The Global External Ventricular Drain Market comprises drainage systems and accessories that are used to drain out cerebrospinal fluid from ventricles of brain to monitor intracranial pressure changes. External ventricular drainage helps in removal of excess fluids from the brain during hemorrhage and reduces chances of neurological damage from raised intracranial pressure. These ventricular drains are placed inside the brain ventricles through small burr holes to drain out excess cerebrospinal fluid.
The Global External Ventricular Drain Market is estimated to be valued at US$ 6.89 BN in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 To 2031.
Market key trends
One of the major trends in the Global External Ventricular Drain Market Size is the growing adoption of antimicrobial hydrogel coatings on ventricular drains. The hydrogel coating helps prevent catheter-related infections by imparting a barrier against microbial adhesion and biofilm formation on device surfaces. This innovative coating technology is gaining prominence as it reduces the risk of ventriculitis and other neurological infections in external ventricular drainage procedures.
Key Takeaways
Key players operating in the Global External Ventricular Drain Market are Spiegelberg GmbH & Co. KG, Medtronic, Sophysa, Neuromedex GmbH, Integra LifeSciences, Möller Medical GmbH, B. Braun SE and Fuji Systems. These leading players are focusing on new product launches and expansions to increase their market share.
The growing prevalence of neurological diseases such as traumatic brain injury, aneurysm, and hemorrhage has increased the demand for external ventricular drainage procedures. According to WHO, nearly 50 million people suffer from epilepsy worldwide which is expected to drive the demand for effective neurological care.
The major players are expanding their geographical presence in developing regions of Asia Pacific and Latin America to tap the growth opportunities offered by increasing healthcare infrastructure and expenditure. New product approvals and strategic collaborations are helping key players to strengthen their global foothold.
Porter’s Analysis
Threat of new entrants: Low capital requirements and access to third party manufacturers provide potential for new entrants. However, stringent regulatory approvals and established brand loyalty act as deterrents.
Bargaining power of buyers: Rising healthcare costs and focus on reducing hospital stay has increased bargaining power of hospitals and other healthcare facilities.
Bargaining power of suppliers: Presence of large multinational manufacturers with sufficient production capacities limits the bargaining power of suppliers of raw materials and components.
Threat of new substitutes: Development of novel technologies like CSF shunts and endoscopic third ventriculostomy procedures pose limited threat currently due to higher costs and invasiveness.
Competitive rivalry: Market features major players like Medtronic and Integra occupying majority share. However, fragmentation and differing product portfolios mitigate intense competition.
Geographical Regions
North America dominates the global external ventricular drain market currently with a value share of over 35% owing to high healthcare spending and adoption of technologically advanced devices.
Asia Pacific is poised to emerge as the fastest growing regional market during the forecast period on account of expanding medical tourism industry, rising healthcare budgets and increasing incidence of brain injuries and neurological disorders.
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