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The ventricular drainage devices market size is forecast to increase by USD 217.5 million and is estimated to grow at a CAGR of 7.09% between 2023 and 2028. The neurotechnology market is experiencing significant growth due to the increasing prevalence of brain surgeries and neurological disorders. This sector is witnessing an influx of innovative products and solutions, with numerous companies launching new neurotechnologies. Neurotechnology refers to the application of technology to understand, treat, or enhance the brain and nervous system. This includes devices for brain-computer interfaces, neurostimulation, functional magnetic resonance imaging (fMRI), and electroencephalography (EEG). These technologies are revolutionizing healthcare, enabling earlier and more accurate diagnoses, and offering new treatment options for neurological conditions. The market is expected to continue growing, driven by advances in neuroscience research, increasing funding for neurotechnology research, and the rising number of neurological disorders.
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Ventricular drainage devices are medical devices used to remove cerebrospinal fluid from the ventricular system of the brain. These devices are commonly used in managing various neurological disorders such as traumatic brain injuries, hemorrhage, tumors, and neurovascular stroke. The global market is driven by the increasing patient population suffering from these conditions, especially in the geriatric population. Neurosurgeons in healthcare facilities use these devices to alleviate intracranial pressure and improve patient outcomes. Reimbursement policies and medical tourism also influence the market's growth. However, the risk of infection and malfunction can lead to alternate treatment options. Technology advancement in ventricular drainage devices, such as programmable drainage rates and remote monitoring systems, is expected to boost market growth. Brain injuries, including traumatic brain injuries and neurovascular stroke caused by blocked blood vessels, contribute significantly to the stroke burden. The Stroke Forum emphasizes the importance of timely intervention and effective treatment methods, making ventricular drainage devices a crucial tool in managing these conditions. In conclusion, the market is poised for growth due to the increasing patient population, technology advancements, and reimbursement policies. However, the risk of infection and malfunction necessitates highly skilled expertise in their use. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing prevalence of brain surgeries is notably driving market growth. The demand for ventricular drainage devices is on the rise due to the increasing number of traumatic brain injuries (TBIs), particularly from vehicle accidents. According to the Centers for Disease Control and Prevention (CDC), approximately 2 million people are injured in motor vehicle crashes annually in the US.
Moreover, factors such as drunk driving and high speeds contribute significantly to this statistic. Moreover, the prevalence of chronic conditions like Alzheimer's and osteoporosis increases the likelihood of TBIs. In the pediatric segment, the incidence of TBIs is increasing due to sports and outdoor activities. Thus, such factors are driving the growth of the market during the forecast period.
Growing neurology specialty hospitals and clinics is the key trend in the market. Hospitals, governments, and private organizations are investing significantly in the establishment and expansion of neurology facilities to cater to the growing number of patients requiring advanced neurological care. Brain injuries, often caused by vehicle accidents and military conflicts, lead to an increased need for brain surgeries. Consequently, hospitals are setting up specialized brain injury rehabilitation centers, such as the Barrow Neurological Institute's Center for Transitional Neuro-Rehabilitation.
Moreover, this center offers intensive day programs for older adolescents and adults to help them regain skills for work, school, or community reintegration after brain surgery. Furthermore, it provides outpatient rehabilitation and evaluation and treatment for patients diagnosed with mild traumatic brain injury or post-concussion impairments. Thus, such trends will shape the growth of the market during the forecast period.
High costs associated with brain surgeries is the major challenge that affects the growth of the market. The global market for ventricular drainage devices caters to the requirement of advanced medical equipment in the treatment of brain injuries, surgeries, and disorders. Brain surgeries and related procedures, including those resulting from vehicle accidents or experienced by military personnel, require specialized expertise and infrastructure.
Moreover, the adult and pediatric segments of this market witness significant demand due to the prevalence of conditions such as brain tumors, multiple sclerosis, Parkinson's disease, and spinal cord injuries. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, 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 growth analysis strategies.
Customer Landscape
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.
B.Braun SE: The company offers ventricular drainage devices that are implanted in order to drain the excess cerebrospinal fluid to other parts of the body.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
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.
The ventricular drainage accessories segment is estimated to witness significant growth during the forecast period. Ventricular drainage devices, comprising ventricular catheters, evacuating port systems, drainage bags, rods, connectors, and watertight caps, are essential accessories in managing neurological disorders such as traumatic brain injury (TBI), hemorrhage, tumors, and hydrocephalus.
