As per our analysis report, the global acute ischemic stroke treatment & diagnosis market size is projected to be growing at a CAGR of 6.7% from 2023 to 2028. The size of the market is predicted to value USD 3467 million by 2028 from USD 2507 million in 2023.
Acute Ischemic stroke can be defined as a loss of function in certain parts of the brain due to a lack of blood supply to the brain.
MARKET DRIVERS:
The increasing prevalence of acute ischemic stroke drives the global acute ischemic stroke treatment & diagnosis market growth for diagnostic and surgical procedures to treat this disorder.
Less blood supply causes Ischemic acute stroke in the brain due to emboli, thrombus, or atherosclerosis taking place in cerebral arteries. World Health Organization (WHO) estimated that around 18 million people die every year due to heart disease. Heart attacks and minor strokes, respectively, account for the highest number of deaths globally. 87% of all strokes are ischemic strokes, the statistics made by the Centre for Disease Control. Also, the Prevention of Stroke is one of the primary causes of long-term disability, occurring at a higher rate in the old age population. Around $34 billion is costing carried out by this disease. Moreover, stroke leads to 1 out of every 20 deaths. Higher rates of death associated with strokes emphasize an impending need for innovative drugs and diagnostic devices. There are two significant factors behind increasing the market's growth, such as the large patient count and the rising population at a higher rate of developing strokes in the future. Raising tobacco consumption and the incidents of diabetes in the increasing population are the essential factors that determine market growth. The National Institutes of Health has declared funding for the Stroke Preclinical Assessment Network (SPAN) to ensure that new individual treatments for acute ischemic stroke are systematically and successfully tested in rodents. The National Institutes of Health ask researchers to make the standards and practices applied in primary preclinical studies similar to those in clinical trials. The aim is to improve clinical trial results, as many drugs do not meet individual human trials.
Additionally, the market is growing due to the increasing number of surgical procedures in treating strokes due to increasing cerebral ischemia cases. The rising healthcare spending, the advanced technology used in surgeries, and the growing requirement for minimally persistent procedures are the critical factors for driving the global acute ischemic stroke diagnosis and treatment market.
Furthermore, technical advances in surgery, aging, increased need for minimally invasive surgery, and rising medical costs are other key factors driving the acute ischemic stroke diagnosis and treatment market growth. The growing elderly population in both the developed and developing regions is one of the major market drivers, as older people are more vulnerable to stroke than younger demographics.
MARKET RESTRAINTS:
A significant challenge to developing the g global acute ischemic stroke treatment & diagnosis market is the long-term testing of drugs after the onset of stroke and clinical trials involving the poor selection of patients for examination. Drug overuse and the high cost of surgery are likely to hinder the expansion of the global market. The lack of proper awareness in some developing nations of the world is a deterrent to market growth.
Impact of COVID-19 on the global acute ischemic stroke diagnosis & treatment market:
The sudden outburst of the novel coronavirus (COVID-19) has become a significant concern to the medical sector. COVID-19 has created a negative impact on ischemic stroke but not the stroke thrombectomy rate. Stroke mainly occurs in older people who are aged more than 60 years. Patients who tested COVID-19 upbeat showed various neurological disorders, where ischemic stroke is common. Acute Ischemic Stroke is a life-risk hurdle of COVID-19 infection. The treatment for ischemic stroke comprises different procedures of antiplatelet, coagulation, and thrombolytic therapies. Hospitalized patients can have neurological symptoms. Acute ischemic stroke is comparatively low, and the death concerned with it is considerably high. People diagnosed with acute ischemic stroke (AIS) have difficulty with coronavirus (COVID-19) infection. AIS is one of the developing neuro complications of COVID-19. AIS is one of the most complicated neurological conditions in COVID patients. The result of ischemic stroke in COVID patients considers disease criticality. The National Institute of Health Stroke Score (NIHSS) is used to forecast stroke results.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2022 to 2028 |
Base Year |
2022 |
Forecast Period |
2023 to 2028 |
Segments Covered |
By Diagnostic Type, Surgery Type, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
Regions Covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
This research report on the global acute ischemic stroke treatment & diagnosis market has been segmented and sub-segmented based on the diagnostic type, surgery type, and region.
Acute Ischemic Stroke Treatment & Diagnosis Market - By Diagnostic Type:
Based on the diagnostic type, computed tomography uses X Rays to diagnose the blood vessel's blockage going to the brain and is expected to grow with a reasonable growth rate in the future. The CT scan had the largest market share in 2019. The main factor responsible for the growth of this segment is the development in the technology of CT scans, which has made the process easier and more efficient. The increased research and development in this field will further boost the market.
Diagnosis using Magnetic Resonance Imaging is expected to increase during the forecast period. MRI had the second-largest market share in 2022. Magnetic Resonance Imaging uses magnetic waves and magnetic gradients to procure images of body organs. The main advantage of using this type of diagnosis technique is that it gives clear images and is a painless procedure due to X-rays being avoided.
Diagnosis through ultrasound had the third-largest market share in 2022 and is projected to grow at a healthy rate. The increase in the prevalence of chronic diseases and the rise in the geriatric population around the region are major factors responsible for this segment's growth.
Acute Ischemic Stroke Treatment & Diagnosis Market - By Surgery Type:
Based on surgery type, the carotid endarterectomy held most of the shares in the market and is expected to maintain its healthy share due to the high success rate, short treatment duration, and easy availability.
Carotid Endarterectomy had the largest market share in 2022 and is expected to grow at a healthy rate during the forecast period. The main factor responsible for high growth is the high success rate of this process. Also, this surgery type is readily available and thus boosting the development of this segment.
Angioplasty is also expected to grow at a promising rate in the future. The rise in healthcare services quality and technological advancement has contributed to the growth rate. Angioplasty is a procedure to widen the arteries in which blood flow is being affected and is widely popular. It is also known as Balloon Angioplasty. The tube is used as a balloon at the end.
Endovascular Mechanical Thrombectomy is expected to grow at a decent rate in the future. The development of medical sciences and technology has helped in the adoption of this technique. This process is used to remove the blood clot using the image guidance technique. The arterial blockage is often caused by atrial fibrillation, a heart rhythm disorder.
Acute Ischemic Stroke Treatment & Diagnosis Market - By Region:
The largest global ischemic stroke diagnosis and treatment market is accounted for by North America due to updated surgical technology, favorable government initiatives, and growing demand for ischemic stroke products.
Europe holds the world’s second position in-largest acute ischemic stroke diagnosis and treatment market due to the increasing acute ischemic stroke in patients and the advancements in technology. More than 31 million people have diabetes in the European Union. 8.6% of the adult population has diabetes. Type Mellitus diabetes presence is specially developed in the countries of Europe, and also it is another driver of the market.
Asia-Pacific is estimated to be a hopeful market for acute ischemic stroke diagnosis owing to the increasing incidence of ischemic stroke cases in the region. Manufacturers are expanding their operations in the Asia-Pacific region as these regions hold immense potential for market growth. The Pacific region increases the incidence of strokes because it becomes the most promising ischemic stroke diagnosis and treatment market.
China and India are considered the growing markets in the coming years in the acute ischemic stroke diagnosis and treatment market. Asia Pacific region has enormous market growth potential, and the manufacturers are expanding into this region. The Middle East & Africa region expected faster growth and a growing emphasis on health research and development.
KEY MARKET PARTICIPANTS:
Some of the notable companies leading the global acute ischemic stroke treatment & diagnosis market profiled in the report are Abbott Laboratories, Covidien plc, Philips Healthcare, Johnson & Johnson, Penumbra, Inc., GE Healthcare, Siemens Healthcare, Stryker Corporation (Concentric Medical, Inc.), and Hitachi, Ltd.
New product launches and collaborations, and partnerships are a few of the prominent strategies adopted by key players in the global acute ischemic stroke diagnosis and treatment market.
Frequently Asked Questions
The glboal acute ischemic stroke treatment & diagnosis market is anticipated to be valued at USD 2507 million in 2023.
The increasing prevalence of stroke, the growing aging population, and advancements in medical technologies for stroke treatment and diagnosis are the key factors driving the growth of the acute ischemic stroke treatment & diagnosis market.
The high cost of stroke treatments, the lack of awareness about stroke symptoms and risk factors, and the shortage of skilled healthcare professionals are some of the challenges faced by the acute ischemic stroke treatment & diagnosis market.
Some of the key players in the acute ischemic stroke treatment & diagnosis market include Abbott Laboratories, Boston Scientific Corporation, Johnson & Johnson, Medtronic plc, and Siemens Healthineers AG.
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