External Ventricular Drain Market Size Worth $9.5 Billion By 2027: Grand View Research, Inc.
SAN FRANCISCO, Nov. 4, 2020 /PRNewswire/ -- The global external ventricular drain market size is anticipated to reach USD 9.5 billion by 2027, expanding at a CAGR of 7.6%, according to a new report by Grand View Research, Inc. High incidence of hydrocephalus and subsequent increase in the number of surgical procedure to treat this condition is driving the market. An external ventricular drain is also known as ventriculostomy is a medical procedure performed to remove excess cerebrospinal fluid from the ventricles of the brain to maintain intracranial pressure. It is used for conditions such as severe head injury, hydrocephalus, intracranial hypertension, subarachnoid hemorrhages, and inflammatory diseases of the cerebrospinal space.
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Key suggestions from the report:
-- Based on applications, the traumatic brain injury segment dominated the
market with a share of 33.7% in 2019 owing to the increase in the
prevalence of Traumatic Brain Injuries (TBI). As per the CDC, in 2014,
TBI was responsible for 2.8 million hospitalizations, emergency
department visits, and deaths in the U.S.
-- North America dominated the market with the highest revenue share of
35.6% in 2019 owing to the high incidence rate of cerebrovascular
disorders, well-established healthcare infrastructure coupled with
rising approvals by the U.S. FDA for new products
-- In the Middle East and Africa, the market is expected to witness the
highest CAGR of 8.2% from 2020 to 2027 owing to untapped opportunities
in the region, growing incidences of neurological illnesses, and
increased incidences of brain injury in this region.
Read 95 page research report with ToC on "External Ventricular Drain Market Size, Share & Trends Analysis Report By Application (Traumatic Brain Injury, Subarachnoid Hemorrhage, Intracerebral Hemorrhage), By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/external-ventricular-drain-market
The rising prevalence of cerebrovascular disorders and traumatic brain injuries globally is leading to the increased demand for external ventricular drain, thereby propelling the market growth. According to the Stroke Statistics 2018, over 100,000 people suffer from strokes in the U.K. every year. Out of which around 85.0% are ischemic strokes and 15.0% are hemorrhagic, which results in the blocking of blood flow to the brain.
Furthermore, the incorporation of various modern technologies, and the introduction of new products by market players, are likely to boost the market during the forecast period. For instance, in September 2017, Arkis BioSciences received U.S. FDA approval for its "CerebroFlo"- an external ventricular drainage catheter. It is used for insertion into the ventricular cavity for external drainage of cerebrospinal fluid.
Grand View Research has segmented the global external ventricular drain market on the basis of application and region:
-- External Ventricular Drain Application Outlook (Revenue, USD Million,
2016 - 2027)
-- Traumatic Brain Injury
-- Subarachnoid Hemorrhage
-- Intracerebral Hemorrhage
-- Other Non-traumatic Hydrocephalus Conditions
-- Peri-implantitis Regional Outlook (Revenue, USD Million, 2016 - 2027)
-- North America
-- The U.S.
-- Canada
-- Europe
-- The U.K.
-- Germany
-- France
-- Spain
-- Italy
-- Asia Pacific
-- India
-- Japan
-- China
-- South Korea
-- Australia
-- Latin America
-- Brazil
-- Mexico
-- Argentina
-- Colombia
-- Middle East & Africa
-- South Africa
-- Saudi Arabia
-- UAE
List of Key Players of External Ventricular Drain Market
-- Pfizer Inc.
-- Cadila Pharmaceuticals
-- R.N. Laboratories Pvt. Ltd.
-- Basic Pharma Life Science Pvt. Ltd.
-- Prachi Pharmaceuticals Private Limited.
-- Geistlich Pharma Inc.
-- Healthy Life Pharma.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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SOURCE Grand View Research, Inc.
