Stroke Diagnostics And Therapeutics Market By Type (Diagnostics, Therapeutics), By Application (Ischemic Stroke, Hemorrhagic Stroke), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

The Global Stroke Diagnostics And Therapeutics Market size is expected to be worth around USD 81.7 Billion by 2033 from USD 38.2 Billion in 2023, growing at a CAGR of 7.9% during the forecast period from 2024 to 2033.

The Stroke Diagnostics and Therapeutics Market is a dynamic industry operating within the healthcare industry focused on, as the name suggests, diagnosing and treating strokes. A stroke, also referred to as brain attack, is a severe medical emergency that occurs in case of an interruption in blood flow to the brain. The market encompasses a variety of diagnostic tools and therapeutic interventions, that assist in improving patient outcomes and reducing disability.

Furthermore, these practices also allow chances for preventing any future incidences of stroke. Key components of this market include advanced imaging technologies such as CT scans, MRI, and angiography. The results from which facilitate timely diagnosis of the type and accuracy of stroke. Moreover, there are rapid diagnostic tests and biomarkers under development to expedite diagnosis and guide treatment decisions effectively.

Based on therapeutics there are a multitude of interventions available aimed at mitigating negative effects of stroke, the most notable example of which is tissue plasminogen activator (tPA), which is a clot dissolving medication administered in case of acute ischemic stroke to restore blood flow.

Mechanical thrombectomy procedures assist in direct removal of blood clots, which leads to favourable outcomes for many. Rehabilitation therapies assist in the post-stroke recovery, and focus on physical, occupational, and speech therapies that enhance patients’ functional abilities. Advancements in neuroprotective agents, neurostimulation techniques, and innovative approaches (for example, stem cell therapies) show promising avenues for treatment and management of stroke.

• According to the Stroke Awareness Foundation, approximately 80% of strokes are avoidable, and about 25% of individuals who survive their initial stroke will experience another within five years.
• According to the World Stroke Organization, the global cost of stroke is estimated to exceed USD 721 billion, accounting for approximately 0.66% of the global Gross Domestic Product (GDP).

Key Takeaways

• The global stroke diagnostics and therapeutics market generated a revenue of USD 38.2 billion in 2023, and is expected to reach USD 81.7 billion at the end of the forecast period, accompanied by a CAGR of 7.9%.
• The Global Stroke Diagnostics And Therapeutics Market in 2023 saw the therapeutics segment as the highest revenue generator, accounting for 57.3% of the market share.
• Within the market’s application-based segmentation, the ischemic stroke segment emerged as the leader, contributing 76.4% of the market’s revenue.
• North America retained its dominance in the global market, holding a substantial market share of 38.6% in 2023.

By Type Analysis

Based on type, the market is segmented into diagnostics and therapeutics. Among these, the therapeutics segment generated the most revenue for the Global Stroke Diagnostics And Therapeutics Market in 2023, amounting to a revenue share of 57.3%. More often than not the patient is in immediate need of treatment after a stroke, which is provided first. Furthermore, the easy availability of treatment alternatives also contributes to the growth of the segment.

By Application Analysis

When classified on the basis of application, the segments observed in the market are ischemic stroke and hemorrhagic stroke. Out of the two, the ischemic stroke segment generated the most revenue for the market in 2023, with a market share of 76.4%. This is attributed to the comparatively higher prevalence of ischemic stroke.

As per a research published in the Neurology Clinics journal, about 70% to 80% of all stroke-related deaths in the USA are attributed to ischemic strokes. With the overall incidence of stroke increasing the segment is expected to grow at a considerable pace.

Key Market Segments

By Type

• Diagnostics
  • Imaging Technologies
    • CT
    • MRI
    • Angiography
  • Blood Tests
  • Electrocardiography
• Therapeutics
  • Medications
    • Antiplatelets
    • Anticoagulants
  • Thrombolytic Therapy
  • Mechanical Thrombectomy
  • Neuroprotective Agents
  • Rehabilitation Services

By Application

• Ischemic Stroke
• Hemorrhagic Stroke

Drivers

Rising Incidence of Stroke Cases

The increasing incidence and prevalence of stroke cases globally are significant drivers of the Stroke Diagnostics and Therapeutics Market. Factors such as aging populations, sedentary lifestyles, high blood pressure, diabetes, and obesity contribute to the growing burden of stroke-related healthcare needs. As per the Global Stroke Factsheet published by the World Health Organization, the lifetime risk of experiencing a stroke has risen by 50% in the past 17 years, with current estimates indicating that 1 in 4 individuals is likely to have a stroke during their lifetime.

Furthermore, as the aging population continues to expand, particularly in developed regions, the incidence of strokes and related complications is expected to rise. This drives the demand for effective stroke diagnostics and therapeutics, including rapid and accurate diagnostic tools, innovative treatment options, and comprehensive rehabilitation services. Additionally, initiatives aimed at raising awareness about stroke prevention, risk factors, and early symptoms contribute to early detection and prompt medical intervention.

Restraints

High Costs

One of the significant restraints in the Stroke Diagnostics and Therapeutics Market is the high costs associated with accessing services such as advanced diagnostic imaging technologies, therapeutic interventions, and rehabilitation. Advanced imaging modalities in particular require substantial capital for acquisition, installation, and maintenance. Additionally, the costs associated with specialized diagnostic tests, biomarker analysis, and genetic testing exacerbate the financial burden on healthcare providers and patients.

