Outlook on the Concussion Global Market to 2028 – Funding for Concussion Management Presents Opportunities

Marion Steward

DUBLIN, March 21, 2022–(BUSINESS WIRE)–The “Concussion Market Forecast to 2028 – COVID-19 Impact and Regional Analysis By Type, End User, Geography” report has been added to ResearchAndMarkets.com’s offering.

The concussion market is expected to growth from US$ 7,211.89 million in 2021 to US$ 9,272.03 million by 2028. It is estimated to grow at a CAGR of 3.7% during 2021-2028.

According to the Centers for Disease Control and Prevention (CDC) a concussion is a type of traumatic brain injury-or TBI caused by a bump, blow, or jolt to the head or by a hit to the body causing the head and brain to move rapidly back and forth. The American Association of Neurological Surgeons report states that concussion symptoms can affect people in a variety of ways including vision, balance, and even mood.

The World Health Organization (WHO) report states that approximately 1.3 million people die annually due to head injuries in road crashes. Road traffic collisions are prevalent in low-middle income countries (LMICs). Currently, the highest incidence of concussion cases is reported in North America and Europe. The Journal of Neurosurgery states that almost 64-74 million individuals may suffer from concussion cases every year with the highest cases witnessed in Southeast Asian and Western Pacific regions.

According to the Brain Injury Research Institute’s report, nearly 1.6 – 3.8 million athletes suffer from concussions annually. A study by the American Academy of Pediatrics states that sports-related concussion cases are highest among high school athletes and on the rise among younger athletes. For instance, 10% of all contact sports athletes sustain concussions yearly. Also, an athlete who sustains concussions is four to six times more prone to experience a second concussion. Further, the Centers for Disease Control and Prevention (CDC) report states that an estimated 273,272 children aged 17 years or younger were treated in United States emergency departments (EDs) intended for nonfatal traumatic injuries (TBIs) related to sports and recreation in 2016.

Furthermore, the Centers for Disease Control and Prevention (CDC) report states that about 800,000 children are treated with concussion-related cases at EDs in the US. Also, in 2018, there were almost 223,050 TBI or concussion-related hospitalizations and 60,611 deaths in 2019. This represents more than 610 TBI-related hospitalizations and 166-TBI or concussion-related deaths per day. Population aging 75 years and older experience the highest numbers of TBI or concussion-related hospitalizations and deaths accounting for 32% of TBI or concussion hospitalization representing to 28% TBI or concussion associated deaths.

The American Psychological Association (APA) sanctioned protocols particularly for computer-based testing and interpretation for distinguishing promising advantages in a clinical setting. The primary advantage of computer-based testing for concussion involves greater access by the clinicians, compatibility with conventional testing forms, and cost-effectiveness. Progressive software programs such as CogSport, concussion resolution index (CRI), and immediate post-concussion assessment and cognitive testing (ImPact) offer valid and all-inclusive testing instruments for assessing cognitive symptoms associated with sports-related concussions.

The report of Frontiers S.A. states that concussion is a form of mild traumatic brain injury affecting thousands of Canadian children and adolescents annually. Timely access to primary and specialized care following the injury remains a challenge, especially in rural and remote communities. To overcome such challenging situations, telemedicine has emerged as an important tool for addressing disparities in healthcare accessibility for patients living in medically underserviced regions. This can be achieved with the proper establishment of novel telemedicine sites within established telemedicine networks; however, it can result in significant upfront capital costs for equipment, credentialing, and ongoing technical support and maintenance.

Reasons to Buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the concussion market.

  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the concussion market, thereby allowing players across the value chain to develop effective long-term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.

Market Dynamics

Drivers

Restraints

Opportunities

Future Trends

Companies Mentioned

  • Abbott

  • BrainScope Company Inc.

  • InfraScan, Inc.

  • NOVASIGNAL CORPORATION

  • Integra LifeSciences

  • NanoDiagnostics, Inc.

  • Medtronic

  • Elekta AB

  • Nihon Kohden Corporation

  • Compumedics Limited

For more information about this report visit https://www.researchandmarkets.com/r/o3joob.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220321005678/en/

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https://finance.yahoo.com/news/outlook-concussion-global-market-2028-151700380.html

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