Diagnosis Segment to Lead Market between 2021 and 2028
According to our new research study on "Concussion Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type and End User," the market is expected to grow from US$ 7,211.89 million in 2021 to US$ 9,272.03 million by 2028. It is estimated to grow at a CAGR of 3.7% during 2021–2028. The report highlights trends prevailing in the market and factors driving its growth. Rising road accidents and sports injuries and the easy availability of concussion therapies are driving the market. However, the challenges and lack of awareness associated with concussion treatment hampers the market growth.
Based on the type, the concussion market is segmented into treatment and diagnosis (magnetic resonance imaging, computed tomography scan, x-rays, and others). The diagnosis segment held the largest market share in 2021 and is anticipated to register the highest CAGR during the forecast period. The diagnosis is critical in identifying concussions in patients. the segment is further segmented into Magnetic Resonance Imaging (MRI), Computed Tomography (CT) Scan, X-Ray, and others. The healthcare providers adopt these methods of diagnosis based on the requirement and level of concussion. End users utilize relevant devices and equipment to diagnose the indications. Various regional and international players in the market are offering related products and services.
Impact of COVID-19 Pandemic on Concussion Market
The global economies are severely affected due to the exponential growth of COVID-19 cases in the region. The COVID-19 pandemic is expected to impact the market negatively. The COVID-19 pandemic and the subsequent economic downturn have detrimental effects on people's mental wellness and built new barriers for those who already have a mental illness or behavioral disorders. For instance, it is estimated that 1.5 to 2.0 million concussions occur alone in the United States. During the pandemic, it is likely that when concussions occur, patients wait longer to seek specialty care due to SARS-CoV-2 exposure concerns. For instance, there was approximately a 39.5% decrease in concussion-related visits to a specialty clinic during the onset of the pandemic as compared to the previous 12 months.
Additionally, it was witnessed by the Journal of Neurotrauma that there was a significant decline in sport-related concussions during the pandemic with a proportional increase in non-sport concussions from recreational injuries, auto accidents, and falls. The patients waited to seek care for their concussions during the pandemic as before the pandemic. They were 1.4 times more likely to be treated within seven days of the injury.
Nihon Koden Corporation; BrainScope Company, Inc.; Abbott; Compumedics Limited; InfraScan, Inc.; Novasignal Corporation; Elekta AB; Integra Lifesciences; NanoDiagnostics, Inc.; and Medtronic are the leading companies operating in the global concussion market.
The report segments the concussion market as follows:
The Concussion market is analyzed on the basis of type and end user. Based on the type, the market is segmented into treatment and diagnosis. The diagnosis market is further segmented into magnetic resonance imaging, computed tomography scan, x-rays, and others. Based on the end user, the concussion market is segmented into hospitals & clinics, diagnostic centers, and others. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the rest of the Middle East & Africa), and South and Central America (Brazil, Argentina, and the rest of South and Central America).
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