Global External Ventricular Drain Market Size

External Ventricular Drain Market Analysis

The External Ventricular Drain Market is expected to grow with an estimated CAGR of 7.5%, over the forecast period, 2022-2027.

COVID-19 has impacted the external ventricular drain market in several ways. Currently, the use of healthcare services and visits to the hospital have drastically reduced due to social distancing measures imposed by the governments in the pandemic and the risk of transmission of infection through these procedures. The pandemic has also disrupted the supply chain of the market and the global monetary crisis also had a major impact on the external ventricular drain market. Moreover, the COVID-19 pandemic had a significant impact on the global healthcare systems, with significant consequences not only for COVID-19-infected patients but also for others, resulting in the cancellation of treatment and surgical procedures to manage and reserve resources. For instance, in June 2020, the World Health Organization issued the results of a survey conducted by 155 countries for three weeks in May 2020, which showed that the prevention and treatment services of various chronic diseases, including various neurodegenerative disorders, had been severely disrupted, and this has become a significant concern because people living with chronic diseases are at higher risk of severe COVID-19-related illness and death. However, this impact is expected to last for a fleeting period and the postponed procedures are expected to take into consideration by the hospitals and patients in near future. Thus, it is expected that the market is anticipated to propel soon.

External Ventricular Drain is considered as one of the life savings and most common procedures in the neurologic intensive care unit. The factors that drive the external ventricular drain market are, the increase in the elderly population, road accidents, and a rise in the burden of neurological disorders.

For instance, according to data published by the United Nations, in February 2021, about 1 billion people, nearly one in six of the world's population, suffer from neurological disorders, such as Alzheimer's and Parkinson's disease, strokes, multiple sclerosis, epilepsy migraine, brain injuries, and neuro infections in 2020. Additionally, as per the same source 62 million suffered from cerebrovascular disease, 50 million people suffered from epilepsy, 326 million from migraine, and 24 million from Alzheimer's disease and other dementias. Hence from the above-mentioned factors, the increasing neurological disorders, depicts an upward growth of the market over the forecast period. According to the Alzheimer's Association publication Alzheimer's Disease Facts and Figures 2022, Alzheimer's is the sixth most common cause of death in the country and is more common in persons over 65. In 2022, 6.5 million Americans aged 65 and over are predicted to be affected by Alzheimer's. In the upcoming years, this number is projected to rise significantly. By 2050, it is anticipated that 12.7 million people aged 65 and older would have Alzheimer's disease. Additionally, the prevalence of Alzheimer's dementia rises with age; 3% of persons between the ages of 65 and 74, 17% of people between the ages of 75 and 84, and 32% of people beyond the age of 85 are affected. Therefore, it is anticipated that the increased prevalence of neurodegenerative illnesses will fuel market expansion over the study period.

Furthermore, a research study published in Neurosurgical Focus in July 2022 found that Traumatic Brain Injury (TBI) affects up to 69 million people annually throughout the world. According to estimates, 1.6 million TBI cases that require neurosurgery happen each year in high-income countries (HICs), compared to 4.5 million cases in lower-middle-income countries (LMICS). Over 2.8 million Americans experience a TBI each year, with 280,000 of them necessitating hospitalization, according to a March 2021 article by the American Society for Biochemistry and Molecular Biology. TBI-related injuries cause close to 50,000 fatalities annually, or 155 fatalities each day. As a result, the high prevalence of TBI is anticipated to be a major driver of market expansion.

Moreover, in severe traumatic brain injury (TBI), for example, intracranial pressure (ICP) is frequently monitored to guide the treatment of intracranial hypertension, propelling the market, according to the study "Comparative effectiveness of intracranial hypertension management guided by ventricular versus intraparenchymal pressure monitoring: a CENTER-TBI study" published in June 2022. Intracranial pressure is most frequently brought on by traumatic brain injuries, which commonly result from car accidents, violent acts, sports injuries, explosions, and other types of combat traumas. Considering the above conditions, the external ventricular drain market is paved in a positive direction over the forecast period.

However, stringent regulations for product approvals and infections caused due to external ventricular drain have been restraining the market growth.