The stroke management market is expected to grow from US$ 33.48 billion in 2021 to US$ 55.37 billion by 2028; it is expected to grow at a CAGR of 7.5% from 2022 to 2031.
The increasing incidence of chronic diseases, including hypertension, hyperlipidemia, and diabetes, has contributed to the growth of the stroke management market. Hypertension is the leading risk factor for stroke as blood pressure higher than 140/90mmHg can damage the blood vessels that supply blood to the brain. Furthermore, diabetes is also a major cause of stroke. As per the American Stroke Association, people with diabetes have twice the chance of having a stroke, and may also witness the early onset of stroke. Further, within every two minutes, an adult with diabetes is hospitalized due to stroke in US, as per the same data. As a result, the market leaders are working to develop innovative treatments for stroke, and a wide variety of new drugs and devices are under investigation for treatment and diagnosis of all major types of strokes, and many of them are expected to receive approval in the near future. For instance, in September 2020, Johnson & Johnson announced the launch of Cerenovus Stroke Solutions, which consists of three devices that can assist physicians in removing clots. Furthermore, in August 2021, MicroTransponder Inc. received FDA approval for Vivistim System, a first-of-its-kind stroke rehabilitation system, for the treatment of moderate to severe upper extremity motor deficits associated with chronic ischemic stroke.
MARKET DYNAMICS
The growth of the stroke management market is majorly attributed to the increasing prevalence of chronic disorders, technological advancement in diagnosis & treatment of stroke, continuous increase in the number of tobacco users, and a rise in the geriatric population. However, slow drug approval and huge cost associated with procedures involved in the treatment and diagnosis of stroke are hampering the market growth.
MARKET SCOPE
The “Global Stroke Management Market Analysis to 2028” report aims to provide an overview of the stroke management market with detailed market segmentation. The report provides key market statistics based on the performances of the leading players. It also offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global stroke management market is bifurcated into type and application. Based on type, the market is divided into diagnostic and therapeutic. Based on application, the market is bifurcated into ischemic stroke and haemorrhagic stroke.
The global stroke management market is segmented into five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report covers analysis and forecast of 18 countries across the world along with trends and opportunities prevailing in the region.
North America dominated the stroke management market with ~37% share in 2021. The market growth in the region is majorly attributed to the presence of a huge population with chronic disorders along with the presence of leading market players such as Abbott Laboratories, B Braun Melsungen AG, Boston Scientific Corporation, Bristol Myers Squibb Co., Cardinal Health Inc., and General Electric Company. The below figure showcases the revenue growth trend in the North America stroke management market:
Source: The Insight Partners Analysis
The report analyzes factors, such as drivers, restraints, opportunities, and future trends, that impact the stroke management market. It also provides an exhaustive PEST analysis of the factors affecting the market.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic resulted in the increased demand for stroke management drugs such as Alteplase, Clopidogrel, and Atorvastatin as the prevalence of stroke increased due to the spread of SARS-CoV-2. This led to a high volume of orders among drug manufacturers, resulting in a higher production volume. As a result, the product profit of various drug component manufacturers increased. Thus, the procurement of drug components grew during the initial phase of the pandemic, thereby boosting the growth of the global stroke management market.
Rising awareness about stroke resulted in a sudden rise in the diagnostic rates of the disease, which ultimately increased the demand for stroke targeting drugs such as Ticagrelor, Alteplase, and Clopidogrel. The recombinant tissue plasmogen activators are the most effective treatment for ischemic stroke and are currently prescribed as first-line treatment. As a result, the procurement of recombinant tissue plasmogen activators has increased, which is bolstering the stroke management market.
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The report covers key developments in the stroke management market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, patents, and events. Inorganic growth strategies such as acquisitions, partnerships, and collaborations have encouraged the expansion of business and the customer base of market players. The market players operating in the stroke management market are anticipated to experience lucrative growth opportunities in the coming years with the rising demand for stroke treatments.
The report also includes the profiles of major stroke management companies, along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years. The list of a few companies engaged in the stroke management market is mentioned below:
- Abbott Laboratories
- 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.
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the current study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
The List of Companies
1. Abbott Laboratories
2. B Braun Melsungen AG
3. Boston Scientific Corp.
4. Bristol-Myers Squibb
5. Cardinal Health
6. Medtronic Plc.
7. GlaxoSmithKline Plc.
8. GE Healthcare
9. Merck
10. Koninklijke Philips N.V.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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