In a groundbreaking market analysis by Future Market Insights, the global chronic brain damage management market is projected to experience significant growth over the next decade. The market, currently valued at USD 0.9 billion in 2023, is expected to soar to an impressive USD 1.77 billion by 2033, reflecting a robust compound annual growth rate (CAGR) of 7%.
This anticipated surge marks a notable acceleration from the previous period of 2018-2022, during which the market grew at a CAGR of 3.5%. The heightened pace of expansion highlights the increasing global demand for advanced solutions in the management of chronic brain injuries and neurological disorders.
The escalating incidence of chronic brain injuries and neurological conditions worldwide is a major driver behind this market growth. Chronic brain damage, which includes conditions such as stroke, traumatic brain injury, and cerebral palsy, remains a leading cause of disability and mortality. According to the World Health Organization (WHO), strokes affect approximately 15 million people annually, while traumatic brain injuries impact an estimated 69 million individuals each year. This staggering prevalence underscores the urgent need for innovative therapies and management strategies.
As the global population ages and lifestyles evolve, the demand for effective chronic brain injury management is expected to rise even further. This presents a significant opportunity for industry stakeholders to develop novel solutions that can improve patient outcomes and enhance quality of life.
Industry leaders and innovators in the field of chronic brain damage management are well-positioned to shape the future of neurological care. Through collaborative efforts and cutting-edge research, the global healthcare community is on the cusp of transformative advancements in the diagnosis, treatment, and rehabilitation of individuals affected by chronic brain injuries.
Key Takeaways from the Market Study:
- The Chronic Brain Damage Management market expanded at a CAGR of 3.5% from 2018 to 2022.
- The market for managing chronic brain damage is anticipated to expand at a 7% CAGR from 2023 to 2033.
- The market for managing chronic brain damage is anticipated to reach USD 1.77 billion by 2033.
- The hospital sector holds the biggest market share, per the FMI research.
- For the Chronic Brain Damage Management market, North America is predicted to have a 40% market share.
- With a share of 20% throughout the projection period, it is expected that the East & South Asia market would grow considerably.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Chronic Brain Damage Management.” says an FMI analyst
Market Competition:
Key players in the market include companies such as NeuroVive Pharmaceutical AB, TEVA Pharmaceutical Industries Ltd., Integra LifeSciences Corporation, Medtronic PLC, Neuren Pharmaceuticals Ltd., Johnson & Johnson Services Inc., Smith & Nephew, Stryker, B.Braun Melsungen AG, Neural Analytics, Inc., along with healthcare providers and technology companies among other global players.
- In August 2022, a study revealed that Abbott’s blood test for concussion has the potential to predict outcomes from brain injury and inform treatment interventions. The test measures levels of two biomarkers, Glial Fibrillary Acidic Protein (GFAP) and Ubiquitin carboxy-terminal Hydrolase L1 (UCH-L1), in blood plasma within 24 hours of injury. High levels of GFAP and UCH-L1 were found to correlate with death and severe injury, and the test could accurately predict such outcomes six months after the injury. The study suggests that clinicians could use this test to get a more accurate picture of the severity of the injury and the expected course of recovery, enabling them to provide the best care for patients. Abbott is currently seeking FDA clearance for its TBI test on Alinity i and ARCHITECT core laboratory instruments, and the test is already CE Marked and available outside the U.S.
Explore the High Demand for Chronic Brain Damage Management: Our Full Report Provides a Detailed Look at Emerging Trends!
Key Segments Profiled in the Chronic Brain Damage Management Industry Survey:
Diagnosis:
- Imaging studies
- Blood tests
- Brain evaluations
Treatment Type:
- Occupational therapy
- Physical therapy
- Psychotherapy
- Speech or language therapy
End- User:
- Hospitals
- Neurology Clinics
- Independent Pharmacies
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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