The Global Stroke Diagnostics and Therapeutics Market is valued at $20.5 billion in 2014 and it is expected to reach nearly $34.4 billion by 2022, growing at a CAGR of 6.68% from 2014 to 2022. Stroke is referred to brain attack, this occurs when there is an interruption in the supply of blood to the brain which leads brain cells to die. The factors driving the Global Stroke Diagnostics and Therapeutics Market include technological advancement, growing aging population, and people suffering from diabetes, increasing health expenditure, hypertension and also increasing tobacco users. However factors such as unfavourable reimbursement scenario and high cost of treatments are restraining the market growth.
The Global Stroke Diagnostics and Therapeutics Market is categorized by type, application and geography. By type, the market is segmented into Diagnostics and Therapeutics. The Diagnostics is sub categorized into Magnetic Resonance Imaging (MRI), Computed Tomography Scan (CT scan), Electrocardiography, Carotid Ultrasound, Cerebral Angiography and Others. The Therapeutics is sub segmented into Tissue Plasminogen Activator, Antiplatelet, Antihypertensive and Anticoagulant. On the basis of application, the Stroke Diagnostics and Therapeutics Market is segmented into haemorrhagic stroke and ischemic stroke. Ischemic strokes are caused due to blocked or narrowed arteries that connect to the brain, which results in reduced blood flow in these arteries.
Hemorrhagic stroke is caused on account of the arteries in the brain either leaking blood or bursting open. In the TIAs, the flow of blood to the brain is only disrupted temporarily for a short period of time. By geography, it is segmented into North America, Europe, Asia Pacific, and Rest of the World. North America has the largest market for stroke diagnostics and therapeutics followed by Europe. This is due to the increasing number of patients at the risk of developing stroke, technologically advanced equipment for the diagnosis and treatment of stroke, rise in research and development activities, increasing awareness among people about the causes of stroke, and improved healthcare infrastructure in the region.
The stroke diagnostics and therapeutics market in Asia is expected to witness the high growth rate in the next few years. This is due to growing aging population, evolving R&D activities for drug discovery and development, increasing government support in the form of funding, growing awareness about stroke and its causes, and developing healthcare infrastructure in the region. In addition, growing demographics and economies in the developing countries such as India, China, and Japan are expected to lead the growth in the stroke diagnostics and therapeutics market in Asia.
Some of the prominent players in Global Stroke Diagnostics and Therapeutics Market include Abbott Laboratories, Siemens AG, Stryker Corporation, GE Healthcare, Medtronic plc, Cordis Corporation, Genentech Inc., Boston Scientific Corporation, Coaxia Inc. and Philips Healthcare.
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