The stroke diagnostic and therapeutic market size is projected to be worth around USD 65.6 billion by 2030, growing with CAGR of 8%, according to report study by Precedence Research.
OTTAWA, Feb. 17, 2021 (GLOBE NEWSWIRE) -- The global stroke diagnostic and therapeutic market size is projected to surpassed over USD 30.3 bn in 2020.
Stroke is a brain attack, and when blood supply to the brain is diminished or halted, it occurs. Due to the inadequate supply of oxygen and nutrients to the brain, brain cells die in this state. It can happen to anybody at any moment and its manifestations are hemorrhagic, ischemic and ischemic transient assaults. Blockage of arteries linked to the brain is the main cause of ischemic stroke, while hemorrhagic stroke is caused by brain arteries bursting open or leaking blood. It leads to TIA stroke if blood flow is momentarily disrupted for a short amount of time. The fifth leading cause of adult disability and adult mortality in North America is stroke, according to data released by the National Stroke Association.
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Growth Factors:
Increasing number of patients at risk of increasing stroke across the globe is major factor driving growth of the global stroke diagnostics and therapeutic market. Increasing prevalence of high blood pressure among the population across the globe which is a key risk factor fuelling patients developing stroke at risk. For instance, according to the data published by American Heart Association in 2018, 103 million U.S. adults have high blood pressure and are increasing at major rate. Geriatric population is increasing now days in developed as well as emerging economies which are major factor of generating developing stroke at risk among individuals. Additionally, some of the major factors increasing risk of stroke are smoking, diabetes, high cholesterol, physical inactivity and obesity, carotid or other artery disease. These factors are creating huge demand for the stroke diagnostics and therapeutic in turn which is driving growth of the global market. Increased healthcare expenditure is another factor anticipated to boost growth of the global market in the near future. Developed economies across the globe such as U.S., Canada, Germany, and U.K. are spending huge amount of money on healthcare each year. This is owing to increasing awareness among the individuals across the globe regarding better health outcomes, coupled with increasing per capita income tend to have a higher level of health expenditures per capita worldwide. Furthermore, health deteriorates and health-care spending is increasing owing to growing old age population across the globe which is in turn tends to support growth of the global stroke diagnostics and therapeutic market. Moreover, the private and public payer spending has also increased. The United States has a healthcare system that consists primarily of private providers and private insurers, but since healthcare has become a greater part of the economy, the government has received a higher share of healthcare funding. All these factors are supporting growth of the global market in the near future.
Report Highlights:
- On the basis of type, diagnostics segment is estimated hold largest revenue share in the forecast period of time 2021-2030. Additionally, the therapeutics type is projected to fuel growth of the global industry in the near future.
- On the basis of application, ischemic stroke segment accounted for the largest revenue with weighty share in 2020 as ischemic stroke is the most usual type of stroke which is caused by a blood clot that blocks a blood vessel in the brain. Hemorrhagic segment is predictable to grow at moderate CAGR during the forecast time-frame.
- Medtronic plc. Foremost player in the global industry estimated for the remarkable share of the global market. The growth is accredited to various commercial strategies adopted by the company.
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Regional Analysis:
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. In 2020, North America dominated the global market with a market share of more than 30%. The growth of the North American region is owing to increased number of stroke patient in the United States and Canada of the region. Further, rapidly increasing old age population in the North American countries is becoming major factor for the growth of the target industry in the region. Europe is another important region holding significant share owing to favorable government policies, increasing geriatric population in the countries of Europe. Moreover, increasing patient awareness and increasing health care expenditure are expected to propel growth of the target industry in the countries of Asia Pacific especially in the China, Japan, and India of the region.
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Key Market Players and Strategies:
The key companies functioning in the worldwide stroke diagnostic and therapeutic are Neural Analytics, Cordis Corporation, Cerebrotech Medical Systems, Inc. Koninklijke Philips N.V. Medtronic plc. Boston Scientific Corporation, GE Healthcare, Medfield Diagnostics, Samsung Neurologica, NIRX, Gowerlabs, Siemens AG, Genentech Inc. Merck & Co., Inc. Hyperfine MRI, Stryker Corporation, Abbott Laboratories among others. Investment in the research and development of the stroke diagnostic and therapeutic along with planned collaborations are the essential professional approaches accepted by the key players operating in the stroke diagnostic and therapeutic market.
Market Segmentation
By Type
- Diagnostics
- Magnetic Resonance Imaging (MRI)
- Computed Tomography Scan (CT scan)
- Electrocardiography
- Carotid Ultrasound
- Cerebral Angiography
- Others
- Therapeutics
- Tissue Plasminogen Activator
- Antiplatelet
- Antihypertensive
- Anticoagulant
By Application
- Haemorrhagic Stroke
- Ischemic Stroke
By Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- United Kingdom
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
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