Concussion Market is estimated to be valued at US$ 10.20 Bn in 2031

A newly published report by Coherent Market Insights reveals a sustainable growth in opportunities in the concussion market. Coherent Market Insights’ analyst projected the concussion market is estimated to be valued at US$ 10.20 Bn in 2031. It is expected to exhibit a CAGR of 5.9% over the forecast period 2024-2031.

Increasing number of sports-related injuries and road accidents drives market growth. As per a report by Centers for Disease Control and Prevention (CDC), every year around 3.8 million concussions occur in sports and recreational activities in the U.S. alone.

Similarly, as per World Health Organization (WHO), road traffic injuries claim around 1.35 million lives each year globally. Rising awareness regarding the consequences of concussions is also boosting the growth of the market.

Key Market Trends: Diagnostic device miniaturization is one of the key trends being observed in the concussion market. Major players are focusing on developing portable and easy-to-use diagnostic devices for detecting concussions. For instance, in 2021, BrainScope launched an FDA-cleared portable concussion assessment device called BrainScope One.

Similarly, companies are increasingly focusing on developing advanced helmets with integrated sensors to detect impacts and notify medical personnel. For example, companies like Shockbox and HeadHealth are developing such intelligent helmets targeting various contact sports.

Concussion Market Opportunities –The diagnosis segment accounted for a larger market share in 2024 and is expected to grow at a CAGR of 5.8% during the forecast period. Diagnosis methods for concussions include magnetic resonance imaging (MRI), computed tomography (CT) scans, electroencephalography (EEG), X-rays, and others that help in detecting any brain injuries. MRI and CT scans are widely used for concussion diagnosis as they provide high-resolution images of the brain and skull.

The treatment segment is expected to grow at a faster CAGR of 6.2% during 2024-2031. It is because of the fact that medication-based treatments are increasingly adopted for recovery from concussions. The treatment segment comprises medicines prescribed to treat concussion symptoms such as headaches, dizziness, fatigue, and mood/sleep changes.

Key Market Takeaways – The global concussion market size was valued at USD 6.5 billion in 2024 and is projected to reach USD 10.20 billion by 2031. Factors such as the rising incidence of head injuries in sports, motor vehicle accidents, and fall-related injuries are fuelling market growth.

Based on assessment methods, the diagnosis segment accounted for the larger market share in 2024. Within diagnosis, MRI scanning is dominating owing to its high accuracy in detecting brain injuries. By end users, hospitals hold the largest share of the concussion market. This is due to the availability of advanced diagnostic technologies and experienced medical professionals under one roof. North America is anticipated to dominate the global concussion market during the forecast period. This is due to the rising awareness about concussions and availability of advanced healthcare facilities.

Competitor Insights

Some of the major players operating in the concussion market include

Nihon Kohden Corporation
Integra LifeSciences
Compumedics Limited
BioDirection
Oculogica
Abbott Laboratories
BrainScope Company Inc.
Magstim
BIOMÉRIEUX S.A

Recent Developments

In July 2024, Oculogica, a neuro-diagnostic business focusing in eye-tracking technology, reported that Health Canada authorized their EyeBOX concussion diagnosis tool. This approval enables healthcare providers in Canada to use EyeBOX for quick and accurate assessment of mild traumatic brain injuries (mTBIs).

More information is available in full report