New York, Oct. 18, 2022 (GLOBE NEWSWIRE) -- According to The Insight Partners latest market study on "Stroke Management Market Size, Share, Trends, Growth Strategy and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Application, and Geography," the global stroke management market size is expected to grow from USD 33.48 billion in 2021 to USD 55.37 billion by 2028; it is expected to grow at a CAGR of 7.5% from 2022 to 2028.
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Global Stroke Management Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 33.48 Billion in 2021 |
| Market Size Value by | USD 55.37 Billion by 2028 |
| Growth rate | CAGR of 7.5% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| No. of Pages | 150 |
| Historical data available | Yes |
| Segments covered | Type, and Application |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Global Stroke Management Market: Competitive Landscape
Abbott Laboratories, B Braun Melsungen AG, Boston Scientific Corporation, Bristol Myers Squibb Co., Cardinal Health Inc., General Electric Company, Glaxosmithkline Plc, Medtronic Plc, Merck and Co. Inc., and Siemens AG are among the leading market players profiled during the study. Several other major companies were analyzed during this study to get a holistic view of the stroke management market.
Impact of COVID-19 Pandemic on Stroke Management Market:
The COVID-19 pandemic resulted in the increased demand for stroke management drugs such as Alteplase, Clopidogrel, and Atorvastatin as the prevalence of stroke increased due to the spread of SARS-CoV-2. This led to a high volume of orders among drug manufacturers, resulting in a higher production volume. As a result, the product profit of various drug component manufacturers increased. Thus, the procurement of drug components grew during the initial phase of the pandemic, thereby boosting the growth of the global stroke management market.
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Growth in Incidences of Chronic Diseases Catalyzes Global Stroke Management Market:
The rising incidence of chronic diseases, including hypertension, hyperlipidemia, and diabetes; technological advancements in the diagnosis and treatment of stroke; continuous increase in the number of tobacco users; and rise in the geriatric population are boosting the stroke management market growth. However, slow drug approval and the huge cost associated with procedures involved in stroke treatment and diagnosis are hampering the market growth
Innovation in technology is one of the factors influencing the market growth. The increasing adoption of MicroTransponder Vivistim Paired VNS System (Vivistim System), which is the first FDA-approved drug-free treatment of stroke, holds growth potential in the stroke management market during the forecast period. Moreover, increasing awareness about stroke results in a sudden rise in the diagnostic rates of the disease, which ultimately increase the demand for stroke targeting drugs. The recombinant tissue plasmogen activators proved to be the most effective treatment for ischemic stroke and are currently prescribed as first-line treatment.
Hypertension is the leading risk factor for stroke as blood pressure higher than 140/90mmHg can damage the blood vessels that supply blood to the brain. Furthermore, diabetes is also a major cause of stroke. As per the American Stroke Association, people with diabetes have twice the chance of having a stroke and may also witness the early onset of stroke. Further, within every two minutes, an adult with diabetes is hospitalized due to stroke in US, as per the same data. As a result, the demand for stroke medications is increasing continuously, and it is expected to grow tremendously in the coming years.
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