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.

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.

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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.

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.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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External Ventricular Drain Market