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External Ventricular Drain Market Size, Share, Industry Trends and Forecast to 2033

This report provides a comprehensive analysis of the External Ventricular Drain market for the forecast period from 2023 to 2033. It encompasses market size, growth trends, segmentation, regional insights, and leading players, offering valuable data for stakeholders and decision-makers.

Metric Value
Study Period 2023 - 2033
2023 Market Size $1.50 Billion
CAGR (2023-2033) 6.8%
2033 Market Size $2.95 Billion
Top Companies B. Braun Melsungen AG, Medtronic PLC, Abbott Laboratories, Johnson & Johnson
Last Modified Date 15 Nov 2024

External Ventricular Drain Market Report (2023 - 2033)

External Ventricular Drain Market Overview

The external ventricular drain industry is characterized by a diverse range of players, from established multinational corporations to specialized local manufacturers. The increasing prevalence of neurological disorders like traumatic brain injuries and stroke is a significant driver of market growth. Moreover, the continuous research and development efforts in the medical devices sector aim to enhance the functionality and safety of EVD systems. Regulatory approvals from health authorities, particularly in developed regions, pave the way for the rapid introduction of technologically advanced EVD solutions. However, challenges such as high costs associated with advanced devices and a shortage of trained professionals in specific regions may hinder market expansion.

What is the Market Size & CAGR of External Ventricular Drain market in 2023?

The External Ventricular Drain market size is projected to reach approximately $2.59 billion by 2033, with a compound annual growth rate (CAGR) of about 9.4% from 2023 to 2033. In 2023, the market size is expected to be around $1.19 billion. This growth can be attributed to several factors, including advancements in medical technology, increased awareness and diagnosis of neurological conditions, and an expanding geriatric population. As hospitals and healthcare facilities continue to adopt advanced drainage systems that integrate technological innovations, the market is likely to experience sustained demand.

External Ventricular Drain Industry Analysis

The external ventricular drain industry is characterized by a diverse range of players, from established multinational corporations to specialized local manufacturers. The increasing prevalence of neurological disorders like traumatic brain injuries and stroke is a significant driver of market growth. Moreover, the continuous research and development efforts in the medical devices sector aim to enhance the functionality and safety of EVD systems. Regulatory approvals from health authorities, particularly in developed regions, pave the way for the rapid introduction of technologically advanced EVD solutions. However, challenges such as high costs associated with advanced devices and a shortage of trained professionals in specific regions may hinder market expansion.

External Ventricular Drain Market Segmentation and Scope

The External Ventricular Drain market can be segmented based on product types, applications, and end-users. Product-wise, the market includes ventricular drainage systems and accessories. By application, it involves neurosurgery, trauma treatment, and the management of neurological disorders. End-users consist mainly of hospitals, outpatient surgical centers, and research institutes. Each segment plays a critical role in the overall market dynamics, with ventricular drainage systems accounting for the majority share due to their pivotal use in neurosurgical procedures.

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External Ventricular Drain Market Analysis Report by Region

Europe External Ventricular Drain Market Report:

The European market is poised to grow from $0.39 billion in 2023 to $0.77 billion by 2033, driven by the strong presence of key manufacturers and a robust healthcare system.

Asia Pacific External Ventricular Drain Market Report:

The Asia Pacific region is expected to exhibit significant growth, with a market size increasing from $0.29 billion in 2023 to $0.57 billion by 2033. The growing patient population and improvements in healthcare infrastructure are notable factors for this growth.

North America External Ventricular Drain Market Report:

North America is the dominant region in the EVD market, with a size of $0.55 billion in 2023 and projected to reach $1.09 billion by 2033. High healthcare spending, advanced medical technology, and the prevalence of brain injuries attribute to this region's growth.

South America External Ventricular Drain Market Report:

In South America, the External Ventricular Drain market is anticipated to grow from $0.08 billion in 2023 to $0.15 billion by 2033. This growth is supported by increasing healthcare expenditures and a rise in neurological ailments.

Middle East & Africa External Ventricular Drain Market Report:

The Middle East and Africa will see the market expand from $0.19 billion in 2023 to $0.37 billion by 2033, primarily due to increasing investments in healthcare and rising awareness about advanced treatment options.

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External Ventricular Drain Market Analysis By Product

Global External Ventricular Drain Market, By Product Market Analysis (2023 - 2033)

The EVD market, by product, is mainly divided into ventricular drainage systems and accessories. Ventricular drainage systems account for approximately 83.57% of the market in 2023, with a size of $1.25 billion anticipated to grow to $2.46 billion by 2033. Accessories make up the remaining segment, indicating their essential role in complete treatment protocols.

External Ventricular Drain Market Analysis By Application

Global External Ventricular Drain Market, By Application Market Analysis (2023 - 2033)

By application, the EVD market includes neurosurgery, trauma, neurological disorders, and others. Neurosurgery is the leading segment, comprising 53.91% share in 2023, expected to grow from $0.81 billion to $1.59 billion by 2033, reflecting the critical demand for these systems in advanced surgical procedures.

External Ventricular Drain Market Analysis By End User

Global External Ventricular Drain Market, By End-User Market Analysis (2023 - 2033)

In terms of end-users, hospitals dominate the market with a share of 60.09% in 2023, growing from $0.90 billion to $1.77 billion by 2033 due to their integral role in patient surgeries and intensive care.

External Ventricular Drain Market Analysis By Region

Global External Ventricular Drain Market, By Region Market Analysis (2023 - 2033)

Regional analysis shows strong variances in market growth, with North America leading overall EVD usage, followed closely by Europe. Emerging markets in Asia-Pacific and Latin America are also expected to reflect substantial growth by enhancing healthcare facilities.

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Global Market Leaders and Top Companies in External Ventricular Drain Industry

B. Braun Melsungen AG:

A leading global manufacturer of precision medical devices, B. Braun specializes in innovative solutions for managing cranial pressure, thereby enhancing patient safety and treatment outcomes.

Medtronic PLC:

Medtronic is recognized for its advanced neurosurgery technologies, including EVD systems that are pivotal in cranial surgery procedures, aiming for technological innovations and superior patient care.

Abbott Laboratories:

Abbott develops and delivers innovative healthcare solutions, including devices for effective cerebrospinal fluid management, contributing significantly to the EVD market.

Johnson & Johnson:

Known for a wide range of healthcare products, Johnson & Johnson focuses on improving surgical outcomes with its compliant and effective EVD systems.

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