Research by the World Health Organization (WHO) states that around 17 million deaths have been noticed annually due to strokes. The higher mortality rate associated with strokes showcases an impending need for new and innovative drugs and diagnostic devices. As per the latest report released by Market Research Future (MRFR), the Global Ischemic Stroke Market Size is expected to attain a CAGR of approximately 7.8% during the forecast period between 2023 and 2032.
The Ischemic stroke market is a dynamic landscape shaped by various factors, including advancements in treatment options and the prevalence of risk factors such as transient ischemic attacks (TIAs). TIAs, often referred to as "mini-strokes," serve as crucial indicators of impending ischemic strokes, highlighting the importance of timely intervention and management strategies within the market. Healthcare providers and pharmaceutical companies within this market are increasingly focusing on addressing the needs of patients who have experienced TIAs to prevent the occurrence of debilitating ischemic strokes. As such, there is a growing emphasis on developing innovative diagnostic tools and therapeutic interventions tailored to the unique challenges posed by TIAs, aiming to reduce the overall burden of ischemic stroke on both patients and healthcare systems.
Furthermore, the recognition of TIAs as warning signs for more severe ischemic strokes has led to heightened awareness among both healthcare professionals and the general population. This increased awareness has driven efforts to enhance preventive measures and promote early detection and treatment of TIAs, thereby potentially reducing the incidence of ischemic strokes. Consequently, stakeholders within the Ischemic stroke market are continually investing in research and development endeavors focused on improving TIA management strategies, ultimately contributing to better patient outcomes and a more efficient healthcare ecosystem dedicated to combating ischemic strokes.
Competitive Landscape
The Global Ischemic Stroke Companies includes numerous prominent players like Stryker Corporation (U.S.), Johnson & Johnson (U.S.), Abbott Laboratories (U.S.), Genentech, Inc. (U.S.), Merck & Co., Inc. (U.S.), Sanofi (France), Bayer AG (Germany), Koninklijke Philips N.V. (Netherland), Boston Scientific Corporation (U.S.), Medtronic plc (U.S.), Siemens Healthcare (U.S.), Pfizer Inc. (U.S.), GE Healthcare (U.S.), Covidien PLC (Ireland), GE Healthcare (U.S.), Philips Healthcare (U.S.), Hitachi, Ltd (Japan), Boehringer Ingelheim (Germany), Penumbra, Inc. (U.S.), Cordis Corporation (U.S.), Daiichi Sankyo (U.S.), Biogen (U.S.), and others.
Market Segmentation
The Global Ischemic Stroke Market segmentation is based on key dynamics like drug class, diagnosis, end-users, and surgery.
- By drug class, the market segments into anticoagulant, tissue plasminogen activator, antihypertensive, antiplatelet, and others.
- By diagnosis, the market includes carotid ultrasound Computed Tomography (CT), echocardiography, cerebral angiography, Magnetic resonance imaging (MRI), electrocardiography, and others.
- By end-user, the market comprises of medical institutes, research organizations, hospitals & clinics, and others.
- By surgery, the market divides into endovascular mechanical thrombectomy, carotid endarterectomy, and angioplasty.
Regional Analysis
The Global Ischemic Stroke Market is geographically segmented into the following regions: Asia Pacific, America, Europe, and the Middle East and Africa.
The Americas is reported to be the largest market for ischemic stroke due to technological innovations, favorable government initiatives, and rising demand for ischemic stroke products.
Europe holds the second largest share of the market and is expected to hold on to the same in the forthcoming years due to numerous factors. Rising prevalence of acute ischemia stroke cases and advancements in the surgical device technology are two key factors driving the market herein. Other driving factors of the market in this region is the growing number of diabetes mellitus population primarily in the developed nations of Europe.
Asia Pacific is identified to witness the most promising growth in the forecast period to cement its place in the global ischemic stroke market. The proliferating growth of the region can be attributed to the widespread prevalence of stroke cases in the Asia Pacific region. Both China and India are two of the major contributors to the regional market and will play major roles in accelerating the overall Asia Pacific region. Manufacturers are quickly realizing the potential this region holds and are expanding their operations therein to capitalize on the same.
The Middle East region is anticipated to grow at a fast rate owing to factors like increasing emphasis on research and development activities in the healthcare sector and continuous development of the healthcare infrastructure.
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