Stroke diagnostics, therapeutics market to reach $31 billion by 2021
New research predicts the global market for stroke diagnosis and therapeutics will reach $31 billion by 2021—an increase from $21.5 billion in 2015, which represents a 7 percent compound annual growth rate.
A study from Zion Research found that the stroke diagnosis and therapeutics markets has undergone accelerated growth in recent years due to the large patient pool in conjunction with an aging population across the globe. Specifically, an increasingly geriatric population in Western countries, especially in Europe, is one key driving factor for fueling the growth.
According to the World Health Organization, strokes are responsible for approximately 17 million deaths annually. The Centers for Disease Control and Prevention estimates that this costs the U.S. $34 billion each year. This high cost of treatment directly impacts the growth of the stroke diagnosis and therapeutics market.
The global stroke diagnostics market is divided into five types: MRI, CT scan, electrocardiography, carotid ultrasound and cerebral angiography.
The therapeutics market is divided into four types: tissue plasminogen activator, antiplatelet, antihypertensive and anticoagulant.
In terms of geography, in 2015, North America was the leading market for stroke diagnostics and therapeutics market in terms of revenue followed by Europe due to the availability of advanced technologically and infrastructure. Moreover, the stroke diagnostics and therapeutics markets have opportunities for growth in emerging markets such as Latin America due to the large patient base, public awareness, increasing disposable income, government initiatives and healthcare infrastructure.