As a result of technological advancements, new product launches, and an increase in partnerships, the global concussion market is currently witnessing a rapid transformation. According to predictions, the market, which is currently worth USD 6.82 billion, will reach USD 10.20 billion in 2031. The increase will correspond to a 5.9% increase in the compound annual growth rate (CAGR). The increase in TBI (Traumatic Brain Injury) research over the years has been accompanied by a focus on prevention, as its causes, diagnosis, and management are rapidly transforming. The introduction of new diagnostic and regulatory technologies has created avenues for new entrants, all the while ensuring that the future for concussion management is promising.
Technological Adoption in Concussion Management
Wearable devices, which are currently classified as the most significant and innovative devices in terms of usage, are able to provide accurate and fast diagnostic results by using artificial intelligence (AI) algorithms in addition to detecting symptoms, head impacts, and real-time concussions. With the advent of functional MRI (fMRI) and diffusion tensor imaging (DTI), clinicians now have access to cutting-edge imaging technology that allows for better assessment and diagnosis of brain activity and pathological damage.
Neurostimulation therapies and tailored rehabilitation approaches are cutting-edge methods for treating concussions. These interventions and approaches are moving in the right direction as they shorten the time to recover while also minimizing the chances of complications in the future.
Emerging Players in the Concussion Market
There are several emerging players in the concussion market with potential for innovation in tools that assist in making diagnoses of concussions. Hearables, Zebra Medical Vision, SyncThink, and Apple are companies that are changing the landscape of concussion diagnosis thanks to their platforms based on artificial intelligence. These technologies are quite powerful in that they use imaging data when diagnosing concussions and can identify forms of injury that cannot be seen with the naked eye. Such advancements are making it easier for a caregiver to do more in less time when treating a patient.
Furthermore, there is an influx of start-ups targeting the portable concussion diagnostic devices market, and these handheld EEGs allow concussions to be evaluated quickly and on the field. Such portable solutions are useful in the sporting field and at workplaces where there is no immediate access to the facilities.
Regulatory Updates in Concussion Treatment
Concussion treatment is, of course, controversial, so it is also subject to ongoing humanization of the regulations. Market access has always been more challenging for any new business operating in the field of medicine. The US FDA is one of the regulators that is very keen on concussion technologies and treatments targeting this condition. New regulations are being developed and enforced to ensure any device or drug used for diagnostic or therapeutic purposes is safe for the users and patients.
Technological Advancements Regarding Concussions
Talking about some of the key contributing factors towards concussion management, the use of the AI-based concussion management system takes the forefront. The inclusion of this platform helps clinicians improve on their speed and manner of diagnosing patients alongside the multiple features in which it encompasses, including treatment. Both wearables and apps tracking symptoms alongside imaging scans ethically contribute towards the making of a personalized treatment plan.
Final Thoughts
The use of technology alongside key players venturing into the market, and the constant updates of the set regulations, is bound to change the way concussions are viewed and treated. It is safe to conclude that the future of this industry is bright, as we can only expect things to get better over time. In the longer run, the potential advancements can be used as a valuable tool by both patients and clinicians along with researchers.
