Global External Ventricular Drain Market: Overview
The global external ventricular drain market is being driven by an increase in the prevalence of neurological diseases and a rise in the number of vehicle accidents resulting in traumatic brain injuries. Other key factors contributing towards expansion of the global external ventricular drain market include increased acceptance of technologically sophisticated goods and growing research and development efforts.
As per the World Health Organization, ischemic stroke is the second most major reason of death and the third most prevalent cause of disability worldwide, with 60 to 80% of all strokes being ischemic. This happens when blood arteries in the brain get clogged, limiting blood flow to the brain, or when a weaker blood artery breaks and spills into the adjacent brain area.
The incidence rate of strokes has more than doubled in the past four years, mostly in middle- and low-income nations. Ischemic stroke, for example, is highly common in India and is one of the major causes of mortality. As per a research published in 2016 by the All India Institute of Medical Sciences (AIIMS), 1.8 million Indians die from cerebrovascular stroke each year.
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Transparency market research offers a comprehensive understanding of the global external ventricular drain market through this report. It offers well-researched data on various facets of the market to offer valuable business input for profit generation.
Global External Ventricular Drain Market: Notable Developments
In January 2019, Medtronic plc paid around US$ 1.7 Bn for Mazor Robotics, an Israeli firm. Mazor Robotics will join Medtronic’s Neurosurgery division, which will become a part of the Brain Therapies division of Restorative Therapies Group.
The noted players that are operational in the global external ventricular drain market are Möller Medical GmbH, B. Braun Melsungen AG, Integra LifeSciences, Dispomedica GmbH, Medtronic plc, and Spiegelberg GmbH & Co. KG.
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Global External Ventricular Drain Market: Key Trends
Below-mentioned market trends and opportunities mark the global external ventricular drain market:
Rise in Sports Accidents and Head Traumas to Pave Way for Growth of the Market
In the forthcoming years, the rising recurrence and prevalence of hydrocephalus and traumatic brain injury are anticipated to be the key factors likely to drive growth of the global external ventricular drain market in the years to come. The rise in the frequency of brain operations amongst youngsters is also propelling the external ventricular drain market forward. The use of computer-assisted navigation in external ventricular drains has improved a variety of neurosurgery operations by combining patient anatomy and imaging.
Furthermore, the growing prevalence of cranial injuries and trauma throughout the world is a major driver for the global external ventricular drain market. The most prevalent causes of head trauma and cranial injuries include sports injuries, car accidents, and falls. Thousands of people are hospitalized and permanently disabled as a result of this each year. Following a head injury, increased intracranial pressure (ICP) is thought to have a negative effect, with a fatality rate of about 20%. As a result, constant intracranial pressure monitoring is critical for tracking the development of brain damage. Vehicle injuries are expected to be the ninth greatest cause of mortality globally, according to the WHO.
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Global External Ventricular Drain Market: Geographical Analysis
With a huge market share, North America is likely to lead the global external ventricular drain market. This is due to a higher rate of traumatic brain injuries and a higher prevalence of neurovascular diseases. According to the Centers for Disease Control and Prevention, stroke is the sixth greatest cause of death in the US, killing over 140,000 people each year.
Rapid technical advances, as well as the existence of major medical equipment firms like Integra LifeSciences and Medtronic plc are all contributing towards the expansion of the external ventricular drain market in North America. As a result, the external ventricular drains market in the region is being driven by the rising frequency of neurovascular diseases and brain traumas, as well as increased awareness amongst individuals regarding related conditions and treatment.
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