Concussions or mild traumatic brain injury (mTBI) have received more attention in recent years, and not just in sports. As more people are becoming aware of the long-term effects of concussions, the diagnostic, treatment, and prevention concussion market is exploding.
Market Overview
The global concussion market has multiple sub-segments such as diagnostic instruments, therapy devices, rehabilitation services, and preventive measures. These market drivers are the rise of concussions in sports and other sports, the development of diagnostic technologies, and the growing awareness of the long-term impact of head injuries.
Key Market Trends
- Technologies for Diagnostic Testing: New diagnostic technologies like computerized tomography (CT) imaging, magnetic resonance imaging (MRI), and neurocognitive tests are speeding up concussion diagnosis.
- Increased Awareness and Prevention Campaigns: As the public is aware of the risks associated with concussions, there has been an increase in safety protocols and prevention campaigns, especially in sports.
- Orientation to Long-Term Effects: As the long-term consequences of concussions become increasingly known (for example, in the case of chronic traumatic encephalopathy (CTE), there is now a focus on early diagnosis and treatment to prevent them.
- Invention of New Treatments: New treatments are being developed using both drugs and new technologies, such as neurofeedback and transcranial magnetic stimulation, to alleviate concussion symptoms and recovery.
- Telehealth and Remote Monitoring: Telehealth and remote monitoring are being deployed to provide remote monitoring and diagnosis of concussion symptoms for patients in rural and underserved regions.
Market Size and Forecast
The market is expected to grow 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.
Frequently Asked Questions
Why is the market growing?
- Increasing incidence of concussions
- Advancements in diagnostic technologies
- Growing awareness and prevention initiatives
- Development of innovative therapies
- Telehealth and remote monitoring
What are the growth regions for the concussion market?
North America and Europe have established concussion care markets, but Asia-Pacific is growing fast because of increased sports usage and rising medical expenditure.
What is the concussion market up against?
- Lack of standardized diagnostic criteria
- Limited understanding of long-term consequences
- Severity of concussion difficult to measure.
- Diagnostic and treatment tests and treatments are very expensive.
What is the future of the concussion market?
- Wearables to track head impact in real-time, from a smartphone or computer.
- Artificial intelligence-powered diagnostic tools
- Treatment plans based on the patient's needs.
- Development of neuroprotective drugs
What are healthcare providers and technology companies doing to capitalize on the concussion market?
- Invest in RD to develop diagnostic and therapeutic technologies.
- Engage with sports leagues and school systems to educate and prevent concussions.
- Provide complete treatment, from diagnosis to treatment to rehabilitation.
- Create easy-to-use telehealth systems for remote monitoring and evaluation.
- Prioritize patient education and support
Concussion is set for massive growth thanks to awareness, technological advancements, and long-term health goals. Healthcare providers and tech firms can use the obstacles, and opportunities, to make a significant impact on people living with concussions.
