North America and Europe Stroke Diagnostics Market Outlook 2031:
The North America and Europe stroke diagnostics market size was valued at USD 2.09 Billion in 2022 and is projected to reach USD 3.59 Billion by 2031, expanding at a CAGR of 6.2% during the forecast period 2023 - 2031. The growth of the market is accredited to the increasing geriatric population and rising occurrence of stroke among this population group in these regions.
Stroke, a severe health disorder, is primarily caused when the blood circulation of brain is interrupted. This condition has often prevented brain tissue from getting nutrients and oxygen supply from the blood, which results in causing stroke due to damage to the brain as the cells begin to collapse in minutes. Stroke is a serious medical condition that requires instant and spot treatment to regulate the re-functioning of the blood circulation to the brain.
Prompt action and timely intervention from relatives or family members to the patient can reduce serious complications and brain damage. Unhealthy lifestyle due to some reasons such as lack of physical activity, increased pressure at work and in personal life, excessive consumption of alcohol and tobacco, and growing risk of obesity are major factors for higher risk of stroke. High consumption of diets containing trans-fats, cholesterol, and saturated fats are other crucial factors that increase the risk for stroke.
Some of the common symptoms of stroke include trouble in speaking, problem of cognitive understanding, and incapable of walking. When stroke occurs, the patient is likely to experience paralysis and numbness especially in arm, leg, and on the face.
This condition is widely treated by using technology such as studying images of scan and doing physical tests. Scans are obtained by using different scanning techniques such as magnetic resonance imaging (MRI), carotid ultrasound, cerebral angiography, nuclear imaging, and computed tomography (CT) scan.
With the growing concerns, several governments especially in these two regions have started implementing policies and initiatives to increasing awareness about the disorder and its benefits for early symptoms of stroke. Since the pressure for stroke preventive actions increase, the US government has formulated to policies to strengthen rules and regulations related to smoking and others.
Stroke Diagnostics Market Trends, Drivers, Restraints, and Opportunities
- Prevalence of sedentary lifestyle, increasing cases of stroke, and other related diseases are expected to lead the market growth in the coming years.
- Increasing awareness regarding the benefits for early symptoms of stroke and the presence of large number of health-conscious population in these regions are key factors driving the market growth.
- Rising investment on healthcare infrastructure from governmental and other private organizations to establish a wide range of effective stroke diagnostic devices are expected to boost demand for stroke diagnostics in the coming years.
- Growing adaption of new technology and increasing technology developments for treatment and surgical equipment are expected to propel the overall market growth during the forecast period.
- Lack of proper reimbursement system and high cost of treatment of stroke in several countries are projected to restrain the market growth.
Scope of the Stroke Diagnostics Market Report
The report on the North America and Europe stroke diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
North America and Europe Stroke Diagnostics Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Technology (CT Scan, MRI, Carotid Ultrasound, Nuclear Imaging, Cerebral Angiography, and Others)
North America and Europe
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Siemens Healthineers; Hitachi Medical Systems; Cordis Corporation; Boston Scientific Corporation; Neusoft Medical Systems Corporation Ltd.; GE Healthcare; Philips Healthcare; and Toshiba Medical Systems Corporation.
Stroke Diagnostics Market Segment Insights
CT scan segment is expected to expand at a rapid pace
Based on technology, the North America and Europe stroke diagnostics market is divided into CT scan, MRI, carotid ultrasound, nuclear imaging, and cerebral angiography. The computed tomography or CT scan segment is expected to expand at a rapid pace in the market during the forecast period owing to availability of accurate results and noninvasive diagnostic techniques.
However, the carotid ultrasound segment is anticipated to account for a key market share during the forecast period due to increased usage owing to attributed to its movability, which makes it a primary equipment for prompt medical services. Minimal perniciousness and inexpensiveness are key two factors that are also expected to contribute in the segment growth in the coming years.
North America is anticipated to constitute a key market share
In terms of regions, the North America and Europe stroke diagnostics market is classified as North America and Europe. North America is anticipated to constitute a key market share in the coming years due to early adoption of innovative technology for medical equipment especially diagnostic kits and presence of key global players in the region.
Rising concerns related to unhealthy lifestyle that lead to the increasing number of diabetes and obese population especially in the US present crucial drivers for the regional market growth. On the other hand, the market of the Europe is projected to expand at a rapid growth rate in the coming years owing to rising occurrence of stroke among the aging population and the presence of high number of health-conscious people in the region.
The North America and Europe stroke diagnostics market has been segmented on the basis of
- Computed Tomography (CT) Scan
- Magnetic Resonance Imaging (MRI)
- Carotid Ultrasound
- Cerebral Angiography
- Nuclear Imaging
Key players competing in the North America and Europe stroke diagnostics market are Siemens Healthineers; Hitachi Medical Systems; Cordis Corporation; Boston Scientific Corporation; Neusoft Medical Systems Corporation Ltd.; GE Healthcare; Philips Healthcare; and Toshiba Medical Systems Corporation.
Some of companies are focusing in strategic development initiatives such as regional expansions, mergers, and acquisitions. For instance, Medcom GmbH announced in March 2016 that it entered into a collaboration with Hitachi Medical Systems in Europe with a view to focus on new product developments.