New York, USA, Jan. 30, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global traumatic brain injuries assessment market is predicted to generate a revenue of $18,373.6 million and grow at a CAGR of 7.0% during the analysis period from 2022 to 2031.
As per our analysts, with the growing advancement in drug treatments for traumatic brain injuries all around the world, the traumatic brain injuries assessment market is predicted to experience rising growth during the analysis timeframe. Besides, the rising health awareness programs and campaigns which inspire individuals to take better care of their health are further expected to bolster the growth of the market over the forecast period. Moreover, the high demand for non-invasive technologies, increase in sports injuries, and rise in TBI awareness are expected to create huge growth opportunities for the market during the estimated period. However, the delayed diagnosis and low government funding for TBI treatment may hinder the growth of the market throughout the forecast period.
Segments of the Traumatic Brain Injuries Assessment Market
The report has divided the market into segments based on end-user, diagnostic type, and region.
End-User: Hospital Sub-Segment to be Most Productive
The end-user sub-segment is expected to hold the largest share of the market over the analysis period. This is mainly due to the increasing pervasiveness of TBI patients all across the globe. Moreover, the hospitals are well-equipped with cutting-edge technology that is utilized by qualified neurologists is the factor expected to fortify the growth of the market sub-segment during the forecast timeframe.
Diagnostic Type: CT-Scan Sub-Segment to be Most Profitable
The CT-Scan sub-segment is predicted to hold the maximum share of the market during the estimated timeframe. The increasing reliance on CT-scan to detect skull fractures, brain edema, bleeding, and chronic neurologic issues are expected to foster the growth of the market sub-segment during the analysis timeframe.
Region: North America Region to Have Extensive Growth Opportunities
The North America region of the traumatic brain injuries assessment market is predicted to hold the greatest share of the market throughout the forecast period. This is mainly because of the higher prevalence of TBIs across the region. Moreover, the increasing government initiatives and the growing awareness-raising campaigns for brain injuries in this region are expected to drive the regional growth of the market during the estimated timeframe.
Covid-19 Impact on the Traumatic Brain Injuries Assessment Market
The outbreak of the Covid-19 pandemic has had a negative impact on the traumatic brain injuries assessment market. Due to the spontaneous spread of the deadly virus, people restricted themselves at home which reduced the cases of brain injuries caused by car accidents. Moreover, because of prolonged lockdowns, people delayed their visits to doctor’s offices until an emergency. In addition, shortages of staff, accumulated stock, and various other problems for traumatic brain injury treatments have declined the growth of the market during the pandemic period.
Key Players of the Market
The major players of the traumatic brain injuries assessment market include
- InfraScan Inc.
- Compumedics Ltd.
- Elekta
- Oculogica
- Nihon Kohden Corp.
- Raumedic AG
- BioDirection, Inc.
- Koninklijke Philips N.V
- Integra Lifesciences
- Boston Scientific Corporation
These players are broadly working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry.
For instance, in November 2021, BioDirection Company, a privately held medical device company developing novel and rapid point-of-care products for the objective diagnosis and management of traumatic brain injury (TBI) launched its new product namely, NanoDx System. It is a rapid point-of-care testing system that can precisely confirm concussion or TBI in less than 2 minutes.
Further, the report also presents other crucial aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about Traumatic Brain Injuries Assessment Market:
- A Quick Look at the 3 Different Types of Traumatic Brain Injuries Assessment Techniques
- Global Traumatic Brain Injuries Assessment Market to Witness Extensive Growth with Increasing Cases of Car Accidents
