Concussion Market Size, Share & Trends Analysis Report By Type (Mild Concussion, Moderate Concussion, Severe Concussion), By Diagnosis (Magnetic Resonance Imaging (MRI) Devices, Computed Tomography (CT) Scan, X-ray, Others), By Treatment (Medications, Therapies, Others), By End-User (Hospitals and Clinics, Diagnostic Centers, Medical Camps, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Market Overview

The global concussion market size was valued at USD 7.80 million in 2023 and it is expected reach USD 10.44 billion by 2032, growing at a 3.7 % CAGR during the forecast period. Factors such as increasing number of mild traumatic injuries cases to drive the concussion market growth.

A concussion is a mild traumatic brain injury temporarily disrupting the brain's normal function. Generally, concussions are induced by a blow or jolt to the brain. However, it may occur from a hit to the body, which produces a reflex force to the head. In falls, sports, and car accidents, concussions are primarily seen. Factors such as the increasing incidence of mild traumatic brain injuries, ongoing product development, and rapidly growing geriatric population are expected to enhance the market growth.

Market Dynamics

Increasing Number of Mild Traumatic Injuries Cases to Drive the Market Growth

The global concussion market is primarily driven by the increasing incidence of mild traumatic brain injuries and a growing number of geriatric populations worldwide. According to a recent survey conducted by the University of Pittsburgh's Brain Trauma Research Center, over 62,000 concussion injuries are sustained in high school contact sports every year in the U.S. Besides, the global incidence of TBI is equivalent to 10 million people annually, according to the World Health Organization (WHO). Therefore, the increasing prevalence of mild traumatic injuries is expected to provide a favorable push to the market to grow over the forecast period.

Moreover, the rising geriatric population has significantly boosted the concussion market growth. This segment of the population is physically more prone to such brain injuries and thus quite evidently as there happens to be a rise in such injuries across regions.

Such injuries are prevalent in individual contact sports like Football, rugby which is predominantly played across most American and European nations in different capacities. For instance, according to the Center for Disease Control and Prevention (CDC), around 1.6 to 3.8 million sports-related concussions occur every year in the United States, suggesting that 1 in 5 athletes who compete are anticipated to suffer annually from a concussion.

Research and Innovation Targeted towards Accurate Diagnostic Measures for the Concussion to Drive the Market

The increasing number of R&D activities aimed to improve the current insights on traumatic brain injuries is positively influencing the market growth. For instance, the Transforming Research and Clinical Knowledge in Traumatic Brain Injury (TRACK-TBI) has been conducting extensive research to establish a greater understanding of traumatic brain injuries that is likely to provide valuable insights for improved diagnosis of associated patients.

Besides, scientists are researching ways to externally activate the inherent capacity of the brain to adapt and heal itself, a phenomenon called neuroplasticity. Further, stem cells have been recognized as experimental alternative means of treatment in recent years for brain injuries. By migrating to the site of injury, the stem cells stop brain damage and promote healing, as well as reduce inflammation. Such research advancements are expected to create further lucrative opportunity pockets and drive market growth.

Recent Technological Advances Powered by Several Governments in the Domain to Drive the Market Growth

Technological advancements in concussion evaluation devices are creating growth opportunities for the market. These technical advancements include a fast concussion point-of-care test in less than 2 minutes, and concussion diagnostic systems focused on eye-tracking. Many industries and healthcare institutions adopt productive methods to improve concussion detection and recovery research and development initiatives. For instance, a company called Oculogica, Inc. provides eye tracking-based devices for concussion diagnosis. This helps the doctors assess patients in as little as 4 minutes for a suspected concussion. Moreover, Ahead 300 was recently introduced by BrainScope Business, Inc. for the treatment of head injuries, including concussions. Such technological advancements are expected to boost the market over the forecast period.

Besides, several national and federal associations have taken initiatives to promote understanding of brain injury and promote awareness. For instance, to ensure young athletes' safety and well-being, the CDC has implemented the "HEADS-UP" Concussion in Youth Sports initiative. This initiative is aimed to provide and spread valuable information about how to avoid, identify, and respond to a concussion.

Regional Analysis

North America Dominates the Global Concussion Market Holding a Major Market Chunk to Itself

North American held the largest concussion market share among all regions accounting for the largest revenue share in 2019. The regional market dominance is owing to several factors that influence the adoption of key market products in this region. For example, the greater incidence rate of concussions due to road accidents and sports injuries in the continent, increasing support from state and federal government through various initiatives and awareness campaigns to make aware of concussion prevention, diagnosis, and treatment are some of such key drivers.

For instance, as per the American Physical Therapy Association (APTA), approximately 8.6 million sports-related brain injuries and concussions are registered in the U.S.annually.

Furthermore, the availability of technologically advanced products in Silicon Valley powered by the latest state of the art technology provides major accuracy and boosts its usage. Further, the presence of major key players such as Advanced Brain Monitoring, Inc.; Pfizer Inc; BrainScope Company, Inc.; Novartis AG; and Medtronic PLCprovides a major home-state advantage to the region and are also contributing to the growth of the concussion industry in the region.

