Concussions Market Analysis

Global Concussions Market Overview

Concussions Market Size was valued at USD 1.1 Billion in 2022. The Concussions Market industry is projected to grow from USD 1.13 Billion in 2023 to USD 1.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.33% during the forecast period (2023 - 2032). A growing number of mild head injuries from sports, ongoing product development, an increase in the number of road accidents, and a growing senior population are the key market drivers enhancing the market growth.

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Concussions Market Trends

• Recent Technological Advances Powered by Several Governments in the Domain to Drive Market Growth

The technological advancements driven by various governments in the domain are driving the market CAGR for concussions. Technological improvements in concussion diagnosis equipment are opening up new industry prospects. These technological advances include a quick concussion point-of-care test that takes less than 2 minutes and concussion diagnostic tools that use eye-tracking. Many industry and healthcare organizations are implementing effective strategies to improve concussion diagnosis and recovery research and development projects. Oculogica, Inc., for example, makes eye tracking-based equipment for concussion detection. This allows doctors to screen patients for a suspected concussion in as little as four minutes. Furthermore, BrainScope Business, Inc. has released Ahead 300 for the treatment of head traumas, including concussions. Over the forecast period, such technological advances are expected to enhance the market. 

Likewise, various national and federal organizations have taken steps to increase understanding and awareness of brain damage. For example, the CDC has implemented the "HEADS-UP" Concussion in Youth Sports project to ensure the safety and well-being of young athletes. This program aims to offer and disseminate essential information regarding avoiding, identifying, and responding to a concussion.

The growing amount of R&D initiatives focused at improving existing understanding of traumatic brain injuries is favourably impacting market growth. Transforming Research and Clinical Knowledge in Traumatic Brain Injury (TRACK-TBI), for example, has been doing considerable research to gain a better knowledge of traumatic brain injuries, which is likely to bring valuable insights for improved identification of associated patients. Furthermore, scientists are investigating ways to externally trigger the brain's innate ability to adapt and mend itself, a phenomenon known as neuroplasticity. Furthermore, stem cells have recently been identified as an experimental alternative therapeutic method for brain damage.

The stem cells stop brain damage, boost healing, and reduce inflammation by moving to the site of injury. Such research advances are projected to generate additional profitable opportunity pockets and fuel market expansion.

Another driver for concussions market is the rising frequency of mild traumatic brain injuries and the growing number of senior populations ly. According to a recent survey undertaken by the University of Pittsburgh's Brain Trauma Research Centre, about 62,000 brain injuries are reported in high school contact sports in the United States each year. Furthermore, according to the World Health Organization (WHO), the  incidence of TBI is similar to 10 million persons each year. As a result, the rising occurrence of mild traumatic injuries is likely to propel the market forward over the forecast period.

Furthermore, the growing geriatric population has greatly increased the industry. Such injuries are common in individual contact sports such as football and rugby, which are popular in most American and European countries in various capacities. The Centres for Disease Control and Prevention (CDC) estimate that between 1.€ and 3.8 million sports-related concussions happen in the United States per year, meaning that concussions are projected to affect 1 in every 5 athletes who play.

Moreover, the concession industry is crowded with competitors who are fiercely competing for a large piece of the money. The market's participants are focused on extensive research and development operations and producing new formulations to help further insights. The players are likewise eager to offer new items in order to preserve their market supremacy. For example, NovaSignal Corp. announced the Nova aid 2 Platform in April 2021, which provides clinical teams with critical, real-time information on cerebral blood flow to aid diagnosis and improve patient outcomes.

Concussions Market Segment Insights

Concussions Diagnosis & Treatment Insights

The  Concussions Market segmentation, based on Diagnosis & Treatment includes diagnosis, treatment. In 2022, the treatment segment led the concussion market, accounting for 51.4% of revenue. The segment is predicted to have the greatest CAGR. A growing number of firms are researching novel drugs for concussion treatment, and a huge number of clinical trials are being done all over the world to better understand the etiology of the illness.

Figure1  Concussions Market, by Diagnosis & Treatment, 2022 & 2032 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Concussions End-User Insights

The  Concussions Market segmentation, based on End-User, includes hospitals and clinics, diagnostic centers and payers. Among all end-users, the hospital segment dominates the market. In addition, due to an increase in the number of people suffering from such disorders, this category is expected to maintain its  market dominance. The market dominance can be attributed to the significant proportion of patients who select hospitals as their preferred mode of treatment due to improved healthcare infrastructure. Furthermore, a greater number of skilled employees capable of operating such high-end instruments contributes to the segment's dominance. Furthermore, high capital inside the hospital segment leads to the installation of additional high-end diagnostics and treatment tools, which further strengthens segment dominance.

Concussions Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Concussions Market area will dominate this market, because to the continent's higher prevalence of concussions caused by car accidents and sports injuries, as well as increased government activities and awareness campaigns linked to concussion prevention, diagnosis, and treatment. According to the American Physical Therapy Association (APTA), around 8.6 million sports injuries are documented in this region each year.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2  CONCUSSIONS MARKET SHARE BY REGION 2022 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Concussions Market accounts for the second-largest market share due to rising awareness of the significance of concussions and their potential long-term consequences. Further, the German Concussions Market held the largest market share, and the UK Concussions Market was the fastest growing market in the European region

The Asia-Pacific Concussions Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to causes such as an older population that is more sensitive to falls, an increase in the number of road accidents, and violence. Moreover, China’s Concussions Market held the largest market share, and the Indian Concussions Market was the fastest growing market in the Asia-Pacific region.

Concussions Key Market Players& Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Concussions Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Concussionsindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  Concussions industry to benefit clients and increase the market sector. In recent years, the Concussions industry has offered some of the most significant advantages to medicine. Major players in the Concussions Market, including Advanced Brain Monitoring, Inc. BioDirection, Inc. BrainScope Company, Inc. InfraScan, Inc, and Nova Signal Corporation,  and others, are attempting to increase market demand by investing in research and development operations.

Acorda Therapeutics, Inc. is a biotechnology business headquartered in Pearl River, New York. The company creates medicines to help people with Parkinson's disease, multiple sclerosis, and other neurological illnesses improve their neurological function. In the United States, Acorda Therapeutics develops and markets the medications Inbrija (levodopa inhalation powder) and Ampyra (dalfampridine).  In 2020, Acorda Therapeutics has formed a strategic alliance with the Medical University of South Carolina to develop and commercialize a new concussion therapy. The collaboration planned to use Acorda's neuroscience expertise and the university's experience in concussion research to create new treatment choices for patients.

Eli Lilly and corporation is a pharmaceutical corporation based in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in over 125 countries. Colonel Eli Lilly, a pharmaceutical chemist and American Civil War veteran, created and named the corporation in 1876. Colonel Eli Lilly, a pharmaceutical chemist and Union army veteran of the American Civil War, founded the corporation. Lilly was president of the corporation until his death in 1898. In 2020, Eli Lilly and business announced a collaboration with Imago BioSciences, a biotechnology business, to investigate a viable treatment for concussions. The collaboration planned to use Imago's small molecule inhibitor technology to target the immune system and reduce post-concussion inflammation.

Key Companies in the Concussions market include

• Advanced Brain Monitoring, Inc


• BioDirection, Inc.


• BrainScope Company, Inc.


• InfraScan, Inc


• Nova Signal Corporation

Concussions Industry Developments

September 2021, BrainScope Company, Inc. has announced the release of BrainScope One, its latest AI-powered medical gadget meant to assist physicians in swiftly and reliably assessing patients who may have suffered a concussion or other traumatic brain injury.

February 2021, TMS, a renowned medical device business specializing in the diagnosis and treatment of traumatic brain injury, was acquired by Biogen. The acquisition was made with the intention of boosting Biogen's product portfolio in the concussion sector.

August 2020, Abbott Laboratories has introduced a new test to help in the diagnosis of mild traumatic brain injury (TBI) or concussion. The Brain Trauma Indicator test detects two proteins found in the blood that are released into the bloodstream following a head injury.

Concussions Market Segmentation

Concussions Market By Diagnosis & Treatment Outlook

• Diagnosis


• Treatment

  Concussions Market By End-User Outlook

• Hospitals and Clinics


• Diagnostic Centers


• Payers

Concussions Regional Outlook

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• 
  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• 
  Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America