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The ventricular drainage accessories segment was the largest segment and valued at USD 291 million in 2018. Neurosurgeons utilize these devices for ventricular decompression during surgical procedures to alleviate intracranial pressure (ICP). In the context of healthcare facilities, reimbursement policies significantly impact market growth. Vendors are innovating to address challenges such as infection and malfunction, which require highly skilled expertise. Alternate treatment options, including medical tourism, are gaining traction, particularly for conditions like brain injuries, brain tumors, strokes, and cerebrovascular disorders. Hence, such factors are fuelling the growth of this segment during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Ventricular drainage devices are essential medical tools used in managing various neurological disorders, including traumatic brain injuries, hemorrhage, tumors, and hydrocephalus. These devices consist of neurosurgical catheters, plastic tubes, and drainage systems, which help in the removal of cerebrospinal fluid (CSF) to alleviate intracranial pressure (ICP) in patients. Neurosurgeons frequently use these devices in healthcare facilities to treat conditions such as intraventricular hemorrhage, intracranial bleeding, and ventricular decompression post-surgery. Hence, such factors are driving the market in North America during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Ventricular drainage devices are medical devices used to remove cerebrospinal fluid (CSF) from the ventricular system of the brain. These devices are commonly used in managing various neurological conditions such as traumatic brain injuries, hemorrhage, tumors, and hydrocephalus. Neurosurgeons frequently use ventricular drainage devices during neurosurgeries to relieve intracranial pressure (ICP) and prevent complications like post-surgery infections. The global market for ventricular drainage devices is driven by the increasing prevalence of neurological disorders, including brain injuries, brain tumors, strokes, and cerebrovascular disorders. According to the World Health Organization, approximately 50 million people worldwide have dementia, a major cause of strokes and other neurological conditions. Moreover, the geriatric population is at a higher risk of developing neurological disorders due to age-related degenerative changes in the brain. Technology advancements in ventricular drainage devices have led to the development of more effective and safer devices. For instance, the use of catheters made of biocompatible materials has reduced the risk of infection and malfunction.
However, the high cost of these devices and the need for highly skilled expertise for their installation and management are major challenges limiting market growth. Alternate treatment options, such as endoscopic third ventriculostomy and shunt systems, pose a significant threat to the market. Medical tourism and reimbursement policies also influence the market dynamics. Infection and malfunction are common complications associated with ventricular drainage devices, which can lead to adverse patient outcomes and increased healthcare costs. In conclusion, the market is expected to grow significantly due to the increasing burden of neurological disorders, especially in the aging population. The market is driven by the need for effective and safe devices for managing intracranial pressure and preventing complications. However, challenges such as high costs, alternate treatment options, and complications need to be addressed to ensure the sustainable growth of the market.
The market is pivotal in minimally invasive neurosurgical procedures, addressing the need for temporary external ventricular drains to manage conditions like ischemic stroke and intraventricular bleeding. These devices, including catheters and plastic tubes, are essential in reducing post-surgery infections and facilitating effective drainage systems. The market landscape depends on Plastic tube, Drainage system, Road accidents, Incidence rate of strokes, and Vehicle injuries. Health awareness initiatives contribute to increased demand, particularly in cases of cranial injuries resulting from road and vehicle accidents. The market caters to the adult segment with a focus on natural appearance and aesthetics. Strategic collaborations drive innovation and market expansion, aiming to address the rising incidence rates of strokes and bleeding into the brain through advanced external ventricular drainage (EVD) solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
138 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.09% |
Market growth 2024-2028 |
USD 217.5 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.5 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
US, Germany, China, Canada, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Acandis GmbH, B.Braun SE, BIOMEDICA ITALIA S.R.L., Calon Cardio Technology Ltd., Delta, Desu Medical, Fuji Systems Co. Ltd., Integra Lifesciences Corp., IRRAS AB, LivaNova PLC, Medtronic Plc, Moller Medical GmbH, Natus Medical Inc., Neuromedex GmbH, Salvavidas Pharmaceutical Pvt. Ltd., Silmag, Sophysa, Spiegelberg GmbH and Co. KG, Wellona Pharma, and Yushin Medical Co. Ltd. |
Market dynamics |
Parent market analysis, market report, market forecast, 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 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. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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