Market Trends of Global Traumatic Brain Injury Assessment and Management Devices Industry
This section covers the major market trends shaping the Traumatic Brain Injury Assessment & Management Devices Market according to our research experts:
The Hospitals Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Hospitals are the primary care settings for diagnosing and treating medical conditions, including traumatic brain injury. A significant proportion of the population depends on long-term care facilities to diagnose, manage, and treat different brain injuries. Moreover, the increasing number of brain injury cases due to road accidents and sports-related brain injuries, leading to an increase in several patient visits for surgery and rehabilitation procedures in hospitals, indicates the high demand for treatment in hospitals.
Furthermore, the growing number of hospitals for patient care is expected to boost segment growth. For instance, in October 2021, Penn Medicine launched a new hospital, Pavillion, in the United States. The hospital provides inpatient care for cardiology and cardiac surgery, medical and surgical oncology, neurology and neurosurgery, and transplant surgery. Also, in September 2020, the Prime Minister of India, Shri Narendra Modi, approved the establishment of a new All India Institute of Medical Sciences (AIIMS) in Darbhanga, Bihar, which offers various services for traumatic injury and child neurology.
North America is Expected to Hold a Significant Share in the Market in the Forecast Period
The market is expected to grow significantly during the forecast period owing to factors such as the rising incidence of mild brain traumatic injuries and initiatives by market players. According to a StatPearls article published in January 2022, traumatic brain injury affects around 1.7 million people in the United States each year, with adolescents aged 15 to 19 years and adults aged 65 years and older being the most likely to develop TBI. In addition, as per the same source, there are 500 traumatic brain injuries per 100,000 people in the United States each year. To lessen the long-term effects of the population's increasing rate of traumatic injuries, improved care, and ongoing patient monitoring are required, which will spur market expansion.
Additionally, according to National Highway Traffic Safety Administration data for 2021 from the United States Department of Transportation, there were an estimated 20,160 traffic fatalities in the first half of 2021 in the United States, up 18.4% from the prior year. Therefore, the rising number of traffic accidents is likely to result in patients suffering from traumatic brain injuries who need ongoing care, which is anticipated to drive market growth.
Furthermore, the presence of significant market participants in the nation and the rise in product approvals are important growth factors for the market. For instance, the i-STAT Alinity platform, an immediate handheld traumatic brain injury (TBI) blood test gadget, was approved by the US FDA in January 2021. Similarly, in March 2021, BrainScope announced the release of its third innovative FDA-cleared algorithm for use with the BrainScope device. The Concussion Index is the first physiological marker of concussive damage that helps doctors objectively examine patients at baseline, at the moment of injury, and during recovery.
Global Traumatic Brain Injury Assessment and Management Devices Report Snapshots
- Global Traumatic Brain Injury Assessment and Management Devices Market Size
- Global Traumatic Brain Injury Assessment and Management Devices Market Share
- Global Traumatic Brain Injury Assessment and Management Devices Market Trends
- Global Traumatic Brain Injury Assessment and Management Devices Companies
