According to Market Research Future (MRFR), the global ischemic stroke market is projected to grow at approximately 8.3% CAGR during the assessment period (2017 – 2023). Regulatory initiatives such as the FDA Fast Track program, which is designed to facilitate the development, and expedite the review of drugs, influence the market growth, driving the product launches rapidly. Fast Track designation aims to get new essential medicines to treat and fill unmet medical needs, addressing a broad range of serious conditions.
COVID-19 has brought a radical sea change in the healthcare industry. The pandemic is expected to act as a severe risk factor for ischemic stroke. A new study recently published in the American Journal of Neuroradiology suggests that COVID-19 would amplify acute ischemic stroke conditions. Coronavirus crises are further anticipated to push market growth further. Additionally, factors such as favorable reimbursement policies and ongoing product development commercialization boost market growth significantly.
Global ischemic stroke market is witnessing a constant rise in its revenues. Market growth majorly attributes to the growing cases of ischemic stroke and diabetes mellitus, driving the demand for surgical procedures. Rising demand for minimally invasive treatments and advancements in surgical procedures is the key driving force behind the market growth. Moreover, increasing government initiatives and funding support escalate the growth of the market to furthered height.
Ischemic Stroke Market – Segments
The market is segmented into five dynamics.
By Diagnosis: Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Carotid Ultrasound, Cerebral Angiography, Electrocardiography, Echocardiography, and others.
By Drug Class: Tissue Plasminogen Activator, Anticoagulant, Antiplatelet, Antihypertensive, and others.
By Surgery: Carotid Endarterectomy, Angioplasty, Endovascular Mechanical Thrombectomy, and others.
By End-Users: Hospitals Clinics, Medical Institutes, Research Organization, and others.
By Regions: Europe, Americas, Asia Pacific, and Rest-of-the-World.
Global Ischemic Stroke Market – Regional Analysis
North America dominates the global ischemic stroke market. The largest market share attributes to the growing prevalence of ischemic strokes and increasing demand to manage the condition. Besides, the increasing discoveries of technologically advanced ischemic stroke management programs contribute to the market growth in the region.
Europe stands second in the global ischemic stroke market in terms of the market share. The market is predominantly driven by the rising cases of acute ischemia stroke and diabetes mellitus among demographics. Technological advances in medical devices, alongside the availability of futuristic treatment facilities and rising per capita healthcare expenses, boost market growth.
Germany and the UK, with the high rates of ischemic stroke, lead the regional market exponentially. The European ischemic stroke market is expected to grow at a healthy CAGR during the forecast period.
The Asia Pacific ischemic stroke market is growing rapidly. With its large unmet clinical needs, the region attracts foreign investments, demonstrating the immense potential for market growth. Besides, factors such as the increasing prevalence of the condition and the availability of new treatment methods foster regional market growth.
Moreover, the growing population that is increasingly gaining awareness towards good health drives the regional market. Additionally, the increasing healthcare expenses and substantial funding support from public and private sectors further push the regional market growth. The APAC ischemic stroke market is estimated to create a considerable revenue pocket during the review period.
Players leading the global ischemic stroke market include Medtronic plc (US), Abbott Laboratories (US), Boston Scientific Corporation (US), Koninklijke Philips N.V. (Netherland), Cordis Corporation (US), GE Healthcare (US), Genentech, Inc. (US), Stryker Corporation (US), Merck Co., Inc. (US), Boehringer Ingelheim (Germany), Bayer AG (Germany), Sanofi (France), Philips Healthcare (US), Covidien plc (Ireland), Johnson Johnson (US), GE Healthcare (US), Penumbra, Inc. (US), Siemens Healthcare (US), Biogen (US), Hitachi, Ltd (Japan), Daiichi Sankyo (US), and Pfizer Inc. (US), among others.