Coherent Market Insights added Latest Research Report titled ” Ventricular Drainage Sets Market, By Product Type (Ventricular Drainage Set and Accessories), By Application (Intraventricular Hemorrhage, Intracranial Hypertension, Hydrocephalus, CSF Infection, and Others), By End User (Hospitals and Ambulatory Surgical Centers) and By Region – Size, Share, Outlook and Opportunity Analysis 2018 – 2026 ” to its Large Report database.
Ventricular Drainage Sets Market Dynamics
High incidence of intraventricular hemorrhage associated with premature baby birth is expected to drive the ventricular drainage sets market growth over the forecast period. According to study published in Child’s Nervous System, 2016, intraventricular hemorrhage is commonly observed in 15%-20% of babies born before 32 weeks of gestation.
Furthermore, rising incidence of neurological disorders is leading to increasing demand for ventricular drainage sets, in turn propelling the ventricular drainage sets market growth. According to American Neurological Association, 2017, annual incidence of traumatic brain injury in the U.S. ranges from 1.4 million to 1.7 million. Moreover, the rate of traumatic injury increases with increasing age due to weakened neurological response.
Increasing road accidents is also expected to propel growth of the ventricular drainage set market. In countries such as India and China, road accidents accounts for high rate of traumatic injuries, in turn leading to increasing demand for ventricular drainage sets. For instance, according to Government of India, in 2016, injuries, disabilities, and deaths caused by road accidents accounted for around 494,624 injuries, with 1,317 accidents per day.
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Major companies operating in the global ventricular drainage sets market include Integra LifeSciences Corporation, Medtronic plc, Fuji Systems Corporation, Moller Medical GmbH, Sophysa, Dispomedica, and Spiegelberg GmbH & Co. KG.
Ventricular Drainage Sets Market – Regional Analysis
The global ventricular drainage sets market is segmented in North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America ventricular drainage sets market is expected to hold dominant position in the market. This is owing to increasing demand from rising hospitalizations associated with traumatic brain injury. For instance, according to Morbidity and Mortality Weekly Report (MMWR) Surveillance Summaries 2017, the rate of traumatic brain injury related emergency department visits in the U.S. increased by 47% whereas death rates decreased by 5%, over the duration of six years (2007–2013). The decrease in death rate is expected to be due to increasing adoption of medical equipment to better serve the patients.
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