Concussion Market Size, Share, Industry & Revenue | 2031

Report Description

The global concussion market size was USD 7.36 Billion in 2022 and is likely to reach USD 10.12 Billion by 2031, expanding at a CAGR of 3.6% during 2023–2031. The market growth is attributed to the increasing incidence of mild traumatic brain injuries.

A concussion is defined as a brain injury caused by violent shaking of the head and body or a blow to the head. The medical condition is generally registered as a mild blow to the head and loss of consciousness.

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The condition leads to temporary cognitive symptoms such as confusion, headache, memory loss, lack of coordination, nausea, vomiting, dizziness, sleepiness, ringing in the ears, and excessive fatigue. Concussion affects the brain and requires a temporary restriction on activities such as sports, video games, TV, or socializing. Resting and restricting body activities can be helpful for the brain to recover.

COVID-19 Impact on Concussion Market

The market report finds that the global concussion market growth got affected by the COVID-19 pandemic. As physical activities such as sports tournaments, athletic competitions, and others were limited during the pandemic, which declined the demand for medicines, diagnosis, and treatment for concussions. The market was also affected by subsequent lockdowns, as patients preferred not to visit hospitals for concussion treatments due to fear of COVID-19 infection.

Concussion Market Dynamics

The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global concussion market report has up-to-date insights about market scenarios that can shape the overall market performance and output during the forecast period, 2023 to 2031.

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What are the Key Trends in Concussion Market?

Increasing Cases of Head-related Injury in the Geriatric Population

The rising cases of head-related injuries in the geriatric population around the world is one of the primary trends fuelling the global concussion market. The geriatric population has a high risk of suffering head-related injuries owing to difficulties in movement, reduced support from the body due to weakening, health issues, and other such factors.

In most of the head-injury cases, these aged adults require to sick treatments in hospitals and medications. The increasing aged population and brain injury cases are boosting the demand for concussion drugs, medicines, and treatments.

Ongoing Drugs/Vaccine Development and Approval Processes

Ongoing drugs/vaccine development and approval processes across the worldwide healthcare sector is expected to be one of the major trends boosting the global concussion market expansion. Drugs/vaccine development is a complex and long process with a combination of public & private investments and often lasts 10 years to 15 years.

Late diagnosis or untreated medical conditions lead to major health disorders and spread of infection. Governments in various countries are focusing on providing funds for drug development and creating a vaccine for various health issues such as concussion, hepatitis C virus (HCV), and other rare & chronic illnesses. Such government support is anticipated to drive the market during the forecast period.

What are the Drivers of Concussion Market?

Increasing Number of Sports Injuries

An increasing number of sports injuries and road accidents are anticipated to drive the global concussion market during the forecast period. The injuries related to the head are rising in sportspersons and athletes owing to increased participation in sports tournaments, and growing practice sessions for maintaining form.

As the head is one of the most vulnerable body parts to injuries in many types of sports, the incidences of injuries are rising in sportspersons every year. This major factor is likely to support the growth of the concussion market in the coming years.

Rising Road Accidents

The rising number of road accidents is another major factor anticipated to drive the growth of the concussion market. Road accidents are rising due to drunk driving, bad road conditions, lack of driving skills, increased number of vehicles on the road, and other factors. In road accidents, the cases of head injuries are significantly high, which is boosting the need for concussion treatments and medications.

What are the Restraints of Concussion Market?

Shortage of Trained Professionals for Providing Concussion Treatments

Shortage of trained professionals is expected to hamper the concussion market growth. The research and development process is time-consuming, as it requires studying and treating the medical condition. The lack of trained professionals in the healthcare global industry is expected to hinder the growth of the market.

High Investment Involved in the R&D and Approval Process

Governments of developing countries support pharmaceutical industries for the study and generation of drugs/vaccines. However, the newly developed drugs/vaccines need to pass a clinical trial before approval. High investment needed in R&D is expected to result in a high cost for drugs/vaccines development, which is likely to restrain the concussion market.

What are the Opportunities in Concussion Market?

Increasing R&D Activities on the Efficient Diagnosis and Treatment

Increasing research activities on the diagnosis and treatment of concussions are anticipated to contribute to creating opportunities for the concussion market growth. The need for drug/vaccine development for treating a concussion is growing across global healthcare. Presently, no vaccines are available in the market for treating concussions. Vaccines are considered to be more effective as compared to oral drugs. Vaccines are anticipated to help in the fast recovery from concussions.

Scope of Concussion Market Report

The global concussion market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.

Concussion Market Segment Insights

What are the Key Reasons for High Revenue Generation in the Treatment Segment?

Based on the assessment, the market is bifurcated into diagnosis and treatment. The diagnosis segment is further categorized as magnetic resonance imaging (MRI) devices, computed tomography (CT) scan, x-ray, and others. The treatment segment held more than 51% share of the global market revenue in 2021. The treatment segment is anticipated to continue leading the market during the forecast period owing to the growing number of market players developing innovative medications for concussion treatments.

Diagnosis segment is expected to grow at a rapid rate in the market during the projection period, owing to early care and support requirements. Patients are preferring noninvasive and easy diagnosis methods. The development of rapid and efficient diagnosis methods is expected to drive to diagnosis segment in the global market.

What are the Main Aspects for Boosting the Diagnostic Centers Segment?

On the basis of end-user, the global concussion market is categorized into hospitals and clinics, diagnostic centers, and payers. The diagnostic centers segment is expected to hold a large share of the market, owing to the increasing diagnosis test requirements by health providers.

The hospitals and clinics segment is expected to grow at a considerable CAGR in the coming years. The rising healthcare establishments and increased demand for healthcare in emerging economies are expected to support the hospitals and clinics segment growth in the global concussion market during the forecast period.

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Why is North America Dominating Concussion Market?

Based on region, the concussion market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market size of North America is expected to dominate the global market during the forecast period. The growth of the region is attributed to increasing sports injuries and the growing geriatric population.

In addition, the increasing research & development activities by prominent players in North America is likely to boost the market growth in the region in the coming years. Asia Pacific is projected to be the second fastest-growing region in the concussion market. The increasing spending on healthcare and the largest population of countries such as India and China are expected to drive the region’s market in the coming years.

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