Stroke Diagnostics and Therapeutics Market Size, Global Industry Report 2028

Stroke Diagnostics and Therapeutics Market: Industry Perspective

The global stroke diagnostics and therapeutics market size was worth around USD 28.11 billion in 2021 and is predicted to grow to around USD 50.12 billion by 2028 with a compound annual growth rate (CAGR) of roughly 7% between 2022 and 2028.

The report analyzes the global stroke diagnostics and therapeutics market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the stroke diagnostics and therapeutics industry.

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Stroke Diagnostics and Therapeutics Market: Overview

A stroke is the medical emergency condition, seen mostly in elderly age patients. Strokes happen when blood flow to brain stops and brain cells begin to die. There are two kinds of stroke which include ischemic stroke and hemorrhagic stroke. Ischemic stroke is the most common type of stroke and is caused by a blood clot that blocks a blood vessel in the brain. The other stroke is called hemorrhagic stroke and is caused by a blood vessel that breaks and bleeds into the brain.

Attack on brain is referred as stroke and it is caused due to reduction of blood supply to brain. This has resulted in brain not getting appropriate proportion of oxygen causing brain cells to die. Increase in people prone to stokes will steer expansion of stroke diagnostics and therapeutics industry. There are three kinds of stroke including ischemic, transient ischemic attacks, and hemorrhagic. In first kind, i.e. ischemic stroke, flow of blood to brain is reduced in arteries owing to narrowed & blocked blood vessels. Hemorrhagic stroke is due to brain arteries leaking or bursting.

However, transient ischemic attacks interrupt temporary blood flow to brain for shorter period. Diagnosis of stroke includes MRI scanning, ultrasound, CT scan, echocardiogram, and cerebral angiogram. The treatment or therapeutics part include intake of aspirin, anticoagulants, and antiplatelets.

COVID-19 Impact Analysis

Apart from impacting human health, treating of patients having COVID-19 has also financial impact. Changing customer preferences towards healthcare solutions during COVID-19 pandemic has majorly impacted stroke diagnostics and therapeutics market. While direct impact of COVID-19 has been substantial, additional layers of indirect impact of pandemic possess potential for dwarfing immediate effects.

This indirect effect of COVID-19 has resulted in increment of healthcare costs worth billions of dollars. For the record, COVID-19 had incurred costs about nearly USD 126 billion to USD 200 billion on U.S. healthcare systems in 2019-2020.  

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Stroke Diagnostics and Therapeutics Market: Dynamics

• Drivers: Rise in health awareness and surge in cases of diabetes will boost expansion of stroke diagnostics and therapeutics market. A massive increment in tobacco consumers and a huge rise in aging populace prone to stokes will steer market growth.
• Restraints: Huge diagnosis & treatment costs and improper compensation policies can hinder growth of stroke diagnostics and therapeutics market.
• Opportunities: Technological breakthroughs in diagnosis & therapeutics sector have resulted in effective treatment of stroke, thereby creating new growth avenues for stroke diagnostics and therapeutics market.
• Challenges: Lockdown has resulted in shutdown of units manufacturing diagnostic equipment, thereby impacting import & export of this equipment across globe. This has posed a big challenge to growth of stroke diagnostics and therapeutics market.

Stroke Diagnostics and Therapeutics Market: Segmentation

The global stroke diagnostics and therapeutics market is segmented based on diagnostics, therapeutics, application, and region.

Based on diagnostics, the global stroke diagnostics and therapeutics market is segmented into five types: magnetic resonance imaging, computed tomography scan, electrocardiography, carotid ultrasound, cerebral angiography and others.  Magnetic resonance imaging dominates the diagnostic segment of stroke diagnostics and therapeutics market in 2019. Magnetic resonance imaging of the brain is a safe and painless test that uses a magnetic field and radio waves to produce detailed images of the brain and the brain stem.

Based on therapeutics, the global stroke diagnostics and therapeutics market is segmented into four types: tissue plasminogen activator, antiplatelet, antihypertensive, and anticoagulant. Anticoagulant is an immediate treatment given in the emergency room to reduce the likelihood of having another stroke. Anticoagulant prevents blood clots from forming. Injection of tissue plasminogen activator also called alteplase are given to stroke patients. An injection of TPA is usually given through a vein in the arm. This potent clot-busting drug needs to be given within 4.5 hours after stroke symptoms begin.

Based on application, the global stroke diagnostics and therapeutics market is segmented into two types: haemorrhagic stroke and ischemic stroke. Ischemic stroke dominated the application segment of stroke diagnostics and therapeutics market. Ischemic stroke is the most usual type of stroke which is caused by a blood clot that blocks a blood vessel in the brain. The most common cause problem is narrowing of the arteries in the neck or head. This is most often caused by atherosclerosis, or gradual cholesterol deposition in blood vessels.

Stroke Diagnostics and Therapeutics Market: Report Scope

Stroke Diagnostics and Therapeutics Market: Regional Analysis

North America To Account Majorly Towards Regional Market Size By 2028

Based on geographies, the global stroke diagnostics and therapeutics market is segmented into five types: North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa. These segments are further bifurcated into the U.S., UK, Germany, France, China, Japan, India, and Brazil.

North America held the largest share in the global stroke diagnostics and therapeutics market followed by Europe and Asia-Pacific. This growth of North America was attributed due to high literacy rate and more awareness regarding controlling the symptoms of strokes which include high blood pressure and high blood glucose level. In addition, this region also associated with advance research related to blood monitoring device. Growth of regional market over forecast timespan is subject to rise in frequency of chronic disorders such as diabetes in countries such as the U.S. Apart from this, massive use of stroke diagnostic devices and easy access to upgraded healthcare amenities in region will steer regional market expansion.

In addition to this, Asia Pacific Market is predicted to register highest CAGR in next six years. The regional market surge can be attributed to availability of improved healthcare facilities, increase in number of ambulatory surgical centers, rise in number of hospitals equipped with new equipment, and new medical reforms. Breakthroughs in stroke management sector will accentuate regional market size. Countries such as Japan and China are likely to be major regional revenue contributors.

Stroke Diagnostics and Therapeutics Market: Competitive Analysis

The global stroke diagnostics and therapeutics market is dominated by players like:

• Siemens AG
• Abbott Laboratories
• Genentech, Inc.
• Stryker Corporation
• Medtronic plc
• Boston Scientific Corporation
• Cordis Corporation
• Koninklijke Philips N.V.
• GE Healthcare
• Merck & Co., Inc.

The global stroke diagnostics and therapeutics market is segmented as follows;

By Diagnostics

• Magnetic Resonance Imaging
• Computed Tomography Scan
• Electrocardiography
• Carotid Ultrasound
• Cerebral Angiography
• Others

By Therapeutics

• Tissue Plasminogen Activator
• Antiplatelet
• Antihypertensive
• Anticoagulant

By Application

• Ischemic Stroke
• Hemorrhagic Stroke

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa