Stroke Management Market Overview:
The Global Stroke Management Market accounted for accounted for $22,581 million in 2016, and is estimated to reach $36,756 million by 2023, growing at a CAGR of 7.1% during the analysis period (2017-2023). Stroke is a medical emergency that occurs when the blood flow to the brain is interrupted and brain cells start to die.
Rise in incidence and prevalence of chronic diseases drives the market. In addition, growth of geriatric population that is susceptible to stroke, and patient increase incidences of diabetes and tobacco usage are driving the market during the analysis period. However, high cost of treatment and stringent government regulations for the approval of new and advances devices and drugs is anticipated to restrict the market growth.
Based on type, the global stroke management market is categorized into diagnostics and therapeutics. Diagnostics held the highest market share and is expected to grow with the highest growth rate during the forecast period. Increase in adoption of diagnosis process such as CT scan, MRI and others for the on time diagnosis of stroke is driving the market. On the basis of application, ischemic stroke held the highest market share owing to increase in prevalence of ischemic stroke and trauma cases.
Global Stroke Management Market, By Type
Global Stroke Management Market, By Application
By geography, the global stroke management market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2016, followed by Europe. On the other hand, Asia is anticipated to be the fastest-growing regional segment during the analysis period. The key factors that drive the growth of this market include increase in pool of patient population, growth in prevalence of stroke and chronic diseases, and rise in government investments for the development of better healthcare facilities and R&D. Asia-Pacific is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improvements in healthcare infrastructure.
Global Stroke Management Market, By Geography
Increasing Patient Awareness
Awareness among patients about stroke management plays a vital role in the growth of market. Several educational and awareness programs are initiated by government and key players in the market to increase the awareness level for the treatment of stroke among patients, doctors, and healthcare providers. For instance, a public health action plan to prevent heart disease and stroke by CDC provides a comprehensive strategy to combat heart failures that requires prevention, detection, and treatment of heart attacks and strokes. Medtronic India has also taken certain initiatives to train doctors about new technologies for better clinical outcomes. Moreover, many other government organizations such as Heart Foundation, American Heart Association, and World Health Organization have initiated several activities to increase awareness regarding the prevention and treatment of strokes.
Apart from this, Medtronic (India) initiated a new awareness program named Healthy Heart for All (HHFA) in September 2010. The aim of this initiative was to provide innovative and advanced therapies of cardiac care to everyone. This ensured that technologically advanced devices are available for treatment and reduced the burden of unmet medical needs of patients in developing countries. In addition, the American Heart Association has collaborated with the American Academy of Family Physicians, The Heart Rhythm Society, and The International Society for Heart & Lung Transplantation to provide guidelines that help to improve the health of patients.
Large Pool of Geriatric Population
Geriatric population are particularly vulnerable to stroke and need medication to maintain their health conditions. According to the Journal of American Medical Association, more than 40% of older population (55 age and above) of America are susceptible to stroke.
Major companies operating in this market adopt product launch as their key development strategy. Abbott Laboratories, B Braun Melsungen AG, Boston Scientific Corp., Bristol-Myers Squibb, Medtronic Plc., Cardinal Health, GE Healthcare, Siemens Healthcare, Glaxosmithkline Plc., and Merck & Company.
Other prominent players in the value chain include Mizuho America Inc., Koninklijke Philips N.V., Genentech Inc., Stryker Corporation, ZOLL Medical Corporation, and others
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the stroke management market with current trends and future estimations to elucidate the imminent investment pockets
- The report provides a quantitative analysis from 2016 to 2023 to enable the stakeholders to capitalize on prevailing market opportunities
- Extensive analysis by product and application helps understand various trends and prevailing opportunities in the respective market
- Comprehensive analysis of all geographical regions is provided, which determines the main opportunities in these geographies
- Key market players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market
Stroke Management Market Key Market Segments
- Computed Tomography Scan (CT Scan)
- Magnetic Resonance Imaging (MRI)
- Carotid Ultrasound
- Cerebral Angiography
- Tissue Plasminogen Activator
- Ischemic Stroke
- Haemorrhagic Stroke
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA