by External ventricular drains are hollow catheters placed into the ventricles of the brain to drain excess cerebrospinal fluid (CSF). They help in reducing dangerous pressure caused due to accumulation of CSF and blood in the brain. These drains are majorly used during the treatment of traumatic brain injuries, aneurysms, intracerebral hemorrhage and hydrocephalus. Advantages of using external ventricular drains include reduction of intracranial pressure, proper CSF circulation, minimally invasive procedure and faster recovery.
The Global External Ventricular Drain Market is estimated to be valued at US$ 10.63 Bn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.
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.
The Global External Ventricular Drain Market Demand is witnessing growing demand mainly due to rising prevalence of brain related disorders like aneurysms, hemorrhages, brain tumors and injuries. According to WHO, around 18 million new cancer cases are reported globally each year, out of which over 250,000 cases are of brain and central nervous system tumors.
Geographical expansion with recent strategic collaborations and partnerships is helping key players to penetrate developing markets of Asia Pacific and Latin America. For instance, in 2021 Spiegelberg GmbH partnered with distributor Access Scientific to strengthen its presence in US market.
Market Key Trends
The Global External Ventricular Drain Market is witnessing rising demand driven by increasing prevalence of brain tumors globally. As per the latest Brain Tumor Charity report, over 16,000 new primary brain tumor cases are diagnosed annually in the UK alone. Moreover, brain metastases are now more common than primary brain tumors. Greater public awareness, advanced diagnostic techniques and aging population are some other factors fueling the disease burden. This is presenting lucrative opportunities for vendors in the external ventricular drain market.
Porter’s Analysis
Threat of new entrants: Low cost of manufacturing new ventriculostomy catheters. However, established brands and regulations pose entry barriers.
Bargaining power of buyers: Large customer base of hospitals and neurosurgery departments gives buyers higher bargaining power.
Bargaining power of suppliers: Major suppliers control key materials like silicone and medical grade polymers. This gives them strong influence over pricing.
Threat of new substitutes: Few alternative drainage options exist but none match external ventricular drain’s efficacy in emergency situations.
Competitive rivalry: Intense competition between large multinational companies. Innovation in material, design and safety features is high.
Geographical Regions
North America accounts for the largest share of the external ventricular drain market value due to high prevalence of neurological disorders and availability of advanced healthcare facilities.
Asia Pacific region is expected to witness the fastest CAGR growth during the forecast period. This is attributed to increasing healthcare expenditures, rising geriatric population, growing medical tourism and expanding private sector in China and India.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
