Concussion Market to hit USD 9,272.03 million, Globally, by 2028 at 3.7% CAGR: The Insight Partners

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.

The report highlights trends prevailing in the market and factors driving its growth. Rising road accidents and sports injuries and the easy availability of concussion therapies are driving the market. However, the challenges and lack of awareness associated with concussion treatment hampers the market growth.

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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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

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

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Concussion Market: Competitive Landscape and Key Developments
Nihon Koden Corporation; BrainScope Company, Inc.; Abbott; Compumedics Limited; InfraScan, Inc.; Novasignal Corporation; Elekta AB; Integra Lifesciences; NanoDiagnostics, Inc.; and Medtronic are the leading companies operating in the global concussion market.

Based on the type, the concussion market is segmented into treatment and diagnosis (magnetic resonance imaging, computed tomography scan, x-rays, and others). The diagnosis segment held the largest market share in 2021 and is anticipated to register the highest CAGR during the forecast period. The diagnosis is critical in identifying concussions in patients. the segment is further segmented into Magnetic Resonance Imaging (MRI), Computed Tomography (CT) Scan, X-Ray, and others. The healthcare providers adopt these methods of diagnosis based on the requirement and level of concussion. End users utilize relevant devices and equipment to diagnose the indications. Various regional and international players in the market are offering related products and services

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