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Brain stroke can be defined as a neurovascular disease that occurs owing to rising blood clots. Basically, during the stroke, the supply of blood to the brain gets reduced, interrupted, and hemorrhagic, leading to low supply of oxygen or nutrients which increases the death of brain cells. Hemorrhagic and ischemic strokes require different treatment depending on their diagnosis whereas the ischemic strokes occurs when arteries get blocked or narrowed. Treatment for this deals with drugs that help in clearing the clots by preventing others from the formation. Additionally, hemorrhagic strokes occur after the leaking of blood into the brain, influencing the treatment to be focused on controlling bleeding, reducing pressure on the brain, and preventing the construction of blood vessels. Moreover, the vascular diseases get affected which influences the regular functioning of the veins and arteries that helps in the proper functioning of the circulatory system of a human body associated with blockage or rupture. Aneurysm is formed by raptures forming infrequent bulge or ballooning in blood vessels. The ruptured brain can also lead to reduced blood flow to brain known as cerebral vasospasm, rise in spinal fluid in brain called as hydrocephalus, coma, and permanent brain damage which is boosting the growth of the market.
Key Market Driver -
Rise in neurological disorders.
Key Market Restraint -
Stringent regulations and high cost of the equipment.
Rise in the geriatric population & chronic diseases, increase in neurological disorders, etc. are the major factors that are driving the growth of the market during the forecast period. Furthermore, various symptoms like drowsiness, dilated pupils, blurred vision, losing balance while walking, paralysis, and neck stiffness, are also propelling the market growth. In addition to this, unhealthy diet, an increase in consumption of alcohol, rise in smoking, and increased diabetic population, are also influencing the market growth in the near future. According to BMC Neurology studies, it is estimated that 50.3% of total 3000 populations where peripheral neuropathy accounted for 46.2%, chronic headaches estimated to be 26.4%, epilepsy 8.5%, stroke accounted to be 6.6% and tremors/Parkinson disease held 3.8%. Moreover, technological advancements coupled with research and development activities by manufacturers to develop new advanced technological devices and drugs for better treatment of patients suffering from strokes is also propelling the growth of the market during the forecast period. Similarly, increasing initiatives by the government such as the American Heart Association, CDC, WHO to create awareness among the people is also focusing on market growth.
However, the dearth of skilled professionals, lack of technology adoption and penetration, stringent regulations associated with approvals for new product for the treatment, high cost of treatment, etc. are restraining the growth of the market during the forecast period.
Globally, the brain stroke market is segmented on basis of type, applications, and region. Based on the type, the market is segmented into Brain Aneurysm, Hemorrhagic strokes, and ischemic strokes. Based on the end users, the market is segmented into hospitals, specialty clinics, ASCs, and others.
Geographically, the brain stroke market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The major companies in the global brain stroke market are Medtronic, Stryker, Johnson & Johnson Services, Inc., Abbott, Siemens Healthcare Private Limited, GENERAL ELECTRIC COMPANY, and others.
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Geographically, the Brain Stroke market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America is dominating the market owing to rise in the number of neurological disorders, huge investment in the healthcare industry, and the quick adoption of technology. Europe is the second-largest contributor to the market owing to an increase in health awareness, increased capita income expenditure, increased healthcare infrastructure. Asia Pacific is anticipated to experience vast growth in the market owing to rise in geriatric population, an increase in healthcare awareness, and an increase in government initiatives towards the healthcare sector, and an increase in the number of research activities. Latin America and Middle East are also anticipated to experience lucrative growth in the market.
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