Growth Opportunities and Trends in the Traumatic Brain Injuries Assessment And Management Devices Market: Key Insights for 2025-2034
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How Will the CAGR of the Traumatic Brain Injuries Assessment And Management Devices Market Influence Its Overall Growth by 2034?
The market for assessment and management devices for traumatic brain injuries has seen robust growth lately, with projections indicating a rise from $3.49 billion in 2024 to $3.8 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%. The growth witnessed in the past can be credited to advancements in imaging modalities, increased military research and funding, application of evidence-based practice in clinical research, evolution of regulatory norms, and growing consciousness on the importance of detecting and managing these injuries early on.
There is a forecast for robust growth in the market for devices used in the assessment and management of traumatic brain injuries. It is projected to expand by 8.8% compound annual growth rate (CAGR), reaching a size of $5.32 billion by 2029. The anticipated growth can be attributed to various factors such as the increasing number of traumatic brain injuries, a higher risk amongst the aging population for falls and age-related brain damages, a growing awareness of concussion’s long-term effects, and research initiatives sponsored by the government. The forecast also projects major trends including the application of artificial intelligence (AI), the use of wearable monitoring devices, growth of telemedicine platforms and remote consultation services, advancements in non-invasive brain stimulation methods, and the broadening scope of virtual reality (VR).
What Combination of Drivers Is Leading to Accelerated Growth in the Traumatic Brain Injuries Assessment And Management Devices Market?
The rise in road traffic accident incidents is set to drive up growth in the traumatic brain injuries (TBI) assessment and management devices market. Road traffic accidents involve incidents on public highways where vehicles collide, resulting in property damage, injuries, or even death. The spike in such incidents can be attributed to an increase in the number of vehicles, distracted driving, speeding, and insufficient infrastructure. TBI assessment and management devices play a crucial role in treating the victims of such accidents, offering immediate evaluation and monitoring of brain functions, which can inform suitable medical responses. For example, as reported by the National Highway Traffic Safety Administration, a US government agency, the fatality rate increased in the first quarter of 2022 to 1.27 deaths per 100 million vehicle miles traveled, compared to 1.25 in the first quarter of 2021. Furthermore, in June 2022, the World Health Organization, based in Switzerland, reported that road traffic accidents account for nearly 1.3 million deaths annually across the world. Consequently, the rising trends in road traffic accidents are fuelling growth in the TBI assessment and management devices market.
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Who Are the Leading Companies Pioneering Change in the Traumatic Brain Injuries Assessment And Management Devices Market?
Major companies operating in the traumatic brain injuries assessment and management devices market are:
• Abbott Laboratories
• Medtronic plc
• Siemens Healthineers AG
• Philips Healthcare
• GE HealthCare Technologies Inc.
What Are the Most Significant Trends Transforming the Traumatic Brain Injuries Assessment And Management Devices Market Today?
Leading firms in the traumatic brain injuries assessment and management devices market are concentrating on creating innovative products like diagnostic handheld devices to escalate portability and accessibility for superior TBI detection and management. These hand-held devices are compact, sensor-equipped tools designed for swift assessment and detection of potential brain injuries outside conventional clinical environments, offering convenience and instant outcomes. For example, in November 2023, the University of Birmingham, a notable US-based research university and academic medical institution, introduced a unique diagnostic tool that uses a safe laser shone in the eye to detect traumatic brain injuries (TBI). This system fuses a class 1 CE-certified, eye-safe laser with a Raman spectroscopy mechanism, which employs light to discover the biochemical and structural characteristics of molecules through the analysis of their light scattering, essentially identifying the presence and amounts of recognized biomarkers linked with brain injuries.
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Which Segments Play a Crucial Role in the Expansion of the Traumatic Brain Injuries Assessment And Management Devices Market?
The traumatic brain injuries assessment and management devices market covered in this report is segmented –
1) By Devices: Imaging Devices, Monitoring Devices
2) By Technology: Intracranial Pressure (ICP) Monitoring, Partial Pressure Of Oxygen In Brain Tissue
3) By End-User: Hospitals, Diagnostic Centers, Other End-Users
Subsegments:
1) By Imaging Devices: Computed Tomography (CT) Scanners, Magnetic Resonance Imaging (MRI) Scanners, Positron Emission Tomography (PET) Scanners, X-Ray Machines
2) By Monitoring Devices: Intracranial Pressure (ICP) Monitors, Electroencephalogram (EEG) Machines, Near-Infrared Spectroscopy (NIRS) Monitors, Transcranial Doppler (TCD) Devices
Which Regions Are Leading the Charge in Traumatic Brain Injuries Assessment And Management Devices Market Development?
North America was the largest region in the traumatic brain injuries assessment and management devices market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the traumatic brain injuries assessment and management devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Key Elements Shape the Definition of the Traumatic Brain Injuries Assessment And Management Devices Market?
Traumatic brain injury (TBI) assessment and management devices refer to medical equipment and technology developed to diagnose, evaluate, monitor, and treat those who have suffered a traumatic brain injury. Healthcare providers use these devices to improve the accuracy of TBI diagnosis, assure continuous patient monitoring, assess cognitive and functional deficits, and adopt appropriate treatment and rehabilitation techniques, thereby improving patient outcomes.
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