PUBLISHER: The Business Research Company | PRODUCT CODE: 1414616
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414616
“Stroke Management Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on stroke management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for stroke management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The stroke management market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Stroke management involves the treatment administered when a blood vessel in the brain bursts or when something obstructs the blood flow to a specific area of the brain, resulting in the brain aging or sustaining damage.
The primary product categories within stroke management include diagnostics, drug therapy products, and interventional stroke management systems. Diagnostics pertain to procedures aimed at identifying a disease, ailment, or injury based on its symptoms and indications. These diagnostic tools find applications in various scenarios such as ischemic stroke and hemorrhagic stroke. Additionally, they cater to diverse end-users, including hospitals, clinics, ambulatory surgery centers, diagnostic centers, retail pharmacies, online pharmacies, and others.
The stroke management market research report is one of a series of new reports from The Business Research Company that provides stroke management market statistics, including stroke management industry global market size, regional shares, competitors with a stroke management market share, detailed stroke management market segments, market trends and opportunities, and any further data you may need to thrive in the stroke management industry. This stroke management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The stroke management market size has grown strongly in recent years. It will grow from $36.94 billion in 2023 to $39.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The expansion in the historical period can be ascribed to thrombolytic therapies, initiatives for stroke prevention, rehabilitation techniques, the integration of telemedicine in stroke care, and the establishment of collaborative stroke networks.
The stroke management market size is expected to see strong growth in the next few years. It will grow to $52.89 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The expansion in the projected period can be credited to the emergence of neuroprotective therapies, the integration of artificial intelligence in stroke diagnosis, the adoption of personalized medicine approaches, the broadening access to acute care, and the standardization of global stroke care. Prominent trends anticipated in the forecast period encompass progress in medical imaging technology, the incorporation of telemedicine and remote monitoring, an emphasis on preventive care and risk factor management, innovations in neuroprotective therapies and drugs, as well as a focus on collaborative and multidisciplinary approaches.
The increasing prevalence of chronic diseases is anticipated to drive the growth of the stroke management market in the future. Chronic diseases, lasting for a year or longer and affecting daily activities, necessitate continuous medical care. Stroke management plays a crucial role in supporting patients with various chronic conditions such as cancer and cardiovascular diseases. It focuses on timely preventive care, patient education, and support, while also creating care delivery models that integrate primary and secondary care. As an illustration, a report from the National Library of Medicine in January 2023 indicates a projected increase in the number of individuals aged 50 and older with at least one chronic disease, reaching 142.66 million by 2050, compared to 71.522 million in 2020, marking a 99.5% rise. Hence, the rising incidence of chronic diseases is a key driver for the growth of the stroke management market.
The increasing elderly population is expected to contribute to the growth of the stroke management market in the future. The geriatric population, typically defined as individuals aged 65 and older, undergoes various biological, sociological, and psychological changes associated with the aging process. For example, according to the World Health Organization's October 2022 report, one in six people globally will be 60 years or older by 2030, totaling 1.4 billion individuals, up from 1 billion in 2020. The global population aged 60 and older is projected to double to 2.1 billion by 2050. Additionally, the number of people aged 80 or older is expected to increase by 426 million between 2020 and 2050. Therefore, the expanding geriatric population is a significant driver for the growth of the stroke management market.
Technological advancements are a prominent trend gaining traction in the stroke management market. Companies within the sector are embracing innovative technologies to maintain their competitive positions. An illustrative example is Qure.ai, an India-based artificial intelligence solutions company, which launched an AI stroke management platform in November 2021. The platform, powered by the qER AI imaging solution, is a triage and notification tool approved by the US FDA under 510(k). It can identify and quantify abnormalities on head CT scans related to emergency stroke cases, facilitating remote diagnosis. The companion mobile app allows stroke stakeholders, including neurologists and radiologists, to examine clinical and imaging data, create PDF reports, view DICOM files, and share information.
Major players in the stroke management market are directing their efforts towards introducing innovative products, such as a portfolio of Ischemic stroke solutions, to gain a competitive advantage. An example is MicroVention Inc., a US-based neuroendovascular medical device company, which launched the Eric retrieval device for treating ischemic stroke in the US in June 2023. Eric, a self-expanding laser-cut clot retriever, features multiple retrieval cages on a pusher wire delivery system. MicroVention emphasizes the device's atraumatic design, following natural vessel guidelines to provide mild outward radial force, minimal vessel wall contact, and remarkable flexibility.
In December 2022, Johnson & Johnson, a US-based pharmaceutical industry company, acquired Abiomed, Inc. This strategic move aimed to expand Johnson & Johnson's MedTech business growth, delivering cutting-edge medical innovations globally. Abiomed Inc., a US-based medical device technology company, specializes in developing and manufacturing stroke management devices, including heart pumps.
Major companies operating in the stroke management market report are GE HealthCare Technologies Inc., Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, B Braun Melsungen AG, Bristol Myers Squibb Co., Cardinal Health Inc., Glaxosmithkline Plc, Siemens AG, Merck And Co. Inc., Asahi Intech Co. Ltd., Johnson & Johnson, Penumbra Inc., Teleflex Inc., Stryker Corporation, Biogen Inc., Bayer AG, Philips Healthcare, AstraZeneca Plc., F. Hoffmann-la Roche, Novartis AG, Takeda Pharmaceutical Company Ltd., Sanofi SA, Daiichi Sankyo Company Limited, Boehringer Ingelheim International GmbH, Pfizer Inc., Integer Holdings Corporation
North America was the largest region in the stroke management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global stroke management market report during the forecast period. The regions covered in the stroke management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the stroke management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The stroke management market includes revenues earned by entities by providing hyperacute care, acute care, rehabilitation, control of bleeding, and basic life support. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.