Concussions Market is likely to register a CAGR of 3.22% to reach USD 1,060.36 Million by 2023
Concussions Market: Information by Treatment (Diagnosis and Treatment) by End User (Hospitals and Clinics, Diagnostic Centers and Payers) & Region - Global Forecast till 2027
Concussions Market Overview/Concurrent Market Analysis
The global concussions market size is anticipated to touch USD 1,060.36 million at a 3.22% CAGR between 2017-2023, states the new Market Research Future (MRFR) report. A concussion, simply put, is a form of traumatic brain injury (TBI) resulting from a blow, jolt, or hit on the head or due to a hit on the body, which makes the brain and head in moving rapidly both back and forth. The sudden movement may make the brain twist or bounce around, making chemical changes and, at times, damaging and stretching the brain cells. Generally, concussions are not life-threatening yet may result in serious symptoms that need medical treatment. With advancements in technology, today, many concussions device is available in the market that helps in diagnosis and prevention of concussions or traumatic brain injury.
The symptoms and signs of concussion are vital as this does not generally show up on an MRI scan, CT scan, or an x-ray. These symptoms fall under four major categories. The physical/somatic symptoms include sensitivity to noise and light, nausea, dizziness, lightheadedness, and headache. The cognitive symptoms include difficulty multitasking and completing mental tasks, loss of focus, memory problems, and difficulties with attention. The sleep symptoms include having trouble to sleep, sleeping less than needed, and sleeping more than needed. The emotional symptoms include panic attacks, depression, and anxiety.
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Numerous factors are propelling the concussions market growth. Such factors, as per the new Market Research Future report, include developing sports medicine sector, investment of key players towards the management as well as treatment of concussions, the introduction of big data, ongoing product development as well as approval, increasing geriatric population, and increasing cases of mild traumatic brain injuries.
On the flipside, the dearth of skilled professionals and strict regulatory framework are factors that may have a negative impact on the concussions industry growth during the forecast period.
Market Segmentation
The Market Research Future report offers a complete segmental analysis of the concussions market on the basis of end user and treatment.
By treatment, the global concussions market is segmented into diagnosis and treatment. Among these, diagnosis will lead the market during the forecast period for the increasing incidence of traumatic brain injury worldwide.
By end user, the global concussions market is segmented into hospitals and clinics, payers, and diagnostic centers. Among these, hospitals and clinics will dominate the market during the forecast period for the presence of advanced healthcare equipment and favorable reimbursement policies.
Regional Analysis
By region, the concussions market report covers the latest trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Among these, the Americas will command the largest share in the market during the forecast period. Numerous factors are propelling the growth of the concussions market in the region, such as the rising prevalence of concussion coupled with the increasing awareness made by private firms as well as government organizations alike.
In Europe, the concussions market will have the second-largest share during the forecast period for the rising prevalence of concussions.
In the Asia Pacific region, the concussions market will grow at the fastest pace during the forecast period. Numerous factors are propelling the growth of the concussions market in the region, such as increasing research and development activities, rising incidence of traumatic brain injuries, increasing number of research and development centers being set up, well-established healthcare infrastructure, increasing disposable income, and developing healthcare infrastructure.
In the MEA, the concussions market will have a slow and steady growth during the forecast period for limited access as well as healthcare affordability.
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Key Players
Notable players profiled in the concussions market report include Integra LifeSciences Corporation, Zydus Cadila, Teva Pharmaceutical Industries Ltd, Mylan NV, Sun Pharmaceutical Industries Ltd, Sanofi SA, Medtronic PLC, Pfizer, Inc., Novartis AG, and Lupin.
Industry News
November 2019- NTS has collaborated with AES R&D for reducing concussions that are sport-related through virtual simulations and a breakthrough helmet technology. This helmet has been specially designed for preventing the helmet and the head from spinning at the time of the impact, that strains the brain.
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