April 22, 2024
Global External Ventricular Drain Market

The Global External Ventricular Drain Market Demand Is Driven By Technological Advancements

CSF drains through the EVD into a collection system and then into the lining of the abdomen where it is reabsorbed. EVDs ensure that pressure stays stable and prevents dangerous buildup. Main advantages of EVDs are monitoring of CSF removal and intracranial pressure alongside delivery of therapeutic drugs to the brain. Rise in neurological disorders such as traumatic brain injuries, brain tumors and hydrocephalus has augmented the need for EVDs.

The Global External Ventricular Drain Market is estimated to be valued at US$ 6.89 BN in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024 to 2031.

Key Takeaways
Key players- Key players Spiegelberg GmbH & Co. KG, Medtronic, Sophysa, Neuromedex GmbH, Integra LifeSciences, Möller Medical GmbH, B. Braun SE and Fuji Systems dominate over 80% of global external ventricular drain market share.
Growing demand- Rising prevalence of neurological disorders and increasing demand for minimally invasive surgeries have fueled the demand for external ventricular drains over the years.
Global expansion- Key players are expanding their distribution networks and manufacturing facilities globally especially in emerging countries of Asia Pacific and Latin America to tap the higher growth opportunities.

Market key trends
One of the key trends in the Global External Ventricular Drain Market Size is the introduction of advanced technologies. Key players are focusing on development of advanced EVDs incorporated with features such as smaller size, better programmability, sensor technology and adjustable shunt mechanisms. This has increased preference for technologically advanced EVDs among neurosurgeons.

Porter’s Analysis
Threat of new entrants: External ventricular drain market requires considerable investment in R&D for product development which limits threat of new entrants.

Bargaining power of buyers: Buyers have moderate bargaining power as external ventricular drains are essential medical devices and alternative treatment options are limited.

Bargaining power of suppliers: Suppliers have moderate to high bargaining power as raw materials used in EVDS are specialized which limits choice for buyers.

Threat of new substitutes: There exists limited threat from new substitutes as external ventricular drains provide direct drainage of cerebrospinal fluid from ventricles making alternative treatment difficult.

Competitive rivalry: The external ventricular drain market is consolidated with key global players capturing majority share. Intense competition exists among players based on product innovation, quality and pricing.

The global external ventricular drain market value is majorly concentrated in North America. The region accounts for substantial share owing to growing prevalence of neurological disorders, increasing trauma & accident cases and presence of advanced healthcare infrastructure. Asia Pacific region is expected to witness fastest growth over forecast period owing to large patient population, rising healthcare spending, increasing awareness regarding EVD procedures. China and India offer lucrative opportunities for market players.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it