Prevalence of Diabetes Expected to Push the Demand for the Global Ischemic Stroke Market
Ischemic Strokes occur when an artery or blood vessel supplying blood to the brain is blocked. The brain is dependent on the arteries to bring fresh blood from the lungs and heart. A blockage in the same causes ischemic stroke. The underlying reason behind such obstruction is the development of fatty deposits lining the vessel walls, also known as atherosclerosis.
According to the industry's latest report, the worldwide Ischemic stroke market Size was valued at USD 4.0 billion in 2022. The Ischemic Stroke market industry is projected to grow from USD 4.3 Billion in 2023 to USD 6.7 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.8% during the forecast period (2023 - 2030).
Research by the World Health Organization (WHO) states that around 17 million deaths have been noticed annually due to strokes. The higher mortality rate associated with strokes showcases an impending need for new and innovative drugs and diagnostic devices. The evolving lifestyle of individuals, prevalence of diabetes, increasing ageing population, and high tobacco usage are the major factors driving the market. Additionally, the increasing demand for minimally invasive procedures and advancements in surgical procedures are some of the key factors accelerating the ischemic stroke market growth. However, the high cost associated with such surgical procedures and the excessive medicinal usage for the treatment of the condition is reported as a major hindrance to the market growth.
Competitive Landscape
The Ischemic stroke Market Players includes like
Stryker Corporation (U.S.), Johnson Johnson (U.S.), Abbott Laboratories (U.S.), Genentech, Inc. (U.S.), Merck Co., Inc. (U.S.), Sanofi (France), Bayer AG (Germany), Koninklijke Philips N.V. (Netherland), Boston Scientific Corporation (U.S.), Medtronic plc (U.S.), Siemens Healthcare (U.S.), Pfizer Inc. (U.S.), GE Healthcare (U.S.), Covidien PLC (Ireland), GE Healthcare (U.S.), Philips Healthcare (U.S.), Hitachi, Ltd (Japan), Boehringer Ingelheim (Germany), Penumbra, Inc. (U.S.), Cordis Corporation (U.S.), Daiichi Sankyo (U.S.), Biogen (U.S.),
Market Segmentation
The Global neuro ischemic ulcer segmentation is based on key dynamics like drug class, diagnosis, end-users, and surgery.
- By drug class, the market segments into anticoagulant, tissue plasminogen activator, antihypertensive, antiplatelet, and others.
- By diagnosis, the market includes carotid ultrasound Computed Tomography (CT), echocardiography, cerebral angiography, Magnetic resonance imaging (MRI), electrocardiography, and others.
- By end-user, the market comprises of medical institutes, research organizations, hospitals clinics, and others.
- By surgery, the market divides into endovascular mechanical thrombectomy, carotid endarterectomy, and angioplasty.
Regional Analysis
The Global ischemic stroke Market is geographically segmented into the following regions: Asia Pacific, America, Europe, and the Middle East and Africa.
The Americas is reported to be the largest market for ischemic stroke due to technological innovations, favourable government initiatives, and rising demand for ischemic stroke products.
Europe holds the second largest share of the market and is expected to hold on to the same in the forthcoming years due to numerous factors. Rising prevalence of acute ischemia stroke cases and advancements in the surgical device technology are two key factors driving the market herein. Other driving factors of the market in this region is the growing number of diabetes mellitus population primarily in the developed nations of Europe.
Asia Pacific is identified to witness the most promising growth in the forecast period to cement its place in the global ischemic stroke market. The proliferating growth of the region can be attributed to the widespread prevalence of stroke cases in the Asia Pacific region. Both China and India are two of the major contributors to the regional market and will play major roles in accelerating the overall Asia Pacific region. Manufacturers are quickly realizing the potential this region holds and are expanding their operations therein to capitalize on the same.
The Middle East region is anticipated to grow at a fast rate owing to factors like increasing emphasis on research and development activities in the healthcare sector and continuous development of the healthcare infrastructure.
October 25th, 2018, it was revealed at the ASN Kidney Week 2018, that patients with late-stage chronic kidney disorder who are receiving the treatment of warfarin were the most probable to experience cerebrovascular accidents like transient ischemic attack or ischemic stroke. The study was undertaken by the University of Tennessee Health Science Centre.
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