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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