Similarly, innovative stroke treatments, including mechanical thrombectomy procedures, neuroprotective agents, and stem cell therapies, are often expensive due to research and development costs. Moreover, stroke rehabilitation programs involve physical therapy, occupational therapy, speech therapy, and cognitive rehabilitation, and thus tend to be costly. This becomes particularly challenging for those requiring long-term care and intensive rehabilitation. These high costs pose challenges in terms of affordability and accessibility of healthcare, particularly for economically burdened patients.

Opportunities

One of the significant opportunities in the Stroke Diagnostics and Therapeutics Market is the rapid expansion of telemedicine and telestroke services. Telemedicine platforms enable remote consultations, virtual evaluations, and real-time monitoring of stroke patients, thus facilitating timely interventions. This is crucial in achieving favorable outcomes for the patients. Telestroke networks connect medical professionals and experts such as healthcare providers and stroke specialists, thereby allowing for rapid assessment, diagnosis, and treatment of acute stroke cases, especially in underserved or rural areas with limited access to healthcare.

Another key opportunity in the Stroke Diagnostics and Therapeutics Market is the emergence of personalized treatment approaches and precision medicine. Advances in genetics, biomarkers, imaging technologies, and data analytics enable medical professionals to curate tailored treatment strategies based on factors like individual patient profiles, genetic markers, disease subtypes, and response patterns. Biomarkers such as blood proteins, genetic markers, and imaging biomarkers aid in early detection, prognostication, and treatment selection for stroke patients, leading to personalized treatment plans and improved clinical outcomes.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic conditions, such as economic growth rates, GDP per capita, and healthcare expenditure, impact the Stroke Diagnostics and Therapeutics Market. Strong economic growth and rising incomes often correlate with increased healthcare spending. These enable individuals and healthcare systems to invest in advanced diagnostic technologies, and rehabilitation services for stroke care. Countries with robust healthcare infrastructures, favorable reimbursement policies, and high levels of healthcare access often allocate significant resources to stroke prevention, early intervention, and comprehensive stroke care pathways, which drives the market demand for innovative solutions.

Conversely, economic downturns, recessions, or financial crises can lead to budget constraints, healthcare funding cuts, and delayed investments in healthcare infrastructure. This has a negative influence on market growth, adoption rates, and access to stroke diagnostics and therapeutics, especially in low- and middle-income countries or regions with limited healthcare resources.

Latest Trends

One of the latest trends in the Stroke Diagnostics Market is the increasing adoption of artificial intelligence (AI) and machine learning (ML) algorithms for stroke diagnosis and imaging analysis. AI-powered software platforms can analyze medical images, such as CT scans and MRIs, to detect subtle signs of strokes, identify ischemic areas, and differentiate between stroke subtypes with high accuracy. These AI algorithms aid radiologists and neurologists in interpreting complex imaging data, reducing interpretation times, and improving diagnostic accuracy.

The expansion of telemedicine and remote stroke care represents a significant trend in the Stroke Diagnostics and Therapeutics Market. Digital biomarkers and remote monitoring technologies are gaining prominence as trends in the Stroke Diagnostics and Therapeutics Market. These digital biomarkers enable continuous monitoring of stroke patients’ health status, early detection of complications or recurrence risks, and personalized intervention strategies based on real-time data analytics.

Regional Analysis

North America is leading the Stroke Diagnostics And Therapeutics Market

North America maintained its stronghold on the global Stroke Diagnostics And Therapeutics Market and secured a market share of 38.6% in 2023. In the United States, a stroke occurs every 40 seconds, and every 3 minutes and 14 seconds, someone dies from a stroke, as per the Center for Disease Control and Prevention. The growth of the North American region in the Stroke Diagnostics And Therapeutics Market can be attributed to several factors. There is an increased number of stroke patients in the United States and Canada, leading to a higher demand for diagnostic and therapeutic solutions.

Additionally, the rapidly growing elderly population in North American countries is becoming a major driver for the growth of the target industry in the region. Since stroke incidence tends to be higher among older individuals, the aging population contributes significantly to the market’s expansion in North America.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

The Asia Pacific region provides an encouraging climate for the growth of the Stroke Diagnostics And Therapeutics Market. Increasing patient awareness and rising healthcare expenditure are anticipated to fuel the growth of the Stroke Diagnostics And Therapeutics Market in countries across the Asia Pacific region, with a particular focus on China, Japan, and India.

Key Regions and Countries

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Key Players Analysis

The Stroke Diagnostics and Therapeutics Market is characterized by a competitive landscape with key players vying for market share through innovative products, strategic partnerships, and expansion into emerging markets. Companies specializing in imaging technologies hold a significant market share in stroke diagnostics. Diagnostic test manufacturers play a crucial role in stroke diagnostics. Pharmaceutical companies focus on developing and marketing stroke therapeutics, including clot-dissolving medications, neuroprotective agents, and novel therapies.

Companies differentiate themselves through technological advancements, product diversification, strategic collaborations, and market expansion strategies. Mergers and acquisitions, partnerships with healthcare providers, and investments in research and development are common strategies employed by players to strengthen their competitive position and capture market share.

Top Key Players

• Abbott Laboratories
• Cordis Corporation
• Boston Scientific Corporation
• Siemens AG
• Genentech, Inc.
• Koninklijke Philips N.V.
• Medtronic plc
• GE Healthcare
• Stryker Corporation
• Merck & Co. Inc
• Other Key Players

Recent Developments

• In November 2023, Swiss-based medical technology company MedAlliance was acquired by Cordis for $1.13 billion.
• In March 2024, Scivita Medical Technology Co., a medical device company, and Boston Scientific Corporation entered into an expanded strategic cooperation arrangement.

Report Scope