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The global external ventricular drain (EVD) market size is estimated to grow by USD 2.28 billion, at a CAGR of 6.07% between 2023 and 2028.
With increasing age, the human body tends to lose its immunity and self-healing power, which makes it more susceptible to various chronic indications like diabetes, orthopedic disorders, Alzheimer's disease, PD, and gastrointestinal issues, along with the population of the elderly increasing particularly, the number of people with neurological disorders is even on the rise. This has seen strong demand for diagnosis, assistance, maintenance, and treatment-related equipment like external ventricular drains. According to The World Bank Group, the world's geriatric population (aged above 65 years) is expected to double nearly by 2050. Consequently, the significant rise in the aging population is likely to drive the adoption of external ventricular drain, which will thereby contribute to the drive market growth during the forecast period.
Technavio has segmented the market into Product, Application, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our market analysis and report examines historical data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the EVD system segment will be significant during the forecast period. An external ventricular drainage (EVD) system consists of a patient line with a stopcock, an anti-reflux valve and a sampling port, a graduated cylinder, a sampling port, a drainage tube, T-connectors or stopcock assembly, an extension line, a drainage bag, and a ruler. Due to the growing competitive environment of the global external ventricular drain market, companies are developing EVD systems.
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The EVD system segment was valued at USD 2.88 billion in 2018. Market players are integrating ICP-monitoring devices with EVD systems to increase the adoption of their systems and ease the process of draining out the CSF for the treatment of neurological disorders in adults and pediatric patients. Thus, such factors are expected to increase the use of EVD systems for the treatment of neurological disorders and the treatment of road accident injuries, which, in turn, are expected to drive the growth of the EVD system segment of the global external ventricular drain (EVD) market during the forecast period.
Traumatic brain injury (TBI) is a condition that occurs when the brain is unexpectedly damaged as a result of trauma, accidents, assaults, or sports injuries. TBI can result from a substantial injury sustained after a traumatic accident or impact on a specific area of the brain. Signs include confusion, foggy or blurred vision, speech difficulties, dizziness, and/or loss of consciousness. Furthermore, TBI assessment and management devices are medical gadgets that are used to examine and treat the illness. Since this is the largest segment of the external ventricular drain market, it is expected to grow during the forecast period.
Non-traumatic hydrocephalus conditions arise owing to the reabsorption of cerebrospinal fluid (CSF) into the bloodstream when impaired, resulting in increased CSF pressure and widened ventricles. CSF management devices like external ventricular drains are used for the treatment of patients with hydrocephalus conditions to prevent the abnormal accumulation of CSF in the brain. External ventricular drain diverts the flow of the CSF from ventricles to other body cavities, such as the peritoneum, the pleural space, and the right atrium. Furthermore, manufacturers and researchers are developing devices using advanced materials that have better biocompatibility. Thus, such factors will boost the growth of the other non-traumatic hydrocephalus conditions segment of the external ventricular drain market during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. In North America, the external ventricular drain market is expected to increase at a rapid pace owing to the growing incidence of neurological illnesses, the rising geriatric population (aging), and technological advancements. Ischemic strokes are one type of stroke that is driving the industry forward.
Furthermore, hydrocephalus is also treated using external ventricular devices. It is used to drain contaminated cerebrospinal fluid and to treat patients with serious head injuries by providing a way to measure intracranial pressure as well as allowing cerebrospinal fluid drainage to treat elevated intracranial pressure. Hence, such factors are expected to drive external ventricular drain market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
Fuji Systems: The company offers external ventricular drain system with Fuji ventricular drainage tube and ventricular drainage set II bag.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth and forecasting. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The rise in number of people suffering from neurological disorders is the key factor driving market growth. The majority of neurological disorders like brain tumors, brain stroke, epilepsy, brain aneurysms, sleep apnea, MS, and PD, which are associated with the central and peripheral nervous systems, are greatly increasing across the globe. They are either compelled owing to congenital defects in genes or chromosomal abnormalities. The symptoms of neurological disorders include seizures, pain, paralysis, muscle weakness, and neurological instability.
Moreover, the prevalence rate of neurological disorders is higher in people with diabetes mellitus, obesity, high blood pressure, and hypertension, and people addicted to smoking; the number of such people is also increasing significantly. Thus, the increasing prevalence of neurological disorders will increase the demand for diagnostic treatment, which, in turn, will drive the growth of the global external ventricular drain market during the forecast period.
Increasing funding for neurology research is one of the primary trends shaping market growth. The government and healthcare organizations are significantly raising funding for neurology research due to the increasing number of neurological disorders which is one of the market trends and analysis. For example, in March 2023, the government of Canada announced a USD 38.3 million research investment to support brain health. Similarly, the National Institute of Health Research, the largest funder of healthcare research, spent USD 1.6 billion in 2021 to support 254 research studies and training on neurological disorders.
In addition, an increase in funding assists researchers and manufacturers engaged in the development and launch of novel advanced neurology devices to offer improved diagnostic devices and treatment to patients with neurological disorders. Therefore, the increased funding for neurology is anticipated to drive market growth during the forecast period.
Uncertain time and duration of external ventricular drain treatment is a challenge that affects market growth. External ventricular drain victims may undergo health issues that last a few days or for the rest of their lives, depending on the severity of the damage. A person with mild damage or concussion, for instance, may have short-term symptoms and feel better within a few weeks or months. A person who has moderate or severe damage may have long-term or life-long effects as a result of the damage.
Moreover, following a medical check-up, most patients with moderate damage or concussion may recover safely at home. People who have had moderate or severe damage may require continued treatment to aid in their rehabilitation. Thus, such factors are expected to impede the growth of the global external ventricular drain market during the forecast period.
The market report includes the adoption lifecycle of the market forecast, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market research and growth strategies.
Global External Ventricular Drain Market Customer Landscape
The external ventricular drain market report forecasts market growth analysis by revenue at global, regional & country levels and provides an analysis of the latest market growth and trends from 2018 to 2028.
External Ventricular Drain Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.07% |
Market Growth 2024-2028 |
USD 2.28 billion |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
5.86 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Fuji Systems, Integra Lifesciences Corp., Koc Holding AS, Luciole Medical AG, Medtronic Plc, Moller Medical GmbH, Natus Medical Inc., Neuromedex GmbH, Sophysa, and Salvavidas |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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