Stroke Management Market Revenue to Cross USD 47B by 2026: Global Market Insights, Inc.

SELBYVILLE, Del., September 28, 2020 (Newswire.com) - ​According to the latest report “Stroke Management Market by Type (Ischemic, Hemorrhagic, Transient Ischemic Attack), Diagnostics (Magnetic Resonance Imaging, Computed Tomography Scan, Electrocardiography, Carotid Ultrasound, Cerebral Angiography), Therapeutic Devices (Stent Retriever, Surgical Clipping, Embolic Coils, Flow Diverters, Aspiration Catheters), End-use (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of stroke management will cross $47 billion by 2026. Rising incidences of chronic diseases such as cardiovascular, cancer, diabetes and others will trigger the market growth.

Technological advancements for effective stroke treatment and diagnosis will drive market expansion. Several advances in stroke rehabilitation and recovery have led to substantial improvements in the health outcomes of stroke patients. Thrombectomy is a surgical procedure that removes a blood clot from a blood vessel. Earlier, it was assumed that thrombectomy was only a feasible option for patients within the first six hours of the stroke. However, recent trials have stated that thrombectomy can be helpful for patients even up to 24 hours after the stroke, thereby driving the market growth. Furthermore, the rising adoption of mobile stroke treatment units for treatment in stroke patients will enhance the industry's progression.

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The stroke management market for the transient ischemic attack (TIA) segment is expected to experience significant growth during the forecast period. Surging incidences of high cholesterol and blood pressure leads to various cardiac and neurological disorders. Additionally, technologically advanced procedures including CT angiography to detect transient ischemic attack will favor the segment's growth. The incidence of transient ischemic attack (TIA) increases with age, thereby, the elderly population base has more chances of getting a stroke.

The carotid ultrasound segment in the stroke management market accounted for around USD 4 billion in 2019. Benefits of carotid ultrasounds, including the minimized risk of radiation to patients and improved safety as compared to conventional angiography, will boost the segment's demand. Also, ultrasound scanning provides a clear picture of soft tissues as compared to other imaging technologies that will drive the segment value.

Asia-Pacific's stroke management market size is anticipated to expand at a 7% CAGR till 2026. The burden of cardiovascular diseases increases exponentially with surging cases of heart attack or stroke leading to rising demand for stroke management devices in the APAC region. Stroke mortality is higher in Asia than in the Americas and Western Europe, except in some countries including Japan, creating a need for stroke management devices across the region. An increasing number of private hospitals and diagnostic clinics for the treatment of patients suffering from stroke across Asia-Pacific will augment the regional market growth.

The embolic coils therapeutic devices is projected to witness more than 6% growth rate through 2026.  Embolic coils offer several advantages including lower risk of epilepsy, better physiological outcome, and easier access to the vertebrobasilar system, fostering the segment progression. Embolic coiling is gradually replacing surgical clipping, as embolic coils are considered the most preferred method for treating intracranial aneurysms.

The ambulatory surgical centers held over 21.5% of the stroke management market share in 2019 due to increasing patient preference towards ambulatory centers for efficient patient management and better treatment. Numerous benefits offered by these centers including minimum risk of hospital-acquired infections (HAIs), quality care, shorter hospital stay, and cost-effective treatment proves beneficial for the market revenue. Additionally, as medical advancements continue, more procedures can be expected to be performed at ambulatory surgical units.

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Some of the prominent players operating in the stroke management market are Abbott Laboratories, Medtronic, B. Braun Melsungen AG, Claret Medical, Integer Holdings, Penumbra, GE Healthcare, Siemens, Johnson & Johnson, and Teleflex Incorporated. These market applicants are executing various growth strategies such as new product launch, mergers, collaborations, and partnerships in order to increase their market share. For instance, in May 2019, B. Braun announced a collaboration with NuMED Inc. for the launch of the NuDEL CP Stent delivery system. This delivery system is useful for the treatment of right ventricular outflow. The strategy assisted the company to expand its product offerings and garner a larger market share.

Table of Contents (ToC) of the report:

Chapter 3.  Stroke Management Market Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 - 2026

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.2.  Industry pitfalls and challenges

3.4. Growth potential analysis

3.4.1.  By type

3.4.2.  By diagnostics

3.4.3.  By therapeutic devices

3.4.4.  By end-use

3.5. COVID-19 impact analysis

3.6. Porter’s analysis

3.7. Competitive landscape, 2019

3.7.1.  Strategy dashboard

3.8. PESTEL analysis

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About Global Market Insights, Inc.

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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Source: Global Market Insights, Inc.