PUBLISHER: Grand View Research | PRODUCT CODE: 1363346
PUBLISHER: Grand View Research | PRODUCT CODE: 1363346
The global external ventricular drain market size is anticipated to reach USD 10.52 billion by 2030, expanding at a CAGR of 5.9% from 2023 to 2030, according to a new report by Grand View Research, Inc.. High incidence of hydrocephalus and subsequent increase in the number surgical procedure to treat this condition are driving the market. An external ventricular drain 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.
Rising prevalence of cerebrovascular disorders and traumatic brain injuries globally is leading to the increased demand for external ventricular drain, thereby propelling 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 haemorrhagic, which results in the blocking of blood flow to the brain.
Furthermore, incorporation of various modern technologies, and 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 ventricular cavity for external drainage of cerebrospinal fluid.