NOIDA, INDIA, Dec. 8, 2022/PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the External Ventricular Drain Market was valued at USD 4 billion in 2020 and is expected to reach a CAGR of 7% from 2022-2028. The analysis has been segmented into Application (Traumatic Brain Injury, Intracranial Haemorrhage, Hydrocephalus, and Others); End-User (Hospitals, Ambulatory Surgical Centers, and Others); Region/Country.
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The External Ventricular Drain market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the External Ventricular Drain market. The External Ventricular Drain market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the External Ventricular Drain market at the global and regional levels.
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Market Overview
External ventricular drain is a temporary system that allows the drainage of cerebral spinal fluid from the ventricles to an external closed system. It is considered one of the lifesavings and most common procedures in the neurologic intensive care unit. The external ventricular drain market is expected to witness in the upcoming years owing to the growing geriatric population coupled with the rising burden of various neurological diseases across the globe. For instance, according to the WHO, neurological disorders ranging from epilepsy to Alzheimer's disease, from stroke to headache, affect up to 1 billion people worldwide. Also, an estimated 6.8 million people die every year as a result of neurological disorders.
The External Ventricular Drain Market is expected to grow at a steady rate of around 7% during the forecast period. 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.
Some of the major players operating in the market include 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.
COVID-19 Impact
The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. The global pandemic has impacted the healthcare industry due to social distancing measures imposed by the governments. The external ventricular drain market has been affected during these times owing to the worldwide lockdown restrictions and disruption in the supply chain.
The global external ventricular drain market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
- 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.
- 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.
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External Ventricular Drain Market Geographical Segmentation Includes:
- North America (United States, Canada, and the Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
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.
The major players targeting the market include
- 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
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the External Ventricular Drain Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the External Ventricular Drain market?
- Which factors are influencing the External Ventricular Drain market over the forecast period?
- What are the global challenges, threats, and risks in the External Ventricular Drain market?
- Which factors are propelling and restraining the External Ventricular Drain market?
- What are the demanding global regions of the External Ventricular Drain market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights (UMI)
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External Ventricular Drain Market Report Coverage
Report Attribute | Details |
Base year | 2021 |
Forecast period | 2022-2028 |
Growth momentum | Accelerate at a CAGR of 7% |
Market size 2020 | USD 4 billion |
Regional analysis | North America, Europe, APAC, Rest of World |
Major contributing region | North America to Dominate the Global External Ventricular Drain Market |
Key countries covered | United States, Canada, Germany, United Kingdom, Italy, France, China, Japan, India |
Companies profiled | 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. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Application; By End-User; By Region/Country |
About UnivDatos Market Insights (UMI)
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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