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Stroke Diagnostics and Therapeutics Market Segmented By type such as Diagnostics and Therapeutics having application such as Ischemic stroke and Haemorrhagic stroke
Stroke refers to the brain attack. Stroke occurs when the supply of blood to the brain is either interrupted or reduced. In this condition, the brain does not get enough oxygen or nutrients which cause the brain cells to die. Increasing number of patients at risk of developing stroke is one of the major factors driving growth of the stroke diagnostics and therapeutics market.
According to the National Stroke Association, stroke is the fifth leading cause of death in America and a leading cause of adult disability. Stroke can happen to anyone anytime. The types of stroke include ischemic, hemorrhagic, and transient ischemic attacks (TIAs). 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.
The global stroke diagnostics and therapeutics market is categorized based on type and application. Based on type, the report covers diagnostics and therapeutics. The diagnostics segment is further segmented into: computed tomography scan (CT scan), magnetic resonance imaging (MRI), carotid ultrasound, cerebral angiography, electrocardiography, echocardiography, and others. The therapeutics segment is further divided into: tissue plasminogen activator, antihypertensive, antiplatelet, and anticoagulant. Based on application, the market is segmented into ischemic stroke and haemorrhagic stroke.
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 experience 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 growth in the stroke diagnostics and therapeutics market in Asia.
Technological advancement in diagnosis and surgical equipment, increasing number of patients with stroke, growing aging population, rise in healthcare expenditure, growing diabetic population, increasing number of patients with hypertension and coronary heart diseases, rise in awareness about the stroke and its available treatment options in the market, rise in R&D activities in drug discovery and development are the key drivers for the global stroke diagnostics and therapeutics market. However, high cost of treatment and unfavorable reimbursement scenario are some factors restraining the growth of the global stroke diagnostics and therapeutics market.
Increasing number of mergers and acquisitions, rapid product launches, and rise in number of collaborations and partnerships are some of the latest trends that have been observed in the global stroke diagnostics and therapeutics market.