The primary driver fueling the expansion of the market for traumatic brain injury therapeutics is the need for extensive surgical procedures to treat and correct these injuries. The market for traumatic brain injury therapeutics is also anticipated to rise due to several technological developments and advancements, substantial research and development efforts, and many clinical trials to develop traumatic brain injuries. The market for traumatic brain injury therapeutics is growing, but in developing nations, there is a lack of understanding among diverse people and consumers of this treatment. Furthermore, the market for the traumatic brain injury therapeutics will have plenty of chances throughout the forecast above period due to the rise in auto accidents and sports-related injuries.
The recession will significantly affect the market for traumatic brain injury therapeutics. Research and development of treatments for traumatic brain injury may receive less financing during a recession. The development of novel and cutting-edge treatments might be slowed down. A recession may cause people to struggle financially, making them less likely to seek treatment for traumatic brain injuries, diminishing the market for related treatments. In addition, many people may lose their jobs during a recession and, as a result, their healthcare coverage. The number of persons who can afford to get treatments for traumatic brain injury may decline.
Increasing demand for efficient and high-quality manufacturing processes to drive market growth
One of the main factors propelling the market for TBI therapeutics is the rising prevalence of traumatic brain injury (TBI). The World Health Organization (WHO) reports that TBI is a leading global cause of death and disability. The prevalence of TBI is rising globally as a result of several factors, including an uptick in traffic accidents, sports-related injuries, and falls among the elderly. One of the main causes of TBI, particularly in low- and middle-income nations, is traffic accidents. The WHO estimates that 1.35 million people die annually as a result of traffic accidents and that up to 50 million additional individuals get non-fatal injuries, including TBI. Furthermore, the rising prevalence of TBI is also attributed to sports-related injuries. Thus, this is driving the market growth.
High Cost of Traumatic Brain Injury Therapeutics to Limit Market Growth
Traumatic brain injury therapeutics can be expensive, which can be a big obstacle for individuals needing them. Depending on the extent of the injury, the kind of care required, and the patient's location, the cost of TBI therapy may change. Inpatient care, for instance, can be quite expensive, particularly for patients who need long-term rehabilitation and intense care. In addition, surgery and other procedures like brain imaging and monitoring might greatly increase the price of therapeutics. Furthermore, the cost of TBI therapeutics may also depend on the accessibility of specialized resources like hospitals and medical staff. Patients in rural areas or in low- and middle-income nations can have less access to specialized care, which could lead to increased travel and lodging expenses.
Based on treatment, the traumatic brain injury therapeutics market is segmented into immediate emergency care, medications and surgery. The medications category dominated the market in 2022. The signs and symptoms of TBI, such as pain, inflammation, and seizures, are frequently treated with medications. Medications like painkillers, anti-inflammatories, and anticonvulsants are frequently utilised. Medications are frequently employed to manage symptoms and stop future brain damage after traumatic brain injury (TBI). The precise symptoms and extent of the injury determine which drugs are recommended for TBI.
By Route of Administration
Based on route of administration, the traumatic brain injury therapeutics market is segmented into parenteral and oral. The oral category dominated the market in 2022. The most popular method of administering TBI treatments is oral. Patients can take the prescription by mouth with or without food when prescribed by their doctor. For stable patients who can take oral drugs, this method of administration is the best because it is practical and simple to administer.
By Patient Age
Based on patient age, the traumatic brain injury therapeutics market is segmented into children, teenager, and elder. The elder category dominated the market in 2022. Patients who have experienced a traumatic brain injury and are 18 years of age or older are included in this segment. Adults 65 years of age and older had the highest rates of traumatic brain injury-related hospitalisations and fatalities, according to the Centers for Disease Control and Prevention (CDC).
Based on gender, the traumatic brain injury therapeutics market is segmented into male and female. The male category dominated the market in 2022. Males are more likely than women to suffer from TBI, and they are more likely to do so as a result of physical activities like contact sports, military conflict, and car accidents. As a result, there might be a higher need for therapies catering to male TBI patients' unique requirements.
By Cause of Injury
Based on cause of injury, the traumatic brain injury therapeutics market is segmented into falls, motor vehicle traffic, sports and others. The motor vehicle traffic category dominated the market in 2022. The most common causes of TBI include motor vehicle traffic accidents. Therapeutics that cater to the particular requirements of patients who have suffered a TBI from accidents may be in higher demand.
By End Users
Based on end users, the traumatic brain injury therapeutics market is segmented into hospitals, neurology clinics, independent pharmacies and others. The automotive category dominated the market in 2022 due to an increase in brain surgeries performed in hospitals and an increase in the number of TBI patients globally. Modern technology is available in hospitals, and trained neurologists use it. This is anticipated to hasten the segment's growth during the forecast period.
North America is projected to hold the largest share of the traumatic brain injury therapeutics market over the forecast period due to a significant increase in instances connected to falls and other accidents, substantial R&D by FDA scientists, and other causes. The U.S. had the biggest market share in North America for traumatic brain injury therapeutics. The expansion can also be attributed to credible medical facilities nearby, expanding government initiatives, and continental awareness-building campaigns for brain injuries. On the other hand, the Asia Pacific traumatic brain injury therapeutics market is anticipated to grow significantly. Several variables, including an ageing population, an increase in TBI cases, traffic accidents, and violence, cause this. Many interventional procedures have been performed in the Asia Pacific region due to expanding patient affordability and other factors.
LIST OF KEY COMPANIES PROFILED:
- Zimmer Biomet
- Neuren Pharmaceuticals
- Teva Pharmaceutical Industries Ltd
- Medicortex Finland Oy
- AMARANTUS BIOSCIENCE HOLDINGS, INC.
- Stemedica Cell Technologies, Inc.
- BANYAN BIOMARKERS, INC.
- QuesGen Systems, Inc.
- Neural Analytics, Inc.
- Johnson & Johnson Services Inc.
- Smith & Nephew
- Bioretec Ltd.
- B.Braun Melsungen AG
- Arthrex, Inc.
- Orthofix Medical Inc.
- Acumed LLC
- Wright Medical Group N.V.
- NuVasive Inc.
- Advance Orthopaedic Solutions
- CONMED Corporation
|Market Size in 2022||USD 569.5 Million|
|Market Forecast in 2030||USD 1036.7 Million|
|Compound Annual Growth Rate||10.50 %|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Treatment, By Route of Administration, By Patient Age, By Gender, By Cause of Injury, By End Users, and By Geography|
|By Route of Administration||
|By Patient Age||
|By Cause of Injury||
|By End Users||