Traumatic Brain Injuries Assessment And Management Devices Market 2024 - By Size, Industry Analysis, Segmentation And Outlook 2033

The Business Research Company recently released a comprehensive report on the Global Traumatic Brain Injuries Assessment And Management Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The traumatic brain injuries assessment and management devices market size has grown strongly in recent years. It will grow from $3.21 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to historical developments in imaging modalities, military research and funding, clinical research and evidence-based practices, regulatory framework development, and increased awareness about the importance of early detection and appropriate management.

The traumatic brain injuries assessment and management devices market size is expected to see strong growth in the next few years. It will grow to $4.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to the rising incidence of traumatic brain injuries, the aging population is prone to falls and age-related brain injuries, heightened awareness of the long-term consequences of concussions, and government-supported research initiatives. Major trends in the forecast period include the integration of artificial intelligence (AI), wearable monitoring devices, expansion of telemedicine platforms and remote consultation services, advancements in non-invasive brain stimulation techniques, and the expansion of virtual reality (VR).

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Market Drivers and Trends:

The increasing number of diagnostic imaging procedures is expected to propel the growth of the refurbished medical imaging device market going forward. Diagnostic imaging procedures refer to a variety of medical techniques used to visualize the internal structures of the body for diagnostic purposes. The increasing adoption of preventive healthcare measures is leading to a rise in diagnostic imaging procedures, facilitating early detection and treatment of medical conditions. Refurbished medical machines are commonly used for various diagnostic purposes, including detecting fractures, examining the chest for lung conditions, and assessing the abdomen for abnormalities. For instance, in December 2023, according to a report published by the Canadian Agency for Drugs and Technologies in Health, a Canada-based professional non-profit organization, the number of magnetic resonance imaging (MRI) units available in all provinces and one territory saw a significant rise of 30.8%, increasing from 308 units in 2021 to 403 units in 2022. Additionally, according to a survey conducted on 56 Canadian privately owned imaging facilities by Canadian Agency for Drugs and Technologies in Health, a Canada-based government office, the average number of magnetic resonance imaging (MRI) scans, a type of diagnostic imaging procedures, conducted at a single private facility in Canada was 4,703, with figures ranging from 531 to 12,194 in 2021 to 2022, which rose to 5,178, with the range extending from 569 to 12,389 scans. Therefore, the increasing number of diagnostic imaging procedures is driving the growth of the refurbished medical imaging device market.

Major companies operating in the traumatic brain injuries assessment and management devices market are focusing on developing new products, such as diagnostic hand-held devices, to enhance portability and accessibility for improved TBI detection and management. Diagnostic handheld devices typically refer to portable tools equipped with sensors or technologies used to quickly assess and identify potential brain injuries at the point of care outside of traditional clinical settings, offering convenience and immediate results. For instance, in November 2023, the University of Birmingham, a US-based research university and academic medical center, launched a novel diagnostic device to detect traumatic brain injury (TBI) by shining a safe laser into the eye. This system integrates a class 1 CE-marked, eye-safe laser with a Raman spectroscopy setup, which utilizes light to unveil the biochemical and structural attributes of molecules by analyzing their light scattering, thereby identifying the presence and quantities of established biomarkers associated with brain injury.

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Major Key Players of the Market:

Abbott Laboratories, Medtronic plc, Siemens Healthineers AG, Philips Healthcare, GE HealthCare Technologies Inc., Boston Scientific Corporation, Canon Medical Systems Corporation (CMSC), Masimo Corporation, Nihon Kohden Corporation, Natus Medical Incorporated, Neurosoft SA, Cadwell Industries Inc., NeuroPace Inc., Compumedics Limited, Emotiv Inc., Micromed LLC, Electrical Geodesics Inc., ANT Neuro, Neuroelectrics Corporation, BrainScope Company Inc., Hyperfine Research Inc., Advanced Brain Monitoring Inc., Moberg Research Inc., Mitsar Co. Ltd., ELMIKO Medical Equipment

Traumatic Brain Injuries Assessment And Management Devices Market 2024 Key Insights:

• The traumatic brain injuries assessment and management devices market size is expected to see strong growth in the next few years. It will grow to $4.89 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%.
• Rising Road Traffic Crashes Propel Growth In The Traumatic Brain Injuries Assessment And Management Devices Market
• Advancements In Technology Revolutionize The Traumatic Brain Injury Assessment And Management Devices Industry
• North America was the largest region in the traumatic brain injuries assessment and management devices market in 2023

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