Increase in incidence of stroke, innovations in treatment options, and advancements in imaging technologies drive the growth of the global acute ischemic stroke diagnosis and treatment market.
PORTLAND, Ore., Dec. 13, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Acute Ischemic Stroke Diagnosis and Treatment Market by Type (Diagnostics and Treatment), and End User, (Hospitals and Clinics, Ambulatory Surgery Centers, Diagnostic Laboratories and Imaging Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global acute ischemic stroke diagnosis and treatment industry generated $5.1 billion in 2022, and is anticipated to generate $9.2 billion by 2032, witnessing a CAGR of 6.1% from 2023 to 2032.
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Prime determinants of growth
Rise in number of people suffering from ischemic stroke, innovations in treatment options, and advancements in imaging technologies drive the growth of the global acute ischemic stroke diagnosis and treatment market. However, the high cost of innovative therapies restricts market growth. Moreover, the high market growth potential in emerging markets presents new opportunities in the coming years.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$5.1 billion |
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Market Size in 2032 |
$9.2 billion |
|
CAGR |
6.1 % |
|
No. of Pages in Report |
228 |
|
Segments covered |
Type, End User, and Region. |
|
Drivers |
Increase in incidence of stroke Advancements in imaging technologies Innovations in treatment option |
|
Opportunity |
High market growth potential in emerging markets |
|
Restraint |
High cost of innovative therapies |
Economic Downturn Analysis: Impact of Recession in 2023 on the Acute Ischemic Stroke Diagnosis and Treatment Market
- During recession, individuals and governments might tighten their budgets, leading to reduced healthcare spending. This could affect patients’ ability to access and afford acute ischemic stroke diagnosis and treatment, potentially leading to decreased demand for imaging systems and treatment. In addition, economic downturns often lead to reduced healthcare budgets, impacting the purchasing power of healthcare facilities. This results in delayed or scaled-down investments in expensive acute ischemic stroke diagnosis and treatment technologies.
- However, the surge in incidences of ischemic stroke, rise in technological advancements and growing awareness about early diagnosis and treatment. This could boost the need for specific types of acute ischemic stroke diagnosis and treatment that is experiencing a moderate positive impact from the global recession.
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The treatment segment to maintain its leadership status throughout the forecast period
Based on type, the treatment segment held the largest market share in 2022, accounting for more than three-fifths of the global acute ischemic stroke diagnosis and treatment market revenue. This segment is projected to attain the highest CAGR of 6.4% from 2023 to 2032. This is attributed to the increasing adoption of sophisticated treatment modalities, the notable success of mechanical thrombectomy, and continuous advancements in treatment methodologies have significantly enhanced the effectiveness of these advanced approaches.
The hospitals & clinics segment to maintain its lead position during the forecast period
Based on end user, the hospitals & clinics segment accounted for the largest market share in 2022, contributing to less than half of the global acute ischemic stroke diagnosis and treatment market revenue. This is attributed to healthcare facilities equipped with specialized resources, medical expertise, and comprehensive infrastructure essential for effective diagnosis and treatment of acute ischemic stroke cases.
However, the diagnostic laboratories and imaging centers segment is projected to attain the highest CAGR of 6.8% from 2023 to 2032. This is attributed to their ability to provide specialized and advanced diagnostic services, efficiency in delivering timely results, and integration of cutting-edge technologies.
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North America to maintain its dominance by 2032
Based on region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global acute ischemic stroke diagnosis and treatment market revenue. This is attributed to its well-developed healthcare infrastructure, early adoption of innovative technologies, proactive healthcare policies, and a comprehensive approach to public health awareness.
However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.1% from 2023 to 2032. Rise in awareness about early diagnosis and treatment, significant investments in R&D in the medical sector and surge in demand for advanced imaging systems, are expected to drive the growth of the acute ischemic stroke diagnosis and treatment market.
Leading Market Players: –
- AstraZeneca plc
- F. Hoffmann-La Roche Ltd.
- Boehringer Ingelheim International GmbH
- GE Healthcare
- Koninklijke Philips N.V.
- Siemens
- Stryker Corporation
- Johnson & Johnson
- Medtronic plc
- Abbott Laboratories
The report provides a detailed analysis of these key players in the global acute ischemic stroke diagnosis and treatment market. These players have adopted strategies such as product approval, partnership, and agreement to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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