Stroke Diagnostics and Therapeutics Market Size, Share, Growth Report 2032

Stroke Diagnostics and Therapeutics Market Size

The global Stroke Diagnostics and Therapeutics Market accrued earnings worth approximately 28.11 (USD Billion) in 2021 and is predicted to gain revenue of about 50.12 (USD Billion) by 2028, is set to record a CAGR of nearly 7% over the period from 2022 to 2028. The study provides an assessment and analysis of the Stroke Diagnostics and Therapeutics Market on a global & regional level. It offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2021 along with a forecast from 2022 to 2028 based on revenue (USD Billion).

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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.

Stroke Diagnostics and Therapeutics Market: Overview

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 of Stroke Diagnostics and Therapeutics Market

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: Growth Factors

Globally, stroke diagnostics and therapeutics market have been accelerated by the large patient pool. Moreover, increasing the percentage of the geriatric population in western countries especially in Europe is the key driving factor for fueling the growth of stroke diagnostics and therapeutics market. Furthermore, hypertension, atrial fibrillation and coronary heart diseases are the supporting factors which promote the growth of stroke diagnostics and therapeutics market. However, the high cost of treatment directly affects the growth of stroke diagnostics and therapeutics market. Nonetheless, ongoing research and development in the healthcare sector technologies are expected to open growth avenues for the stroke diagnostics and therapeutics market over the years.

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

Based on segment, stroke diagnostics and therapeutics market is segregated into diagnostics and therapeutics. Application Wise, the market is divided into ischemic stroke and hemorrhage stroke.

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.

Diagnostics Segment To Contribute Majorly Towards Market Size Over 2022-2028

Segmental dominance over next six years can be attributed to product innovation in stroke management equipment along with rise in cases of chronic disorders such as diabetes and heart disorders.

Ischemic Stroke Segment To Dominate Application Landscape By 2028

Surge in health consciousness among global population and rise in diabetics as well as tobacco consumers will drive segmental growth. Inflation in geriatric population susceptible to suffer form chronic disorders will drive market trends.

Stroke Diagnostics and Therapeutics Market: Regional Insights

North America To Account Majorly Towards Regional Market Size By 2028

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. Presence of qualified healthcare service providers in sub-continent will embellish expansion of stroke diagnostics and therapeutics market in North America.

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.

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. The stroke diagnostics and therapeutics market are expected to witness the highest growth in Asia-Pacific region in upcoming years due government initiatives, awareness, increasing demand of anticoagulant drug and excessive increase of health care.

Key Industry Participants

Major players have dominated growth of stroke diagnostics and therapeutics market and will continue to do so even in foreseeable future. We have profiled them in our report and they are Siemens AG, Abbott Laboratories, Genentech, Inc., Stryker Corporation, Medtronic plc, Boston Scientific Corporation, Cordis Corporation, Koninklijke Philips N.V., GE Healthcare, and Merck & Co., Inc.

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

By Type

• Diagnostics
• Therapeutics

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