Press Release

Traumatic Brain Injuries Assessment And Management Devices Market to Grow Globally with a CAGR of 7.31% through 2028

Heightened awareness, government support, and collaborative research is expected to drive the Global Traumatic Brain Injuries Assessment And Management Devices Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Traumatic Brain Injuries Assessment And Management Devices Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global Traumatic Brain Injuries Assessment And Management Devices Market stood at USD 3.04 billion in 2022 and is anticipated to grow with a CAGR of 7.31% in the forecast period, 2024-2028. This can be attributed to supportive government policies. Government policies and investments play a pivotal role in boosting the Traumatic Brain Injuries Assessment and Management Devices Market. Governments around the world are recognizing the significance of addressing TBIs and are actively supporting research, development, and the deployment of advanced devices. An illustrative example is the Medical Research Future Fund (MRFF) in Australia, which allocated a substantial investment of USD 50 million under the 2019-2020 budget to further the cause of TBI treatment and patient recovery. Furthermore, the global nature of TBI care is fostering increased collaboration among countries, institutions, and manufacturers. Collaborative efforts will drive the development of innovative solutions and help address the complex challenges associated with TBI assessment and management.

                                                                                             

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Key causes of Traumatic Brain Injuries (TBIs) encompass sports-related injuries, falls, gunshot wounds, instances of domestic violence, and road traffic accidents. According to data from the Center for Disease Control and Prevention (CDC), there were approximately 69,000 TBI-related fatalities in the United States in 2021, translating to an average of roughly 190 TBI-related deaths daily. Additionally, Stanford Children's Health reports over 3.5 million sports-related injuries occurring among children in the U.S. each year, with approximately 21% of them being TBIs. Consequently, the increasing incidence of TBIs due to sports injuries, accidents on the road, and acts of violence is expected to stimulate market growth throughout the forecast period.

The escalating demand for minimally invasive neurological procedures, which offer reduced pain, lower infection risks, and faster recovery times, is poised to drive the need for TBIs assessment and management devices. Furthermore, the proactive efforts of governments in various countries to address brain injuries through initiatives and programs are anticipated to further bolster market growth. For instance, the Brain Injury Association of America (BIAA) conducts a national public awareness campaign annually in March, known as "Change Your Mind," which aims to raise awareness about brain injuries and their impact on individuals and families. Similarly, the Defense and Veterans Brain Injury Center (DVBIC) provides online education for both civilian and military healthcare providers, promoting comprehensive care for service members and veterans worldwide. As a result, the increasing public awareness of TBIs and their treatment options is likely to contribute to market growth. High prevalence rates of TBIs due to road accidents, sports injuries, and assaults have been observed in countries such as the United States and Canada.

Gunshot wounds and exposure to explosive blasts are common causes of TBIs among active-duty military personnel. For example, the Defense and Veterans Brain Injury Center (DVBIC) reports that between 2000 and late 2019, around 414,000 TBIs were documented among U.S. military members. In Canada, according to the Brain Injury Association Waterloo-Wellington, over 11,000 individuals succumb to TBIs annually, with more than 6,000 experiencing permanent disabilities following such injuries. Consequently, the substantial prevalence of TBIs is expected to propel market growth over the forecast period.

The COVID-19 pandemic, which emerged in 2020, had a short-term and moderate impact on the market. It directly affected demand and production, disrupted supply chains, and imposed financial burdens on companies. To mitigate the spread of the virus, many brain surgeries were postponed or canceled during this period. In the most severely affected countries, such as the United States, Russia, India, Brazil, France, the United Kingdom, Italy, and Spain, neurosurgical procedures witnessed a 55% decline. However, according to a study published in the Elsevier journal "International Hemorrhagic Hospital Association" in January 2021, up to 36% of hospitalized COVID-19 patients exhibited neurological symptoms, and there were cases of ischemic and hemorrhagic infarctions. Another recent research study published in the Neurology Online Journal suggests that the COVID-19 virus might be a potential cause of novel neurological diseases in patients.

The Global Traumatic Brain Injuries Assessment And Management Devices Market is segmented into devices, technique, end-use, regional distribution, and company.

Based on its devices, the imaging devices segment secured the largest market share in 2022. This segment is further divided into Computed Tomography (CT) scans, Magnetic Resonance Imaging (MRI) devices, X-ray equipment, and others. Due to their heightened sensitivity, imaging devices are extensively utilized for evaluating patients with mild or severe Traumatic Brain Injuries (TBIs). Consequently, their usage in diagnosing and staging neurological diseases and disorders, particularly TBIs, is anticipated to boost this segment's growth. In March 2022, Swift Medical Inc. unveiled the Swift Ray 1, an innovative hardware device that can wirelessly connect to a smartphone camera. This device is a game-changer in wound care technology, as it captures comprehensive clinical data, significantly enhancing the assessment and monitoring of wound and skin conditions. The Swift Ray 1 is designed to be compact, fitting easily in a clinician's or patient's hand, enabling convenient and portable medical imaging. This groundbreaking technology empowers healthcare professionals to access powerful imaging capabilities, whether in a hospital or a patient's home. Over the 2023-2030 forecast period, the monitoring devices segment is projected to experience the most rapid CAGR. This can be attributed to the minimally invasive nature of these devices, increased awareness, and improvements in healthcare facilities. Moreover, factors like the enhanced accuracy of these devices, growing patient preference for non-invasive procedures, and strong physician preference for monitoring the progression of brain diseases are expected to drive growth in this segment during the forecast period.

Based on end-use, the hospital sector emerged as the dominant force in the market, securing the highest share of total revenue. This remarkable growth can be chiefly attributed to the increased number of brain surgeries conducted within hospital facilities and a rising global prevalence of Traumatic Brain Injury (TBI) patients. Furthermore, hospitals are well-equipped with cutting-edge technology and devices that are used by skilled neurologists, a factor expected to propel growth in this sector during the forecast period.

On the other hand, the "other" segment, encompassing Ambulatory Surgical Centers (ASCs), research centers, and emergency clinics, is projected to register the most rapid CAGR from 2023 to 2030. This upsurge can be attributed to the various advantages offered by emergency clinics and ASCs, such as shorter procedure times and same-day discharge, in comparison to hospitals. Additionally, a significant portion of advanced and minimally invasive brain surgeries can now be performed at ASCs, contributing to their appeal. Consequently, the growth of the "other" segment is primarily driven by cost-effectiveness and ongoing advancements in minimally invasive surgical techniques, coupled with reduced procedure durations.

Major companies operating in Global Traumatic Brain Injuries Assessment And Management Devices Market are:

  • Integra LifeSciences Corp
  • BioDirection Inc
  • Nihon Kohden Tokyo Corp
  • Compumedics Ltd
  • InfraScan Inc
  • Oculogica Inc
  • RAUMEDIC AG

 

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“The Global Traumatic Brain Injuries Assessment and Management Devices Market is set to witness a transformative evolution in the coming years. The key trends reflect a commitment to improving patient care, personalizing treatment, and advancing the capabilities of assessment and management devices. As the market continues to evolve, patients and healthcare professionals alike can look forward to a future where TBI care is more effective, accessible, and patient-centric,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Global Traumatic Brain Injuries Assessment And Management Devices Market By Devices (Imaging Devices (Magnetic Resonance Imaging (MRI) Devices, X-Ray, Computed Tomography, Others), Monitoring Devices), By Technique (Intracranial pressure monitoring, Partial pressure of oxygen in brain tissue (pBrO2)), By End-Use (Hospitals, Diagnostic centers, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Global Traumatic Brain Injuries Assessment And Management Devices Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Traumatic Brain Injuries Assessment And Management Devices Market.


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