Traumatic Brain Injuries Assessment Market Projected to Expand at a CAGR of 7.0% and Generate a Revenue of $18,373.6 million by 2031Download Sample Reports Overview
The global traumatic brain injuries assessment market size was $9,570 million in 2021 and is predicted to expand at a CAGR of 7.0%, generating a revenue of $18,373.6 million by 2031.
Impact Analysis of COVID-19 on the Traumatic Brain Injuries Assessment Market
Responses to upcoming pandemics can be improved with a better knowledge of the indirect impacts of the COVID-19 pandemic on patient presentation and treatment for brain trauma. TBIs happened throughout the early months of the pandemic at rates comparable to those of previous years, despite recommendations to stay at home. Researchers reported detrimental effects on patient treatment during the first four months of the pandemic. The number of patients with TBI actually reduced during the first eight weeks of the pandemic, but this was quickly followed by a noticeable increase during the next eight, and eventually, the rates of TBI were comparable between the pre-COVID-19 and COVID-19 periods.
The findings demonstrated that older patients with moderate to severe TBI were considerably more likely to die in hospitals if they had a coronavirus infection. The COVID-19 pandemic was used to research the epidemiology of TBI. The Netherlands, India, and the UK all reported a statistically significant decline in TBI incidence during the COVID-19 pandemic. The average number of cases during the COVID-19 pandemic and a comparable time period before COVID-19 have been compared in the studies that have been published. Secular trends are disregarded when comparing pre- and post-aggregates. It is assumed that the COVID-19 pandemic altered the occurrence of TBIs. Moreover, it is demonstrated that total TBI presentation rates during research period were comparable during the pandemic compared to the same period in 2017-2019. Such factors have boosted the global traumatic brain injuries assessment market share growth in the pandemic period.
Global Traumatic Brain Injuries Assessment Market Analysis
The rising number of traffic accidents is one of the major factors driving the market for TBI evaluation tools. According to the World Health Organization's most recent statistics, 1.3 million individuals worldwide lose their lives as a result of traffic accidents every year and between 20 and 30 million people worldwide experience non-fatal injuries. Many of these individuals end up disabled as a result of their injuries, such as TBI. The likelihood of head injuries, which can result in TBIS in people, thereby increases due to traffic accidents. The global traumatic brain injuries assessment market share as a whole may grow throughout the projected period due to a rise in demand for TBI assessment devices, which are used to diagnose brain injuries.
TBI affects 2% of the population in Canada and accounts for 18,000 hospital admissions each year, according to the most recent statistics provided by Brain Injury Canada. In addition, according to the same source and data as above, TBI affects 500 out of every 100,000 individuals annually, every day, out of around 165,000 people, 456 people in Canada are injured , or one person every three minutes. The prevalence of TBI is rising, which is increasing the need for TBI assessment tools and boosting the global traumatic brain injuries assessment market growth throughout the projection period.
The absence of home TBI device equipment and the high hospital cost per TBI patient; however, may limit the growth of the global traumatic brain injuries assessment market opportunity.
The COVID-19 pandemic also had a big impact on the market for TBI assessments. The widespread lockdown in almost every country limited movement, which decreased the number of traffic accidents resulting in TBI. Supply chains and logistics were also halted. The manufacturing process was hampered by the lack of labor at production sites. Lack of staff, masks, and PPE kits had a significant impact on patient admissions to hospitals for surgeries, even though TBI is a life-threatening condition that requires an urgent focus on the patient.
Global Traumatic Brain Injuries Assessment Market Size, Segmentation
The global traumatic brain injuries assessment market share is segmented on the basis of end-user, diagnostic type, and region.
The end user segment is classified into hospital, diagnostic center, and others. Among these, the hospital segment accounted for the highest market share in 2021 during the forecast period. Patients with TBIs incur high healthcare costs and a wide range of in-hospital expenses. Healthcare utilization and in-hospital expenses were high for patients with TBIs and varied greatly between trials. The duration of stay and surgical intervention were the primary drivers of costs, which rose with TBI severity. However, due to diversity and poor quality of the included studies, it was difficult to make conclusions about the real in-hospital expenditures of patients suffering from s-TBI. Future economic analyses should concentrate on the long-term cost-effectiveness of treatment plans and employ common data items and guideline suggestions to enhance study quality.
The diagnostic type segment is further classified into CT-Scan, MRI, intracranial pressure monitoring, partial pressure of oxygen in brain tissue (pBrO2), and others. Among these, the CT-Scan segment is anticipated to have a dominant market share during the forecast period. CT scan is especially useful for immediately examining patients who have internal damage from automobile accidents or other types of trauma. Nearly every region of the body can be seen using a CT scan, which is also used to plan medical, surgical, or radiation treatments as well as detect diseases and injuries.
North America is expected to continue to rule the market for TBI evaluation devices due to factors like the rise in senior population and TBI prevalence. There are more than 3.5 million brain injuries reported annually in the United States (one every nine seconds), according to the most recent numbers provided by the American Society for Biochemistry and Molecular Biology. North America now dominates the market for treating traumatic brain injuries, and this dominance is expected to grow during the forecast period due to the sizable target population and an increase in the number of people with traumatic brain injuries in this region.
Key Players in the Global Traumatic Brain Injuries Assessment Market
Some of the leading traumatic brain injuries assessment market players are
- Integra Lifesciences
- BioDirection, Inc.
- Nihon Kohden Corp.
- Compumedics Ltd.
- InfraScan, Inc.
- Raumedic AG
- Zagros Petrochemical Co.
- Koninklijke Philips N.V
- Boston Scientific Corporation
For instance, in December 2021, Abbott achieved CE Mark for its i-STAT TBI plasma test, the first rapid handheld traumatic brain injury (TBI) blood plasma test, which will allow marketing in the European Union and help doctors to evaluate individuals with suspected mild TBIs, including concussions. The test will function on Abbott’s handheld i-STAT Alinity platform. Results can be obtained in about 15 minutes after placing plasma in the test cartridge.