Stroke Management Market Analysis | 2022-2028

Market Insights

The Stroke Management Market was estimated at US$ 32.9 billion in 2021 and is expected to grow at a CAGR of 7.01% during 2022-2028 to reach US$ 56.40 billion in 2028.

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What is stroke management?

Stroke management encompasses comprehensive care and interventions for individuals who have suffered a sudden disruption of blood supply to the brain. The primary objectives involve minimizing brain damage, reinstating blood flow, and preventing future strokes. Immediate medical attention during acute management often includes thrombolytic therapy or mechanical clot retrieval. Following this, rehabilitation plays a pivotal role in addressing physical, cognitive, and emotional impairments. Long-term management incorporates medications, lifestyle adjustments, and controlling risk factors. Collaborative efforts from multidisciplinary teams, comprising neurologists, physical therapists, and speech therapists, aim to optimize recovery and improve the overall quality of life for the patient.

Market Dynamics

The rise in the elderly population and the frequency of chronic disorders like diabetes, hypertension, and hyperlipidemia, as well as technical developments in stroke detection and treatment, are driving the growth of the stroke management market. However, the market expansion is being hampered by the lengthy drug approval process and the high cost of the procedures used in stroke treatment and diagnostics.

One of the elements affecting the expansion of the market is technological innovation. The market for stroke management has significant potential due to the growing use of the MicroTransponder Vivistim Paired VNS System (Vivistim System), which is the first drug-free treatment for stroke to receive FDA approval. Additionally, growing public knowledge of stroke causes a sharp increase in the disease's diagnosis rates, which in turn drives up the demand for medications that target the condition. Recombinant tissue plasmogen activators, which are generally recommended as first-line therapy, were found to be the most successful treatment for ischemic stroke.

Covid-19 Impact

The pandemic has had a minor detrimental influence on the stroke management market. Due to hospital avoidance of stroke patients and appeals to stay at home, emergency department visits for stroke management in Italy declined by about 28% in March 2020. However, there is a substantial risk of COVID-19 infection for patients with cerebrovascular and neurovascular illnesses. As a result, it is anticipated that in the next years, the adoption rate of stroke control devices will increase dramatically.

Several investments/guidelines in the industry have been directed in recent years, which would boost the overall market. Some of them are:

• Because blood pressure of more than 140/90mmHg can harm the blood arteries supplying the brain with oxygen-rich blood, hypertension is the main risk factor for stroke. Additionally, hyperglycemia is a significant risk factor for stroke. People with diabetes have a twice as high risk of having a stroke and may also experience an early beginning of the stroke, according to the American Stroke Association. According to the same data, an adult with diabetes is hospitalized in the US for a stroke every two minutes. As a result, there is a steady rise in the need for stroke drugs, which is projected to continue in the years to come.

Segments Analysis

By Type

The market is bifurcated into ischemic, and hemorrhagic. In 2021, the ischemic sector accounted for the largest market share for stroke management. The World Stroke Organization estimates that 60% of new ischemic stroke cases worldwide occur in people under the age of 70. In addition, several industry titans are working on developing ischemic stroke treatment devices.in May 2019, a revascularization device called Solitaire X was introduced by Medtronic to treat acute ischemic stroke.

By Product Type

The stroke management market has been divided into diagnostic devices and therapeutic devices. The diagnostic devices are segmented into magnetic resonance imaging, computed tomography scan, electrocardiography, carotid ultrasound, cerebral angiography, and others. The therapeutic devices segment is classified into stent retrievers, surgical clips, embolic coils, flow diverters, aspiration catheters, and others. Through 2028, the stroke management market's diagnostic devices sector is expected to experience rapid expansion. The computed tomography scan (CT scan) accounted for the biggest revenue share among diagnostic instruments in 2021. Early disease diagnosis is aided by a CT scan. Therefore, it is anticipated that segment growth will be boosted during the projection period by ongoing improvements in CT scanners for better visibility.

Regional Analysis

The stroke management market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Due to the rising incidence of cardiac illnesses, North America held the biggest revenue share in the global market for stroke management in 2021. According to the Centers for Disease Control and Prevention, stroke affects more than 795,000 Americans annually. Additional risk factors for stroke include the rising prevalence of obesity, a changing lifestyle, and poor dietary practices. High spending capacity and increased R&D will also have a good effect on regional growth.

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Key Players

The following are the major players in the stroke management market:

• Abbott
• B Braun Melsungen AG
• Boston Scientific Corporation
• Bristol Myers Squibb Co.
• Cardinal Health Inc.
• General Electric Company
• Glaxosmithkline Plc
• Medtronic Plc
• Merck and Co. Inc.
• Siemens AG

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Recent Product Development

There are high levels of competition in the stroke management market. The market's leading players are concentrated on creating top-notch products to sustain in the industry. For example:

• In October 2022, Medtronic plc, a leader in healthcare technology, received FDA approval for expanded labeling of a cardiac lead that uses the heart's natural electrical system to deliver therapy to patients while preventing complications like cardiomyopathy sometimes associated with conventional pacing techniques. This method, also known as conduction system pacing, makes sure that pacing closely resembles the heart's natural contractions and enables the ventricles to cooperate.
• In September 2020, Johnson & Johnson announced the introduction of Cerenovus Stroke Solutions, which consists of a trio of devices to help doctors perform clot removal treatments. The company was able to increase revenue and strengthen its portfolio of stroke management products as a result of this product introduction.
• In May 2019, Solitaire X, a revascularization device designed to treat people with acute ischemic stroke, was introduced by the US-Irish medical device manufacturer Medtronic. The technology can mechanically remove blood clots from brain vessel blockages. When a major vessel is blocked and a patient has an acute ischemic stroke, this helps to restore blood flow. The fourth version of the company's product is Solitaire X. Along with the technological capabilities of its previous revascularization devices, it is outfitted with an optimized delivery system to increase efficiency.
•  In January 2019, the Vercise Primary Cell (PC) and Vercise Gevia Deep Brain Stimulation (DBS) Systems with the Vercise Cartesia Directional Lead were introduced by Boston Scientific Corporation. The new systems, which the U.S. Food and Drug Administration (FDA) recently approved, include technology that enables doctors to regulate the intensity, shape, position, and direction of electrical stimulation to treat Parkinson's disease (PD) symptoms through highly individualized therapy.
• In June 2018, the SOFIA Catheter (Soft Torqueable catheter For Intracranial Access) received FDA clearance for a new clinical indication that includes contact aspiration technique for successful revascularization in patients with acute ischemic stroke caused by intracranial large vessel occlusive disease, according to MicroVention Inc., a global neurovascular company with U.S. headquarters and a subsidiary of Terumo.