Ventricular drainage tubes are inserted surgically into the ventricles in the brain to drain out cerebrospinal fluid (CSF). The tubes are then connected to a device that helps measure the amount of this fluid. This procedure is often used when the ICP is elevated. This drainage may be clamped for short time by nursing only. Ventricular drain tubes are considered to be an alternative method to control elevated ICP.
Global Ventricular Drainage Tubes Market: Dynamics
Rising incidence of traumatic injuries
Increasing incidence of cranial injuries and trauma, globally, is a key driver of the ventricular drainage tubes market. Road accidents and violence are the most common causes of cranial injuries and head trauma, besides slips, falls, and industrial accidents. These lead to hospitalization and permanent disability for thousands of individuals each year. Elevated intracranial pressure after a head injury is considered to have an unfavorable outcome with a mortality rate of approximately 20%. Continuous monitoring of intracranial pressure is vital to assess the efficacy of the therapeutic measures as well as to map the progression of brain injury. According to the U.S. Centers for Disease Control and Prevention (2010), an estimated 1.7 million people sustain traumatic brain injury in the U.S. each year. Of these, 52,000 die, 275,000 are hospitalized, and approximately 1.4 million are treated and released from an emergency department/room. Additionally, according to the European Injury Database (IDB), nearly 6.1 million people are treated in hospitals for fractures and sports-related injuries every year. These injuries include facial and traumatic brain injuries. Therefore, ventricular drainage tubes have become a cornerstone of care owing to the rise in the number of traumatic brain injuries across the world.
Need an Overview of the Report on Ventricular Drainage Tubes Market? Ask for the Brochure here
Increasing healthcare expenditure across the world boosting market
Technological advancements in deciding the treatment regimen for cerebrovascular diseases have helped extend the life expectancy of people, and simultaneously led to the increased cost of treatment. Governments across the world are increasing their spending to provide better health care services. For instance, an analysis based on preliminary government data by the Centers for Medicare & Medicaid Services reveals that health care spending in the U.S. increased by 5% in 2014, as compared to 3.6% in 2013. The organization also estimated that the average growth rate would be pegged at approximately 6% from 2015 to 2023.
Other developed countries such as France, Germany, and Japan are also increasing their health care spending every year. France’s health care system covers the public-private mix of hospital and ambulatory care with higher volume of service provisions, as compared to the U.S.
Apart from developed countries, health care spending is also rising in developing countries across the world such as India and China, who are focused on providing better health care services to a large population base. The Philippines is also increasing its financial support for public health care expenditure in order to save the burden of out-of-pocket costs for its people.
Consequently, such initiatives taken by governments pertaining to health care expenditure would increase the application of ventricular drainage tubes in hospitals and trauma centers, thereby boosting the market
Stuck in a Neck-to-Neck Competition with Other Brands? Request a Custom Report on “Ventricular Drainage Tubes Market” here
Global Ventricular Drainage Tubes Market – Competition Landscape
Major players operating in the global ventricular drainage tubes market include Spiegelberg GmbH & Co. KG, Dispomedica, SOPHYSA, and Medtronic.
Spiegelberg GmbH & Co. KG
Spiegelberg GmbH & Co. KG, formerly known as Spiegelberg KG, engages in the manufacture and marketing of intracranial pressure monitors, probes, catheters, and accessories for neurosurgical use. The company also specializes in the manufacture and supply of external CSF drainage system, IAP monitoring, shunt systems, and surgical instruments. Spiegelberg GmbH & Co. KG offers its products to biotechnology and pharmaceutical industries, hospitals, and trauma care centers worldwide Mexico.
SOPHYSA has been operating as a subsidiary of Tokibo Co., Ltd. since 1989. SOPHYSA is a leading company that manufactures and markets neurosurgical valves for the treatment of hydrocephalus.
The company also manufactures a wide range of catheters and accessories, reservoirs, ICP sensors, and external drainage systems that are employed in neurosurgery. Apart from neurosurgery and neurotrauma devices, the company leveraged on technical knowledge, such as polysulfone injection used in the manufacture of valve body, to develop Soph-A-Port. SOPHYSA has a presence in North America and Europe, and sells its products through direct sales representatives.
Medtronic is a U.S.-based company that engages in the manufacture and marketing of medical devices for diverse chronic conditions. Medtronic operates through three business segments: cardiac and vascular group, restorative therapies group, and diabetes group. The company offers products that are used in therapies for cardiac rhythm disease management (CRDM), spinal and biologics, cardio vascular, neuromodulation, neuromonitoring, diabetes, and surgical technology. The company offers monitoring devices for cranial trauma and hydrocephalus comes under its restorative therapies segment. Primary customers of the company include clinics, distributors, hospitals, third-party healthcare providers, and governments that offer healthcare programs.
Global Ventricular Drainage Tubes Market: Segmentation
The global ventricular drainage tubes market can be segmented based on:
In terms of type, the ventricular drainage tubes market can be classified into:
In terms of application, the ventricular drainage tubes market can be divided into:
- Traumatic Brain Injury
- Intracerebral Hemorrhage
- Subarachnoid Hemorrhage
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
- 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.