.1 million people in Europe experience an ischemic stroke annually.
Therefore, a high prevalence of cerebrovascular issues may result in intraventricular bleeding (hemorrhage), and this necessitates the use of ventricular drain systems to get rid of the surplus cerebrospinal fluid. These factors are expected to have a large impact on the market expansion in coming future.
Global External Ventricular Drain Market Key Segments:
By Application
- Intracerebral Hemorrhage
- Subarachnoid Hemorrhage
- Traumatic Brain Injury
- Other Non-traumatic Hydrocephalus Conditions
By Geography
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Belgium
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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