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Cerebrovascular Imaging Market Segmented By technology such as Cerebral angiography, Carotid ultrasound, Magnetic Resonance Imaging, Computed tomography, Electroencephalogram (EEG) and Magnetic Resonance Angiogram (MRA)
Cerebrovascular imaging systems are devices used to detect the cerebrovascular diseases such as stroke and vascular malformation. There are a number of imaging modalities available for the evaluation of cerebrovascular diseases. Some of these include magnetic resonance imaging, computed tomography, cerebral angiography, etc.
Each of these imaging modalities have its own advantages and disadvantages. While choosing the imaging modality for diagnosis, patient specific factors along with modality specific considerations should be taken into account. For example, factors such as extreme claustrophobia or presence of certain metal or cardiac devices within the patient may preclude the patients from undergoing MRI assessment.
Technological advancements coupled with growing prevalence of cerebrovascular diseases is expected to boost the growth of the cerebrovascular imaging market. In 2018, the U.S. FDA approved iSchemaView’s three-dimensional imaging solution for computed tomography angiography (Rapid CTA) in order to facilitate clinical decision making for cerebrovascular disease including stroke.
The outbreak of COVID-19 rather had a negative impact on the cerebrovascular imaging market. The outbreak led to a large number of potential patients either postponing their hospital visits or cancelling it in order to avoid coming in contact with the corona virus. The world-wide lockdowns have also led to a setback in the overall revenue growth of the cerebrovascular imaging market.
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The rise in prevalence of cerebrovascular diseases is expected to drive the growth of the cerebrovascular imaging market during the forecast period. According to CDC’s 2020 estimates, more than 795,000 people in the U.S. have a stroke every year. Thus, the rise in prevalence of stroke is expected to lead the cerebrovascular imaging market towards considerable growth.
Additionally, rise in geriatric population that is more susceptible to develop cerebrovascular diseases is another factor driving the growth of the cerebrovascular imaging market. Technological advancements and increasing demand for minimally invasive diagnosis and treatment over conventional invasive techniques is also expected to lead the cerebrovascular imaging market towards significant growth.
On the other hand, strict government regulations is expected to restrict the growth of the cerebrovascular imaging market. Moreover, the availability of low cost alternatives may also restrain the growth of the cerebrovascular imaging market.
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Computed tomography and magnetic resonance imaging is expected to contribute the highest revenue growth in the cerebrovascular imaging market. This is due to the efficient results these imaging technologies provide.
Stroke is the most predominant condition for which cerebrovascular imaging is used and is expected to the most dominant application in terms of market revenue. While hospitals hold the higher market share diagnostic imaging centers are expected to lead in terms of growth rate.
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The North America is expected to dominate the cerebrovascular imaging market. This is attributed towards the rising demand for cerebrovascular imaging to detect various cerebrovascular diseases. The availability of developed healthcare infrastructure is another factor contributing towards the growth of the cerebrovascular imaging market.
South and East Asia is expected to experience highest growth in the cerebrovascular imaging market during the forecast period. Rise in favorable government initiatives, increase in awareness in developing countries regarding cerebrovascular diseases along with large patient pool are factors leading to the growth of cerebrovascular imaging market in this region.
Some of the players identified in the Cerebrovascular Imaging Market include GE Healthcare, Siemens Healthcare GmbH, Toshiba medical Systems Corporation, Hitachi Medical Systems, Samsung Medison Co., Ltd., Koninklijke Philips N.V., Shimadzu Corporation, Carestream Health, Fujifilm Holdings and Esaote.
