Concussion Imaging Market
Number of pages: 100 | Report Format: PDF | Published date: April 06, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 7.42 billion |
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Revenue Forecast in 2031 |
US$ 10.51 billion |
|
CAGR |
3.95% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
|
Segments Covered |
Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global concussion imaging market was valued at US$ 7.42 billion in 2022 and is expected to register a revenue CAGR of 3.95% to reach US$ 10.51 billion by 2031.
Concussion Imaging Market Fundamentals
Concussion imaging refers to medical imaging techniques to diagnose and evaluate concussion, a type of traumatic brain injury (TBI). Medical imaging techniques such as computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), and single-photon emission computed tomography (SPECT) can be used to visualize the brain and identify any structural or functional abnormalities associated with concussion. Concussion imaging is used to detect brain injuries that may not be immediately visible or detectable through clinical examination alone. Imaging can help identify the location and extent of the injury, aiding in diagnosis, prognosis, and treatment planning. It is also used to monitor the progression of the injury and evaluate the effectiveness of treatment. Concussion imaging can be used in various settings, including emergency departments, hospitals, and diagnostic centers. It is often used with other diagnostic tools, such as clinical assessment and cognitive testing, to evaluate concussions comprehensively.
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Concussion Imaging Market Dynamics
With increased sports activities, road accidents, and military conflicts, the incidence of concussions is increasing, which is a leading driver for the revenue growth of the global concussion imaging market. For instance, according to the WHO's factsheet of June 2022, around 1.3 million people die each year from road traffic crashes. The development of advanced imaging techniques such as CT scan, MRI, and PET scan have significantly improved the accuracy and precision of concussion diagnosis. The availability of these advanced imaging techniques has led to an increase in the adoption of concussion imaging. The growing awareness of the long-term effects of concussions has increased the demand for concussion imaging. Education initiatives and media coverage have helped to increase public awareness of the importance of early diagnosis and management of concussions.
However, the high cost of imaging equipment such as CT scans and MRI machines can limit their adoption, especially in low-income countries. Moreover, imaging techniques such as CT and PET scans involve radiation exposure, which can pose health risks to patients. This can limit the adoption of these techniques, especially in pediatric patients. There are a limited number of specialized centers with the expertise and equipment to perform concussion imaging, which can limit patient access to this technology. Additionally, alternative diagnosis methods and lack of standardization impede the overall concussion imaging market revenue growth.
Concussion Imaging Market Ecosystem
The global concussion imaging market is analyzed from three perspectives: type, end user, and region.
Concussion Imaging Market by Type
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Based on the Type, the global concussion imaging market is segmented into computed tomography (CT) scans, magnetic resonance imaging (MRI) devices, X-rays, positron emission tomography (PET) scans, and others.
The magnetic resonance imaging (MRI) devices segment dominated the market with the principal revenue share in 2022, attributed to increasing awareness about the long-term effects of concussion and the need for early diagnosis and management. MRI devices use a strong magnetic field and radio waves to create detailed brain images, allowing physicians to identify any structural or functional abnormalities associated with concussion. MRI devices are preferred over other imaging techniques for concussion diagnosis because they provide a detailed view of the brain without using ionizing radiation, which can pose health risks to patients. MRI is also more sensitive in detecting subtle changes in brain tissue that may not be visible on other imaging techniques. Technological advancements in MRI devices, such as high-field MRI and functional MRI (fMRI) techniques, are also expected to drive market growth.
The computed tomography (CT) scans segment dominated the market with the second largest revenue share in 2022, owing to the need for quick and accurate diagnosis. CT scans use X-rays and computer processing to create detailed cross-sectional brain images, allowing physicians to identify any structural abnormalities associated with concussion. CT scans are often used as an initial imaging technique in cases of suspected concussion because they are widely available, quick, and inexpensive compared to other imaging techniques such as MRI. These factors contribute to the revenue growth of the computed tomography (CT) scans segment.
PET (Positron Emission Tomography) scans can play a role in concussion imaging, particularly in detecting changes in brain metabolism and blood flow that may not be visible on other imaging modalities such as CT or MRI. PET scans use a small amount of radioactive material to create images of the body's internal structures. They can detect changes in glucose metabolism, an indicator of brain activity. In concussion imaging, PET scans can be used to evaluate the severity and extent of brain damage caused by a concussion.
