SAN FRANCISCO, Oct. 7, 2020 /PRNewswire/ -- The global concussion market size is anticipated to reach USD 8.9 billion by 2027, expanding at a CAGR of 3.6%, according to a new report by Grand View Research, Inc. Increasing number of injuries being caused to the brain resulting in a high prevalence of associated disorders such as concussion is driving the market in a positive manner.
Key suggestions from the report:
- On the basis of assessment and treatment, the treatment segment dominated the market with a revenue share of 51.4% in 2019. It is due to the growing number of falls and accidental cases worldwide, which result in traumatic brain injury. Due to this a large number of clinical trials are ongoing across the world in order to develop effective therapies such as BHR-100 to treat the injury
- North America dominated the market with the highest revenue share of 62.2% in 2019 owing to the growing awareness created by several government organizations regarding the prevention and management of traumatic brain injuries and favorable reimbursement policies in healthcare settings in the region
- In Asia Pacific, the market is expected to witness the highest CAGR of 5.0% from 2020 to 2027 owing to the increasing healthcare spending in most of the Asian countries
Read 100 page research report with ToC on "Concussion Market Size, Share & Trends Analysis Report By Assessment & Treatment (Diagnosis, Treatment), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/concussion-market
Falls and sports injuries followed by motor vehicle accidents are the leading causes of hospitalization in patients with concussion. As per the Centers for Disease Control and Prevention (CDC), an estimated 56,000 seniors are hospitalized every year as a result of mild head injuries (concussions) suffered due to accidental falls. This is anticipated to boost market growth over the forecast period.
In addition, several awareness campaigns and initiatives throughout the world to raise awareness related to concussion are collectively responsible for market growth. For instance, the Defense and Veterans Brain Injury Center offers online education for both civilians and military officers to learn about traumatic brain injuries in order to promote the best possible care for service members and veterans.
Furthermore, key players are adopting various strategies such as collaborations and new product launches to increase their market share. This is likely to boost market growth during the forecast period. For instance, in 2019, Nihon Kohden launched a wireless Electroencephalogram (EEG) headset in the U.S, which is intended to assess brain activity in unconscious patients.
Grand View Research has segmented the global concussion market based on assessment and treatment, and region:
- Concussion Assessment and Treatment Outlook (Revenue, USD Million, 2016 - 2027)
- Magnetic Resonance Imaging (MRI) Devices
- Computed Tomography (CT) Scan
- Concussion Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Concussion Market
- Nihon Kohden Corporation
- Compumedics Ltd.
- Integra Lifesciences
- BioDirection, Inc.
- InfraScan, Inc.
- Raumedic AG
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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