Acute External Ventricular Drain Market to Grow with a CAGR of 7.21% through 2028

Rising incidence of neurological disorders and increasing healthcare expenditure are factors driving the Global Acute External Ventricular Drain Market in the forecast period 2024-2028.

According to TechSci Research report, “Acute External Ventricular Drain Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Acute External Ventricular Drain Market stood at USD 225.41 million in 2022 and is anticipated to grow with a CAGR of 7.21% in the forecast period, 2024-2028. The global healthcare industry is witnessing continuous advancements in medical technology and treatment modalities. One such area of healthcare that has seen significant progress is neurosurgery, particularly in the management of patients with neurological disorders. The Acute External Ventricular Drain (EVD) market is a prime example of this progress. EVDs are crucial devices used in neurosurgical procedures to monitor and manage intracranial pressure (ICP) and cerebrospinal fluid (CSF) drainage.

Advancements in neurosurgical techniques have led to increased adoption of EVDs. Neurosurgeons are now better equipped to perform minimally invasive procedures, which has made the insertion of EVDs safer and more efficient. These advancements have reduced patient morbidity and improved outcomes, driving the demand for EVDs in the global market.

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The global population is aging rapidly, and elderly individuals are more susceptible to neurological disorders, such as Alzheimer's disease and Parkinson's disease, which often require neurosurgical interventions. As the aging population grows, the demand for EVDs is expected to rise since they are essential tools in managing various neurological conditions that affect older adults.

Governments and healthcare organizations worldwide are increasing their healthcare budgets to meet the growing demand for healthcare services. This includes investments in advanced medical devices like EVDs. The availability of financial resources has made it possible for hospitals and healthcare facilities to upgrade their neurosurgical equipment and offer the latest treatment options to patients.

The increasing awareness of neurological disorders and their treatment options among healthcare professionals and the general public has driven the demand for EVDs. Healthcare providers are more inclined to recommend EVDs as part of comprehensive treatment strategies, while patients and their families are better informed about the benefits of these devices in neurosurgical procedures.

The Global Acute External Ventricular Drain Market is segmented into Application, Patient Type and company.

Based on patient type, the adult patient type segment has emerged as the predominant market leader. Adults often have chronic medical conditions like hypertension, diabetes, and cardiovascular disease, which can increase the risk of neurological complications that may require EVD placement for monitoring and treatment. Advancements in EVD technology have made them more suitable and effective for adult patients. The development of minimally invasive techniques and improved EVD materials has made the procedure safer and more accessible to adult patients. The healthcare industry tends to allocate more resources and research efforts towards adult medical conditions, leading to a better understanding of adult neurological disorders and the development of tailored treatments like EVDs.

Based on region, North America segment is expected to grow during the forecast period. North America has a large population with diverse healthcare needs, including the treatment of neurological conditions that may require EVDs. The size of the market and the prevalence of certain medical conditions contribute to the region's dominance in the global medical device market, including EVDs. North American companies often have well-established distribution networks and marketing strategies, both domestically and internationally. This allows them to effectively reach healthcare providers and institutions worldwide, making their products more widely available.

The Asia Pacific region is experiencing rapid market growth. The Asia Pacific tends to have higher healthcare spending per capita compared to many other regions, which can contribute to greater investment in advanced medical technologies like EVDs.

Major companies operating in Global Acute External Ventricular Drain Market are:

• Medtronic plc
• Integra LifeSciences Corporation
• Natus Medical Incorporated
• Fuji Systems Corporation
• Spiegelberg GmbH
• SOPHYSA inc.
• Neuromedex inc.

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“The Global Acute External Ventricular Drain Market is poised for continued growth due to a combination of factors, including the rising incidence of neurological disorders, advancements in neurosurgical techniques, an aging population, technological innovations, increased healthcare expenditure, growing awareness, and expanding healthcare infrastructure in emerging markets. As healthcare systems worldwide continue to evolve, EVDs will remain a vital tool in the diagnosis and treatment of neurological conditions, driving the market's expansion and providing improved patient outcomes.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Acute External Ventricular Drain Market By Application (Traumatic Brain Injury (TBI), Subarachnoid Hemorrhage, Intracerebral Hemorrhage, Others), By Patient Type (Pediatric, Adult), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Acute External Ventricular Drain Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Acute External Ventricular Drain Market.

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