Similarly, X-ray imaging can be used to assess for fractures or dislocations in the skull or facial bones, which can indicate more severe injuries associated with concussion. In some cases, X-rays may also be used to assess for other conditions that can mimic concussion symptoms, such as sinus infections or dental problems.
Concussion Imaging Market by End User
Based on the end user, the global concussion imaging market is segmented into hospitals & clinics, diagnostic centers, research institutes, and others.
The hospitals & clinics segment is a key player in the concussion imaging market with the largest revenue share in 2022, owing to the availability of advanced diagnostic and therapeutic equipment and specialized healthcare professionals such as neurologists and neurosurgeons. Hospitals are equipped with advanced imaging equipment such as CT scans, MRIs, and PET scans, which are used to diagnose and manage concussions. Clinics, on the other hand, are smaller healthcare facilities that may not have the same level of diagnostic and therapeutic equipment as hospitals.
However, clinics are still important in the concussion imaging market as they provide convenient access to diagnostic services for patients with mild to moderate concussions. Clinics may also use portable imaging devices such as handheld ultrasound or portable CT scanners to provide imaging services in remote or low-resource areas. These overall factors contribute to the growth of the hospitals & clinics segment.
The diagnostic centers are expected to be the fastest-growing segment throughout the forecast period. Diagnostic centers specialize in providing diagnostic imaging services to patients, and they are increasingly becoming an important venue for concussion imaging. Diagnostic centers typically have advanced imaging equipment such as MRI, CT scan, and PET scan, as well as specialized healthcare professionals such as radiologists trained in interpreting imaging results. These centers offer convenient access to diagnostic services for patients with concussions and may also provide specialized services such as cognitive testing and rehabilitation.
Additionally, diagnostic centers are often preferred over hospitals and clinics for diagnostic imaging services due to their specialization, accessibility, and cost-effectiveness. Diagnostic centers may also collaborate with hospitals and clinics to provide a comprehensive range of diagnostic and therapeutic services for patients with concussions. These overall factors contribute to the growth of the diagnostic center segment.
Similarly, research institutes play a critical role in advancing the understanding of concussions and developing new imaging techniques and technologies for the diagnosis and management of concussions. Research institutes typically have specialized imaging equipment and personnel, access to research funding, and partnerships with academic and industry partners. These institutes conduct research studies to understand the mechanisms of concussion better, develop new imaging techniques and biomarkers for concussion diagnosis, and evaluate the effectiveness of various therapeutic interventions.
Concussion Imaging Market by Region
Based on region, the global concussion imaging market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global concussion imaging market with the largest revenue share in 2022. This large revenue share is attributed to the increased prevalence of concussions caused by car accidents and sports injuries on the continent. More government programs and awareness campaigns are focusing on concussion prevention, diagnosis, and treatment. Additionally, companies across the region are continuously involved in partnerships, mergers, and acquisitions, which is also helping in the market's revenue growth. For instance, in March 2023, BrainScope Company Inc. announced that Vizient, Inc., the largest healthcare performance improvement company driven by members, granted an Innovative Technology contract to their handheld Class 2 medical device. The device, which utilizes artificial intelligence and machine learning technology, is FDA-cleared and can detect objective biomarkers of structural (intracranial hemorrhage) and functional (concussion) brain injury in patients with suspected mild traumatic brain injury (mTBI). The decision to award the contract was based on recommendations from hospital professionals who serve on one of Vizient's member-led councils. This award highlights the unique features of the BrainScope device that can potentially improve the healthcare industry for Vizient members.
Competitive Landscape of the Global Concussion Imaging Market
The prominent players operating in the global concussion imaging market are:
Strategic Developments in Concussion Imaging Market
Concussion imaging refers to medical imaging techniques to diagnose and evaluate concussion, a type of traumatic brain injury (TBI).
The expected size of the global concussion imaging market in 2031 is US$ 10.51 billion.
The revenue CAGR of the concussion imaging market during the forecast period is expected to be 3.95% from 2023 to 2031.
The alternative diagnosis methods and lack of standardization restrict the global concussion imaging market revenue growth to its full potential.
Some prominent players operating in the global concussion imaging market are NovaSignal Corporation, Integra Lifesciences, Raumedic AG, Nihon Kohden Corporation, and BrainScope Company Inc.
*Insights on financial performance are subject to the availability of information in the public domain