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

Market Challenges And Opportunities

• 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 - 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.