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