Press release
Global Stroke Diagnostic And Therapeutic Market Projected to Surpass $50.37 Billion by 2029 with 8.5% Annual Growth
Stroke Diagnostic And Therapeutic
The upward trend in stroke cases is predicted to spur the progression of the stroke diagnostic and therapeutic market. Stroke denotes a medical crisis that happens when the blood supply to a part of the brain is halted or lessened, thereby stripping the brain tissue of oxygen and nutrients, a situation that could lead to brain cell harm or death. Hypertension heightens stroke risk by harming blood vessels, predisposing them to rupture or blockage. The efficiency of stroke diagnostic methods and treatments greatly impacts patient results, as rapid diagnosis and immediate treatment can considerably mitigate brain damage, disability, and death. For example, a report by the American Heart Association, a nonprofit organization in the US, indicated that in January 2024, stroke was accountable for 7.44 million deaths worldwide, including 3.71 million from ischemic stroke, 3.38 million from intracerebral hemorrhage, and 0.36 million from subarachnoid hemorrhage in 2021. Further, in January 2023 as per a report by the American Heart Association again, stroke caused 7.08 million deaths globally, comprising 3.48 million from ischemic stroke, 3.25 million from intracerebral hemorrhage, and 0.35 million from subarachnoid hemorrhage. For these reasons, the growing incidence of stroke is fueling the expansion of the stroke diagnostic and therapeutic market.
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What Is the projected market size and growth rate for the stroke diagnostic and therapeutic market?
The market for stroke diagnostics and therapy has seen robust growth in recent years. The market size, which stands at $33.41 billion in 2024, is projected to increase to $36.36 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.9%. Factors contributing to this trend in the historical period include increasing government support and initiatives, enhancements in healthcare service accessibility, swift urbanisation, improvements in healthcare facilities, and a sharp rise in the spread of telemedicine and tele-stroke services.
The market size for stroke diagnostics and treatments is anticipated to experience significant expansion in the coming years, reaching $50.37 billion in 2029 with a CAGR of 8.5%. The predicted growth during this projected period can be accredited to factors such as the spike in diabetes incidents, the escalating count of high blood pressure patients, and the augmenting number of individuals prone to strokes. Increasing awareness about stroke prevention, as well as the growing number and occurrence of stroke cases, also contributes to this growth. Noteworthy trends projected for the forecast period consist of the rising implementation of artificial intelligence and machine learning algorithms, the progress in powerful medical instruments, continual advancements in healthcare technology, improvements in fast and precise diagnostic tools, and advancements in telemedicine and tele-stroke services.
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What new trends are reshaping the stroke diagnostic and therapeutic market and its opportunities?
Leading businesses in the stroke diagnostic and therapeutic market are investing in the creation of novel AI-centered healthcare applications. These innovations aim to increase not only the precision but also the effectiveness of stroke detection and therapy. An AI-based healthcare system can access and interpret vast amounts of patient information, recognize patterns and provide useful insights. This works towards enhancing diagnostic precision, improving treatment efficiency, and offering personalized medical care. For example, RapidAI, a technology and AI company based in the US, unveiled Rapid Edge Cloud in November 2023. This platform brings together cloud and on-premise technologies to strengthen speed, security, and adaptability. It seamlessly integrates with existing hospital and third-party apps and has earned Class III Shonin approval in Japan, the globe's second-largest stroke market. Japan's first advanced stroke imaging platform known as Rapid, supports mechanical thrombectomy decision-making and offers exclusive MR-based perfusion features. Rapid's AI-backed non-contrast CT solutions like Rapid NCCT Stroke, Rapid ASPECTS, Rapid Hypodensity, Rapid Hyperdensity, and Rapid SDH are the sole solutions that can identify potential strokes during the primary CT scan. This crucial step significantly cuts down decision-making and treatment duration, leading to enhanced patient results.
What major market segments define the scope and growth of the stroke diagnostic and therapeutic market?
The stroke diagnostic and therapeutic market covered in this report is segmented -
1) By Type: Diagnostics, Therapeutics
2) By Stroke Prevention Strategies: Medication Management, Lifestyle Modifications, Surgical Interventions
3) By Application: Hemorrhagic Stroke, Ischemic Stroke
Subsegments:
1) By Diagnostics: Imaging Techniques, Blood Tests And Biomarker Analysis, Ultrasound Imaging, Neuroimaging Devices, Stroke Risk Assessment Tools
2) By Therapeutics: Thrombolytic Medications, Antiplatelet Agents, Anticoagulants, Surgical Interventions, Rehabilitation Devices And Therapy Solutions, Neuromodulation Therapies
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Which region dominates the stroke diagnostic and therapeutic market?
North America was the largest region in the stroke diagnostic and therapeutic market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the stroke diagnostic and therapeutic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the stroke diagnostic and therapeutic industry growth?
Major companies operating in the stroke diagnostic and therapeutic market are Johnson & Johnson Service Inc., Bayer AG, Abbott Laboratories, Medtronic plc, Boehringer Ingelheim International GmbH, Siemens Healthineers AG, Koninklijke Philips N. V., Stryker Corporation, GE HealthCare Technologies Inc., Boston Scientific Corporation, Terumo Corporation, Genentech Inc., Nihon Kohden Corporation, MicroPort Scientific Corporation, Penumbra Inc., ASAHI INTECC CO. LTD., Silk Road Medical Inc., RapidAI, Pharmazz Inc., Medfield Diagnostics AB, Perfuze Limited, Qure.ai Technologies Private limited
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What Is Covered In The Stroke Diagnostic And Therapeutic Global Market Report?
•Market Size Forecast: Examine the stroke diagnostic and therapeutic market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the stroke diagnostic and therapeutic market for a structured understanding.
•Key Players Overview: Analyze major players in the stroke diagnostic and therapeutic market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the stroke diagnostic and therapeutic market.
•Segment Contributions: Evaluate how different segments drive overall growth in the stroke diagnostic and therapeutic market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the stroke diagnostic and therapeutic market.
•Industry Challenges: Identify potential risks and obstacles affecting the stroke diagnostic and therapeutic market.
•Competitive Landscape: Review strategic developments in the stroke diagnostic and therapeutic market, including expansions, agreements, and new product launches.
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