Concussion Market

Market Overview

The global concussion market was valued at USD 6500 million in 2019 and is expected to grow at a 3.8 % 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

Treatment Segment Dominates among the Market Segment

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.

The Diagnosis Segment Is Expected to Attain a High CAGR

The diagnosis segment is expected to attain accelerated growth owing to the latest advancements within the sector. The advancements include the launch of many products and medical devices that are highly accurate and provide rapid diagnosis. Moreover, increasing patient preference for non-invasive methods of diagnosis and the high uptake among medical practitioners for brain injury diagnostic devices is expected to drive this segment growth during the forecast period.

Besides, increasing awareness among people regarding the pros of timely diagnosis and availability of high-end devices for the assessment of concussions coupled with efforts to improve healthcare facilities is expected to boost the segment’s growth during the forecast period.

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

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. 

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.