Ischemic strokes occur as a result of an obstruction within a blood vessel supplying blood to the brain. The underlying condition of this type of obstruction is the development of fat deposits lining the vessel walls, which is known as atherosclerosis. According to the World Health Organization (WHO), stroke accounts for around 17 million deaths annually. As per the Centers for Disease Control and Prevention (CDC), stroke leads to 1 out of every 20 deaths costing around USD 34 billion each year in the U.S. Higher rates of mortality associated with strokes highlight an impending need for innovative drugs and diagnostic devices.
The key strategies adopted by leading industry players incldues new product launches and collaborations. For instance, in April 2016, the novel TransCarotid Artery Revascularization (TCAR) procedure launched by Silk Road Medical, Inc, received FDA approval. This minimally invasive technique is designed to access the common carotid artery. Moreover, in March, 2015, WATCHMAN, a closure device designed to prevent stroke in patients with atrial fibrillation received FDA approval.
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Rising cases of ischemia stroke are driving the demand for surgical procedures in stroke treatment. Increasing demand for minimally invasive procedures and advancements in surgical procedures are the key factors boosting the growth of the global ischemic stroke market. High cost of the surgical procedures and excessive usage of medication for the treatment of ischemic stroke are hindering the market growth.
The global market for ischemic stroke is expected to grow at a CAGR of approximately 8.3% during the forecast period 2017-2023.
Intended Audience:
- Ischemic Stroke Drug Suppliers
- Ischemic Stroke Drug Manufacturers
- Research and Development (R&D) Companies
- Medical Research Laboratories
- Academic Medical Institutes and Universities
Segmentation:
The ischemic stroke is segmented on the basis of diagnosis, drug class, surgery and end-users.
On the basis of the diagnosis, the market is segmented into Computed Tomography (CT), Magnetic resonance imaging (MRI), carotid ultrasound, cerebral angiography, electrocardiography, echocardiography, and others.
On the basis of the drug class, the market is segmented into tissue plasminogen activator, anticoagulant, antiplatelet, antihypertensive, and others
On the basis of the surgery, the market is segmented into carotid endarterectomy, angioplasty, and endovascular mechanical thrombectomy
On the basis of the end-user, the market is segmented into hospitals & clinics, medical institutes, research organization, and others.
Regional Analysis:
The global ischemic stroke market consists of countries namely America, Europe, Asia Pacific, and the Middle East and Africa.
The Americas has emerged as the largest market for the global ischemic stroke owing to the favorable government initiatives, technological innovations, and increasing demand for ischemic stroke products. According to the American Heart Association, ischemic stroke is among the top three causes of death in the U.S. and Canada, nearly 795,000 patients suffering from strokes are treated in the 2014.
Europe is the second largest global ischemic stroke market owing to the advancements in the surgical devices technology along with the rising occurrence of acute ischemia stroke cases among the patients. In the European Union, over 31 million people are living with diabetes aged between 20 and 79. This signifies an average diabetes prevalence rate of 8.6% of the adult population. Some other factors driving the market includes the growing percentage of diabetes mellitus population mainly in the developed countries of Europe
Asia Pacific is anticipated to unfold as the most promising market for the global ischemic stroke owing to increasing prevalence of stroke cases in this region. China and India are considered as a big market for ischemic stroke within the forecast period. Manufacturers are expanding their operations in Asia Pacific region as these regions hold immense potential for the market growth.
The Middle East region is expected to grow at a faster rate due to the factors such as the extensive development of healthcare infrastructure and growing emphasis on research and development in the healthcare sector.
Key Players:
The emergence of new and cost-effective medication options for the treatment of ischemic stroke could open up new opportunities to the new players in the global ischemic stroke market. Additionally, emerging markets, such as India and China, could also open new opportunities to new players.
Some of key the players in the Americas ischemic stroke market are Abbott Laboratories (U.S.), Medtronic plc (U.S.), Boston Scientific Corporation (U.S.), Cordis Corporation (U.S.), Koninklijke Philips N.V. (Netherland), GE Healthcare (U.S.), Stryker Corporation (U.S.), Genentech, Inc. (U.S.), Merck & Co., Inc. (U.S.), Bayer AG (Germany), Boehringer Ingelheim (Germany), Sanofi (France), Covidien plc (Ireland), Philips Healthcare (U.S.), Johnson & Johnson (U.S.), Penumbra, Inc. (U.S.), GE Healthcare (U.S.), Siemens Healthcare (U.S.), Hitachi, Ltd (Japan), Biogen (U.S.), Daiichi Sankyo (U.S.), Pfizer Inc. (U.S.), and others
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