February 03, 2020
According to a recent study titled ‘Stroke Management Market Size By Type (Ischemic, Hemorrhagic, Transient Ischemic Attack [TIA]), By Diagnostics (Magnetic Resonance Imaging [MRI], Computed Tomography Scan [CT Scan], Electrocardiography, Carotid Ultrasound, Cerebral Angiography), By Therapeutic Devices (Stent Retriever, Surgical Clipping, Embolic Coils, Flow Diverters, Aspiration Catheters), By End-use (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, Japan, China, India, Australia, Malaysia, Thailand, Indonesia, South Korea, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, Qatar, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’ available with Market Study Report LLC, the global stroke management market is anticipated to exceed USD 44.5 billion by the year 2025.
Surging prevalence of cardiac, chronic, and neurological diseases worldwide has fueled stroke management market growth. Increasing geriatric population, especially in countries like India and China, which is highly susceptible to strokes, has been adopting stroke management devices for effective diagnosis and treatment of cardiac diseases, which is in turn driving market growth.
Technological advancements in stroke management devices would play a pivotal role in improving stroke management market outlook. For instance, Medtronic plc developed SOLITAIRE X, a revascularization device equipped with exceptional overlapping stent retriever-based technology that retrieves blood clots from clogged blood vessels in the brain and restores blood flow in acute ischemic stroke patients.
The availability of such advanced devices would aid healthcare professionals to treat stroke related diseases effectively. However, stringent government regulations and high costs related to stroke management devices could hinder market growth in the forthcoming year.
Based on diagnostic methods, magnetic resonance imaging (MRI) is witnessing high demand across several end-user segments. MRI scans provide pivotal information about the risk of developing stroke with minimum exposure to harmful radiation. Easy-to-use structure, better image quality, and built-in advanced features are some of the factors that are aiding MRI’s prominence in stroke diagnosis.
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The stroke management market is essentially gaining traction across numerous end-user segments of late. The advent of technologically advanced medical devices and the presence of skilled healthcare professionals in hospital settings may spur hospitals segment growth. On this note, studies suggest that the hospitals segment is expected to record 6.5% CAGR over the forecast timeframe.
On the regional front, North America is expected to offer lucrative growth opportunities to the stroke management market. Surging prevalence of neurovascular and cardiovascular diseases may propel regional industry outlook. Moreover, a strong presence of major industry players in the region would further improve the revenues from North America.
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