Stroke is a restorative condition that happens when there is interference in the blood supply to the brain because of blockage of veins, which can prompt the death of cerebrum cells or a person. A stroke can also be understood as a brain attack because it can occur rapidly and needs treatment immediately. The prevalence of stroke in the geriatric population is high, and it is one of the major causes of death globally. Based on estimations of the World Health Organization, stroke results in 17 million deaths annually. As per the Centers for Disease Control and Prevention, strokes cause one out of every 20 deaths, fetching the cost of around US$ 34 Bn per year in the U.S.. Hence, early diagnosis and treatment management to prevent deaths from stroke are needed. Stroke management involves steps for stroke prevention, and it leads to reduction in risk of recurrent strokes in patients. Stroke management devices have shown to lower the risk of strokes.
Rise in incidence of chronic diseases drives the stroke management market. In addition, increase in ageing population, which is are more susceptible to strokes, and increase in cases of diabetes and tobacco consumption are likely to fuel the market during the forecast period. However, expensive treatment and strict government regulations required for the approval of new and advanced technological devices and drugs are predicted to hinder the market expansion in the near future. Increase in patient awareness about early detection, prevention, and treatment of heart attacks and strokes are also expected to boost the stroke management market globally.
The global stroke management market can be classified based on product, application, and region. Based product, the global stroke management market can be categorized into diagnostics and therapeutics products. The diagnostics segment currently constitutes a prominent market share and is expected to dominate the market during the forecast period owing to increase in awareness leading to increase in performance of CT and MRI scans for identification of the disease. The diagnostics segment can be further divided into magnetic resonance imaging (MRI), computed tomography scan (CT scan), cerebral angiography, electrocardiography, carotid ultrasound, echocardiography, and others. The therapeutics segment can be further classified into tissue plasminogen activator, anticoagulant, antiplatelet, and antihypertensive segments. In terms of application, the global stroke management market can be segmented into ischemic stroke and hemorrhagic stroke. The ischemic stroke segment accounts for a significant market share owing to the rise in number of ischemic stroke and trauma cases currently and during the forecasted period.
Based on region, the stroke management market can be segmented into North America, Europe, Asia, Latin America, and Rest of the World. North America and Europe accounted for a dominant share of the stroke management market, followed by Asia, Latin America, and Middle East & Africa. The U.S. dominated the stroke management market in North America, due to the factors such as technological advancements, extensive R&D, and rise in awareness about the treatment and management of chronic diseases. The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period. New product launches, favorable regulations, high number of patients suffering from chronic heart diseases and strokes, and rise in awareness are likely to drive the market in the region during the forecast period.
The key players operating in the stroke management market are B. Braun Melsungen AG, Abbott Laboratories, Boston Scientific Corp., Medtronic Plc., GE Healthcare, Glaxosmithkline Plc., Teleflex Inc., Cardinal Health, Merck Sharp & Dohme Corp., Bristol-Myers Squibb, Siemens Healthcare, and other prominent players.
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