FN Media Group News Commentary
PALM BEACH, Fla. , Aug. 9, 2024 /CNW/ -- A concussion is a mild traumatic brain injury temporarily disrupting the brain's normal function. Generally, concussions are induced by a blow or jolt to the brain. However, it may occur from a hit to the body, which produces a reflex force to the head. In falls, sports, and car accidents, concussions are primarily seen. Factors such as the increasing incidence of mild traumatic brain injuries, ongoing product development, and rapidly growing geriatric population are expected to enhance the global concussion market growth. The global concussion market is primarily driven by the increasing incidence of mild traumatic brain injuries and a growing number of geriatric populations worldwide. According to a recent survey conducted by the University of Pittsburgh's Brain Trauma Research Center, over 62,000 concussion injuries are sustained in high school contact sports every year in the U.S. Besides, the global incidence of TBI is equivalent to 10 million people annually, according to the World Health Organization (WHO). Therefore, the increasing prevalence of mild traumatic injuries is expected to provide a favorable push to the market to grow over the forecast period. A report from Straits Research said that the global concussion market size, which was valued at USD 7.80 million in 2023, is expected reach USD 10.44 billion by 2032, growing at a 3.7 % CAGR during the forecast period. Factors such as increasing number of mild traumatic injuries cases to drive the concussion market growth. Active companies in the biotech industry this week include: Oragenics, Inc. (NYSE: OGEN),Abbott(NYSE: ABT), Biogen Inc. (NASDAQ: BIIB), Pfizer Inc. (NYSE: PFE), AbbVie (NYSE: ABBV).
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