Zion Market Research has published a new report titled “Stroke Diagnostics and Therapeutics Market by Diagnostics (Magnetic Resonance Imaging, Computed Tomography Scan, Electrocardiography Carotid Ultrasound, Cerebral Angiography and Others) by Therapeutics (Tissue Plasminogen Activator, Antiplatelet, Antihypertensive, and Anticoagulant) for Haemorrhagic Stroke and Ischemic Stroke – Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, the global stroke diagnostics and therapeutics market accounted for USD 21.50 billion in 2015 and is expected to reach USD 31.00 by 2021, growing at a CAGR of approximately 7.0% between 2015 and 2021.
Stroke arises due to interruptions in the blood supply to the brain, either due to the rupture or blockage of blood vessels which leads to the death of brain cells. Stroke is one of the major causes of death worldwide, with higher prevalence in the old age population.
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According to the World Health Organization (WHO), stroke accounts for around 17 million deaths annually. As per the Centers for Disease Control and Prevention (CDC), stroke leads to 1 out of every 20 deaths costing around USD 34 billion each year in the U.S. Hence, there is an impending need for early diagnostic devices and therapeutics to prevent deaths from stroke. Because stroke occurs rapidly and requires immediate treatment, stroke is also called a brain attack. When the symptoms of a stroke last only a short time (less than an hour), this is called a transient ischemic attack (TIA) or mini-stroke.
Stroke diagnostics and therapeutics market have been accelerated by the large patient pool along with rising aging population across the globe. Moreover, increasing the percentage of the geriatric population in western countries especially in Europe is the key driving factor for fueling the growth of stroke diagnostics and therapeutics market. Furthermore, hypertension, atrial fibrillation and coronary heart diseases are the supporting factors which promote the growth of stroke diagnostics and therapeutics market. However, the high cost of treatment directly affects the growth of stroke diagnostics and therapeutics market. In addition, lack of transparent reimbursement scenario is also likely to impact the growth of stroke diagnostics and therapeutics market. Nonetheless, ongoing research and development in the healthcare sector technologies are expected to open growth avenues for the stroke diagnostics and therapeutics market over the years.
Based on diagnostics, the global stroke diagnostics and therapeutics market is segmented into five types: magnetic resonance imaging, computed tomography scan, electrocardiography, carotid ultrasound, cerebral angiography and others. Magnetic resonance imaging dominates the diagnostic segment of global stroke diagnostics and therapeutics market in 2015. This growth is attributed due to the huge demand of magnetic resonance in treatment or diagnostic of stroke.
Based on therapeutics, the global stroke diagnostics and therapeutics market is segmented into four types: tissue plasminogen activator, antiplatelet, antihypertensive and anticoagulant. Antiplatelet and anticoagulants are the drug of choice for the initial treatment of stroke. Aspirin and warfarin are the drugs included in a therapy for the stroke management therapy.
Based on application, the global stroke diagnostics and therapeutics market is segmented into two types: haemorrhagic stroke and ischemic stroke. Ischemic stroke dominated the application segment of global stroke diagnostics and therapeutics market in 2015. This segment is expected to remain on the hike during the forecast period. The growth is attributed due to huge prevalence of ischemic stroke in elderly age patient when distinguishing with haemorrhagic stroke.
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In terms of geography, in 2015, North America was the leading market for stroke diagnostics and therapeutics market in terms of revenue followed by Europe due to the availability of advanced technologically and infrastructure. Moreover, stroke diagnostics and therapeutics market have huge opportunity in emerging market like Asia Pacific, Latin America due to the huge patient base, public awareness, increase disposable income, government initiatives, and healthcare infrastructure.
The key participants operating in the global stroke diagnostics and therapeutics market include Abbott Laboratories, Medtronic plc, Boston Scientific Corporation, Cordis Corporation, Koninklijke Philips N.V., GE Healthcare, Siemens AG, Stryker Corporation, Genentech, Inc. and Merck & Co., Inc.
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