Coma Treatment Devices Market Segment Analysis – By Type
The coma treatment devices market can be segmented into two classes- Toxic Metabolic Encephalopathy and Anoxic Brain Injury. Toxic Metabolic Encephalopathy dominated the market in the year 2020. This is owing to the increase in the metabolic dysfunctions of the populations under consideration. The primary reason for such uprising is uncontrolled diabetes, which in turn leads to kidney or multiple organ failure. Apart from that, the other accompanying reasons can be an increase in the toxicity of the lungs or liver. As per WHO- and surveys 5% increase in premature death by diabetes was present from 2000 through 2016. Apart from the following, the rise in diabetes has increased by up to 290% from 1980 to 2014. The associated increase in diabetes has led to the mortality of 1.5 million people globally and another 2.2 million people had died owing to the high glucose levels. The following statistics provide for why the coma treatment devices market had a large share in treating cases related to toxic metabolic encephalopathy.
Although, anoxic brain injury is the subcategory that shows the fastest rate of CAGR 7.5% in the forecast period of 2021-2026. The following is attributed to the rising number of road traffic injuries, which include both fatal and non-fatal. As per WHO, 1.3 million people lose their lives owing to road traffic crashes. Of which the maximum number of deaths are contributed by the low income and middle-income countries. The most vulnerable to all the cases of road crashes are- pedestrians, motorcyclists and cyclists.
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Coma Treatment Devices Market Segment Analysis – By End User
The Coma Treatment devices market is bifurcated into two subcategories- Hospitals and Clinics. Hospitals dominated the market in the year 2020. The following is owed to the better medical care and instruments available in the setups such as hospitals. The cases of road accidents and other medical toxicity in the body are preferably bought into hospitals, as the primary care is efficient than the latter-clinics. Another reason which substantiated the demand for hospitals in 2020 is due to the rise in road accidents and COVID-19 induced diabetic-kidney failures moving the patients in the category of coma.
The former segment that is Hospitals is projected to grow at a CAGR of 7.9% over the forecast period of 2021-2026. The rising investment in healthcare will substantially increase the equipment’s and instruments which the hospitals own to handle coma induced ailments. For example, the health sector in real terms grew by over 3.9% a year from 2000 through 2019, while the increase in GDP was close to 3% a year. The following figure demonstrates how quickly the healthcare sector spending is increasing, leading to better treatments.
Coma Treatment Devices Market Segment Analysis – By Geography
North America constituted the dominant share of 34.8% in the year 2020. The following is owing to better medical infrastructure in the countries which constitute the region. The high-income countries account for 80% of global spending. $41 is the annual cost spend by a person from middle-low-income countries while $2,937 is the cost spent by a person belonging to the North American region.
The market is set to change its course over the forecast period of 2021-2026. As Asia- Pacific shows lucrative opportunities for the world manufacturing companies of coma treatment equipment. This is owing to the rising metabolic diseases and also due to the rising healthcare infrastructure development projects which will aid the market of coma treatment.
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Coma Treatment Devices Market Drivers
Rising prevalence of fatal accidents will substantially increase the demand for Coma Treatment Devices
The number of cases of road accidents has driven multiple times in countries such as India. The cases accounted for in India pertaining to the deaths are 11% of the total world. The road crashes are close to 4.5 lakhs per year of which the death ratio is a staggering 33%.
Medically Induced Coma is a preferred state a doctor keeps the patient in after sustaining a fatal injury. Blood Parameter Devices, Monitors and other forms of devices are used to help patient survive during the stage.
Toxic-Metabolic Health incidents on a rise which in turn causes coma
Patients suffering from toxic-metabolic health are on a 5% yearly rise owing to the rise in diabetes amongst the population. Apart from diabetes, kidney failures and lung ailments are other concerns for coma. IV Pumps, Monitors, ECG machines along with imaging techniques are widely used during the stage of coma. The following aids the growth of the market.
Coma Treatment Devices Market Challenges
Higher Treatment Costs owing to heavy capital investments and maintenance of devices
MRI machines can cost as much as $1.5 Million and can range up to $3 Million. Owing to higher capital costs, maintenance costs the charges to get an MRI scan can cost up to $2600. The following cost is an average monthly salary for US Citizen. The following can hamper the growth of the market.
Market Landscape
The coma treatment devices market believes in the processes of mergers and acquisitions along with product development to sustainably grow in the industry. The following are the 10 companies in the manufacturing space of Coma Treatment Devices.
Johnson & Johnson,
Medtronic,
GE Healthcare,
Siemens Healthcare,
Carestream,
Philips Healthcare,
Shimadzu Corporation,
Esaote,
Masimo Corporation
Stryker Corp
Recent Developments
In October 2020, Imbio- A leading healthcare technology company partnered with Siemens. The partnership will help Siemens in conducting various imaging services such as MRI and CT scans. By combining the resources and AI Offered by Imbio, an automated analysis of pulmonary diseases can be provided during the various scans offered by Siemens.
Key Takeaways
North America saw an exponential demand for coma treatment devices owing to the rise in diabetic cases, and traumatic head injuries in the year 2020.
Asia-Pacific region promises lucrative growth owing to the better medical infrastructure and the rise in cardiovascular diseases.
Strength, Opportunities, Weaknesses and Threat analysis will be provided in the premium report.
High ventilator usage costs and the related medical expenditure to support a patient life during a coma poses a major threat to the market.
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