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External Ventricular Drain Market: Current Analysis and Forecast (2022-2028)
Emphasis on Application (Traumatic Brain Injury, Intracranial Haemorrhage, Hydrocephalus, and Others); End-User (Hospitals, Ambulatory Surgical Centers and Others); and Region/Country
Global External Ventricular Drain Market is expected to grow at a significant rate of around 7% during the forecast period. The global external ventricular drain market is anticipated to witness an uptick owing to the growing prevalence of various neurological disorders and the rise in traumatic brain injuries due to an increase in the number of road accidents across the world. For instance, According to the World Health Organization, approximately 1.3 million people die every year as a result of road traffic crashes. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability as a result of their injury. Also, as per the United Nations data, in February 2021, nearly 1 in 6 of the world’s population, suffer from neurological disorders, such as Alzheimer’s and Parkinson’s disease, strokes, etc. Furthermore, rapid technological advancement, rising research and development activities and an increasing need for minimally invasive or non-invasive neurosurgeries to reduce trauma and improve patient outcomes are also some of the factors contributing to the growth of the external ventricular drain market across the globe.
Medtronic Plc, Spiegelberg Gmbh & Co. Kg, Moller Medical Gmbh, Braun Melsungen Ag, Integra Life Sciences Corporation, Pfizer Inc., Cadila Pharmaceuticals, Sophysa, Fuji Systems, Geistlich Pharma Inc are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new and innovative products.
Insights Presented in the Report
“Amongst application, traumatic brain injury category to witness higher CAGR during the forecast period”
Based on the application, the external ventricular drain market is segmented into traumatic brain injury, intracranial haemorrhage, hydrocephalus, and others. The traumatic brain injury segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe owing to an increase in the number of road accidents leading to rise in the prevalence of traumatic brain injuries. However, the hydrocephalus segment is also expected to grow considerably during the forecast period as it affects a large number of people globally.
“Amongst end-user, the hospitals segment to hold a significant share in the market in 2020”
Based on end-user, the market is fragmented into hospitals, ambulatory surgical centers and others. The hospitals segment is expected to grab a considerable market share in 2020 and is expected to grow with a lucrative CAGR during the forecast period. This can be due to an increased preference for patients to get treatment in hospitals owing to the presence of skilled healthcare professionals, availability of technologically advanced equipment, and a well-established infrastructure.
“North America to hold a significant share in the market”
North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure, high incidences of traumatic brain injuries and a growing prevalence of neurovascular disorders in the region. For instance, as per the CDC, stroke is the fifth leading cause of death and over 140,000 people are killed due to cerebrovascular stroke each year in the U.S. Furthermore, rapid technological advancements and the presence of major medical equipment companies are also contributing towards the growth of the market for the external ventricular drain in the region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
Customization Options:
The global external ventricular drain market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
Table of Content
Research Methodology for the External Ventricular Drain Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global external ventricular drain market were the three major steps undertaken to create and analyze the adoption of external ventricular drain in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global external ventricular drain market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the external ventricular drain market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the external ventricular drain market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as application and end-user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the external ventricular drain market. Further, we conducted factor analysis using dependent and independent variables such as various application and end-user of external ventricular drain. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the external ventricular drain market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global external ventricular drain market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the external ventricular drain market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global external ventricular drain market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global external ventricular drain market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of application and end-user in the global external ventricular drain market.
The main objective of the Global External Ventricular Drain Market Study
The current & future market trends of the global external ventricular drain market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the external ventricular drain market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application and end-user.
- Define and analysis of the regulatory framework for the external ventricular drain
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the external ventricular drain market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the external ventricular drain market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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