External Ventricular Drain Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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External Ventricular Drain Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : January, 2023 | Medical Devices

Report Digest

External Ventricular Drain Market: Overview

The surging cases of neurological disorders and traumatic brain injuries are the key factors boosting the global external ventricular drain market growth. An EVD is a method of draining out cerebrospinal fluid or CSF out of the ventricles with the help of a thin tube. The other end of this tube is attached to a chamber in a bag out of the head. Although this method is temporary, it is still considered a feasible solution to revive back patients suffering from brain tumor or hemorrhage.  The increasing cases of road crash accidents, coupled with the rising cases of brain injuries will further help this market gain a competitive edge in the forecast period 2020-2029.

External Ventricular Drain Market is categorized on the basis of indication, and end user. In terms of indication, the market is grouped into posterior fossa tumor, cranial injuries, meningitis, subdural hematomas, cranial injuries, ventricular obstruction, IV and subarachnoid hemorrhage. Based on end user, the market is classified into nursing home, neurology hospitals, and others.

This report is based on a comprehensive overview of the market and its key components such as growth drivers, restraints, challenges, and upcoming opportunities. It also emphasizes on the key industry trends, regional in formation, and other interesting insights. The report also lists the names of vendors and the overall competitive landscape. This includes the strategies adopted by various companies such as merger and acquisition, collaboration, product launches, and others.

The report also analyses the COVID-19 pandemic and its aftereffects on the market during the forecast period 2020-2029.

External Ventricular Drain Market: Competitive Aspects

The entry of new players has led to an intense competition in the global external ventricular drain market. The increasing cases of traumatic injuries and neurological disorders have added boost to the market, thereby propelling more companies to indulge themselves in this market. Some of the prominent payers of this market include Johnson & Johnson Services, Integra Life Sciences Corporation, Medtronic, Sophysa, and Spiegelberg.

External Ventricular Drain Market: Key Trends

The rise in the number of brain tumor cases among children is expected to aid in expansion of the market in the coming years. The rise in geriatric population, coupled with the increasing adoption of Artificial Intelligence into healthcare and medical sciences is expected to promote the growth of the market.

External Ventricular Drain Market: Regional Prospects

Middle East and Africa Market to gain Momentum owing to Increasing Cases of Road Accidents and Trauma

The global external ventricular drain market is geographically categorized into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. These regions are further classified on the basis of nations. Among these, North America earned the largest external ventricular drain market share on account of the increasing cases of neurological disorders. This, coupled with the rapid technological advancements in surgical procedures has increased the percentage of success rates, thereby aiding to the regional market growth.

On the other side, the market in Asia Pacific is in close competition with North America. The rapid development of the healthcare and medical industry in countries such as India and China are factors responsible for the growth of this region. Furthermore, the market in the Middle East and Africa is expected to rise remarkably on account of the increasing cases of road accidents, and the growing expenditure on healthcare and medical services. The World Health Organization (WHO) registered a mortality rate of 26.6 deaths per 100,000 people in this region alone.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?