The Stroke Management Market was valued for $36,091.53 million in 2022 and is estimated to reach $73,977.22 million by 2032, exhibiting a CAGR of 7.4% from 2022 to 2032.
A stroke is a medical condition that occurs when the blood supply to the brain is abruptly cut off due to rupturing of blood vessels or blockage in blood supply to brain. This leads to depletion of oxygen to brain tissues, which results in the rapid death of brain cells. There are mainly three types of strokes namely ischemic stroke, transient ischemic attack, and hemorrhagic stroke. A comprehensive approach to the diagnosis and treatment of people who suffered from stroke is called stroke management. The diagnosis of stroke includes magnetic resonance imaging, carotid ultrasound, cerebral angiography, blood tests, and others. Stoke can be treated with tissue plasminogen activator, anticoagulant, antiplatelet, and antihypertensive medicines.
The stroke management market growth is driven by rising incidence of stroke, technological development in diagnostic imaging, and surge in adoption of telemedicine for stroke management. Factors such as sedentary lifestyle, unhealthy diets, and high stress levels leads to rise in incidences of stroke. For instance, according to the data published by World Health Organization (WHO), on World Stroke Day 2022, reported that stroke is the second leading cause of death across the globe. As per the same source, the lifetime risk of developing a stroke has increased by 50% and currently 1 in 4 people is estimated to have a stroke in their lifetime. This rise in stroke incidences has led to a higher demand for effective treatments and management strategies, which in turn drives the growth of the stroke management market.
In addition, the technological advancement in the diagnostic techniques also drives the market growth. The advanced imaging technologies such as magnetic resonance imaging and angiography systems have improved the diagnosis of stroke and enhanced patient care. For instance, Siemens Healthineers, a global medical technology company has received the Food and Drug Administration (FDA) approval for its ARTIS icono ceiling. ARTIS icono ceiling is an angiography system used for the advanced procedures in the interventional cardiology. Thus, technological advancement in the stroke imaging techniques further boost the market growth.
However, the high cost of stroke diagnosis and treatment limit the growth of stroke management market. The economic burden of stroke is the major factor hampering the market growth. For instance, according to World Stroke Organization (WSO), the Lancet Public Health article estimated treatment, rehabilitation, and indirect costs for stroke is more than $700 billion annually. Thus, high diagnosis and treatment cost negatively impact the growth of stroke management market.
On the other hand, surge in adoption of artificial intelligence for stroke management, increase in awareness about preventive healthcare, and rise in geriatric population in developing countries are expected to create lucrative opportunities for market growth during the forecast period.
The stroke management market is segmented on the basis of type, application, and region. On the basis of type, the market is classified into diagnostics, therapeutics, and software. The diagnostic segment is further categorized into magnetic resonance imaging, carotid ultrasound, cerebral angiography, electrocardiography, echocardiography, and others. The therapeutics segment is further divided into tissue plasminogen activator, anticoagulant, antiplatelet, and antihypertensive. As per application, the market is bifurcated into ischemic stroke and hemorrhagic stroke.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global stroke management market are Abbott Laboratories, Boston Scientific Corporation, Bristol-Myers Squibb Company, Cardinal Health, General Electric Company, Medtronic, Siemens AG, Aidoc, Brainomix, VasSol Inc., Qure.ai, Viz.ai, Inc., METHINKS, B Braun SE, iSchemaView, Inc., NeuraSignal, Inc., Deepnoid Co., Ltd., Heuron Co., Ltd., JLK, Koninklijke Philips N.V., and Merck & Co. Inc. Key players operating in the market have adopted product approval, acquisition, partnership, and product launch as their key strategies to expand their market share and product portfolio.
A stroke is a medical condition that occurs when the blood supply to the brain is abruptly cut off due to rupturing of blood vessels or blockage in blood supply to brain. This leads to depletion of oxygen to brain tissues, which results in the rapid death of brain cells. There are mainly three types of strokes namely ischemic stroke, transient ischemic attack, and hemorrhagic stroke. A comprehensive approach to the diagnosis and treatment of people who suffered from stroke is called stroke management. The diagnosis of stroke includes magnetic resonance imaging, carotid ultrasound, cerebral angiography, blood tests, and others. Stoke can be treated with tissue plasminogen activator, anticoagulant, antiplatelet, and antihypertensive medicines.
