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Traumatic Brain Injury (TBI) Assessment Devices Market By Device Type (Imaging Devices And Monitoring Devices), By Technology (Intracranial Pressure (ICP) Monitoring And Partial Pressure Of Oxygen In Brain Tissue), By End-User (Hospitals, Diagnostic Centers, And Others), and by geography is expected to grow at a steady CAGR forecast till 2027 owing to the increasing road traffic accident cases and the increasing prevalence of traumatic brain injury (TBI)
The global Traumatic Brain Injury (TBI) assessment devices market was valued at USD 2.8 billion in 2021, growing at a CAGR of 8.57% during the forecast period from 2022 to 2027 to reach USD 4.57 billion by 2027. The Traumatic Brain Injury (TBI) assessment devices market is witnessing a positive growth owing to the various factors such as the increasing road traffic crashes cases, increasing prevalence of TBI, rising geriatric population, and increasing regulatory approvals & launches of Traumatic Brain Injury (TBI) assessment devices. Therefore, the market for TBI assessment devices is estimated to grow at a significant CAGR during the forecast period from 2022 to 2027.
Traumatic Brain Injury (TBI) Assessment Devices Market Dynamics:
One of the main drivers of the TBI assessment devices market is the increasing road traffic crash cases. As per the latest data published by World Health Organization (WHO) in the year 2022, road traffic collisions claim the lives of around 1.3 million people each year worldwide. Additionally, as per the above referenced source, worldwide, between 20-30 million people sustain non-fatal injuries while many of them suffer with a disability as a result of their injury such as TBI. Thus, road accidents increases the chances of head injuries which can cause TBI in people. Therefore, TBI assessment devices are used to diagnose brain injuries, this could increase the demand for TBI assessment devices, which can drive the TBI assessment devices overall market forward during the forecast period (2022-2027).
Moreover, another key factor which is responsible for the growth of traumatic brain injury (TBI) assessment devices market is the increasing prevalence of TBI. As per the latest data published by Brain Injury Canada in the year 2020, in Canada, 2% of the population was suffering from TBI, and approximately 18,000 people are hospitalized every year due to TBI. Moreover, as per the same source and statistics mentioned above, TBI affects 500 people out of 100,000 people each year, which is equal to about 165,000 people, 456 person wounded every day in Canada, or one person in every three minutes. Therefore, the increasing prevalence of TBI, can escalate the demand for TBI assessment devices, expanding the TBI assessment devices overall market growth during the forecast period (2022-2027).
Therefore, the factors stated above, could collectively drive the overall TBI assessment devices market during the forecast period from 2022-2027.
However, the high hospital cost per TBI patient and the lack of home equipment associated with TBI devices can hamper the global TBI assessment devices market growth
Additionally, the ongoing COVID-19 pandemic has significantly impacted the TBI assessment market. The nationwide lockdown in almost every country, restricted the movement of people which reduced the number of road injuries causing TBI, supply chains & logistics were halted, unavailability of the workforce at the production sites hampered the manufacturing process, lack of staff, shortage of masks and PPE kits made a huge impact on patient admissions in hospitals for surgeries whereas TBI is life-threatening therefore it needs an urgent attention towards the patient. However, with masses being vaccinated, relaxation in lockdown restrictions, resumption of supply chains, logistics & manufacturing units, increase in the number of surgeries, availability of masks, PPE kits and staff the TBI assessment devices market has picked momentum and is expected to further grow during the forecast period.
Traumatic Brain Injury (TBI) Assessment Devices Market Segment Analysis:
Traumatic Brain Injury (TBI) Assessment Devices Market by Device Type (Imaging Devices and Monitoring Devices), Technology (Intracranial Pressure (ICP) Monitoring and Partial Pressure of Oxygen in Brain Tissue), End-User (Hospitals, Diagnostic Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)
In by device type segment of Traumatic Brain Injury (TBI) assessment devices market, imaging devices are expected to hold a significant revenue share in the year 2021. The key attributes which supports the market are, by using TBI imaging devices, the doctors can view a clear image of the patients brain to have a check on any brain injury, fracture, swelling of the tissue or bleeding. A clear image taken by these imaging devices allow the doctors to have a better grasp of the situation. Furthermore, physicians can precisely forecast the chance of patients contracting a condition as well as these devices can be used in complicated surgeries such as in TBI. Moreover, imaging devices such as Computed Tomography (CT) scan, Positron Emission Tomography (PET), Electroencephalography (EEG), and others are considered to be safe and effective.
