Selbyville, Delaware, Sept. 15, 2021 (GLOBE NEWSWIRE) --
According to latest report “Stroke management Market by Type (Ischemic, Hemorrhagic, Transient Ischemic Attack {TIA}), Product (Diagnostic Devices, Therapeutic Devices), End-use (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of stroke management will cross $48.5 billion by 2027. High disease prevalence contributing to the demand for interventional treatments will boost the market growth.
Technological advancements have led to launch of advanced and efficient products for stroke management. Companies operating in the industry are focusing on reducing procedural complications and offer ease in complex operations with their products. For instance, Cerenovus announced the launch of Cerenovus Nimbus in Europe. The device is designed with two different design features for maximization of tough clot removal including a proximal spiral section and distal barrel section. Such developments will foster the product adoption rate and will accelerate the demand. Moreover, healthcare providers are also collaborating and partnering with industry leaders to advance their stroke management capabilities. Recently, Apollo Hospitals and Medtronic partnered to integrate AI platform in stroke management that will reduce the diagnosis period.
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Growing disease burden of cardiovascular diseases (CVD) across the globe will significantly influence the stroke management market progression. Rising prevalence of heart diseases including coronary artery disease increases the possibilities of plaque formation in arteries that blocks the flow of oxygen-rich blood to the brain. Such conditions increase the risk of stroke and related mortalities. Additionally, causative factors contributing to CVD such as high blood pressure and blood glucose levels are considered as potential causes for stroke. Further, geriatric population prone to cardiovascular diseases will drive the product demand in the coming years.
Transient ischemic attack (TIA) segment in the stroke management market accounted for USD 700 million in 2020. Transient ischemic attack (TIA) is ministroke caused attributed to temporary disruption in the blood supply to part of the brain. Increasing geriatric population globally is one of the major factors stimulating the industry growth. Geriatric population is more susceptible to transient ischemic attack and requires effective medical care to maintain health condition.
The stroke management market for diagnostic devices segment will witness 5.9% growth rate through 2027. Growing advancement in diagnostics techniques such as visualization software, open MRI, and others. This advancement simplifies imaging workflow and faster scanning. For instance, In September 2016, GE Healthcare’s received U.S. FDA approval for its MAGiC (MAGnetic resonance image Compilation) software that is used for diagnosis and management of acute ischemic stroke.
Diagnostic centers segment is estimated to attain a CAGR of 6.3% till 2027. Growing preference of patients suffering from several cardiovascular diseases towards diagnostics centers due to presence of medical professional and facilities. Adding to this, growing demand for stroke management devices in hemorrhage, ischemia and emergency cases will propel the segment growth.
Asia Pacific stroke management market is poised to expand at over 6.6% CAGR by 2027 owing to the increasing prevalence of acute ischemic stroke coupled with rising demand for minimally invasive procedures. According to the OECD, ischemic stroke was one of the major causes of death in APAC in 2016, accounting for 25.2% of all deaths in the Western Pacific and 34.8% of deaths in Southeast Asia region. Adding to this, growing prevalence of cardiovascular diseases along with several initiatives undertaken by government in development of healthcare facilities will further contribute to the regional growth.
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Major players operating in the stroke management market include Abbott, Asahi Intecc CO., LTD, Braun Melsungen AG, Boston Scientific Corporation, GE Healthcare, Integer Holdings Corporation, Johnson & Johnson and Medtronic among others. Industry leaders are implementing various strategies such as new product launches and acquisitions & mergers to gain competitive advantage for business expansion. The providers are constantly adopting new techniques to offer advanced devices.
Table of Contents (ToC) of the report:
Chapter 3 Stroke management Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By type
3.4.2 By product
3.4.3 By end-use
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
