Market Research Report
Concussion Market Size, Share & Trends Analysis Report By Assessment & Treatment (Diagnosis, Treatment), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||963220|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Concussion Market Size, Share & Trends Analysis Report By Assessment & Treatment (Diagnosis, Treatment), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2020 - 2027|
|Published: September 30, 2020||Content info: 100 Pages||
Concussion Market Growth & Trends
The global concussion market size is anticipated to reach USD 8.9 billion by 2027, expanding at a CAGR of 3.6%, according to a new report by Grand View Research, Inc. Increasing number of injuries being caused to the brain resulting in a high prevalence of associated disorders such as concussion is driving the market in a positive manner.
Falls and sports injuries followed by motor vehicle accidents are the leading causes of hospitalization in patients with concussion. As per the Centers for Disease Control and Prevention (CDC), an estimated 56,000 seniors are hospitalized every year as a result of mild head injuries (concussions) suffered due to accidental falls. This is anticipated to boost market growth over the forecast period.
In addition, several awareness campaigns and initiatives throughout the world to raise awareness related to concussion are collectively responsible for market growth. For instance, the Defense and Veterans Brain Injury Center offers online education for both civilians and military officers to learn about traumatic brain injuries in order to promote the best possible care for service members and veterans.
Furthermore, key players are adopting various strategies such as collaborations and new product launches to increase their market share. This is likely to boost market growth during the forecast period. For instance, in 2019, Nihon Kohden launched a wireless Electroencephalogram (EEG) headset in the U.S, which is intended to assess brain activity in unconscious patients.
Concussion Market Report Highlights
On the basis of assessment and treatment, the treatment segment dominated the market with a revenue share of 51.4% in 2019. It is due to the growing number of falls and accidental cases worldwide, which result in traumatic brain injury. Due to this a large number of clinical trials are ongoing across the world in order to develop effective therapies such as BHR-100 to treat the injury
North America dominated the market with the highest revenue share of 62.2% in 2019 owing to the growing awareness created by several government organizations regarding the prevention and management of traumatic brain injuries and favorable reimbursement policies in healthcare settings in the region
In Asia Pacific, the market is expected to witness the highest CAGR of 5.0% from 2020 to 2027 owing to the increasing healthcare spending in most of the Asian countries.