Stroke Management Market Dynamics 2021-2031
The stroke management market is expected to grow from US$ 33.48 billion in 2021 to US$ 55.37 billion by 2031; it is expected to grow at a CAGR of 7.5% from 2022 to 2031.
The increasing incidence of chronic diseases, including hypertension, hyperlipidemia, and diabetes, has contributed to the growth of the stroke management market. Hypertension is the leading risk factor for stroke as blood pressure higher than 140/90mmHg can damage the blood vessels that supply blood to the brain. Furthermore, diabetes is also a major cause of stroke. As per the American Stroke Association, people with diabetes have twice the chance of having a stroke, and may also witness the early onset of stroke. Further, within every two minutes, an adult with diabetes is hospitalized due to stroke in US, as per the same data. As a result, the market leaders are working to develop innovative treatments for stroke, and a wide variety of new drugs and devices are under investigation for treatment and diagnosis of all major types of strokes, and many of them are expected to receive approval in the near future. For instance, in September 2021, Johnson & Johnson announced the launch of Cerenovus Stroke Solutions, which consists of three devices that can assist physicians in removing clots. Furthermore, in August 2021, MicroTransponder Inc. received FDA approval for Vivistim System, a first-of-its-kind stroke rehabilitation system, for the treatment of moderate to severe upper extremity motor deficits associated with chronic ischemic stroke.
MARKET DYNAMICS
The growth of the stroke management market is majorly attributed to the increasing prevalence of chronic disorders, technological advancement in diagnosis & treatment of stroke, continuous increase in the number of tobacco users, and a rise in the geriatric population. However, slow drug approval and huge cost associated with procedures involved in the treatment and diagnosis of stroke are hampering the market growth.
MARKET SCOPE
The “Global Stroke Management Market Analysis to 2031” report aims to provide an overview of the stroke management market with detailed market segmentation. The report provides key market statistics based on the performances of the leading players. It also offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global stroke management market is bifurcated into type and application. Based on type, the market is divided into diagnostic and therapeutic. Based on application, the market is bifurcated into ischemic stroke and haemorrhagic stroke.
REGIONAL FRAMEWORK
The global stroke management market is segmented into five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report covers analysis and forecast of 18 countries across the world along with trends and opportunities prevailing in the region.
North America dominated the stroke management market with ~37% share in 2021. The market growth in the region is majorly attributed to the presence of a huge population with chronic disorders along with the presence of leading market players such as Abbott Laboratories, B Braun Melsungen AG, Boston Scientific Corporation, Bristol Myers Squibb Co., Cardinal Health Inc., and General Electric Company. The below figure showcases the revenue growth trend in the North America stroke management market:
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, that impact the stroke management market. It also provides an exhaustive PEST analysis of the factors affecting the market.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic resulted in the increased demand for stroke management drugs such as Alteplase, Clopidogrel, and Atorvastatin as the prevalence of stroke increased due to the spread of SARS-CoV-2. This led to a high volume of orders among drug manufacturers, resulting in a higher production volume. As a result, the product profit of various drug component manufacturers increased. Thus, the procurement of drug components grew during the initial phase of the pandemic, thereby boosting the growth of the global stroke management market.
Rising awareness about stroke resulted in a sudden rise in the diagnostic rates of the disease, which ultimately increased the demand for stroke targeting drugs such as Ticagrelor, Alteplase, and Clopidogrel. The recombinant tissue plasmogen activators are the most effective treatment for ischemic stroke and are currently prescribed as first-line treatment. As a result, the procurement of recombinant tissue plasmogen activators has increased, which is bolstering the stroke management market.
Stroke Management Market Report Analysis
CAGR (2023 - 2031)
US$ 38.69 Billion
US$ 69.00 Billion
Report Coverage
Key Players
Regional Overview
Market Segmentation
By Type
By Application
The report covers key developments in the stroke management market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Inorganic growth strategies such as acquisitions, partnerships, and collaborations have encouraged the expansion of business and the customer base of market players. The market players operating in the stroke management market are anticipated to experience lucrative growth opportunities in the coming years with the rising demand for stroke treatments.
The report also includes the profiles of major stroke management companies, along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years. The list of a few companies engaged in the stroke management market is mentioned below:
- Abbott Laboratories
- B Braun Melsungen AG
- Boston Scientific Corporation
- Bristol Myers Squibb Co.
- Cardinal Health Inc.
- General Electric Company
- Glaxosmithkline Plc
- Medtronic Plc
- Merck And Co. Inc.
- Siemens AG.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the current study.
Stroke Management Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 38.69 Billion |
| Market Size by 2031 | US$ 69.00 Billion |
| Global CAGR (2023 - 2031) | 7.50% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
|
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
The List of Companies
1. Abbott Laboratories
2. B Braun Melsungen AG
3. Boston Scientific Corp.
4. Bristol-Myers Squibb
5. Cardinal Health
6. Medtronic Plc.
7. GlaxoSmithKline Plc.
8. GE Healthcare
9. Merck
10. Koninklijke Philips N.V.
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