Market Trends of Artificial Coma/Medically Induced Coma Industry
The Traumatic Brain Injury Segment is Expected to Witness a Positive Growth During the Forecast Period
Traumatic brain injuries (TBIs) include car and motorcycle accidents, sports injuries, abusive head trauma, gunshot wounds, and workplace injuries. The TBI segment is expected to witness significant growth in the studied market owing to the increase in the burden of TBIs across the globe and the rise in medically induced coma for TBI-related surgical procedures.
For instance, according to the study published in UpToDate Journal in May 2023, traumatic brain injury represents a significant challenge to global health and productivity, and the current global estimates indicate an annual incidence of TBI ranging from 27 to 69 million cases. Hence, with such a high number of people facing TBIs, there is a rise in demand for proper artificial coma proceedings for the patient to conduct significant surgeries on the brain.
Furthermore, increasing government initiatives to support TBI patients is expected to bolster the segment growth over the study period. For instance, in March 2023, the FY23 Defense Appropriations Act allocated funds to the Traumatic Brain Injury and Psychological Health Research Program (TBIPHRP). This funding aims to bolster research efforts focused on enhancing the treatment, prevention, and early detection of traumatic brain injuries (TBIs) while also advancing psychological health.
Thus, owing to the increase in TBIs and the increase in government investment in TBI-related research and development, the studied segment is expected to witness significant growth over the forecast period.
North America is Expected to Witness a Significant Growth During the Forecast Period
North America is expected to witness significant market growth owing to better healthcare infrastructure and the presence of major industry players. Moreover, an increase in the prevalence of brain tumors is further expected to bolster market growth. For instance, as per the May 2022 update by the Canadian Cancer Society, 3,200 Canadians were diagnosed with brain and spinal cord cancer in Canada in 2022.
Furthermore, as per the May 2023 update by the Centers for Disease Control and Prevention, every year, more than 795,000 people in the United States have a stroke. About 610,000 of these are first or new strokes. High occurrence of stroke leads to brain complications, which require complex surgeries, which thereby utilize the artificially induced coma proceedings and thus lead to market growth over the forecast period.
Furthermore, the presence of key players and their strategic product launches are expected to augment the market growth in North America. For instance, in April 2022, Avet Pharmaceuticals Inc. launched its AB-rated generic equivalent of DIPRIVAN (Propofol) Injectable Emulsion USP under Propofol Injectable Emulsion, USP 10 mg/mL. This launch comes in three sizes, i.e., 20, 50, and 100 ml single patient-use vials. The company launched these products after receiving FDA approval for its abbreviated new drug application.
Thus, due to increased brain-related diseases and the rise in strategic product launches, North America is expected to witness significant growth over the forecast period.
