GLOBAL EXTERNAL VENTRICULAR DRAIN MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global external ventricular drain market was valued US$ 6.89 Bn in 2023 and is expected to reach US$ 10.63 Bn by 2031 exhibiting a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.

Global External Ventricular Drain Market - Regional Insights

• North America is expected to be the largest market for external ventricular drain during the forecast period, accounting for over 43.7% of the market share in 2023. North America has emerged as the largest regional market for external ventricular drains globally. The region enjoys strong presence of leading med-tech companies which are engaged in manufacturing drainage devices and neurosurgical catheters. Advanced healthcare facilities and high incidence of neurological disorders in the region boost the demand for external ventricular drains. Growing acceptance of minimally invasive neurosurgical procedures and favorable reimbursement policies further support market growth. Manufacturers are able to attract higher prices in North America as compared to other regions owing to high purchasing power and brand loyalty among neurosurgeons.
• Asia Pacific is expected to be the second-largest market for external ventricular drain market, accounting for over 25.2% of the market share in 2023. Asia Pacific market is witnessing rapid expansion and poised to become the fastest growing external ventricular drain regional market in near future. Countries like China, India, and South Korea are witnessing rising healthcare expenditures and neurological disease burden which is driving the demand for neurological devices. At the same time, growing medical tourism industry in these nations has amplified the supplies of the external ventricular drain. Presence of emerging economies with improving access to healthcare and increasing focus of global market players to tap opportunities are some key factors fueling the market growth. Favorable foreign investment policies have encouraged global players to set up manufacturing bases and expand distribution networks in Asia Pacific to cater growing demand.

Figure 1. Global External Ventricular Drain Market Share (%), By Region, 2024

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Analyst’s Views:

Global external ventricular drain market continues to be driven by the rising incidence of neurological disorders such as traumatic brain injury, hemorrhage, and tumors. Growing geriatric population who are highly susceptible to such conditions also aids the market growth. Further, advancement in technology has enabled manufacturers to develop more effective and safer drainage systems which can be safely that are used for longer duration. This has increased the adoption of external ventricular drains among healthcare facilities globally.

However, risks associated with EVD placement including infection, hemorrhage, and malfunction requires highly skilled expertise which may limit the market expansion. Moreover, availability of alternate treatment options for certain conditions can hamper sales opportunities. High costs of these devices also restrict its access in low and middle-income countries.

North America dominated the market owing to higher healthcare expenditure and sizable patient population. Several leading global players are also based in the region. Within the region, the U.S, accounted for the major revenue share. Asia Pacific is expected to witness the fastest growth over the forecast period on back of rising medical tourism, increasing healthcare investments and growing disposable incomes in developing countries like China and India. Key market players are strengthening their presence in emerging markets through strategic collaborations with local suppliers.

Global External Ventricular Drain Market- Drivers

• Increasing prevalence of traumatic injuries: Rising incidence of traumatic brain injuries (TBIs) across the globe is one of the major factors fueling the demand for external ventricular drains. TBIs can occur due to car accidents, falls, assaults and other incidents. According to a study by the Center for Disease Control and Prevention (CDC), almost 3 million TBI-related emergency department visits, hospitalizations, and deaths occur in the U.S. each year. For instance, in March 2021, by Centers for Disease Control and Prevention, approximately 4.4 million people around the world each year suffer from traumatic injuries.
• Government funding: Government funding is playing a major role in driving the growth of the global external ventricular drain market. Governments across the world are increasingly allocating higher healthcare budgets to provide better treatment options and facilities for neurological disorders. With rising cases of brain injuries, brain tumors and strokes, the demand for efficient cerebrospinal fluid management procedures has increased significantly. For instance, in May 2023, UTHealth Houston, a comprehensive academic health university in Texas, U.S., announced that it has received nearly US$ 13 million in federal grant funds to study treatments for traumatic brain injury, which kills an average of 190 people and hospitalizes another 600 in the U.S. every day.

Global External Ventricular Drain Market- Opportunities

• Emerging markets in the Asia Pacific Region: The Asia Pacific region possesses immense potential to drive growth in the global external ventricular drain market over the next few years. With a population of over 4.6 billion people spread over diverse landscapes and cultures, the healthcare needs within Asia Pacific continue to rise exponentially. Several economies in Asia Pacific such as China, India, Indonesia, Thailand, and Vietnam are expected to witness tremendous medical equipment spending due to rising income levels, growing health awareness and expansion of public and private insurance coverage. This will create a huge demand for innovative neurosurgical devices such as external ventricular drains. Governments in the region have also implemented numerous policies to develop their healthcare infrastructure and strengthen medical technology capacities.

