Stroke Diagnostics Market Size to Hit USD 5.32 Bn By 2031

BURLINGAME, Calif., May 28, 2024 /PRNewswire/ -- According to Coherent Market Insights, the global stroke diagnostics market size is calculated at USD 3.08 billion in 2024 and is expected to be worth around USD 5.32 billion by 2031, growing at a CAGR of 8.1% from 2024 to 2031. The stroke diagnostics market is expected to grow significantly during the forecast period owing to rising incidence of stroke around the world.

Stroke Diagnostics Market Report Coverage

Market Dynamics:

The rising incidence of stroke around the world is a major factor driving the growth of the stroke diagnostics market. According to WHO, 15 million people suffer from stroke worldwide each year. Furthermore, advancements in diagnostic imaging technologies for stroke diagnosis are also boosting the market growth. Computed tomography (CT) scan and magnetic resonance imaging (MRI) have revolutionized stroke diagnosis by detecting occlusions and bleed with high accuracy. Moreover, rising consumer awareness about early diagnosis of stroke is another driver of the market.

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Market Trends:

Advanced imaging modalities such as CT scan, MRI, ultrasound, and positron emission tomography (PET) have gained widespread acceptance in stroke diagnosis in recent years. CT scan is predominantly used as the first-line imaging technique for acute stroke cases for detecting hemorrhage. Moreover, the ability of MRI to detect acute ischemic changes prior to infarction establishes it as a valuable secondary option in acute stroke evaluation.

Significant efforts are being made to develop specific and sensitive biomarkers that can aid early diagnosis and help distinguish between ischemic and hemorrhagic stroke. Some of the emerging biomarkers being explored for stroke diagnosis are S100 calcium binding protein B, glial fibrillary acidic protein, neuron-specific enolase, and myelin basic protein. Availability of such accurate biomarkers can transform stroke management.

Ischemic stroke accounts for nearly 87% of all stroke cases globally. Rising prevalence of cardiovascular diseases, obesity and diabetes are major risk factors driving the growth of ischemic strokes. Advancements in computed tomography (CT) and magnetic resonance imaging (MRI) technologies have enabled early detection and diagnosis of ischemic strokes. CT scans allow visualization of blood clots blocking arteries supplying blood to the brain. Similarly, MRI provides high resolution images to detect minute changes in the brain after an ischemic stroke. The ability of these imaging modalities to differentiate between ischemic and hemorrhagic strokes at an early stage is expected to support the growth of this segment during the forecast period.

Computerized tomography (CT) scan is the most widely used initial imaging test for diagnosis of acute stroke within the golden 3-hour window. CT scans provide rapid results within minutes and help determine if the stroke is caused by blockage of an artery or bleeding in the brain. Advances such as CT angiography allow visualization of blood vessels and arteries. Growing preference for CT scans as the preferred first-line diagnosis modality is expected to drive the computerized tomography segment. Meanwhile, improved MRI technologies with high resolution and ability to reveal microscopic changes are increasing the adoption of MRI for long-term stroke monitoring and research.

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Recent Developments:

In December 2023, Siemens Healthnieers, unveiled the cutting-edge NAEOTOM Alpha, a huge forward in diagnostic imaging.

In October 2023, Brainomix Ltd, and Nanoflex Robotics AG received a grant under the UKN Switzerland Bilateral: Collaborative R&D program.

Key Market Takeaways:

The global stroke diagnostics market is anticipated to witness a CAGR of 8.1% during the forecast period 2024-2031, driven by rising geriatric population, growing incidence of hypertension and diabetes leading to strokes. On the basis of stroke type, the ischemic stroke segment is expected to hold a dominant position, accounting for nearly 87% of all stroke cases globally. By imaging test type, the computerized tomography scan segment is expected to hold the leading market share owing to rapid results and ability to determine clot location within the golden 3-hour window for thrombolysis.

On the basis of end user, hospitals are likely to remain the major revenue generator due to availability of advanced imaging facilities and dedicated stroke units. Regionally, North America is expected to dominate the global stroke diagnostics market through the forecast period due to high awareness levels, availability of advanced healthcare facilities and presence of key market players. Some of the leading players operating in the stroke diagnostics market are Siemens Healthineers, GE Healthcare, Philips Healthcare, Canon Medical System Corporation, Hitachi Medical Systems, Fujifilm Medical System, Samsung Medison among others. Collaborations for development of innovative diagnostic solutions is a key focus area for market players.

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Market Segmentation

By Stroke Type:

• Ischemic Stroke
• Hemorrhagic Stroke
• Transient Ischemic Attack

By Imaging Test Type:

• Computerized Tomography (CT) Scan
• Magnetic Resonance Imaging (MRI)
• Carotid Ultrasound
• Positron Emission Tomography (PET)
• Others

By End User:

• Diagnostic Laboratories
• Hospitals
• Specialty Clinics
• Academic & Research Institutes
• Others

By Region:

• North America
  • U.S.
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Europe
  • Germany
  • U.K.
  • Spain
  • France
  • Italy
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Middle East & Africa
  • South Africa
  • GCC Countries
  • Rest of Middle East & Africa

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SOURCE Coherent Market Insights