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Traumatic Brain Injury Assessment and Management Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

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  • 110 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5119915

Quick Summary:

Thriving amid a dynamic healthcare landscape, the compelling growth trajectory of the traumatic brain injury assessment and management devices market cannot be overlooked. The industry spawns noteworthy opportunities, underpinned by an increasing incidence of traumatic brain injuries and ongoing initiatives by key market players.

As hospitals remain pivotal for diagnosis and treatment, the prevalence of traumatic brain injuries in regions like North America unveils significant possibilities for expansion. In addition, the market landscape is unmistakably influenced by innovative measures taken by leading players, from mergers and acquisitions to path-breaking product launches and approvals. This report explores these nuanced factors with an eye to guiding strategic direction in this promising market. However, it is crucial to note that the upsurge in cutting-edge devices also translates to higher costs, which may inhibit market growth.

The traumatic brain injury assessment and management devices market is expected to register a CAGR of 5.4% during the forecast period.

The COVID-19 pandemic has had widespread consequences for healthcare systems around the world. It resulted in extensive changes to the referral patterns, management, and rehabilitation of surgical conditions. For instance, according to an article published in World Neurosurgery in December 2021 on traumatic brain injury (TBI), surgical management was significantly reduced in the United Kingdom, and TBI patients were more likely to be managed locally with neurosurgical assistance outside of the neurosurgical facility during the pandemic.

Restrictions put in place by the government during COVID-19 disrupted the management of TBI patients. Additionally, traumatic brain injury instances have dramatically decreased as a result of COVID-19 limits. For instance, as per the same study mentioned above, road traffic accident (RTA)-related fatalities decreased by 22% in the UK between the pandemic period and the same period the previous year. As a result, the decrease in TBI incidence during the pandemic hampered the growth of the studied market. However, since the lockdown restrictions were lifted, the industry has been recovering well. The demand for surgical operations, treatments, and hospital visits rises as procedures are resumed, which is expected to increase the demand for TBI assessment and management devices over the forecast period.

Certain factors driving the market growth include the increasing incidence of traumatic brain injuries and initiatives by key market players. In April 2022, the BMJ Journals published an article stating that India is responsible for 21% of all new traumatic brain injury cases and nearly a quarter of all traumatic death cases worldwide. Additionally, according to a study published in the Clinical Medicine Journal in March 2021, TBI is a major and developing health issue in the United Kingdom. TBI is responsible for around 900,000 emergency department (ED) visits and over 200,000 hospital admissions in England each year and the rate of severe head imhury is between 10% and 20%. Thus, significant burden of TBI in England is expected to increase the demand for TBI assessment and management devices, which is likely to boost the market growth.

Furthermore, initiatives by key market players such as mergers and acquisitions, product approval as well as launches, are other factors contributing to the market growth. For instance, in February 2021, the US FDA approved the commercialization of a novel gadget designed to be worn around the neck of athletes aged 13 years and above during sporting activities to help protect the brain from the consequences of repetitive sub-concussive head blows. The Q-Collar is a non-invasive C-shaped collar that applies compressive force to the neck and increases blood volume to help reduce brain movement within the cranial space after a head trauma. The gadget may lessen the occurrence of specific brain abnormalities linked with brain injury.

However, the high cost of advanced devices is expected to hinder market growth.

Traumatic Brain Injury Assessment & Management Devices Market Trends

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.

Traumatic Brain Injury Assessment & Management Devices Market Competitor Analysis

The traumatic brain injury assessment and management devices market is competitive and consists of a few major players. Companies like NanoDx, Inc., BrainScope, Compumedics, Elekta AB, Integra Lifesciences, Natus Medical Incorporated, Neural Analytics, Inc., Nihon Kohden Corporation, among others, hold a substantial market share in the market.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Incidence of Traumatic Brain Injuries
4.2.2 Technological Advancements
4.3 Market Restraints
4.3.1 High Cost of Devices
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Device Type
5.1.1 Imaging Devices
5.1.2 Pressure Monitors
5.1.3 Point-of-Care Testing Devices
5.1.4 Other Device Types
5.2 By End User
5.2.1 Hospitals
5.2.2 Diagnostic Centers
5.2.3 Other End Users
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Advanced Brain Monitoring, Inc
6.1.2 BrainScope
6.1.3 Compumedics
6.1.4 Elekta AB
6.1.5 NanoDx, Inc.
6.1.6 Integra Lifesciences
6.1.7 Natus Medical Incorporated
6.1.8 Nihon Kohden Corporation
6.1.9 Raumedic AG
6.1.10 InfraScan, Inc.
6.1.11 NovaSignal Corporation
6.1.12 SyncThink Inc,

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Advanced Brain Monitoring, Inc
  • BrainScope
  • Compumedics
  • Elekta AB
  • NanoDx, Inc.
  • Integra Lifesciences
  • Natus Medical Incorporated
  • Nihon Kohden Corporation
  • Raumedic AG
  • InfraScan, Inc.
  • NovaSignal Corporation
  • SyncThink Inc,