Therefore, the benefits associated with imaging devices, will increase Traumatic Brain Injury (TBI) assessment devices demand, which can drive the growth of overall TBI assessment devices market during the forecast period. However, the rise in the regulatory approval for technologically advanced TBI assessment devices, is also driving the market growth. For instance, in October 2021, SyncThink, a neuro-technology company, had received FDA clearance for its digital AI-backed system, called the EYE-SYNC, to be used as an Aid to Concussion or mild Traumatic Brain injury (mTBI) diagnosis. The product was cleared for "recording, viewing, and analyzing eye movements in support of identifying visual tracking impairments in the brain.
Moreover, due to the interplay of all the factors mentioned above, this can result in the rising demand for Traumatic Brain Injury (TBI) assessment devices, which in turn would provide a conducive growth environment for overall Traumatic Brain Injury (TBI) assessment devices during the market forecast 2022-2027.
North America is expected to dominate the overall Traumatic Brain Injury (TBI) Assessment Devices Market:
Among all the regions, North America is expected to dominate the global TBI assessment devices market in the year 2021 and is expected to do the same during the forecast period from 2022-2027. Factors such as the increasing prevalence of TBI and rising geriatric population are expected to increase the TBI assessment devices in the North America market.
As per the latest statistics published by the American Society for Biochemistry and Molecular Biology in the year 2021, in the United States, a brain injury occurs every nine seconds, resulting in more than 3.5 million incidents each year. Moreover, as per the above referenced source and statistics, about 2.8 million people suffer from Traumatic Brain Injury (TBI) each year in the United States from which 2,80,000 people results in hospitalizations. Thus, due to the increasing prevalence of TBI, TBI assessment devices demand can also increase, which could drive the overall TBI assessment devices market forward over the forecast period (2022-2027).
Moreover, according to the data published by Administration for Community Living in the year 2021, in the year 2019, in United States, the number of people aged 65 and above were 54.1 million. Thus, TBI is a major risk factor for aging population, this can boost the TBI assessment devices market demand, which in turn would provide a conducive growth environment for overall Traumatic Brain Injury (TBI) assessment devices during the market forecast 2022-2027.
Therefore, the interplay of the aforementioned factors above, would provide a favourable growth environment for the North American region in the Traumatic brain injury (TBI) assessment devices market.
Traumatic Brain Injury (TBI) Assessment Devices Market Key Players:
Some of the key market players operating in the Traumatic brain injury (TBI) assessment devices market include BrainScope Company Inc, NOVASIGNAL CORPORATION, Compumedics Limited, Integra LifeSciences Corporation, Natus Medical Incorporated, InfraScan Inc, Dr. Langer Medical GmbH, RAUMEDIC AG, SyncThink Inc, Imeka, General Electric Company, pro2cool Tectrum, NanoDx, NIHON KOHDEN CORPORATION, Elekta, Advanced Brain Monitoring Inc, Boston Scientific Corporation, ESAOTE SPA, Koninklijke Philips N.V, Vivonics Inc., and among others.
Recent Developmental Activities in the Traumatic Brain Injury (TBI) Assessment Devices:
- In December 2021, Abbott achieved CE Mark for its i-STAT TBI Plasma test, the first rapid handheld traumatic brain injury (TBI) blood plasma test, which allows marketing in the European Union and will help doctors to evaluate individuals with suspected mild TBIs, including concussions. The test will function on Abbott's handheld i-STAT Alinity platform. After placing plasma in the test cartridge, results can be obtained in about 15 minutes.
- In March 2021, BrainScope, a medical neuro-technology company utilizing EEG technology to assess the full spectrum of mild traumatic brain injury, including functional injuries, and structural injuries, launched next-gen medical device: the First and only FDA-cleared system in U.S. for true point-of-care assessment of both concussion and brain bleeds now includes concussion Index, only brain activity-based biomarker for quick, objective baselining and assessment of concussion at injury and recovery time points.
- In January 2021, Abbott, a global healthcare, gained the US Food and Drug Administration (FDA) 510(k) approval for its i-STAT Alinity Plasma Test, its a rapid handheld blood test to detect traumatic brain injury (TBI), including concussions.
Key Takeaways from the Traumatic Brain Injury (TBI) Assessment Devices Market Report Study:
- Market size analysis for current Traumatic Brain Injury (TBI) assessment devices market (2021), and market forecast for 5 years (2022-2027)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Traumatic Brain Injury (TBI) assessment devices market.
- Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years.
- Key companies dominating the global Traumatic Brain Injury (TBI) assessment devices
- Various opportunities available for the other competitor in the Traumatic Brain Injury (TBI) assessment devices market space.
- What are the top performing segments in 2021? How these segments will perform in 2027.
- Which are the top-performing regions and countries in the current Traumatic Brain Injury (TBI) assessment devices market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Traumatic Brain Injury (TBI) assessment devices market growth in the coming future?
Target Audience who can be benefited from this Traumatic Brain Injury (TBI) Assessment Devices Market Report Study
- Traumatic Brain Injury (TBI) assessment devices providers
- Research organizations and consulting companies
- Traumatic Brain Injury (TBI) assessment devices-related organizations, associations, forums, and other alliances
- Government and corporate offices
- Start-up companies, venture capitalists, and private equity firms
- Distributors and traders dealing in Traumatic Brain Injury (TBI) assessment devices
- Various end-users who want to know more about the Traumatic Brain Injury (TBI) assessment devices market and latest technological developments in the Traumatic Brain Injury (TBI) assessment devices
Frequently Asked Questions for Traumatic Brain Injury (TBI) Assessment Devices:
1. What are Traumatic Brain Injury (TBI) Assessment Devices?
Traumatic Brain Injury (TBI) Assessment Devices are used to assess injury in the brain with the help of imaging or monitoring device. Injuries can be caused due to road crashes, violence, falls, sports injuries and others.
2. What is the market for Global Traumatic Brain Injury (TBI) Assessment Devices?
The global Traumatic Brain Injury (TBI) assessment devices market was valued at USD 2.8 billion in 2021, growing at a CAGR of 8.57% during the forecast period from 2022 to 2027 to reach USD 4.57 billion by 2027.
3. What are the drivers for the Global Traumatic Brain Injury (TBI) Assessment Devices market?
The Traumatic Brain Injury (TBI) Assessment Devices market is witnessing a positive market growth owing to the factors such as, the increasing road traffic crashes cases, increasing prevalence of TBI, rising geriatric population, and increasing regulatory approvals & launches of Traumatic Brain Injury (TBI) assessment devices.
4. Who are the key players operating in the Traumatic Brain Injury (TBI) Assessment Devices market?
Some of the key market players operating in the Traumatic Brain Injury (TBI) Assessment Devices market include BrainScope Company Inc, NOVASIGNAL CORPORATION, Compumedics Limited, Integra LifeSciences Corporation, Natus Medical Incorporated, InfraScan Inc, Dr. Langer Medical GmbH, RAUMEDIC AG, SyncThink Inc, Imeka, General Electric Company, pro2cool Tectrum, NanoDx, NIHON KOHDEN CORPORATION, Elekta, Advanced Brain Monitoring Inc, Boston Scientific Corporation, ESAOTE SPA, Koninklijke Philips N.V, Vivonics Inc, and among others.
5. Which region has the highest share in Traumatic Brain Injury (TBI) Assessment Devices Market?
North America is expected to dominate the global Traumatic Brain Injury (TBI) Assessment Devices market. Factors contributing to the growth are increasing prevalence of TBI and rising geriatric population market in the North America region.