Traumatic brain injury is a condition caused by a sudden damage to the brain as a result of trauma, accident, assaults, or sports injuries. A serious injury during a traumatic incident or impact could result in damage to a particular part of the brain, leading to traumatic brain injury. It is characterized by confusion, hazy or blurred vision, speech impairment, dizziness, and or lack of consciousness. Traumatic brain injury can be classified into mild, moderate, or severe, depending upon the condition of the patient and symptoms associated with the incident. Patients suffering from traumatic brain injury are continuously monitored with the help of various techniques to evaluate the method and course of treatment and the effectiveness of the ongoing treatment in reducing the effects of the injury in patients.
Rise in incidence of traumatic brain injuries across the world due to increase in number of accidents, introduction of new techniques such as brain tissue oxygen monitoring in traumatic brain injury patients, new device approvals in the U.S. and Europe, and surge in number of clinical trials for evaluation of new techniques and devices for monitoring traumatic brain injury drive the global traumatic brain injury monitoring devices market. According to the Centers for Disease Control and Prevention (CDC), an estimated 1.4 million people in the U.S. alone sustain a traumatic brain injury, leading to around 50,000 deaths and an estimated 235,000 hospitalizations each year. However, lack of non-invasive and continuous monitoring devices in the market and high cost of monitoring devices are expected to restrain the market from 2017 to 2025.
The global traumatic brain injury monitoring devices market can be segmented based on device type, technique, end-user, and region. In terms of device type, the global market can be categorized into imaging devices, clinical examination devices, and monitoring devices. The imaging devices segment can be classified into computed tomography devices, magnetic resonance imaging, X-ray, and others. The monitoring devices segment can be bifurcated into invasive monitoring devices and non-invasive monitoring devices. The imaging devices segment accounted for the largest market share in 2016, owing to higher preference of health care providers and patients for the non-invasive technique for monitoring of traumatic brain injury. Based on technique, the global traumatic brain injury market can be divided into intracranial pressure monitoring (ICP) and partial pressure of oxygen in brain tissue (pBrO2). The intracranial pressure monitoring segment accounted for the largest market share in 2016, owing to increase in number of devices approved for this technique and introduction of new non-invasive monitoring devices by market players. In terms of end-user, the global market can be categorized into hospitals, diagnostic imaging centers, and other end-users.
The global traumatic brain injury monitoring devices market can be segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global traumatic brain injury monitoring devices market in 2016, and is expected to continue its dominance during the forecast period. This is attributed to increase in incidence of traumatic brain injuries, growing investments in research & development by market players to evaluate new devices, and high per capita health care spending in the U.S. According to the Centers for Disease Control and Prevention (CDC), the cost of treatment of traumatic brain injuries in the U.S. is around US$ 45 Bn each year. Moreover, an estimated 80,000 to 90,000 patients in the U.S. suffer from disabilities due to traumatic brain injuries every year. Europe is anticipated to account for the second largest share of the global market.
Key players operating in the global traumatic brain injury monitoring devices market are BioDirection, Inc., QuesGen Systems, Inc., BrainScope Company, Inc., and Neural Analytics, Inc., among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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