LONDON, Feb. 29, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company's Traumatic Brain Injury Global Market Report 2024, the traumatic brain injury market has experienced substantial growth, surging from $2.48 billion in 2023 to $2.72 billion in 2024, demonstrating a noteworthy compound annual growth rate (CAGR) of 9.8%. This traumatic brain injury market growth can be attributed to advancements in trauma care, the evolution of rehabilitation therapies, heightened concussion awareness, and significant research in both military and sports sectors.
Anticipated Strong Growth and Road Injury Impact: Forecasts suggest a promising outlook for the traumatic brain injury market, with projections indicating a robust climb to $3.8 billion by 2028, maintaining a solid CAGR of 8.7%. The anticipated rise in road injuries is expected to be a primary driver propelling traumatic brain injury market expansion. Road injuries encompass various forms of physical harm or damage resulting from incidents on roads, streets, highways, or other transportation routes. traumatic brain injury treatment plays a crucial role in aiding individuals affected by these accidents, facilitating improved physical recovery, reducing complications, and enhancing cognitive function.
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Elevated Incidence of Sports Injuries: The escalating occurrence of sports injuries is poised to further fuel growth in the traumatic brain injury market. Sports injuries encompass physical trauma sustained during sports, exercise, or athletic activities, often leading to traumatic brain injury due to forceful impacts or jolts to the head or body. These injuries, stemming from diverse causes such as head blows, falls, collisions, or repetitive head impacts, significantly contribute to the traumatic brain injury landscape. Notably, statistics from the 2022 National Safety Council underscore a surge in exercise-related injuries, emphasizing the pivotal role of sports injuries in driving the traumatic brain injury market.
Innovative Treatment Paradigms and Diagnostic Advancements: Key traumatic brain injury market players are at the forefront of developing innovative treatments and diagnostics to meet evolving consumer needs. Continuous development of innovative therapies and tests for traumatic brain injury aims to enhance outcomes and improve the quality of life for affected individuals. For instance, the launch of the I-STAT traumatic brain injury plasma test by Abbott Laboratories in January 2021 highlights the industry's commitment to innovation. This blood test, tailored for traumatic brain injury, measures biomarker levels associated with brain injury to guide the need for a CT scan, offering a promising avenue for revolutionizing traumatic brain injury diagnosis and treatment.
Market Dynamics and Comprehensive Segmentation: Currently, North America dominates the traumatic brain injury market, with Asia-Pacific emerging as the fastest-growing region in the forecast period.
The traumatic brain injury market segmentation encompasses a diverse array of devices, techniques, and end-uses, catering to the multifaceted needs of patients and healthcare providers alike. Notable segments include computed tomography, X-ray, imaging devices, intracranial pressure monitoring, and diagnostic centers, among others.
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Leveraging Market Insights for Strategic Growth: Industry stakeholders can capitalize on comprehensive market reports to navigate evolving trends, competitor strategies, and market dynamics effectively. By staying abreast of industry developments and proactively identifying growth opportunities, players can devise targeted approaches to penetrate the market, enhance patient care, and drive sustainable business growth. As the traumatic brain injury market continues its upward trajectory, insights derived from comprehensive reports serve as invaluable tools for strategic decision-making, positioning companies for success amidst dynamic market landscapes.
Traumatic Brain Injury Global Market Report 2024 by The Business Research Company provides insights on the traumatic brain injury market size, traumatic brain injury market segments, traumatic brain injury market trends, drivers and restraints, major competitors' market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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