Technological Advancements Boost Global Acute Ischemic Stroke Diagnosis and Treatment Market to Expand at 6.30% CAGR
Transparency Market Research announces the release of a new research report titled “Acute Ischemic Stroke Diagnosis and Treatment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”. According to the report, driven by technological advancement, growing prevalence of strokes, and high success rate of treatment surgeries, the global acute ischemic stroke diagnosis and treatment market is likely to expand at a 6.30% CAGR from 2014 to 2020, growing from US$1.2 bn to US$1.9 bn during that time.
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Based on type of diagnosis, the acute ischemic stroke diagnosis and treatment market is divided into CT, nuclear imaging, cerebral angiography, MRI, ultrasound, and others. While high efficiency and effectiveness of CTs enabled them to dominate the overall market, this segment is anticipated to witness limited demand by 2020 owing to technological complexities and high cost of diagnosis.
On the basis of type of surgery, the acute ischemic stroke diagnosis and treatment market is segmented into carotid endarterectomy, endovascular mechanical thrombectomy, and angioplasty. While carotid endarterectomy dominated the overall market thanks to short treatment duration, high success rate, and easy availability, this segment is anticipated to lose market share over the next five years owing to high risk of side effects.
Geographically, the global acute ischemic stroke diagnosis and treatment market is divided into Asia Pacific, Europe, North America, and Rest of the World. Primarily driven by the rise in acute ischemic stroke surgeries and availability of technologically advanced medical equipment and devices, North America dominates the worldwide acute ischemic stroke diagnosis and treatment market. The American Heart Association states that every year, an estimated 795,000 patients are diagnosed with stroke in the US, a whopping 85.0% of which are identified as acute ischemic stroke. Seeing that the cost of treating strokes in the country surpasses US$73 bn per year, the North America acute ischemic stroke diagnosis and treatment market is anticipated to retain its lead through 2020.
Europe is the second largest market and is mainly fueled by a large population base of geriatrics. Identified as the most rapidly developing regional market for acute ischemic stroke diagnosis and treatment, Asia Pacific is driven by growing awareness among people, increasing number of global companies turning their focus to developing countries in APAC, expanding pool of potential patients, and rising investments in the region.
Some of the leading companies making a significant contribution towards the growth of the global acute ischemic stroke diagnosis and treatment market are Stryker Corporation, Abbott Laboratories, Hitachi, Ltd., Covidien plc, Siemens Healthcare, Penumbra, Inc., GE Healthcare, Philips Healthcare, and Johnson & Johnson.
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