Traumatic Brain Injury Diagnostics Equipment Market to exceed US$ 7.872 billion by 2030

    Published on 09-Feb-2024
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    Report : Traumatic Brain Injury Diagnostics Equipment Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technique (Noninvasive, Invasive, and Combination Techniques), Device Type (Imaging Devices and Monitoring Devices), End User (Hospitals & Clinics, Diagnostic Centers, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America)

    The traumatic brain injury diagnostic equipment market size is expected to grow from US$3.157 billion in 2022 to US$7.872 billion by 2030. The market is estimated to register a CAGR of 12.1% from 2022 to 2030. Factors such as the accelerated demand for advanced diagnostic equipment and quick and effective diagnosis for TBI patients propel the traumatic brain injury diagnostics equipment market growth. However, the adverse effects of contrast medium/agent impede the growth of the market. Regional Analysis Based on geography, the traumatic brain injury diagnostic equipment market is segmented into North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America accounted for the largest global traumatic brain injury diagnostic equipment market share. Asia Pacific is expected to register the highest CAGR during 2022-2030. In North America, the US accounts for the largest market share of the traumatic brain injury diagnostic equipment market. The Centers for Disease Control and Prevention (CDC) report revealed that an estimated 2.5 million people suffer from TBI annually in the US. According to the KNAPP & ROBERTS report, 1 in every 6 Americans live with TBI-related disability in the US alone, accounting for approx. 5.3 million. With the rising prevalence of TBI, the economic cost accounts for US$ 76.5 billion. Among US$ 76.5 billion, US$ 11.5 billion accounts for direct medical costs and nearly US$ 65 billion for indirect costs. The leading causes of TBI include falls (45%), motor vehicle crashes (14.3%), assaults (10.7%), and unknown (19.0%). Further, companies are launching innovative products for the diagnosis of TBI. For instance, in August 2022, Abbott announced a new blood test for concussions to predict outcomes from brain injury and treatment interventions. The researchers used Abbott's "i-STAT TBI Plasma Test," the only FDA-cleared rapid test intended for concussion, and Abbott's core laboratory ARCHITECT instrument to measure two biomarkers in blood plasma associated with brain injury. The i-STAT TBI Plasma test measures the level of biomarkers released in the bloodstream in response to the brain injury; the level of biomarkers assists in determining the need for a CT scan. Additionally, Sense Neuro Diagnostics announced clearance to conduct clinical trials for hemorrhage detection. The new trial approved by the FDA Division of Neurosurgical, Neurointerventional, and Neurodiagnostic Devices began in June 2023, including up to 300 patients at 30 US, Canada, and Indian sites. This noninvasive technology has the potential to collect 360 data points within 2.5 seconds to detect brain hemorrhage or stroke type, thereby helping quick response by physicians, emergency department personnels, neuro ICU teams, and military field hospitals assessing and monitoring TBI. Therefore, the traumatic brain injury diagnostics equipment market size is likely to surge due to innovative product launches by US-based companies to improve outcomes of diagnosis of patients suffering from TBI. Accelerated Demand for Advanced Diagnostic Equipment Drives Traumatic Brain Injury Diagnostics Equipment Market Growth According to the Medical Research Council 2022 report, 10 million people across the world sustain traumatic brain injury (TBI) annually. Likewise, the Headway 2024 report revealed that acquired brain injury (ABI) is rising in the UK; a total of 356,699 hospital admissions were registered due to ABI in the UK from 2019 to 2020. Among these, the male population was 1.5 times higher than females admitted to hospitals for a head injury. As per The Economist Intelligence Unit report, the global healthcare burden of TBI is estimated to be around US$ 400 billion annually. The most common form of ABI is TBI due to an accident or stroke. The Centers for Disease Control and Prevention (CDC) report revealed that an estimated 1.7 million TBI-related emergency department visits, hospitalizations, and deaths occur annually in the US, especially among adults aged 75 years and older as they are at high risk of falling due to problems with gait and balance. Also, road accidents are the leading cause of TBI-related deaths in the US and are highest among adults aged 20-24 years. Therefore, manufacturers are developing innovative products to diagnose TBI. In October 2023, bioM

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