Global ischemic stroke market is witnessing a constant rise in its revenues. Market growth majorly attributes to the growing cases of ischemic stroke and diabetes mellitus, driving the demand for surgical procedures. Rising demand for minimally invasive treatments and advancements in surgical procedures is the key driving force behind the market growth. Moreover, increasing government initiatives and funding support escalate the growth of the market to furthered height.
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According to Market Research Future (MRFR), the global ischemic stroke market is projected to grow at approximately 8.3% CAGR during the assessment period (2017 – 2023). Regulatory initiatives such as the FDA Fast Track program, which is designed to facilitate the development, and expedite the review of drugs, influence the market growth, driving the product launches rapidly. Fast Track designation aims to get new essential medicines to treat and fill unmet medical needs, addressing a broad range of serious conditions.
COVID-19 has brought a radical sea change in the healthcare industry. The pandemic is expected to act as a severe risk factor for ischemic stroke. A new study recently published in the American Journal of Neuroradiology suggests that COVID-19 would amplify acute ischemic stroke conditions. Coronavirus crises are further anticipated to push market growth further. Additionally, factors such as favorable reimbursement policies and ongoing product development & commercialization boost market growth significantly.
On the other hand, high procedural costs and excessive usages of medication are significant factors projected to impede the growth of the ischemic stroke market. Also, reported cases of side effects of drugs, injuries, and infections are likely to present challenges to the market growth during the forecast period. Nevertheless, R&D investments and initiatives by the key market players for the development of new devices, breakthrough drugs, and therapeutics to manage the condition would support the market growth throughout the anticipated period.
Ischemic Stroke Market – Segments
The market is segmented into five dynamics;
By Diagnosis : Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Carotid Ultrasound, Cerebral Angiography, Electrocardiography, Echocardiography, and others.
By Drug Class : Tissue Plasminogen Activator, Anticoagulant, Antiplatelet, Antihypertensive, and others.
By Surgery : Carotid Endarterectomy, Angioplasty, Endovascular Mechanical Thrombectomy, and others.
By End-Users : Hospitals & Clinics, Medical Institutes, Research Organization, and others.
By Regions : Europe, Americas, Asia Pacific, and Rest-of-the-World.
Global Ischemic Stroke Market – Regional Analysis
North America dominates the global ischemic stroke market. The largest market share attributes to the growing prevalence of ischemic strokes and increasing demand to manage the condition. Besides, the increasing discoveries of technologically advanced ischemic stroke management programs contribute to the market growth in the region.
Moreover, the high healthcare expenditures and funding support by the governments for the development of healthcare infrastructure drive the regional market growth. The North American ischemic stroke market is projected to retain its dominance throughout the assessment period.
Europe stands second in the global ischemic stroke market in terms of the market share. The market is predominantly driven by the rising cases of acute ischemia stroke and diabetes mellitus among demographics. Technological advances in medical devices, alongside the availability of futuristic treatment facilities and rising per capita healthcare expenses, boost market growth.
Germany and the UK, with the high rates of ischemic stroke, lead the regional market exponentially. The European ischemic stroke market is expected to grow at a healthy CAGR during the forecast period.
The Asia Pacific ischemic stroke market is growing rapidly. With its large unmet clinical needs, the region attracts foreign investments, demonstrating the immense potential for market growth. Besides, factors such as the increasing prevalence of the condition and the availability of new treatment methods foster regional market growth.
Moreover, the growing population that is increasingly gaining awareness towards good health drives the regional market. Additionally, the increasing healthcare expenses and substantial funding support from public and private sectors further push the regional market growth. The APAC ischemic stroke market is estimated to create a considerable revenue pocket during the review period.
Ischemic Stroke Market – Competitive Landscape
Highly competitive, the ischemic stroke market appears fragmented due to the presence of several well-established players. To gain a larger competitive share in the market, industry players incorporate strategic initiatives such as partnerships, mergers & acquisitions, collaborations, expansion, and technology launch.
Players leading the global ischemic stroke market include Medtronic plc (US), Abbott Laboratories (US), Boston Scientific Corporation (US), Koninklijke Philips N.V. (Netherland), Cordis Corporation (US), GE Healthcare (US), Genentech, Inc. (US), Stryker Corporation (US), Merck & Co., Inc. (US), Boehringer Ingelheim (Germany), Bayer AG (Germany), Sanofi (France), Philips Healthcare (US), Covidien plc (Ireland), Johnson & Johnson (US), GE Healthcare (US), Penumbra, Inc. (US), Siemens Healthcare (US), Biogen (US), Hitachi, Ltd (Japan), Daiichi Sankyo (US), and Pfizer Inc. (US), among others.
June 12, 2020 — ZZ Biotech, LLC (the US), a clinical-stage company, announced that its experimental drug 3K3A-APC has received the US FDA fast track designation for stroke program. ZZ Biotech develops innovative biologic treatments for ischemic stroke and other neurological diseases and wound healing applications. 3K3A-APC is a genetically engineered variant of naturally occurring activated protein C, which plays a role in regulating blood clotting and inflammation, which can be used to treat acute ischemic stroke a Fast Track development program.
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