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Stroke Management Market worth over $48.5bn by 2027

  • Published Date: September 13, 2021

Stroke Management Market size is set to surpass USD 48.5 billion by 2027, according to a new research report by Global Market Insights Inc.

Growing prevalence of cardiovascular diseases worldwide will impel the demand for stroke management products in the coming years. According to the American Health Association, globally, about 6.6 million people died due to stroke in 2019. Sedentary lifestyle, faltering dietary habits, smoking, high cholesterol & blood pressure, physical inactivity and obesity add to the risk of developing stroke. Thus, growing product adoption to reduce stroke-associated mortality rate will offer the unprecedented market growth opportunities. Additionally, government initiatives to generate awareness regarding stroke management will positively impact the product demand.

The COVID-19 pandemic has moderately impacted the market. During the period, decrease in number of patient admissions attributed to risk of infection has hampered the product demand. However, occurrence of stroke in hospitalized patients with COVID-19 has subsided the impact on the industry.

Growing demand for advanced therapies credited to increasing mortality rate associated with hemorrhagic strokes will offer significant growth opportunities

Hemorrhagic segment is expected to witness at 5.7% growth rate through 2027 led by the surge in number of hemorrhage cases over the past few years. According to the American Health Association, around 2.9 million deaths were reported owing to intracerebral hemorrhage (ICH). Further, nearly 0.4 million mortalities associated with subarachnoid hemorrhage were reported in 2019.

Rising product availability for treatment of cerebrovascular diseases with increasing patient pool will boost the market progression

Therapeutic devices segment accounted for more than 9 billion in 2020. Increasing prevalence of cardiovascular and cerebrovascular diseases is contributing to high product demand. To cater to increasing burden, the companies are focusing on technological developments to provide better outcomes with advanced features that will spur the product demand. Additionally, the use of several therapeutic devices such as stent retriever, embolic coils, flow diverters and aspiration catheters as stroke ailments for higher success rate and less complications will benefit the segment growth.

Browse key industry insights spread across 280 pages with 365 market data tables & 16 figures & charts from the report,Stroke Management Market Size By Type (Ischemic, Hemorrhagic, Transient Ischemic Attack {TIA}), By Product (Diagnostic Devices {Magnetic Resonance Imaging, Computed Tomography Scan, Electrocardiography, Carotid Ultrasound, Cerebral Angiography}, Therapeutic Devices {Stent Retriever, Surgical Clips, Embolic Coils, Flow Diverters, Aspiration Catheters}), By End-use (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027in detail along with the table of contents:

Infrastructure development to address emergency visits associated with stroke will propel the market value

Ambulatory surgery center segment is poised to expand at more than 6.3% CAGR till 2027. Availability of advanced technology-enabled devices and equipment in facilities will drive the patient preference. Further, lower risk surgeries, primary treatments with better convenience and reduced hospitalization time will accelerate the number of patient visits to these centers. Furthermore, favorable insurance policies will augment the segment expansion.

Rising treatment accessibility with developing infrastructure will create the growth opportunities for the European region

Europe stroke management market captured 28% of revenue share in 2020. Increasing incidence rate of chronic diseases mainly cardiovascular disorders, diabetes and hypertension among several others owing to unhealthy lifestyle is contributing to rising risk of stroke. For instance, according to the World Health organization (WHO), stroke is the second leading cause of death and adult disability in Europe. Thus, rising patient admissions will influence the demand for products in the region. Moreover, increasing treatment accessibility with developing healthcare infrastructure and spending ability will fuel the regional growth.

New product developments and launches by industry players will strengthen their market footprint

Prominent companies operating in the market include Abbott, Asahi Intecc Co. Ltd., Braun Melsungen AG, Boston Scientific Corporation, GE Healthcare, Johnson & Johnson, Medtronic, Koninklijke Philips N.V., and Siemens Healthineers. These industry leaders have undertaken numerous strategic initiatives such as collaborations, acquisitions, and new product launches to gain a competitive edge in the market.

Authors: Sumant Ugalmugle, Rupali Swain