The stroke management market growth is driven by rising incidence of stroke, technological development in diagnostic imaging, and surge in adoption of telemedicine for stroke management. Factors such as sedentary lifestyle, unhealthy diets, and high stress levels leads to rise in incidences of stroke. For instance, according to the data published by World Health Organization (WHO), on World Stroke Day 2022, reported that stroke is the second leading cause of death across the globe. As per the same source, the lifetime risk of developing a stroke has increased by 50% and currently 1 in 4 people is estimated to have a stroke in their lifetime. This rise in stroke incidences has led to a higher demand for effective treatments and management strategies, which in turn drives the growth of the stroke management market.
In addition, the technological advancement in the diagnostic techniques also drives the market growth. The advanced imaging technologies such as magnetic resonance imaging and angiography systems have improved the diagnosis of stroke and enhanced patient care. For instance, Siemens Healthineers, a global medical technology company has received the Food and Drug Administration (FDA) approval for its ARTIS icono ceiling. ARTIS icono ceiling is an angiography system used for the advanced procedures in the interventional cardiology. Thus, technological advancement in the stroke imaging techniques further boost the market growth.
However, the high cost of stroke diagnosis and treatment limit the growth of stroke management market. The economic burden of stroke is the major factor hampering the market growth. For instance, according to World Stroke Organization (WSO), the Lancet Public Health article estimated treatment, rehabilitation, and indirect costs for stroke is more than $700 billion annually. Thus, high diagnosis and treatment cost negatively impact the growth of stroke management market.
On the other hand, surge in adoption of artificial intelligence for stroke management, increase in awareness about preventive healthcare, and rise in geriatric population in developing countries are expected to create lucrative opportunities for market growth during the forecast period.
The stroke management market is segmented on the basis of type, application, and region. On the basis of type, the market is classified into diagnostics, therapeutics, and software. The diagnostic segment is further categorized into magnetic resonance imaging, carotid ultrasound, cerebral angiography, electrocardiography, echocardiography, and others. The therapeutics segment is further divided into tissue plasminogen activator, anticoagulant, antiplatelet, and antihypertensive. As per application, the market is bifurcated into ischemic stroke and hemorrhagic stroke.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global stroke management market are Abbott Laboratories, Boston Scientific Corporation, Bristol-Myers Squibb Company, Cardinal Health, General Electric Company, Medtronic, Siemens AG, Aidoc, Brainomix, VasSol Inc., Qure.ai, Viz.ai, Inc., METHINKS, B Braun SE, iSchemaView, Inc., NeuraSignal, Inc., Deepnoid Co., Ltd., Heuron Co., Ltd., JLK, Koninklijke Philips N.V., and Merck & Co. Inc. Key players operating in the market have adopted product approval, acquisition, partnership, and product launch as their key strategies to expand their market share and product portfolio.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the stroke management market analysis from 2022 to 2032 to identify the prevailing stroke management market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the stroke management market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global stroke management market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- Diagnostics
- Type
- Magnetic Resonance Imaging
- Carotid Ultrasound
- Cerebral Angiography
- Electrocardiography
- Echocardiography
- Others
- Therapeutics
- Type
- Tissue Plasminogen Activator
- Anticoagulant
- Antiplatelet
- Antihypertensive
- Software
By Application
- Ischemic Stroke
- Haemorrhagic Stroke
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Boston Scientific Corporation
- Bristol-Myers Squibb Company
- General Electric Company
- Medtronic
- Aidoc
- Brainomix
- Qure.ai
- METHINKS
- iSchemaView, Inc.
- Deepnoid Co., Ltd.
- Heuron Co., Ltd.
- B. Braun SE
- Koninklijke Philips N.V.
- Abbott Laboratories
- Cardinal Health
- Siemens AG
- VasSol Inc.
- Viz.ai, Inc.
- NeuraSignal, Inc.
