Stroke Diagnostic and Therapeutic Market Size, Share, and Trends 2024 to 2034

The global stroke diagnostic and therapeutic market size was valued at USD  36.12 billion in 2023 and is predicted to hit over USD  71.96 billion by 2032, poised to grow at a CAGR of 8% during the forecast period 2023 to 2032.

Key Takeaways:

• North America dominated the market with the largest revenue share of 26.45% in 2023.
• Asia Pacific is expected to expand at the fastest CAGR of 8.8% between 2023 and 2032.
• By type, the diagnostics segment has contributed around 56.24% revenue share in 2023.
• By type, the therapeutics segment is projected to grow at a notable CAGR of 7.8% between 2023 and 2032.
• By application, the Ischemic stroke segment led the market with the biggest market share of 62.34% in 2023.
• By application, the hemorrhagic stroke segment is growing at a CAGR of 8.1% between 2023 and 2032.

Crucial factors accountable for market growth are:

• Increasing the number of patients at risk of developing stroke
• Increasing patient awareness
• Increased healthcare expenditure
• A large pool of the geriatric population

Stroke Diagnostic and Therapeutic Market in the U.S. 2023 To 2032

The U.S. stroke diagnostic and therapeutic market size was valued at USD 5.40 billion in 2023 and is expected to reach USD 11.64 billion by 2032 with a notable CAGR of 8.9% from 2023 to 2032.

North America is Valued to be the Major Market for Stroke Diagnostic And Therapeutic

The study report delivers prospects and trends of stroke diagnostic and therapeutic products across different geographical regions counting Europe, North America, Latin America, Asia-Pacific, Middle East, and Africa. However, geographically, the stroke diagnostic and therapeutic market is dominated by North America due to growing stroke patient’s pool in the countries U.S. and Canada, availability of advanced healthcare infrastructure, presence of key market players, and government initiatives that improve access to advanced power instruments the treatment of stroke in the North America.

Europe constitutes a share of more than 24% of the global in 2023. The presence of key operating players in the countries of the region is expected to help the development of the Europe market in the coming years of the forecast period ranging. Asia Pacific stroke diagnostics and therapeutics market is anticipated to grow at a CAGR of 8.4% over the forecast period. Increasing health awareness among the individuals in the emerging economies is expected to help in driving the growth of the global market in Asia Pacific region.

Key Market Insights:

Growing ongoing research & development in the healthcare sector technologies for the stroke can create lucrative growth opportunities for the key players operating in the global market. In the developed countries such as U.S and Canada the healthcare treatment, service costs are relatively high owing to availability of advanced healthcare infrastructure. Due to the ongoing healthcare technology advancements highly sophisticated tools and apps are used every day, around the globe. Scientific and technical developments give rise to more powerful methods for disease prevention and recovery.

Despite various technical advancements benefiting different medical fields, it's no wonder that such innovations often create waves in stroke management. In addition to defining and recognizing the symptoms of this disease, both IT and mobile health apps provide valuable resources to resolve the issues that occur in this field. Technology also benefits healthcare providers, and without complex procedures, patients can monitor their heart health. Advanced technology also assists with prevention, diagnosis, and recovery. Further, growth in emerging economies is another factor to creating growth opportunity for the key players in the global market.

COVID-19 Impact on Global Stroke Diagnostic and Therapeutic Market

The effects of Covid-19 pandemic will be played out and analyzed on the overall industry including both the demand side and supply side perspectives. In recent research studies of Covid-19 pandemic, it has been observed that the individuals having stroke disorder are at high risk of getting infected. The stroke patients are highly susceptible to develop fever, which is a key factor keeping stroke patient at high risk during Covid-19 pandemic. Moreover, according to some researches, the infection of Covid-19 can cause blood clotting and this may lead to stroke especially, in the old age population.

Future of Global Stroke Diagnostic and Therapeutic Market

Key companies like Medtronic plc and cerebrotech Medical Systems, Inc. are aiming towards profitable development by accepting strategies like mergers and acquisitions, weighty investments in the industrial facilities that is expectable to fuel the worldwide market growth in near future. This tendency is likely to continue and will enhance growth of the aiming industry in forecast time frame. In 2019, the leading player Boston Scientific Corporation introduced the Vercise Gevia Deep Brain Stimulation System as well as Vercise Primary Cell.

Stroke Diagnostic and Therapeutic Market Scope

Segment Analysis:

The Diagnostics Segment Is Predictable To Lead the Type Segment of Stroke Diagnostic and Therapeutic Market Revenue

On the basis of type the global market is segmented into two major types’ diagnostics and therapeutics types. The diagnostics division was dominant with significant share in 2022. However, the therapeutics type is expected to fuel growth of the global industry in the near future.

Ischemic stroke Segment Is Likely to Take over the Application Segment of Stroke Diagnostic And Therapeutic Market Revenue

On the basis of application the global market is segregated into ischemic and hemorrhagic yes of stroke. The ischemic stroke segment is expected to hold share of more than 62% in the global market in 2023. Ischemic stroke is the most usual type of stroke which is caused by a blood clot that blocks a blood vessel in the brain.

Stroke Diagnostic and Therapeutic Market Companies

The companies focusing on research and development are expected to lead the global stroke diagnostic and therapeutic market. Foremost players contending in global stroke diagnostic and therapeutic market are as follows:

• Neural Analytics
• Cordis Corporation
• Cerebrotech Medical Systems, Inc.
• Koninklijke Philips N.V.
• Medtronic plc.
• Boston Scientific Corporation
• GE Healthcare
• Medfield Diagnostics
• Samsung Neurologica
• NIRX
• Gowerlabs
• Siemens AG
• Genentech Inc.
• Merck & Co., Inc.
• Hyperfine MRI
• Stryker Corporation
• Abbott Laboratories

For the better understanding the recent situation of the global stroke diagnostic and therapeutic market and for most policies of the country, Precedence Research forecast the future evolution of the stroke diagnostic and therapeutic industry.

Key Market Developments:

• In April 2020, Medtronic gets emergency authorization to sell compact ventilator in the U.S.
• On 23rd January 2020 FDA approves next generation medtronic leadless pacemaker.
• In January 2019, Medtronic, Ghent University, Imec and CARDIS project partners collaborated to develop a prototype medical device for the screening of arterial stiffness and the diagnosis of cardiovascular diseases
• In January 2019, the company agreed to acquire EPIX Therapeutics, a medical device company.
• In October 2019, Medtronic acquired AV Medical a company of medical devices that develops interventions based on catheters.

Major Market Segments Covered:

By Type

• Diagnostics
  • Magnetic Resonance Imaging (MRI)
  • Computed Tomography Scan (CT scan)
  • Electrocardiography
  • Carotid Ultrasound
  • Cerebral Angiography
  • Others
• Therapeutics
  • Tissue Plasminogen Activator
  • Antiplatelet
  • Antihypertensive
  • Anticoagulant

By Application

• Haemorrhagic Stroke
• Ischemic Stroke

By Geography

• North America
• • • U.S.
    • Canada
• Europe
  • • Germany
    • France
    • United Kingdom
    • Rest of Europe
• Asia Pacific
  • • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Asia Pacific
• Latin America
  • • Brazil
    • Rest of Latin America
• Middle East & Africa (MEA)
  • • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa