Concussion Market Size, Share & Trends Analysis Report By Assessment & Treatment (Diagnosis, Treatment), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2020 - 2027

Report Overview

The global concussion market size was valued at USD 6.8 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2020 to 2027. The rising number of road accidents and sports injuries, coupled with the growing vulnerable aging population, are major factors driving the market. In addition, increasing research activities on concussion diagnosis and treatment as well as the adoption of technologically advanced products are few other factors contributing to market growth. Each year concussion contributes to a substantial number of cases across the world. It is described as a mild brain injury as it is usually not life-threatening, but the effects of a concussion can be serious. Major causes of concussion include sports injuries, gunshot wounds, falls, domestic violence, and road traffic accidents. The leading causes of concussion in the U.S. include falls (52%), motor vehicle-related injuries (20%), being hit by or colliding with an object (17%), and assaults (11%).

For instance, as per the CDC, in the U.S. around 1.6 to 3.8 million sports-related concussions occur every year, which means that 1 in 5 athletes who play is likely to suffer a concussion annually. Furthermore, according to the National Center for Injury Prevention and Control, CDC, in the U.S., the overall transport nonfatal emergency department visits were around 3,432,165 in 2018. Thus, increasing cases of concussion due to sports injuries, road accidents, and assaults are anticipated to boost market growth during the forecast period.

Moreover, technological advancements in concussion evaluation devices are anticipated to create growth opportunities for this market. These technological improvements involve rapid point-of-care concussion test in less than 2 minutes and eye tracking-based concussion diagnostic devices. Numerous industry players and healthcare organizations are implementing productive strategies to boost the research and development programs relating to the concussion diagnosis and treatment. For instance, Oculogica, Inc. offers eye tracking-based device for the diagnosis of concussion. It helps physicians evaluate patients with a suspected concussion in 4 minutes. In addition, BrainScope Company, Inc. has recently launched Ahead 300 for the assessment of head injuries, including concussion. Such technological advancements are expected to boost the market over the forecast period.

Furthermore, increasing research and development activities by scientists to improve physician understanding about traumatic brain injuries is positively impacting the market growth. For instance, the Transforming Research and Clinical Knowledge in Traumatic Brain Injury (TRACK-TBI) has conducted a research study to develop a new classification for traumatic brain injuries, which is likely to ultimately improve diagnosis and prognosis in related patients. Researchers are finding ways to stimulate the brain’s innate ability to adapt and repair itself (neuroplasticity). Moreover, the National Research Action Plan aims to improve the diagnosis, prevention, & treatment of concussion/TBI and other mental health conditions that affect veterans and their families. Furthermore, in clinical trials, stem cells have emerged as an alternative therapy for brain injuries in recent years. The stem cells can stop brain damage, promote healing, and reduce inflammation by migrating to the site of injury. Such research activities aiming to develop new treatments for concussion are likely to drive market growth over the forecast period.

Countries such as the U.S. and Canada have witnessed a high prevalence rate of concussion due to increasing sports injuries, road accidents, and falls in the case of elders and children. For instance, according to the National Safety Council (NSC), in the U.S., activities associated with the highest number of non-fatal traumatic brain injuries which leads to Emergency Departments (ED) visits in 2017 were exercise (526,350), bicycling (457,266), football (341,150), swimming activities (199,246) and soccer (218,926). Similarly, a report published by the National Center for Injury Prevention and Control, CDC, in the U.S. stated that an estimated 8,190,469 number of overall non-fatal injuries were reported for emergency department visits due to falls in 2018. Furthermore, as per the Canadian Institute of Health, from 2016 to 2017, around 17,655 people were hospitalized due to sport-related brain injuries in Canada. Therefore, such a high prevalence rate of concussion in these countries is anticipated to boost market growth over the forecast period.

Additionally, many national and federal organizations and agencies, providers, as well as state brain injury organizations work together to promote brain injury awareness. For instance, the CDC has introduced the “HEADS-UP” Concussion in Youth Sports initiative to ensure the safety and health of young athletes. This initiative will offer important information on preventing, recognizing, and responding to a concussion. This is a free, virtual course available to sports officials, coaches, parents, athletic trainers, and others involved in sports activities to keep athletes safe from concussion. Moreover, the National Association of State Head Injury Administrators (NASHIA) has supported a theme for 2020-2021 to promote Brain Injury Awareness Month. NASHIA encourages state governments in promoting relationships and develop rehabilitation centers to the requirements of people with brain injuries. Thus, all these initiatives taken globally to raise awareness related to concussion are collectively responsible for market growth.

Assessment And Treatment Insights

The treatment segment dominated the concussion market and accounted for the largest revenue share of 51.4% in 2019. The segment is expected to witness the highest CAGR of 3.8% from 2020 to 2027. An increasing number of companies are developing new medications for concussion treatment and a large number of clinical trials are being conducted all over the world in order to better understand the etiology of the condition. For instance, the molecular targeted therapies such as BHR-100 are expected to be introduced soon in the market. It is an intravenous progesterone infusion drug that acts as a neuroprotective agent for treating mild/severe traumatic brain injury patients. This is expected to fuel segment growth during the forecast period.

The diagnosis segment is further sub-segmented into Magnetic Resonance Imaging (MRI), Computed Tomography (CT) scan, and X-ray. Due to the higher sensitivity of these devices, they are widely used to assess patients with concussions. Moreover, increasing patient preference for non-invasive diagnosis and the high preference among physicians for brain disease progression monitoring is expected to drive this segment growth during the forecast period. In addition, increasing awareness regarding the timely assessment of concussions and improvement in healthcare facilities is expected to boost segment growth during the forecast period.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 62.2% in 2019. This is owing to the greater incidence of concussions due to road accidents and sports injuries in the continent, increasing government initiatives, and awareness campaigns regarding concussion prevention, diagnosis, and treatment. For instance, as per a CDC report in 2016, approximately 273,272 children (age 17 or younger) were admitted to U.S. emergency departments (ED) for nonfatal traumatic brain injuries related to sports and recreation. Similarly, as per the American Physical Therapy Association (APTA), approximately 8.6 million sports injuries are registered in the country each year. Furthermore, the availability of technologically advanced products and the presence of major key players such as Advanced Brain Monitoring, Inc.; BioDirection, Inc.; BrainScope Company, Inc.; InfraScan, Inc.; and Nova Signal Corporation are also contributing towards the growth of the market in the region.

In Asia Pacific, the market is expected to witness the highest CAGR of 5.0% from 2020 to 2027 owing to factors such as growth in the aging population who are more vulnerable to falls, increasing incidence of road accidents, and violence. In addition, the growing medical tourism industry of developing economies such as India, China, and Japan are expected to contribute to market growth in this region. In addition, rising healthcare expenditure by the government and an increasing number of concussions, and the low manufacturing cost of medical devices, are a few other factors aiding market growth in this region.

Key Companies & Market Share Insights

Key companies are adopting various strategies to increase their market shares, such as strategic collaborations and new product launches. For instance, in January 2019, Oculogica Inc. received approval from the U.S. FDA for the marketing of the EyeBOX device, which helps in the diagnosis of patients with a suspected concussion in a 4-minute test. Similarly, in November 2019, Raumedic AG introduced the Intracranial Pressure (ICP) monitoring device for home use.

Companies are engaging in partnerships, acquisitions, and mergers aiming to strengthen their product portfolio, manufacturing capacities, and provide competitive diversity. For instance, BrainScope, the U.S.-based company, has been granted over USD 32 million from the U.S. Department of Defense research contracts for the development of its BrainScope One device. It is an EEG-based non-invasive technology that enables decision-making on the spot.

Furthermore, in order to increase their market penetration, emerging companies are also trying to develop technologically advanced products. For instance, NovaSignal Corporation is a U.S.-based start-up medical robotics company that develops technologically advanced noninvasive devices to accurately assess mild traumatic brain injury to traumatic brain injury and improve patient outcomes. This is likely to boost the company’s revenue and global presence in the coming years. Some of the prominent players in the concussion market include:

• Nihon Kohden Corporation

• Compumedics Ltd.

• Integra Lifesciences

• BioDirection, Inc.

• InfraScan, Inc.

• Oculogica

• Raumedic AG

Concussion Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global concussion market report on the basis of assessment and treatment, and region:

• Assessment and Treatment Outlook (Revenue, USD Million, 2016 - 2027)

  • Diagnosis

    • Magnetic Resonance Imaging (MRI) Devices

    • Computed Tomography (CT) Scan

    • X-ray

    • Others

  • Treatment

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE