Demand for North America and Europe Stroke Diagnostics and Impact of COVID-19……..
The North
America and Europe stroke diagnostics market size is expected to reach USD 2.35 billion by 2024, according to
a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 6.2% over the forecast period.
Rising geriatric population in countries like U.S. and Germany has led to high
growth of the market. Geriatric population in U.S. is anticipated to rise to
around 98 million by 2060.
The most common concern for the governments of
all Covid-19 hit nations is the excruciating need to screen for and test large
numbers of patients for possible Sars-Cov-2 infection. As a result, most of
them are facing major shortages in the supply for diagnostic kits to test for
the virus. Diagnostics virology entities are under immense pressure to provide
reliable testing kits, and there is a surge in demand for in-vitro or
point-of-care testing capacities by labs across a large number of countries.
The report will account for Covid19 as a key market contributor.
Unhealthy lifestyle is another
significant factor driving demand for stroke diagnostic products. Unhealthy
lifestyles and physical inactivity are attributed to rising cases of diabetes,
obesity, and other such health conditions. According to the Centers for Disease
Control and Prevention (CDC) 2017 statistics, over 36% of U.S. population is
obese. Diabetes is also one of the prevalent health conditions in Europe. Thus,
increasing incidence of such disease conditions has propelled the market for
stroke diagnostics.
Rise in awareness among people
pertaining to stroke diagnosis and treatment is also expected to foster market
growth. In 2011, the Department of Health and Human Services in U.S. started
the Million Hearts program as an initiative to avert strokes by 2017. Building
on the experience of the first five years the program is committed to work
towards prevention of 1 million strokes. The program aims at taking steps to
prevent cardiovascular diseases, such as strokes and improving overall public
health. Such awareness programs undertaken by government are likely to boost
the market growth.
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Further key findings from the study suggest:
·
CT scan was the dominant
technology segment in 2016 due to its high usage rate for stroke evaluation and
is considered as a preliminary testing technique
·
Carotid ultrasound segment is
anticipated to showcase lucrative CAGR during the forecast period owing to the
advantages like noninvasive technique and cost-effectiveness
·
MRI segment held significant
revenue share in 2016 owing to innovations and advancements for improved
diagnosis
·
Cerebral angiography is
expected to exhibit lucrative growth during the forecast period owing to rising
adoption of minimally invasive diagnostic techniques
·
North America held the largest
market share in 2016 due to rise in unhealthy lifestyles leading to obesity and
diabetes, especially in U.S. Europe contributed to significant market share due
to increasing geriatric population in Germany
·
Some of the key manufacturers
in the North America and Europe stroke diagnostics market are Cordis
Corporation, Siemens Healthineers, GE Healthcare, Toshiba Medical Systems
Corporation, Boston Scientific Corporation, Hitachi Medical Systems, Neusoft
Medical Systems, and Philips Healthcare.
The North America and Europe stroke
diagnostics market size was valued at USD 1.46 billion in 2016. It is
anticipated to witness a CAGR of 6.2% during the forecast period. Stroke is
considered as one of the leading causes of mortality and physical disability in
North America and Europe. Growing geriatric population is anticipated to propel
need for rapid disease diagnosis. According to the Unite Nations (UN) data from
2015, 27% population in Germany is over 60 years of age. This number is
projected to grow by 39% by 2050.
Unhealthy
lifestyle habits have doubled the risk of stroke. Most notable causes are
obesity, physical inactivity, increased pressure at work and in life, and
excessive consumption of alcohol and tobacco. Unhealthy diet containing
saturated fats, trans-fats, and cholesterol are the noxious factors that can
lead to stroke. Prevalence of unhealthy lifestyle is likely to lead to such
diseases, which in turn, is expected to fuel market growth in near future.
Increased
awareness regarding early manifestations of stroke and its causes is
anticipated to positively influence market development over the forecast
period. Implementation of smoking cessation by U.S. government and other such
initiatives are anticipated to boost demand for stroke diagnostics in near
future.
Prevalence
of stroke is declining sharply in regions like U.S. France has reported the
lowest number of deaths caused by stroke among all the European nations,
representing 5.7%, compared to Germany at 6.5% and Italy at 9.7%, in 2013. This
drop is also attributed to smoking cessation and availability of better
treatment methods for hypertension.
Browse Press
Release of this report:
Grand View Research has segmented the North
America and Europe stroke diagnostics market on the basis of technology:
North America and Europe Stroke Diagnostics Technology
Outlook (Revenue, USD Million, 2013 - 2024)
·
Computed Tomography (CT) Scan
·
Magnetic Resonance Imaging
(MRI)
·
Carotid Ultrasound
·
Cerebral Angiography
·
Nuclear Imaging
·
Others
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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