Stroke Diagnostics and Therapeutics Market Report Highlights
- The global stroke diagnostics and therapeutics market was valued at USD 34.45 billion in 2022.
- It is projected to reach USD 66.41 billion by 2032.
- The market is estimated to grow at a CAGR of 7.2% from 2022 to 2032.
- In 2022, the ischemic stroke segment accounted for the largest market share, holding 83.6%.
- The diagnostics segment is expected to experience the fastest growth, with a CAGR of 6.9% from 2023 to 2032.
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According to the Centers for Disease Control and Prevention, it is estimated every year, more than 79,5000 people in the US have strokes, and 87% of all strokes are Ischemic Strokes.
A stroke occurs when the normal blood flow to the brain is interrupted due to a blockage or sudden bleeding. The majority of strokes, around 90%, are ischemic strokes resulting from blocked blood vessels, while the remaining cases are hemorrhagic strokes caused by bleeding in the brain. Strokes are considered a medical emergency, carrying the potential for lasting damage, disability, or even fatality. Symptoms vary from weakness and paralysis to sudden severe headaches, vision problems, and speech difficulties. To diagnose a stroke and determine its type and location, medical professionals rely on diagnostic tests such as CT and MRI scans. Recent advances in AI in MRI are further bringing precision and accuracy to the results. In the United States alone, over 700,000 people experience strokes annually, underscoring the significance of this health concern on a global scale. Ischemic strokes, often triggered by arterial blockage, prevail in occurrence, while hemorrhagic strokes, typically a result of artery or vein rupture, constitute a smaller yet impactful percentage.
Medical professionals use diagnostic tests to rule out other health issues with similar symptoms. Imaging tests focus on examining the blood vessels in the brain, aiding in determining the type and location of a stroke. The timeliness of these tests is crucial for an accurate diagnosis and effective treatment.
Various imaging techniques are employed for stroke diagnostics:
- Computed tomography (CT): Utilizing X-rays, a brain CT scan captures detailed images, often performed promptly after a suspected stroke. It reveals whether there is bleeding or damage to brain cells.
- Magnetic resonance imaging (MRI): An MRI creates detailed brain images using magnets and radio waves. It can be an alternative or supplementary to CT scans, identifying changes in brain tissue and cell damage.
- Imaging Tests: Additional tests like digital subtraction angiography (DSA) and positron emission tomography (PET) are employed to examine narrowed blood vessels, aneurysms, or arteriovenous malformations (AVMs) in the brain.
As the demand for advanced diagnostic tools and technologies grows, the global market for stroke diagnostics is witnessing an increase. The emphasis on efficient and accurate stroke detection expands this market worldwide. Essential for treatment decisions and prognostication, neurological assessment plays a pivotal role, especially considering that 20-40% of stroke cases may undergo neurological deterioration. With a growing awareness and emphasis on practical solutions for strokes, the global market for stroke diagnostics and treatment is witnessing an upward trend.
COVID-19 Pandemic Bolstered Stroke Diagnostics and Therapeutics Market Globally
The impact of the COVID-19 pandemic on the global Stroke diagnostic and therapeutic market has been significant, with repercussions observed on both the demand and supply sides of the industry. Recent research highlights that individuals with a history of Stroke are at an elevated risk of contracting COVID-19. Stroke patients, particularly susceptible to developing fever, face heightened vulnerability during the pandemic. Furthermore, studies indicate that COVID-19 infection can lead to blood clotting, increasing the risk of Stroke, particularly among the elderly.
In the United States, the substantial number of severe COVID-19 cases has resulted in a significant mortality toll, particularly affecting counties with metropolitan areas and higher proportions of Black, Hispanic, and economically disadvantaged populations. The cumulative COVID-19 death rate has varied across demographics, emphasizing the disproportionate impact on communities with higher percentages of Black individuals, Hispanic individuals, and those living in poverty. The repercussions of the pandemic extend beyond immediate health concerns, influencing life expectancy in the United States. Estimations reveal a decline in overall life expectancy, notably impacting populations with higher COVID-19 mortality rates. Life expectancy reductions have been observed across gender and racial lines, with the pandemic causing declines in NH Black, Hispanic, and NH White individuals.
As a consequence of the heightened awareness and focus on health issues brought about by the pandemic, there is a noteworthy increase in the global market for stroke diagnostics. The demand for advanced diagnostic tools and treatments for Stroke is rising, reflecting the growing recognition of the importance of addressing health vulnerabilities during the COVID-19 crisis.
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