The global Traumatic Brain Injury Assessment & Management Devices market size is expected to be worth around US$ 6.5 billion by 2030, according to a new report by Vision Research Reports.
The global Traumatic Brain Injury Assessment & Management Devices market size was valued at US$ 2.11 billion in 2020 and is anticipated to grow at a CAGR of 8.15% during forecast period 2021 to 2030.
Increasing incidence of traumatic brain injuries (TBIs) and rising awareness about TBIs are driving the market.
Traumatic brain injuries are a serious public health concern and every year, it contributes a significant number of cases globally. Falls are one of the leading causes of hospitalization among TBI patients, followed by motor vehicle accidents. According to the CDC, presently 3.5 million people are living with permanent TBI-related disability in the U.S. Thus, increasing incidence of TBIs due to mounting cases of road accidents and injuries is expected to fuel the demand for TBIs assessment and management devices.
Moreover, the COVID-19 pandemic has in20creased the demand for TBIs assessment and management devices. As per the research study published in the NCBI report 2020, certain patients hospitalized for coronavirus infection showed clinical and neurochemical signs of brain injury. This is expected to boost the market growth.
The imaging devices segment dominated the market with a share of 54.04% in 2020. The imaging devices are further segmented into computed tomography (CT), magnetic resonance imaging (MRI) devices, X-ray, and others. Due to higher sensitivity, imaging devices are widely used to assess patients with a mild or severe traumatic brain injury. Thus, increasing applications in the diagnosis and staging of neurological diseases and disorders, particularly TBIs, are expected to fuel the segment growth. Based on the device, the market is segmented into imaging devices and monitoring devices.
The monitoring devices segment is expected to expand at the highest CAGR of 8.6% from 2021 to 2028 owing to the minimally invasive nature of these devices, increasing awareness, and improvement in healthcare facilities. Moreover, increasing patients’ preference for non-invasive procedures, the high preference among physicians for brain disease progression monitoring, and higher accuracy of these devices are expected to drive the segment during the forecast period.
The intracranial pressure (ICP) monitoring segment dominated the market with a share of 54.61% in 2020. This method is considered to be a gold standard for the accurate measurement of intracranial pressure in patients with severe brain injury. Several studies have recommended that raised ICP is the common cause of death in patients with traumatic brain injury. Therefore, continuous ICP monitoring helps in keeping the pressure levels in the normal range and provides early and effective treatment. Thus, advantages offered by ICP monitoring and the increasing number of patients with TBIs are expected to boost the market growth. On the basis of technique, the market is segmented into ICP monitoring and partial pressure of oxygen in brain tissue (pBrO2).
The partial pressure of oxygen in the brain tissue (pBrO2) segment is expected to expand at the highest CAGR of 8.7% from 2021 to 2028. Continuous pBrO2 monitoring provides timely information about cerebral oxygen demand in patients suffering from traumatic brain injury. The pBrO2 monitoring systems provide continuous monitoring of partial pressure of oxygen in brain tissue, thus providing an early indication of hypoxic events. Thus, these factors are anticipated to boost the growth of the partial pressure of oxygen in brain tissue segment during the forecast period.
The hospitals' segment dominated the market with a share of 43.17% in 2020 owing to the increase in the number of brain surgeries performed in hospitals as well as a surge in the prevalence of TBIs patients globally. Moreover, hospitals are well equipped with the technologically advanced devices that are being used by a professional neurologist, thus further boosting the segment growth. By end-use, the TBIs assessment and management devices market is segmented into hospitals, diagnostic centers, and others.
The others' segment including research centers, and emergency clinics is expected to expand at the highest CAGR of 8.7% from 2021 to 2028. This is attributed to numerous advantages offered by emergency clinics and ASCs such as shorter procedure time and same-day discharge as compared to hospitals. Furthermore, most brain surgeries can now be performed at ambulatory surgical centers as these procedures turn out to be more advanced and less invasive. Thus, the growth of the others' segment is majorly attributed to inexpensive and ongoing advancements in minimally invasive surgical techniques as well as shorter procedure time.
North America dominated the market with a share of 52.73% in 2020. This is attributed to the presence of well-established healthcare facilities in the region, increasing government initiatives, awareness campaigns regarding brain injuries, and greater incidence of traumatic brain injuries in the region. For instance, as per the CDC, an expected 2.87 million individuals in the U.S. sustain brain injuries and 1.5 million Americans sustain a TBI annually. In the U.S., at present, more than 5.3 million people are living with a permanent TBI-related disability. These incidence rates involve around 2.5 million TBI-related emergency department visits, 288,000 hospitalizations, and 56,800 deaths. This is eventually contributing to the market growth in the region.
The Asia Pacific region is expected to expand at the highest CAGR of 9.9% from 2021 to 2028. This is attributed to factors such as growth in the aging population, rise in the number of people suffering from traumatic brain injuries, increasing incidence of road accidents, and violence. For instance, according to the Ministry of Road Transport and Highways, Government of India, around 4.5 million people were injured in road accidents in 2016. This number has increased by 25.6% from 2007 to 2017. Additionally, growing patient affordability has resulted in a significant number of interventional procedures in the Asia Pacific region.
BrainScope Company, Inc.
Neural Analytics, Inc.
Advanced Brain Monitoring Inc.
Natus Medical, Inc.
Nihon Kohden Corporation
Magnetic Resonance Imaging (MRI) Devices
Intracranial Pressure (ICP) Monitoring
Partial Pressure of Oxygen in Brain Tissue (pBrO2)
Middle East and Africa (MEA)
The Traumatic Brain Injury Assessment & Management Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Traumatic Brain Injury Assessment & Management Devices market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Traumatic Brain Injury Assessment & Management Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Traumatic Brain Injury Assessment & Management Devices market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Traumatic Brain Injury Assessment & Management Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Traumatic Brain Injury Assessment & Management Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Traumatic Brain Injury Assessment & Management Devices by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Traumatic Brain Injury Assessment & Management Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Traumatic Brain Injury Assessment & Management Devices market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Traumatic Brain Injury Assessment & Management Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Traumatic Brain Injury Assessment & Management Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Traumatic Brain Injury Assessment & Management Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Traumatic Brain Injury Assessment & Management Devices market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Traumatic Brain Injury Assessment & Management Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Traumatic Brain Injury Assessment & Management Devices market. These factors have benefited the growth of the global market for Traumatic Brain Injury Assessment & Management Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Traumatic Brain Injury Assessment & Management Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Traumatic Brain Injury Assessment & Management Devices are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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