What’s Driving Growth in the Traumatic Brain Injury Diagnostic Equipment Market? Insights into Key Trends and Opportunities
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What is the Anticipated CAGR of the Traumatic Brain Injury Diagnostic Equipment Market, and What Factors Will Drive It?
The market size for diagnostic equipment for traumatic brain injuries has significantly expanded in the past years. The growth is projected to continue, increasing from $2.17 billion in 2024 to $2.43 billion in 2025, with an annual compound growth rate (CAGR) of 11.6%. Factors contributing to this historic growth include heightened awareness and initiatives for screening, a surge in traumatic brain injury cases, growing uses in the field of sports medicine, and a rising elderly population.
The market for diagnostic equipment for traumatic brain injuries is projected to witness swift expansion in the coming years. The market size is forecasted to reach $3.72 billion in 2029, growing at a compound annual growth rate (CAGR) of 11.2%. This predicted growth can be credited to the integration of state-of-the-art neuroimaging practices, proliferation of portable and point-of-care diagnostic gadgets, escalated funding for traumatic brain injury diagnostics research, application of artificial intelligence and machine learning in diagnostic instruments, and a spike in demand for tailored medical treatment. The forecast period is also expected to see the increased use of biomarkers, emergence of telemedicine applications, development of wearable diagnostic gear, focus on non-invasive diagnosis techniques, and the incorporation of big data analytics as major market trends.
What Key Drivers Are Accelerating the Growth of the Traumatic Brain Injury Diagnostic Equipment Market During the Forecast Period?
The escalating incidence of sports-related injuries and vehicular accidents anticipate boosting the advancement of the traumatic brain injuries diagnostic apparatus market. In sports or athletic activities, individuals may acquire physical injuries, while vehicular accidents involve events causing damage or injuries on the road. The surge in these incidents can be accredited to increased participation in sports, growing traffic congestion, distracted driving practices, and insufficient safety precautions. TBI diagnostic equipment functions as a key instrument in evaluating, diagnosing, treating and tracking trauma, which aids in enhancing patient outcomes, diminishing permanent disabilities, and improving public health and safety overall. For instance, as stated by the National Safety Council (NSC), a US-based non-profit entity, there was a 20% rise in sports and recreational injuries in 2021, a 12% surge in 2022, and a 2% growth in 2023. Additionally, Roads Australia, an advocacy organisation based in Australia stated that in 2023, 1,266 individuals tragically passed away due to road accidents in Australia, demonstrating a 7.3% increase compared to the yearly period ending in December 2022. Consequently, the rise in sports injuries and vehicular accidents is fueling the expansion of the traumatic brain injury diagnostics equipment market.
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Who Are the Top Companies Contributing to the Growth of the Traumatic Brain Injury Diagnostic Equipment Market?
Major companies operating in the traumatic brain injury diagnostic equipment market are:
• Hitachi Medical.
• Canon Medical Systems Corporation
• Siemens Healthineers AG
• FUJIFILM Medical Systems Inc.
• Koninklijke Philips N.V.
How Are Technological Trends Affecting the Growth and Development of the Traumatic Brain Injury Diagnostic Equipment Market?
Prominent firms in the traumatic brain injury diagnostics equipment market are concentrating their efforts on developing products that are incorporated with cutting-edge technology, such as AI-based smart speed image-reconstruction technology. This technology makes use of artificial intelligence algorithms to quickly reconstruct medical images in better quality, shortening scan durations and enhancing diagnostic precision in various imaging processes like MRI and CT scans. For example, in March 2024, Koninklijke Philips N.V., a health technology firm from the Netherlands, and SyntheticMR AB, a Sweden-based company that delivers innovative MRI software solutions, unveiled their joint project, the Smart Quant Neuro 3D system. This is an AI-powered quantitative brain imaging system engineered to elevate the standard of neurology care. It operates with AI-based SmartSpeed image-reconstruction technology from Philips, boosting the imaging speed by almost three times and offering up to 65% enhanced resolution. This system aids in scanning patients and may potentially hasten the output of the radiology department. The Smart Quant Neuro 3D’s MRI machine software suite is capable of measuring different brain tissues, including myelin volumes that function as insulation for nerve layers, guaranteeing efficient electrical impulse transmission in the brain. This permits objective evaluation of traumatic brain injuries, an area that previously relied on symptom-based examinations.
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What Are the Core Segments of the Traumatic Brain Injury Diagnostic Equipment Market, and How Do They Contribute to Growth?
The traumatic brain injury diagnostic equipment market covered in this report is segmented –
1) By Device Type: Imaging Devices, Monitoring Devices
2) By Technique: Noninvasive, Invasive, Combination Techniques
3) By End User: Hospitals, Clinics, Diagnostic Centers, Other End Users
Subsegments:
1) By Imaging Devices: Ct Scanners, Mri Scanners, X-Ray Machines, Pet Scanners
2) By Monitoring Devices: Intracranial Pressure (Icp) Monitors, Eeg (Electroencephalogram) Monitors, Cerebral Oxygenation Monitors, Blood Flow Monitors
What Are the Key Regions Powering Growth in the Traumatic Brain Injury Diagnostic Equipment Market?
North America was the largest region in the traumatic brain injury diagnostics equipment market in 2023. The regions covered in the traumatic brain injury diagnostic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Traumatic Brain Injury Diagnostic Equipment Market Defined Across Different Regions?
Traumatic Brain Injury (TBI) diagnostic equipment refers to specialized medical devices and tools utilized to assess and diagnose traumatic injuries to the brain. It comprises of advanced imaging tools capable of detecting structural abnormalities and lesions in the brain. Additionally, neurocognitive assessment tools and software aids in assessing cognitive deficits and tracking recovery progress post-injury.
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