PUBLISHER: The Business Research Company | PRODUCT CODE: 1526847
PUBLISHER: The Business Research Company | PRODUCT CODE: 1526847
Traumatic brain injury (TBI) assessment and management devices encompass medical tools and technology designed for diagnosing, assessing, monitoring, and treating individuals affected by TBI. Healthcare professionals utilize these devices to enhance the precision of TBI diagnosis, ensure ongoing patient monitoring, evaluate cognitive and functional impairments, and implement suitable treatment and rehabilitation strategies, thus enhancing patient outcomes.
The primary devices for assessing and managing traumatic brain injury are imaging devices and monitoring devices. Imaging devices are medical instruments employed to visualize the brain and evaluate traumatic brain injuries (TBI). They encompass diverse technologies, including intracranial pressure (ICP) monitoring and measuring the partial pressure of oxygen in brain tissue, utilized by various end-users such as hospitals, diagnostic centers, and others.
The traumatic brain injuries assessment and management devices market research report is one of a series of new reports from The Business Research Company that provides traumatic brain injuries assessment and management devices market statistics, including traumatic brain injuries assessment and management devices industry global market size, regional shares, competitors with a traumatic brain injuries assessment and management devices market share, detailed traumatic brain injuries assessment and management devices market segments, market trends and opportunities, and any further data you may need to thrive in the traumatic brain injuries assessment and management devices industry. This traumatic brain injuries assessment and management devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The traumatic brain injuries assessment and management devices market size has grown strongly in recent years. It will grow from $3.21 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to increased awareness about the importance of early detection and appropriate management, historical developments in imaging modalities, military research and funding, clinical research and evidence-based practices, and regulatory framework development.
Expectations point towards robust growth in the traumatic brain injuries assessment and management devices market over the coming years, with an anticipated expansion to $4.89 billion by 2028, reflecting a compound annual growth rate (CAGR) of 8.8%. The surge during the forecast period can be ascribed to the increasing occurrence of traumatic brain injuries, the susceptibility of the aging population to falls and age-related brain injuries, heightened awareness regarding the long-term repercussions of concussions, and government-backed research endeavors. Key trends anticipated in the forecast period encompass the integration of artificial intelligence (AI), wearable monitoring devices, the broadening of telemedicine platforms and remote consultation services, advancements in non-invasive brain stimulation techniques, and the proliferation of virtual reality (VR).
The rising incidence of road traffic crashes is poised to drive the advancement of the traumatic brain injuries assessment and management devices market in the future. Road traffic crashes entail collisions involving vehicles on public roads, resulting in property damage, injuries, or fatalities. The escalating occurrence of road traffic crashes is frequently attributable to factors such as increased vehicle volumes, distracted driving, speeding, and inadequate infrastructure. Traumatic brain injury (TBI) assessment and management devices play a crucial role in aiding the treatment of victims of road traffic crashes by facilitating prompt evaluation and monitoring of brain function to guide appropriate medical interventions. For example, in May 2022, as per an estimate released by the National Highway Traffic Safety Administration (NHTSA), a federal agency based in the USA, there was a 10.5% increase in the number of fatalities in motor vehicle traffic crashes, with an estimated 42,915 deaths in 2021 compared to 38,824 fatalities in 2020. Hence, the escalating number of road traffic crashes is propelling the expansion of the traumatic brain injuries assessment and management devices market.
Prominent companies in the traumatic brain injuries assessment and management devices market are directing their efforts towards the development of innovative products, such as diagnostic handheld devices, aimed at enhancing portability and accessibility for more effective TBI detection and management. Diagnostic handheld devices typically denote portable instruments equipped with sensors or technologies utilized for swift assessment and identification of potential brain injuries at the point of care outside conventional clinical settings, providing convenience and immediate results. For example, in November 2023, the University of Birmingham, a US-based research university and academic medical center, introduced a groundbreaking diagnostic device designed to detect traumatic brain injury (TBI) by employing a safe laser beam directed into the eye. This system integrates a class 1 CE-marked, eye-safe laser with a Raman spectroscopy setup, utilizing light to reveal the biochemical and structural characteristics of molecules through the analysis of their light scattering, thereby detecting the presence and quantities of established biomarkers associated with brain injury.
In March 2022, NeuroCatch Inc., a neuro-health technology firm situated in Canada, entered into a partnership with BioFlex Inc., with the intention of amalgamating their inventive technologies. This joint effort seeks to equip healthcare providers with cutting-edge tools and methodologies to bolster brain health. Their primary objective is to propel research into the advantages of photobiomodulation therapy (PBMT) concerning brain health, particularly in the domain of traumatic brain injury. Meditech International Inc., a US-based company specializing in photobiomodulation therapy intended to enhance brain function and facilitate recovery.
Major companies operating in the traumatic brain injuries assessment and management devices market are Abbott Laboratories, Medtronic plc, Siemens Healthineers AG, Philips Healthcare, GE HealthCare Technologies Inc., Boston Scientific Corporation, Canon Medical Systems Corporation (CMSC), Masimo Corporation, Nihon Kohden Corporation, Natus Medical Incorporated, Neurosoft SA, Cadwell Industries Inc., NeuroPace Inc., Compumedics Limited, Emotiv Inc., Micromed LLC, Electrical Geodesics Inc., ANT Neuro, Neuroelectrics Corporation, BrainScope Company Inc., Hyperfine Research Inc., Advanced Brain Monitoring Inc., Moberg Research Inc., Mitsar Co. Ltd., ELMIKO Medical Equipment
North America was the largest region in the traumatic brain injuries assessment and management devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the traumatic brain injuries assessment and management devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the traumatic brain injuries assessment and management devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The traumatic brain injuries assessment and management devices market consists of sales of intracranial pressure monitoring devices (ICP Monitors), EEG (electroencephalogram), cerebral oximeters, Glasgow coma scale (GCS), and neurological examination tools (reflex hammers, tuning forks). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Traumatic Brain Injuries Assessment And Management Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on traumatic brain injuries assessment and management devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for traumatic brain injuries assessment and management devices ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The traumatic brain injuries assessment and management devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.