The global stroke diagnostic and therapeutic market size was estimated to be US$ 36.90 Billion in 2022 and is expected grow at a CAGR of 8.1% between 2023 to 2032.
A stroke is a serious medical condition in which the blood flow to the brain is interrupted, leading to brain damage. This can happen due to a blocked artery (ischemic stroke) or bleeding in the brain (haemorrhagic stroke).
Anyone can develop a stroke, but the risk increases with age, as well as with certain health conditions such as hypertension, diabetes, and heart disease. Other risk factors include smoking, physical inactivity, and a diet high in saturated fats and salt. The prevalence of stroke varies depending on the population, but it is a leading cause of death and disability worldwide.
According to the World Health Organization, an estimated 15 million people have a stroke each year, with 5 million dying and another 5 million left permanently disabled.
The mortality ratio of stroke varies depending on the type of stroke and the severity of the brain damage. The overall mortality rate for stroke is about 10%, but for those who survive, many will have significant long-term disability. However, with prompt medical treatment and rehabilitation, many people can recover from a stroke and resume their normal activities.
The stroke diagnostics and therapeutics market is driven by several factors, including the rising prevalence of stroke, advancements in technology, increasing healthcare expenditure, and growing awareness about stroke. The World Health Organization (WHO) reports that stroke is the second leading cause of death globally and a major cause of disability. This has led to an increase in the number of stroke patients, driving demand for stroke diagnostics and therapeutics.
Advances in technology, such as magnetic resonance imaging (MRI) and computed tomography (CT) scans, have improved the accuracy of stroke diagnosis and have helped identify new treatment options. New therapies, such as thrombolysis and thrombectomy, have also improved the chances of recovery for stroke patients.
Governments around the world are investing heavily in healthcare infrastructure and technology to improve the diagnosis and treatment of stroke, which is expected to lead to increased demand for stroke diagnostics and therapeutics in the future. Additionally, growing awareness about stroke and its symptoms is also driving the market.
On the basis of type, Global stroke diagnostics and therapeutic market is segmented into two major categories – stroke therapeutics and stroke diagnostics.
The stroke therapeutics segment is the largest in the global stroke diagnostics and therapeutics market. This segment includes various therapeutic options such as thrombolysis, thrombectomy, and antiplatelet therapy. These therapies are used to remove blood clots and restore blood flow to the brain, which can greatly improve the chances of recovery for stroke patients. The increasing incidence of stroke and the availability of new and advanced therapeutic options are the major drivers of this segment.
The trend in this segment is towards the development of more targeted and effective therapies. For example, the use of thrombolysis and thrombectomy has increased in recent years, as these therapies have been shown to be effective in improving the chances of recovery for stroke patients. Additionally, the development of new antiplatelet therapies and the use of combination therapies are also expected to drive growth in this segment.
Moreover, the increasing focus on the development of personalized medicine and the use of biomarkers to identify the most appropriate treatment for each patient are also expected to drive growth in this segment. In the coming years, the use of telemedicine and remote monitoring is expected to increase, which will further boost the market for stroke therapeutics.
On the basis of application, the market is divided into Ischemic Stroke and Hemorrhagic Stroke. Amongst these segments, Ischemic stroke is the largest segment owing to the fact that it is the most common type of stroke, accounting for about 87% of all strokes.
An ischemic stroke occurs when a blood clot blocks the flow of blood to the brain, resulting in a lack of oxygen and nutrients to brain cells, leading to their damage or death. It is a result of underlying conditions like high blood pressure, heart disease, and cholesterol.
While, the fastest growing segment in the stroke market is the hemorrhagic stroke segment due to the increasing incidence of intracerebral hemorrhage, subarachnoid hemorrhage, and other types of hemorrhagic stroke. This is likely due to a combination of factors including an aging population, an increasing prevalence of risk factors such as high blood pressure and heavy alcohol consumption, and improved diagnosis and treatment.
Based on the end-user market is segmented into Hospitals, Clinics, Ambulatory Surgery Centers (ASCs), Home Care, and other end-users. Amongst these end users, the hospital is the largest end user. While, the trend in this market is towards an increase in the number of ambulatory surgery centers (ASCs) and home care services. This is due to the growing demand for more convenient and cost-effective healthcare options.
ASCs are becoming increasingly popular for minor procedures, such as diagnostic imaging and thrombolysis, as they offer a more streamlined and efficient alternative to traditional hospital-based care.
Similarly, home care services are becoming more popular as they provide patients with the opportunity to receive care in the comfort of their own homes. This has led to an increase in the number of stroke patients who are being treated at ASCs and through home care services.
