Concussions Market Analysis
Global concussion market is predicted to touch USD 1,060.4 million at a 3.22% CAGR over the forecast period (2019-2023), as per the latest Market Research Future (MRFR) report. Concussion is the least serious and also the most common form of traumatic brain injury. It is graded as grade 1 (mild), grade 2 (moderate), and grade 3 (severe), resting on such factors as amnesia, loss of equilibrium, and loss of consciousness. Concussions are generally caused by a blow on the head. Shaking the upper body and the head violently can also cause concussions. It can also result from a jolt or blow to the head or a hit to the body, which makes the brain and the head to move back and forth rapidly. Such a sudden movement may cause the brain in bouncing around or twisting in the skull, thereby creating chemical changes in the brain and at times stretching or damaging brain cells.
Various factors are propelling the concussions market growth. These factors, as stated by the MRFR report, include growing geriatric population, ongoing product development and approval, and rising incidence of mild traumatic brain injuries.
On the contrary, the shortage of skilled professionals and the stringent regulatory framework are factors that may impede the concussions market growth over the forecast period.
Concussions Market Segmentation
The Market Research Future report provides a wide segmental analysis of the concussions market based on treatment and end user.
Based on treatment, the concussions market is segmented into treatment and diagnosis.
Based on end user, the concussions market is segmented into payers, diagnostic centers, and hospitals and clinics. Of these, the diagnostic centers segment will have the largest share in the market over the forecast period.
Concussions Market Regional Analysis
Based on the region, the concussions market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, the Americas, and the Middle East and Africa (MEA). Of these, the Americas will have the lion’s share in the market over the forecast period. This is owing to the increasing cases of concussions. Besides, the rising awareness created by various private firms and government organizations is also propelling market growth in this region.
The concussions market in Europe is predicted to have the second-largest share in the market over the forecast period. This is owing to the growing incidences of concussions in this region.
The concussions market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to increasing disposable income and the developing healthcare infrastructure. Moreover, increase in the improved healthcare infrastructure, an increase in the R&D development center setups, and an increase in traumatic brain injuries are also pushing market growth in this region. Japan is the key contributor in this region.
The concussions market in the MEA is predicted to have a steady growth over the forecast period. This is owing to healthcare affordability and limited access among the population. Growing awareness of health as well as the availability of new diagnostic methods and treatment, and the rising number of traumatic brain injuries in this region is boosting the market growth.
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Concussions Market Key Players
Leading players profiled in the concussions market report include Sanofi SA, Novartis AG, Mylan NV, Pfizer, Inc., Lupin, Zydus Cadila, Sun Pharmaceutical Industries Ltd, Integra LifeSciences Corporation, Medtronic PLC, and Teva Pharmaceutical Industries Ltd, among others. Key players are acquiring various strategies to strengthen their position and create a niche in the market. These include mergers and acquisitions, partnerships, research and development activities, product innovations, and more.
July 2019: Rutgers has joined hands with Big Ten Study for reducing concussions. This will offer an invaluable opening for ongoing collaboration between administrators, researchers, athletic trainers, and physicians to understand who has a higher risk of injury, as well as how the risk can be reduced. Through this collaboration, they will be at the forefront to understand what surges risks of concussions and cutting down the prevalence and risk of concussion.