Stroke Diagnostic and Therapeutic Market to Hit USD 65.45 BN by 2030

The global stroke diagnostic and therapeutic market size is predicted to hit around USD 65.45 billion by 2030 and is expanding growth at a CAGR of 8% over the forecast period 2022 to 2030.

The global stroke diagnostic and therapeutic market size was valued at USD 32.69 billion in 2021, according to new report study by Precedence Research.

Growth Factors

The global stroke diagnostic and therapeutic market is expected to grow at a promising rate during the forecast period, owing to the rising prevalence of stroke across the globe. The National Stroke Association states that stroke is the fifth-leading cause of death in the America and it is a major reason behind the disability among the adults. Furthermore, diabetes can cause stroke, as per the World Health Organization. Therefore, the surging prevalence of diabetes across the globe is increasing the risks of stroke across the globe. As per the International diabetes Federation, the global diabetic population is expected to reach at 783 billion by 2045. Hence, the demand for the stroke diagnostic and therapeutic is expected to growth significantly with the rising risks of stroke. Furthermore, the proliferation of digital technologies and the rising adoption of the advanced technologies in the healthcare sector is fueling the growth of the stroke diagnostic and therapeutic market.

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Report Scope

Report Highlights:

• Based on type, the diagnostic segment was the highest revenue generator in the global stroke diagnostic and therapeutic market in 2020. The diagnostic segment is further categorized into magnetic resonance imaging (MRI), CT scan, electrocardiography, cerebral angiography, carotid ultrasound, and others. The rising demand for the stroke diagnosis owing to the growing risks of stroke due to various factors has propelled the growth of this segment. The increased awareness regarding the benefits of early diagnosis is further expected to drive the market growth.

• On the basis of application, ischemic stroke segment accounted for over 80% of the market share in 2020. This is attributed to the higher prevalence of ischemic stroke across the globe. Ischemic stroke is the most common stroke cause by the blood clot, which blocks the blood vessels in the brain.

• North America dominated the global stroke diagnostic and therapeutic market in 2020. North America is characterized by the increased prevalence of strokes. The increased healthcare expenditure and the presence of advanced healthcare infrastructure in the region is supporting the growth of the stroke diagnostic and therapeutic market. Furthermore, the increasing awareness among the population regarding the benefits of early diagnosis and the presence of key manufacturers along with the favorable government policies regarding the healthcare diagnostics and therapeutics are the major factors that has driven the growth of the North America stroke diagnostic and therapeutic market.

• Asia Pacific is anticipated to grow at the highest growth rate during the forecast period. The surging awareness regarding stroke and growing health consciousness among the population is fueling the demand for the stroke diagnostic and therapeutic market. The rising healthcare expenditure and improved access to the advanced diagnostics and therapeutics has favored the growth of the Asia Pacific stroke diagnostic and therapeutic market. The surging cases of diabetes, which is a major cause of stroke is expected to fuel the demand for the stroke diagnostic and therapeutic in the region.

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Future of Stroke Diagnostic and Therapeutic Market

The technological advancements in the diagnosis and therapeutics, growing pool of patients, surging geriatric population, and rising prevalence of diabetes are the major factors that will propel the market growth in the forthcoming future. The rising investments in the research & development by the key market players to develop new and innovative therapies and diagnosis is expected to offer lucrative growth opportunities in the upcoming future.

COVID-19 Impact Analysis:

• The COVID-19 outbreak in 2020has resulted in the increased demand for the stroke diagnosis and therapeutic. The stroke patients were at high risks of getting blood clot owing to the COVID-19 disease.
• The COVID-19 resulted in the less number of hospital visits, which fueled the adoption of the telehealth and mHealth platforms.
• The adoption of the digital technologies in the healthcare sector was significantly boosted by the rapid spread of the COVID-19 disease.

Key Developments in the Marketplace:

• In September 2020, Johnson & Johnson introduced Cerenovus Stroke Solutions that helped the physicians in the clot removal procedures.
• In April 2019, Medtronic introduced Solitaire X that assisted in the treatment of ischemic stroke. This new product launch was aimed at expending the product portfolio.
• In January 2019, Medtronic, Ghent University, Imec and CARDIS collaborated to develop a prototype of a medical device that assisted in the screening of arterial stiffness.

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