- JLK
- Merck & Co. Inc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: STROKE MANAGEMENT MARKET, BY TYPE
CHAPTER 5: STROKE MANAGEMENT MARKET, BY APPLICATION
CHAPTER 6: STROKE MANAGEMENT MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Stroke Management Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030, the global stroke management market size was valued at $31,702.20 million in 2020, and is projected to reach $67,771.95 million by 2030, registering a CAGR of 7.8% from 2021 to 2030.Stroke is the condition wherein a clot is formed in the artery and the oxygen supply to the brain is cut off. This leads to deprivation of oxygen to the brain cells, eventually causing death of brain tissue. A thrombotic stroke occurs when a blood clot is formed in the arteries that supply blood to the brain, whereas an embolic stroke forms away from brain, mainly due to the blood clot or deposition of debris in the heart, which causes narrowing of the brain arteries.
The major factors that drive the growth of stroke management market are increase in geriatric population and rise in prevalence of diseases such as diabetes. Moreover, rise in incidence of chronic diseases & diabetes, tobacco consumption, and constant technological developments for stroke management contribute toward the growth of the market. However, stringent government regulations pertaining to new product approvals for stroke management and lack of skilled professions for the diagnosis & treatment of stroke are expected to restrain the market growth during the forecast period. Conversely, ongoing R&D activities in the field of stroke management offers the lucrative growth for the market.
Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted among humans. Amidst the initial outbreak of COVID-19, the reduced hospitals admissions of the stroke patients were observed. It was due fear about the infection during a period of distancing and lockdown. Various regions reported the reduction in acute stroke admissions in the hospital indicating that many patients with moderate and severe stroke were also avoiding the hospital presentation. For instance, according to the data of the National Institute of Health, in the central and south Texas, the patient admission, treatment, and discharge volumes for acute stroke treatment have decreased significantly since COVID-19-related lockdown orders were issued.
The demand for the diagnostic devices of the stroke and the monitoring devices were reduced. The production plants of the devices were shut down during the lockdown. This lockdown created the financial crisis among the market players. This further led to the disturbances in import and export of the devices across the countries. Overall, the impact of COVID-19 on the stroke management market was recorded to be fairly negative. This was attributed to decrease in the demand for the diagnostic devices of the stroke disease. Moreover, the market players have reduced the investment in raw materials and resources owing to the decrease in number of hospital admission of the stroke patients.
The stroke management market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into diagnostics and therapeutics. The diagnostics segment is classified into computed tomography scan (CT scan), magnetic resonance imaging (MRI), carotid ultrasound, cerebral angiography, electrocardiography, echocardiography, and others. The therapeutics segment is classified into tissue plasminogen activator, anticoagulant, antiplatelet, and antihypertensive. By application, it is classified into is chemic stroke and hemorrhagic stroke. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
On the basis of type, the global stroke management market is classified into diagnostics and therapeutics. Diagnostics segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to technological advancements in the stroke management devices, increase in adoption of stroke management devices, rise in incidence rate of chronic diseases like diabetes, and increase in number of advanced and effective product launches.
By application, the global stroke management market is classified into ischemic stroke and hemorrhagic stroke. Ischemic stroke segment was the major contributor to the global market in 2020, and is anticipated to remain dominant during the forecast period, due to increase in healthcare awareness, rise in incidence of diabetes, surge in number of tobacco users, and growth in geriatric population.
North America accounted for major share of the global stroke management market share in 2020, and is expected to remain dominant throughout the forecast period. This is attributed to increase in incidences of chronic diseases like diabetes, surge in demand for stroke management devices, availability of advanced healthcare facilities with trained medical professionals, rise in number of R&D activities along with large presence of key players, and surge in investment made by governments in the healthcare system. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period. Moreover, Japan and China are expected to grow at high CAGR in Asia-Pacific stroke management market majorly due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced instruments, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of stroke management.
Key Findings Of The Study
- On the basis of type, the diagnostics segment held majority share in the global market in 2020
- On the basis of application, the ischemic stroke segment held largest stroke management market share in 2020, and is expected to remain dominant throughout the forecast period
- Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 91% during the forecast period
Companies Mentioned
- Boston Scientific Corporation
- Bristol-Myers Squibb Company
- General Electric Company
- Medtronic
- Aidoc
- Brainomix
- Qure.ai
- METHINKS
- iSchemaView, Inc.
- Deepnoid Co., Ltd.
- Heuron Co., Ltd.
- B. Braun SE
- Koninklijke Philips N.V.
- Abbott Laboratories
- Cardinal Health
- Siemens AG
- VasSol Inc.
- Viz.ai, Inc.
- NeuraSignal, Inc.
- JLK
- Merck & Co. Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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