External Ventricular Drain Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of External Ventricular Drain Market in 2021?

The global external ventricular drain market is estimated to have reached a market size of USD 500 million in 2021. The market is expected to grow at a CAGR of 4.5% from 2021 to 2028. This growth can be attributed to the increasing prevalence of neurological disorders and traumatic brain injuries, which require the use of external ventricular drains for the management of cerebrospinal fluid.

COVID-19 Impact on the External Ventricular Drain Market

The COVID-19 pandemic had a significant impact on the external ventricular drain market. The pandemic led to disruptions in healthcare services, including the postponement of non-essential surgeries, which affected the demand for external ventricular drains. However, as healthcare services resume and the focus on critical care management increases, the market is expected to recover and witness growth in the coming years.

External Ventricular Drain Dynamics

The external ventricular drain market is driven by factors such as the increasing prevalence of neurological disorders, advancements in healthcare technology, and the growing geriatric population. The market is also influenced by factors like the rise in traumatic brain injuries, the demand for minimally invasive procedures, and the increasing healthcare expenditure globally.

Segments and Related Analysis

The external ventricular drain market can be segmented based on product type, application, end-user, and region. By product type, the market is segmented into ventricular catheters, drainage systems, and accessories. Based on application, the market is categorized into traumatic brain injury, intracerebral hemorrhage, hydrocephalus, and others. The end-users of external ventricular drains include hospitals, ambulatory surgical centers, and specialty clinics.

By Region Analysis

The external ventricular drain market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America currently leads the market due to the presence of advanced healthcare infrastructure, followed by Europe. The Asia Pacific region is expected to witness significant growth in the coming years due to the rising healthcare expenditure and increasing awareness about neurological disorders.

Key Market Players and Competitive Landscape

Key players in the external ventricular drain market include Medtronic, Integra LifeSciences, Sophysa, Raumedic, Spiegelberg, Dispomedica, MDD, Moog, and Spiegelberg. These players are focused on product innovation, strategic collaborations, and mergers and acquisitions to strengthen their market presence and gain a competitive edge.

Recent Happenings in the External Ventricular Drain Market

In recent developments, Medtronic launched a new external ventricular drain system with advanced features for better patient outcomes. Integra LifeSciences announced a strategic partnership with a leading neurosurgical organization to enhance the distribution of their external ventricular drain products. These developments signify the growing focus on innovation and collaboration in the external ventricular drain market.