Stroke Management Market Expected to Reach $74 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Stroke Management Market," The stroke management market was valued at $36.1 billion in 2022, and is estimated to reach $74 billion by 2032, growing at a CAGR of 7.4% from 2022 to 2032.

Stroke is caused by insufficient supply of blood to the brain, either due to the blockage of the blood supply or a blood vessel within the brain. Such blood insufficiency causes the brain tissue to die, owing to lack of enough oxygen for the functioning of the brain, eventually resulting into stroke. Stroke is a medical emergency that requires urgent diagnosis and treatment to minimize brain damage. According to the World Stroke Organization 2022, stroke is the second leading cause of death globally. Ischemic stroke, hemorrhagic stroke, and transient ischemic stroke are the three main types of strokes. The stroke management involves preventive measures, acute care, and rehabilitation. 

The Stroke Management Market Trends that drive the growth of global stroke management market include surge in geriatric population, technological advancement for the diagnosis and treatment of stroke, and increase in healthcare awareness. As the geriatric population is rising the incidences of stroke and its associated conditions such as cardiovascular diseases and hypertension are also increasing.  

This has created a growing demand for stroke management solutions. For instance, according to Medical University of South Carolina (MUSC), about 75% of stroke occur in people aged 65 and above. In addition, according to Population Reference Bureau (PRB), 2023, the Asia and Europe region has the world’s oldest population and Japan is at the top with 28% of aged individuals. Thus, surge in geriatric population drives the growth of Stroke Management Market Size. 

Furthermore, increase in tobacco consumption, sedentary lifestyle, and high stress levels are the major causes of stroke. For instance, according to the World Stroke Organization (WSO), more than half of all strokes are associated with hypertension. In addition, according to Centers for Disease Control and Prevention (CDC), 2023, the passive smoking of tobacco increases the risk for stroke by 20-30%. Thus, increase in the stroke incidences, demand for effective stroke management, which in turn, boosts the growth of Stroke Management Market Size.  

Moreover, development of technologically advanced stroke diagnostic solutions, increase in patient awareness, and increase in collaborations between Stroke Management Industry key players to expand their business further propel the market growth. For instance, in April 2023, Medtronic, a global medical technology company, partnered with Qure.ai, an artificial intelligence-based company. This partnership aims to integrate Qure's AI-powered solutions in primary stroke centers. 

However, the high cost of stroke treatment restrains market growth. The cost of diagnosis, hospitalization and rehabilitation, raise the overall cost of stroke management. These high costs can limit the access to quality care and negatively impacts the Stroke Management Industry growth. Further, shortage of skilled neurologist and stroke specialist also limit the market growth. 

On the basis of technology, the market is classified into diagnostics, therapeutics, and software. The diagnostics segment dominated the market in 2022, owing to advancement in the diagnostic technologies such as MRI and angiography, and increase in awareness about importance of early stroke diagnosis. On the other hand, the software segment is expected to register fastest growth during the Stroke Management Market Forecast period, owing to increase in adoption of telehealth software, integration of software with diagnostic systems, and rapid advancements in the artificial intelligence.  

Depending on application, the market is bifurcated into ischemic stroke and hemorrhagic stroke. The ischemic stroke segment dominated the global Stroke Management Market Share in 2022. This is attributed to increase in the prevalence rate of ischemic stroke, which led to a surge in adoption of stroke management solutions. Further, advancement in the treatment of acute ischemic stroke also drives the segment growth. However, the hemorrhagic stroke segment is expected to grow at a fastest rate during the Stroke Management Market Analysis period. This is attributed to increase in the cases of intracerebral hemorrhage. For instance, according to World Stroke Organization (WSO), 2022, more than 3.4 million new intracerebral hemorrhages cases will be diagnosed each year. 

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. North America region had the highest Stroke Management Market Share in 2022, and is expected to maintain its lead during the forecast period owing to increase in incidence of stroke, presence of various major stroke organizations, availability of well-developed healthcare infrastructure, and strong presence of market key players. However, Asia-Pacific is expected to exhibit the fastest growth during the forecast period, owing to increase in prevalence of various cardiovascular diseases, surge in geriatric population, development of medical technology industry, adoption of telemedicine, and surge in acceptance of newly developed healthcare technologies.  

Key Findings of the Study 

• By technology, diagnostics segment dominated the market in 2022. 

• On the basis of application, ischemic stroke segment dominated the market in 2022. 

• By region, the North America segment dominated the market in 2022. However, Asia-Pacific is the fastest growing segment during the forecast period with CAGR of 8.8%