Market Highlights
Over the last decade, the number of hospitals has increased to a great extent, which has influenced the growth of the market positively. Moreover, increasing demand for better treatment and changing reimbursement policies have fueled the market growth.
According to the National Safety Council reports, head trauma caused estimated 4.6 million accident related injuries and 40,200 deaths in 2016 worldwide. Moreover, average car accident data from 2005-2015, it is estimated that 5,808,272 car accidents occur every year in the U.S.
Increasing prevalence of neurological/brain disorder like epilepsy, rising need for better treatment, increasing investment in biotechnology and pharmaceutical industries for R&D, and availability of funds drive the growth of the market. Furthermore, increasing government support for research & development, changing lifestyle, and rapid development in technology are likely to fuel the market growth during the forecast period. On the other hand, higher cost of the treatment procedure may slow the market growth during the review period.
The Global Head Trauma Market is expected to grow at a CAGR of ~8.3% during the forecast period 2017-2023.
Regional Analysis
The Americas dominate the global head trauma market owing to the presence of huge patient population, high health care spending, and increasing government support for research & development. Moreover presence of major market players may boost the market growth during the forecast period.
Europe holds the second largest share of the global market. The increasing focus of various government agencies on treating various brain disorders or brain injuries such as epilepsy, and depression are likely to have a positive impact on the growth of the market. The growing public awareness may boost the adoption of these devices in the European market.
Asia Pacific is the fastest growing head trauma market across the globe. Japan holds the major share of the regional market due to availability of technology and huge healthcare spending. Rapidly developing economy, increasing healthcare expenditure, and government initiatives for research & development will drive the market in China and India over the assessment period.
The Middle East and Africa hold the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
Segmentation
The global head trauma market is segmented on the basis of types, diagnosis, treatment, and end user. On the basis of the type, it is segmented into hematoma, and hemorrhage. On the basis of the diagnosis, it is segmented into physical examination, blood test, brain scans, and others. The brain scan is further segmented into computerized tomography (CT) scan, magnetic resonance imaging (MRI) and electroencephalography (EEG). Based on the treatment it is segmented into medical treatment, anti-seizure drugs, surgery, and others. On the basis of the end user, it is segmented into hospitals & clinics, research laboratories, and others.
Key Players
Some of key the players in the market are Fujifilm Holdings (Japan), GE Healthcare (U.S.), Siemens Healthcare(U.S.), Philips Healthcare (U.S.), Shimadzu Corporation (Japan), Toshiba Medical Systems Corporation (Japan), Carestream Health (U.S.), Nihon Kohden Corporation (Japan), Electrical Geodesics Inc. (U.S.), Masimo Corporation (U.S.), Hologic (U.S.), Esaote (Italy), and others.
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