Categories: Healthcare

Concussion Market Growth Trajectory Through 2024-2033

The Concussion Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Concussion Global Market Report 2024, The concussion market size has grown steadily in recent years. It will grow from $7.63 billion in 2023 to $7.91 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to increased awareness and education, sports participation and injuries, stringent sports regulations, advancements in diagnostic tools, legal and ethical implications..

The concussion market size is expected to see steady growth in the next few years. It will grow to $9.27 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to continued focus on sports safety, research and development in treatment, increased adoption of concussion protocols, growing public health concern, collaboration between medical and sports communities.. Major trends in the forecast period include teleconcussion services and remote monitoring, educational initiatives for concussion prevention, research on long-term effects and chronic traumatic encephalopathy (cte), implementation of concussion protocols in sports organizations, development of neuroprotective therapies, legislation and regulations for concussion management..

The increase in the prevalence of brain injuries is expected to propel the growth of the concussion market going forward. Brain injuries refer to any type of injury or damage that affects the brain, resulting in a wide range of physical, cognitive, and emotional impairments. Treating concussions early and properly can help to reduce the effects of brain-related injuries on an individual’s general brain health through physical and cognitive rest, symptom management, and gradual return to activities. Additionally, rising traffic accidents have also increased the occurrence of brain injuries. For instance, in January 2023, according to the article published by the NCBI (National Center for Biotechnology Information) a US-based agency for biomedical and genomic information, every year in the United States, an estimated 1.7 million people experience traumatic brain injuries, with 15 to 19-year-olds and seniors 65 and older having the highest risk of suffering one. For instance, in March 2023, according to the American Society of Clinical Oncology, in the US, primary malignant tumors of the brain and spinal cord are expected to affect 24,810 people (14,280 men and 10,530 women) in 2020. Further, brain tumors make up 85% to 90% of all cases. Therefore, the increase in the prevalence of brain injuries is driving the growth of the concussion market.

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The concussion market covered in this report is segmented –

1) By Assessment: Diagnosis, Treatment

2) By Device: Imaging Devices, Magnetic Resonance Imaging (MRI) Devices, X-Ray, Computed Tomography, Monitoring Devices, Other Devices

3) By End User: Hospitals And Clinics, Diagnostic Centers, Medical Camps, Other End-Users

Product Innovation is the key trend gaining popularity in the concussion market. Major companies involved in the concussion market are focused on innovating new products to improve their observation power and sustain their position in the market. For Instance, In May 2022, TecTraum Inc., a US-based designer and developer of medical devices, and Nottingham-Spirk Design Associates Inc., a US-based product design firm, developed pro2cool, which provides the world’s first point-of-care treatment for concussions and is the world’s first-ever medical device treatment for concussions. The pro2cool system is a revolutionary, noninvasive hypothermic treatment device that is intended to lessen the severity of concussion symptoms and allow patients to recover to their pre-injury baseline as quickly as possible. The gadget cools the head and neck locally, lowering blood temperature before it hits the brain. Previous clinical investigations found that chilling the brain within days following a concussion resulted in significant improvements in clinical results.

The concussion market report table of contents includes: