Traumatic brain injuries (TBI) refer to the concussion or damages to the skull, and the tissue beneath that occur due to some mental disturbance, during a road accident, or powerful shock wave on the battlefield. TBI is the leading cause of a chemical reaction triggered in the brain that ravages neurons and the networks that supply them nutrients & oxygen. Traumatic brain injuries can cause immediate, significant damage to a person’s brain, leading to long-term cognitive, psychological, and motor system damage.
Hence, TBI is considered a severe health problem, contributing to a substantial number of deaths and permanent disability every year. Every year, globally, around 52,000 people die of traumatic brain injuries, commonly caused by accidents, violent assaults, blunts force trauma, and sports injuries. Fortunately, there is a range of breakthrough diagnostics, drugs, and novel treatment procedures available in the market, helping the patients with early detection and treatment to manage the conditions, effectively.
As a result, the global traumatic brain injuries treatment market is a pervasively growing market space. The increasing prevalence of TBI and advancements in the therapeutics to manage the conditions are the major driving forces pushing the growth of the market. According to Market Research Future (MRFR), the global traumatic brain injuries treatment market is expected to perceive a phenomenal growth by 2023. MRFR, in its recently published analysis, also asserts that the market would register around 5.1% CAGR throughout the forecast period (2018 – 2023).
The increase in the uses of medicines to treat traumatic brain injuries treatment presage the rise in the cases diagnosed and treated. Additionally, factors such as the burgeoning healthcare sector and the increasing number of advanced cares providing facilities are substantiating the growth of the market. Growing R&D activities in the field of TBI diagnostics and drug & therapeutics discoveries are boosting the growth of the market. Furthermore, the rising number of road collisions and the increasing number of aging populations foster the growth of the market.
On the other hand, the prohibitive cost of treatment, along with the incidents of drug resistance and unmet clinical needs, is impeding the growth of the market. Nevertheless, the antibiotics developed with advent technologies would support the market growth throughout the review period, providing preferable outcomes. Also, the availability of several diagnostics and treatment options available, including behavioral intervention & prescription medication and digital medicines, would impact the market growth, positively.
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Global Traumatic Brain Injuries Treatment Market – Segments
The report is segmented into three dynamics to widen the scope of understanding,
By Treatment: Immediate emergency care, Medications, Surgery, Rehabilitation, and others.
By End-user: Hospitals, Neurologist, Independent pharmacies, Rehabilitative centre treatment, and others.
By Regions: North America, Europe, APAC, and the Rest-of-the-World.
Traumatic Brain Injuries Treatment Market – Geographical Analysis
North America leads the global traumatic brain injuries treatment market. The largest share of the market attributes to a large patient pool suffering from traumatic brain injuries and high healthcare expenditures. The rising rate of TBI patients, hospitalizations, and deaths occurring due to TBI contributes to the growth of the regional market. The US accounts for the largest share in the North American TBI treatment market.
The region is expected to retain its leading position in the global market throughout the forecast period, creating a substantial revenue pocket. Europe stands second in the global traumatic brain injuries treatment market. Factors such as increasing aging population and increasing prevalence of TBI across the region drive the growth of the market. Moreover, considerable advancements in medical technologies and digital medicines support the growth of the regional market.
Also, the presence of a flourishing medical devices market and notable players, alongside, the rising healthcare expenditure in the region, support the market growth. According to the journal of neurosurgery, the overall rate of TBI incidences is highest in Europe, and about 95% population suffer from TBI occurred due to road accidents.
The Asia Pacific traumatic brain injuries treatment market is emerging as a promising market. Southeast Asian and Western Pacific region experiences the highest rate of TBI. Besides, rising head injuries that took place in road collisions are fostering the growth of the regional market. Moreover, large patient population and unmet needs, alongside the availability of low-cost treatment procedures, are acting as key driving forces behind the regional market.
Global Traumatic Brain Injuries Treatment Market – Competitive Analysis
Highly competitive, the traumatic brain injuries treatment market appears fragmented, with various well-established players forming a competitive landscape. To gain a competitive advantage, these players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product launch.
Players operating in the global traumatic brain injuries treatment market, include Zimmer Biomet, Neuren Pharmaceuticals Ltd., Oxygen Biotherapeutics Inc. Teva Pharmaceutical Industries Ltd., Ischemic, Grace Laboratories LLC, Cognosci, Medicortex, Amarantus BioScience Holdings, Aldagen, NeuroScience Pharmaceuticals, Targacept, BioDirection, Inc., QuesGen Systems, Inc., BrainScope Company, Inc., Neural Analytics, Inc., Oculogica, BrainScope Company, Inc., Silver Creek Pharmaceuticals Inc., Stemedica Cell Technologies Inc., Banayan Biomarkers Inc., and Vasopharm GmbH, among others.
September 09, 2019 —- Endonovo Therapeutics, Inc. (the US), a commercial-stage developer of non-invasive Electroceutical® therapeutic devices, announced its partnership with Veterans Healthcare Supply Solutions (VHSS – the US), to initiate the sales of SofPulse® in VH Administration and military hospitals. The collaboration with VHSS is a significant accomplishment for Endonovo, especially when it is planning to expand its business to support VA and military hospitals globally.
Endonovo develops non-invasive, electromagnetic therapy treatments for humans and animals. Its current portfolio of commercial & clinical-stage wearable Electroceuticals® therapeutic devices address traumatic brain injury (TBI), and other various pain and chronic diseases & disorder management treatments. Veterans Healthcare wholesales & distributes health care equipment, and related supplies & equipment. VHSS has recently expanded its reach to service all federal government agencies with a well-diversified portfolio of products.
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