The Market in APAC Region Is Anticipated to Register the Highest CAGR

In the Asia-Pacific, the market is expected to witness an accelerating CAGR during the forecast period. This can be reasoned with factors such as growth in the aging population who are more vulnerable to such injuries, increasing population in the region that boosts the incidence of road accidents, and violence. Thus, there exists an accelerated demand for market products.

Besides, the growing medical tourism in developing economies such as India, China, and Japan are expected to fuel the concussion market growth in this region as more and more players see opportunity pockets credited to rising patient bank. Moreover, rising healthcare expenditure by the government and the low manufacturing cost of medical devices due to the easy and cheap availability of the human resource, are a few other important factors that are responsible for the market gaining momentum in this region.

Segmental Analysis

By Type

The mild concussion segment dominated the concussion market by type. The domination is largely driven by the fact that the incidence rate of the mild concussion cases is higher compared to both the moderate and severe concussions. It is mainly because mild concussions are easily reported in most activities, especially in sporting and other recreational activities where the chances of minor injuries on the head are higher. Also, mild concussion is treated more by lighter-intensity and easily accessible treatments in volume, thus increasing the number of cases treated and reported in the market. The high level of recognition and awareness about mild concussion adds to segment growth due to increased awareness amongst people to diagnose and manage at an early stage.

By Diagnosis

The CT scan segment dominates the concussion market by diagnosis only because of its wide availability, rapid imaging, and the fact that it is effective in finding acute brain injuries like bleeding, skull fractures, and important structural abnormalities. In most instances, CT is the first imaging modality used in emergency settings since it provides quick and clear images important for immediate decision-making in cases of head trauma. Furthermore, the infrastructure present in hospitals and centers for urgent care supports the rampant usage of CT scans, making them a standard tool in diagnosing concussion, more specifically when a severe injury is suspected.

By Treatment

The medication segment dominates the concussion market by treatment, primarily due to the immediate need to manage symptoms such as pain, headaches, and inflammation that commonly follow a concussion. They offer rapid and efficient relief, medications including over-the-counter analgesics like acetaminophen and anti-inflammatory drugs—are commonly given. Moreover, pharmaceuticals are a favored first therapy option for patients and healthcare professionals due to their accessibility and convenience of administration. The drug sector dominates the concussion treatment market because of its broad application and instantaneous efficacy.

The treatment segment held the largest revenue-generating share of the global concussion market. Further, in the forthcoming future, the segment is expected to prolong its market dominance. An increasing number of companies that are involved in developing new medications and other alternatives of attending to concussion and related brain injuries are driving the segmental growth. Several clinical trials for prototype products and new medications are being conducted all over the world to address therapeutics for the disease.

For instance, a promising molecular-targeted therapy called BHR-100 is expected to be commercialized in the market soon. This is an intravenous progesterone infusion drug that acts as a neuroprotective agent for mild/severe traumatic brain injury patients. Innovations and the launch of such products are expected to be the driving force of the segmental market.

By End User

The hospital segment among end-users dominates the market among all other components. Further, this segment is anticipated to continue its dominance over the global market due to the rise in the number of patients coming up with such conditions. The market dominance can be attributed to the high incidence of patients who choose hospitals as the preferred medium of treatment due to advanced healthcare infrastructure. Further, a greater number of trained personnel who can operate in such high-end instruments contribute to the segment’s domination.

Additionally, high capital within the hospital segment leads to the installation of more high-end diagnostics and treatment means further boosts the segment domination. 

Impact of covid-19

Before the pandemic, several developments took place on an international level. The U.S.-China trade war has affected all economies. The U.K.'s exit from the EU is expected to result in a considerable slowdown for the British economy before it gains ground. However, France, Italy, and Germany are expected to benefit from the scenario. And Germany's dominance in the automobile, electronics, and pharmaceuticals sectors will prove beneficial for the Resistive Load Banks market. The U.S.-China trade war and Brexit hint at the global economy moving towards protectionism. 

The pandemic has put several restraints on the global economy and brought international trade to a standstill. Manufacturers of resistive load banks are expected to have begun evaluating alternative raw materials suppliers. In addition, more prominent companies, which have a large balance sheet, are likely to adopt strategies such as vertical integration, which will gain control of the supply chain and aid in gaining a deeper understanding of domestic markets. These players are expected to absorb smaller players, with smaller businesses either shutting down temporarily or permanently. Key players are also likely to turn to increased automation, keeping in mind the uncertainty of the global economy and the workforce. This will also be done to improve just-in-time solutions (JIT) and is expected to aid in the provision of customizations.

Recent Developments

• In November 2019, Raumedic AG introduced a device for Intracranial Pressure (ICP) monitoring which can be used at home by users.
• In July 2018, Lupin Pharmaceuticals was awarded the U.K. Medicine’s and Healthcare Products Regulatory Agency (MHRA) approval for its Goa facility.