Regionally, global stroke diagnostics and therapeutics market covers, North America, Europe, Asia Pacific, Middle East and Africa, and South America. Amongst these regions, North America dominates the market closely followed by Europe and there the market is also growing rapidly due to the increasing incidence of stroke and the high healthcare expenditure.
The fastest growing segment of the global stroke diagnostics and therapeutics market is Asia Pacific. This is primarily due to the rapidly growing population and increasing prevalence of stroke in countries such as China and India. According to the World Health Organization, stroke is the leading cause of death in China and the second leading cause of death in India.
The large and aging population in these countries is also contributing to the growing incidence of stroke. Additionally, the increasing healthcare expenditure and growing awareness about stroke in these countries are also driving the market.
Furthermore, the healthcare infrastructure and technology in the Asia Pacific region is also improving, which is leading to an increase in the number of patients seeking medical attention for stroke-related symptoms. This is resulting in an increase in the number of stroke patients and driving demand for stroke diagnostics and therapeutics in the region.
The government and private sectors in these countries are investing heavily in healthcare infrastructure and technology to improve the diagnosis and treatment of stroke, which is further driving the market.
Moreover, the rising awareness about the importance of early diagnosis and treatment of stroke in these countries, along with the increasing adoption of new technologies and therapies, is expected to drive the growth of the Asia Pacific stroke diagnostics and therapeutics market in the future.
Key growth strategies adopted by companies in the stroke diagnostics and therapeutics market include product innovation, strategic partnerships and collaborations, and geographic expansion.
One example of product innovation is the development of new diagnostic technologies such as portable CT scanners and mobile stroke units, which allow for more convenient and efficient stroke diagnosis.
An example of strategic partnerships and collaborations is the partnership between Medtronic and Cerenovus, where Medtronic will acquire Cerenovus and its portfolio of products for stroke treatment which will help Medtronic to expand their presence in the stroke diagnostics and therapeutics market.
Another example of geographic expansion is the entry of companies into emerging markets such as Asia Pacific, where the incidence of stroke is high and the demand for stroke diagnostics and therapeutics is expected to grow.
These strategies help companies to increase their market share, improve their product offerings, and access new markets, which are key drivers of growth in the stroke diagnostics and therapeutics market.
Some of the biggest companies operating in the global stroke diagnostic and therapeutic market are Abbott Laboratories, Boston Scientific Corporation, Cerebrotech Medical Systems, Inc., Cordis Corporation, GE Healthcare, Genentech Inc., Gowerlabs, Hyperfine MRI, Koninklijke Philips N.V., Medfield Diagnostics, Medtronic plc., Merck & Co., Inc., Neural Analytics, NIRX, Samsung Neurologica, Siemens AG, Stryker Corporation, and many more.
By Type
By Application
By End-User
Based on Region
The stroke diagnostic and therapeutic market size was estimated to be US$ 36.90 Billion in 2022.
The stroke diagnostics and therapeutic market is estimated to expand at a CAGR of 8.1% from 2023 to 2032.
The stroke diagnostics and therapeutics market is driven by several factors, including the rising prevalence of stroke, advancements in technology, increasing healthcare expenditure, and growing awareness about stroke.
The stroke therapeutics segment is the largest in the global stroke diagnostics and therapeutics market. The increasing incidence of stroke and the availability of new and advanced therapeutic options are the major drivers of this segment.
The stroke diagnostics segment is the largest segment owing to the increasing number of stroke cases and the need for accurate diagnosis to determine the appropriate treatment.
The hospital is the largest end user. While, the trend in this market is towards an increase in the number of ambulatory surgery centers (ASCs) and home care services. This is due to the growing demand for more convenient and cost-effective healthcare options.
The North America dominates the market closely followed by Europe and there the market is also growing rapidly due to the increasing incidence of stroke and the high healthcare expenditure.
The fastest growing segment of the global stroke diagnostics and therapeutics market is Asia Pacific. This is primarily due to the rapidly growing population and increasing prevalence of stroke in countries such as China and India.
Abbott Laboratories, Boston Scientific Corporation, Cerebrotech Medical Systems, Inc., Cordis Corporation, GE Healthcare, Genentech Inc., Gowerlabs, Hyperfine MRI, Koninklijke Philips N.V., Medfield Diagnostics, Medtronic plc., Merck & Co., Inc., Neural Analytics, NIRX, Samsung Neurologica, Siemens AG, Stryker Corporation among others, are the prominent companies in this market.
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