The concussion market is expected to grow from US$ 7,211.89 million in 2021 to US$ 9,272.03 million by 2028. It is estimated to grow at a CAGR of 3.7% during 2021–2028.
According to the Centers for Disease Control and Prevention (CDC), a concussion is a type of traumatic brain injury-or TBI caused by a bump, blow, or jolt to the head or a hit to the body, causing the head and brain to move rapidly back and forth. The American Association of Neurological Surgeons report states that concussion symptoms can affect people in various ways, including vision, balance, and even mood. The growth of the concussion market is due to the rising road accidents and sports injuries and technological advancement. However, challenges and lack of awareness associated with treatment is expected to restrict the concussion market growth during the forecast period.
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Concussion Market: Strategic Insights
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Concussion Market: Strategic Insights
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Market Insights
Rising Road Accidents and Sports Injuries
According to the Brain Injury Research Institute’s report, nearly 1.6—3.8 million athletes suffer from concussions annually. The American Academy of Pediatrics study states that sports-related concussion cases are highest among high school athletes and on the rise among younger athletes. For instance, 10% of all contact sports athletes sustain concussions yearly. Also, an athlete who sustains concussion is four to six times more prone to experience a second concussion. Further, the Centers for Disease Control and Prevention (CDC) report states that an estimated 273,272 children aged 17 years or younger were treated in United States emergency departments (EDs) intended for nonfatal traumatic injuries (TBIs) related to sports and recreation in 2016. Thus, the above incidences are likely to create opportunities for market players in the concussion market during the forecast period.
On the other hand, the World Health Organization (WHO) report states that approximately 1.3 million people die annually due to head injuries in road crashes. Road traffic collisions are prevalent in low-middle income countries (LMICs). Currently, the highest incidence of concussion cases is reported in North America and Europe. The Journal of Neurosurgery states that almost 64–74 million individuals may suffer from concussion cases every year, with the highest cases witnessed in Southeast Asian and Western Pacific regions. Furthermore, the Centers for Disease Control and Prevention (CDC) report states that about 800,000 children are treated with concussion-related cases at EDs in the US. Also, in 2018, there were almost 223,050 TBI or concussion-related hospitalizations and 60,611 deaths in 2019. This represents more than 610 TBI-related hospitalizations and 166-TBI or concussion-related deaths per day. Population aging 75 years and older experience the highest numbers of TBI or concussion-related hospitalizations and deaths accounting for 32% of TBI or concussion hospitalization representing to 28% TBI or concussion associated deaths
End User-Based Insights
Based on end user, the concussion market is segmented into hospitals & clinics, diagnostic centers, and others. The hospitals & clinics segment held the largest concussion market share in 2021 and is anticipated to register the highest CAGR during the forecast period. Most of the surgeries are performed in hospital and clinics, owing to continuous patient care and monitoring. Also, growing government funding for hospital and clinics and rising hospitalization of patients is driving the concussion market growth.
Type-Based Insights
The concussion market is segmented into treatment and diagnosis in terms of type. The diagnosis market is further segmented into magnetic resonance imaging, computed tomography scan, x-rays, and others. The diagnosis segment held the largest concussion market share in 2021 and is anticipated to register the highest CAGR during the forecast period. The MRI segment holds the largest market share in diagnosis segment as the global leader in manufacturing MRI machines Fujifilm Holdings, GE Healthcare, Siemens Healthcare, Philips Healthcare, and others offer a wide range of products and services. Large product availability of MRI and related products and services is expected to support the segmental market during the forecast period.
Product launches are the most commonly adopted strategy by companies to expand their footprints and product portfolios in the concussion market. Moreover, the companies have implemented various inorganic strategies such as mergers and acquisitions, and partnerships. For instance, in April 2021, NovaSignal Corp. launched the NovaGuide 2 Platform that empowers clinical teams with critical, real-time information about cerebral blood flow to guide diagnosis and improve patient outcomes. The platform includes NovaGuide 2 Intelligent Ultrasound, which autonomously captures blood flow data to identify brain illnesses and disease, and NovaGuide View provides secure, cloud-based access to dynamic exam data thus driving the concussion market growth.
Concussion Market Regional Insights
Concussion Market Regional Insights
The regional trends and factors influencing the Concussion Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Concussion Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Concussion Market Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 7.21 Billion |
| Market Size by 2028 | US$ 9.27 Billion |
| Global CAGR (2021 - 2028) | 3.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Concussion Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Concussion Market are:
- Abbott
- BrainScope Company Inc.
- InfraScan, Inc.
- NOVASIGNAL CORPORATION
- Integra LifeSciences
Disclaimer: The companies listed above are not ranked in any particular order.
- Get the Concussion Market top key players overview
Company Profiles
- Abbott
- BrainScope Company Inc.
- InfraScan, Inc.
- NOVASIGNAL CORPORATION
- Integra LifeSciences
- NanoDiagnostics, Inc.
- Medtronic
- Elekta AB
- Nihon Kohden Corporation
- Compumedics Limited
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, End User, Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The concussion market based on type is segmented into treatment and diagnosis. Diagnosis is further sub-segmented into magnetic resonance imaging (MRI), computed tomography (CT) scans, x-rays, and others. In 2021, the diagnosis segment accounted for the highest share. Moreover, the treatment segment is expected to grow at a CAGR of 3.9% in the forecast period.
The concussion market Nihon Koden Corporation, BrainScope Company, Inc., Abbott, Compumedics Limited, InfraScan, Inc., Novasignal Corporation, Elekta AB, Integra Lifesciences, NanoDiagnostics, Inc., and Medtronic among others.
The factors that are driving and restraining factors that will affect the concussion market in the coming years. Factors such as the rising road accidents and sports injuries, technological advancements. However, challenges and lack of awareness associated with concussion treatment are expected to hamper the concussion market.
According to the Centers for Disease Control and Prevention (CDC) a concussion is a type of traumatic brain injury-or TBI caused by a bump, blow, or jolt to the head or by a hit to the body causing the head and brain to move rapidly back and forth. The American Association of Neurological Surgeons report states that concussion symptoms can affect people in a variety of ways including vision, balance, and even mood.
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The List of Companies - Concusion Market
- Abbott
- BrainScope Company Inc.
- InfraScan, Inc.
- NOVASIGNAL CORPORATION
- Integra LifeSciences
- NanoDiagnostics, Inc.
- Medtronic
- Elekta AB
- Nihon Kohden Corporation
- Compumedics Limited
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