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Traumatic Brain Injury Market Outlook, Trends, Analysis, Insights, Overview And Forecast To 2033
Traumatic Brain Injury Market Outlook
According to The Business Research Company's, The traumatic brain injury market size has grown strongly in recent years. It will grow from $2.48 billion in 2023 to $2.72 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to improved trauma care, rehabilitation therapies, concussion awareness, military and sports research.
The traumatic brain injury market size is expected to see strong growth in the next few years. It will grow to $3.8 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to neuroprotective agents, telemedicine and remote monitoring, individualized treatment plans, neuroinflammation research. Major trends in the forecast period include neurorehabilitation advances, mild tbi and concussion management, biomarker and imaging research, cognitive and emotional support.
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Market Drivers and Trends:
The rising road injuries are expected to propel the growth of the traumatic brain injury market going forward. Road injuries refer to any physical harm or damage due to incidents on roads, streets, highways, or other transportation routes. Traumatic brain injuries are often caused by road accidents, resulting in a wide range of physical and cognitive challenges for individuals affected by these incidents. Traumatic brain injury (TBI) treatment helps patients suffering from brain injuries caused by sudden road accidents with improved physical recovery, reduced complications and enhanced cognitive function. For instance, in September 2022, according to a report shared by Government Digital Service, a UK-based government body, approximately 1,558 people were killed in documented road traffic crashes in 2021, up 7% from 2020. Therefore, the rising road injuries are driving the growth of the traumatic brain injury market.
Major companies operating in the traumatic brain injury market are developing innovative treatments and tests, such as the I-STAT TBI plasma test, to meet the changing needs of consumers. Innovative therapies and tests for traumatic brain injury (TBI) are continuously being developed and researched to improve outcomes and the quality of life for individuals affected by TBI. For instance, in January 2021, Abbott Laboratories, a US-based medical devices company, launched the I-STAT TBI plasma test, a blood test for traumatic brain injury. It measures the level of biomarkers associated with brain injury in the bloodstream to determine the need for a computerized tomography (CT) scan of the head. Additionally, the test is used to help evaluate mild TBI and is only available for use on the I-STAT Alinity instrument. The future of the I-STAT TBI Plasma test looks promising, as it has the potential to revolutionize the diagnosis and treatment of TBI and concussion.
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Major Key Players of the Market:
Pfizer Inc., Medtronic PLC, Eli Lilly and Company, Stryker Corporation, Elekta AB, Integra LifeSciences Holdings Corp., Natus Medical Inc., Nihon Kohden Corporation, Raumedic AG, Qure.ai, Compumedics Ltd., Synaptive Medical Inc., BrainScope Company Inc., Neuren Pharmaceuticals Limited, SanBio Co. Ltd., Soterix Medical Inc., Inteprod LLC, BioDirection Inc., InfraScan Inc., NanoDx Inc., NeuroTrauma Sciences, Oculogica Inc., PathMaker Neurosystems Inc., Pinteon Therapeutics Inc., Vivonics Inc., Neural Analytics Inc., ReNetX Bio Inc., Sana Health Inc., Abliva AB, QuesGen Systems Inc.
Traumatic Brain Injury Market 2024 Key Insights:
• The traumatic brain injury market is expected to grow to$3.8 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• Escalating Road Injuries Fuel Expansion Of The Traumatic Brain Injury (TBI) Treatment Market
• Innovative Therapies And Tests Transform Traumatic Brain Injury (TBI) Market Landscape
• North America was the largest region in the traumatic brain injury market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in traumatic brain injury market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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