• Growing health expenditure globally: One of the key drivers propelling the growth of the global external ventricular drain market is the increasing incidence of traumatic brain injuries (TBIs) across the world. TBIs can occur due to falls, vehicular accidents, assaults, and recreational sporting activities, among other causes. The Centers for Disease Control and Prevention (CDC) also states that falls are responsible for over 50% of all TBIs in the U.S. alone. These alarming numbers are a matter of big concern since TBIs often lead to life-threatening conditions that require immediate medical intervention and intensive care.

Global External Ventricular Drain Market – Trends

• Rising adoption of temporary external ventricular drains: Rising adoption of temporary external ventricular drains is having a significant impact on the global external ventricular drain market. Temporary external ventricular drains are witnessing increasing usage as they provide an effective minimally-invasive solution for conditions that require cerebrospinal fluid drainage and ventricular decompression such as hydrocephalus, intraventricular hemorrhage, and traumatic brain injuries. More hospitals and healthcare facilities are opting for temporary external ventricular drains as they allow for rapid cerebrospinal fluid (CSF) drainage at the site of injury or blockage. With temporary external ventricular drains, patients do not require multiple invasive surgeries for ventricular catheter placement and do not need permanent ventriculoperitoneal (VP) shunt implantation. This has made temporary external ventricular drains a preferred treatment option for conditions requiring short-term CSF diversion. According to the report published by the United Nation's World Health Organization's, "The Lancet Commission on Global Surgery", in 2022, road traffic accidents and falls are among the leading causes of traumatic brain injuries worldwide which often require surgical intervention by using ventricular drainage devices. The report found that every year over 5 million people suffer traumatic brain injuries, with over 1 million patients needing neurosurgical procedures. Increasing incidence of traumatic brain injuries and the preference of healthcare professionals for temporary external ventricular drains over other ventricular diversion methods is fueling the adoption of temporary external ventricular drains globally.

Global External Ventricular Drain Market - Restraints

• Risk of post-surgery infections: The risk of post-surgery infections is one of the major factors restraining the growth of the global external ventricular drain market. Infections contracted during or after neurosurgery pose serious health risks to patients. Ventricular drains are essential medical devices that are used to drain cerebrospinal fluid (CSF) from the brain ventricles during and after neurosurgeries. However, these drains are also potential entry points for pathogens/bacteria to enter the brain ventricles and cause infections. For instance, in June 2023, according to data published by American Academy of Neurology, CSF leakage is considered a major risk factor for external ventricular drain (EVD) related infection.
• High cost of external ventricular drain: The high cost of external ventricular drain is significantly restraining the growth of global external ventricular drain market. External ventricular drains are life-saving medical devices used for serious conditions like brain hemorrhage, brain tumors, and head injuries to drain excess CSF (cerebrospinal fluid) from the brain. However, the significant cost burden that is associated with these devices is proving as a major roadblock. For instance, in March 2021, according to data published by Integra LifeSciences Corporation, cost of external ventricular drains replacements ranging from US$ 1,300 to US$ 3,200 per replacement.
• Counterbalance – Thus, key market players should focus on lowering the cost of external ventricular drain.

Figure 2. Global External Ventricular Drain Market Share (%), By Application, 2024

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Global External Ventricular Drain Market- Recent Developments

• In August 2022, Brain Navi Biotechnology, a surgical robotic company based in China, announced that NaoTrac, the Conformité Européenne (CE) certified neurosurgical navigation robot, achieved approval from Taiwan's Food and Drug Administration (TFDA) in July 2022, and is planned for submission to the U.S. Food and Drug Administration (USFDA) for clearance by the end of 2022. The NaoTrac human trials were performed at the reputable Hualien Tzu-Chi Medical Center, with the external ventricular drain (EVD).
• In October 2021, RAUMEDIC, a medical-technology company,announced the expansion of its manufacturing unit in Mills River, North Carolina, U.S.

Top Companies in the Global External Ventricular Drain Market

• Spiegelberg GmbH & Co. KG
• Medtronic
• Sophysa
• Neuromedex GmbH
• Integra LifeSciences
• Möller Medical GmbH
• Braun SE
• Fuji Systems

Definition: External ventricular drainage (EVD) is a temporary method of draining cerebrospinal fluid (CSF) from the ventricles in the brain. The brain and spinal cord are surrounded by CSF, which helps to protect them. The areas in the brain that contain this fluid are called ventricles.

External ventricular drainage (EVD) is a temporary method of draining cerebrospinal fluid (CSF) from the ventricles in the brain. The brain and spinal cord are surrounded by CSF, which helps to protect them. The areas in the brain that contain this fluid are called ventricles. The external ventricular drainage (EVD) system uses a catheter a thin, plastic tube, which is placed in the ventricle of the brain. This is connected to a drainage system outside the body.