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Concussion Market Segments, Overview, Trends And Report 2024 - 2033
Concussion Market Segments
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According to The Business Research Company's, The concussion market size has grown steadily in recent years. It will grow from $7.63 billion in 2023 to $7.91 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to increased awareness and education, sports participation and injuries, stringent sports regulations, advancements in diagnostic tools, legal and ethical implications..
The concussion market size is expected to see steady growth in the next few years. It will grow to $9.27 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to continued focus on sports safety, research and development in treatment, increased adoption of concussion protocols, growing public health concern, collaboration between medical and sports communities.. Major trends in the forecast period include teleconcussion services and remote monitoring, educational initiatives for concussion prevention, research on long-term effects and chronic traumatic encephalopathy (cte), implementation of concussion protocols in sports organizations, development of neuroprotective therapies, legislation and regulations for concussion management..
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Market Drivers and Trends:
The increase in the prevalence of brain injuries is expected to propel the growth of the concussion market going forward. Brain injuries refer to any type of injury or damage that affects the brain, resulting in a wide range of physical, cognitive, and emotional impairments. Treating concussions early and properly can help to reduce the effects of brain-related injuries on an individual's general brain health through physical and cognitive rest, symptom management, and gradual return to activities. Additionally, rising traffic accidents have also increased the occurrence of brain injuries. For instance, in January 2023, according to the article published by the NCBI (National Center for Biotechnology Information) a US-based agency for biomedical and genomic information, every year in the United States, an estimated 1.7 million people experience traumatic brain injuries, with 15 to 19-year-olds and seniors 65 and older having the highest risk of suffering one. For instance, in March 2023, according to the American Society of Clinical Oncology, in the US, primary malignant tumors of the brain and spinal cord are expected to affect 24,810 people (14,280 men and 10,530 women) in 2020. Further, brain tumors make up 85% to 90% of all cases. Therefore, the increase in the prevalence of brain injuries is driving the growth of the concussion market.
Product Innovation is the key trend gaining popularity in the concussion market. Major companies involved in the concussion market are focused on innovating new products to improve their observation power and sustain their position in the market. For Instance, In May 2022, TecTraum Inc., a US-based designer and developer of medical devices, and Nottingham-Spirk Design Associates Inc., a US-based product design firm, developed pro2cool, which provides the world's first point-of-care treatment for concussions and is the world's first-ever medical device treatment for concussions. The pro2cool system is a revolutionary, noninvasive hypothermic treatment device that is intended to lessen the severity of concussion symptoms and allow patients to recover to their pre-injury baseline as quickly as possible. The gadget cools the head and neck locally, lowering blood temperature before it hits the brain. Previous clinical investigations found that chilling the brain within days following a concussion resulted in significant improvements in clinical results.
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Major Key Players of the Market:
Pfizer Inc., Novartis AG, Sanofi SA, Abbott Laboratories, Medtronic plc, Viatris Inc., Zydus Lifesciences Ltd., Integra LifeSciences Corporation, Nihon Kohden Corporation, Raumedic AG, Lupin Limited, NeuroPace Inc., Compumedics Limited, NeuroLogica Corporation, Neural Analytics Inc., NovaSignal Corp., Back Bay Life Science Advisors, BrainScope Company Inc., Neuro Kinetics Inc., ImPACT Applications Inc., NanoDx Inc., Neuren Pharmaceuticals Limited, Advanced Brain Monitoring Inc., ElMindA Ltd., NeurOptics Inc., InfraScan Inc., Neuro Assessment Systems Inc., NeuroTrauma Sciences LLC, SyncThink Inc., Oxeia Biopharmaceuticals Inc., Oculogica Inc., Banyan Biomarkers Inc., Emotiv Inc., BioDirection Inc., Neurologic Wellness Institute
Concussion Market 2024 Key Insights:
• The concussion market size is expected to see steady growth in the next few years. It will grow to $9.27 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%.
• Rising Brain Injuries Drives Growth In The Concussion Market
• Innovative Products Transform The Concussion Market
• North America was the largest region in the concussion market in 2023
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