NEWARK, DE / ACCESSWIRE / March 28, 2023 / The global Market For Chronic Brain Damage Management is experiencing significant growth due to a range of factors, including the increasing prevalence of chronic brain injuries and neurological disorders, advancements in technology, and rising healthcare spending. A report published by Future Market Insights predicts that the market will grow at a compound annual growth rate (CAGR) of 7% from 2023 to 2033, reaching a value of US$ 1.77 Billion by the end of the forecast period.
Chronic brain damage, which includes conditions such as stroke, traumatic brain injury, and cerebral palsy, is a leading cause of disability and death worldwide. The rising prevalence of these conditions is expected to drive the demand for chronic brain damage management in the coming years. According to the World Health Organization, approximately 15 million people suffer a stroke each year, and traumatic brain injury affects an estimated 69 million people annually.
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Advancements in technology are also contributing to the growth of the chronic brain damage management market. New treatment options, such as neurostimulation therapy and stem cell therapy, are being developed and gaining popularity due to their effectiveness and minimal invasiveness. Additionally, the use of telemedicine and remote monitoring is making it easier for patients with chronic brain damage to receive specialized care, regardless of their location.
Rising healthcare spending is another factor driving the growth of the chronic brain damage management market. Governments in many countries are increasing their healthcare budgets to improve infrastructure and expand access to specialized care for chronic brain damage. This is creating opportunities for healthcare providers to expand their services in the market and attract patients.
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 US$ 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
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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.
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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
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Table of Content
1. Executive Summary | Chronic Brain Damage Management Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/chronic-brain-damage-management-market
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About Future Market Insights, Inc.
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S., and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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