Stroke Treatment Market is Predicted to Hit US$ 15 Bn by 2027

Transparency Market Research (TMR) has published a new report on the stroke treatment market for the forecast period of 2019–2027. According to the report, the global stroke treatment market was valued at ~US$ 8 Bn in 2018, and is projected to expand at a CAGR of 7% from 2019 to 2027 to Reach a Valuation of ~US$ 15 Bn.

Hospital Pharmacies to be Promising in Global Stroke Treatment Market

In terms of distribution channel, the global stroke treatment market has been categorized into hospital pharmacies, retail pharmacies, and online pharmacies.The hospital pharmacies segment held a major share of the global stroke treatment market in 2018. A surge in new cases of stroke across the world and patient preference for treatment in hospitals are likely to propel the segment during the forecast period.

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Rise in Prevalence of Stroke across the Globe to Drive Stroke Treatment Market

Rise in the prevalence of stroke, globally, is projected to drive the stroke treatment market during the forecast period.

According to WHO, approximately 33 million people across the world suffer from a stroke each year. Moreover, 70% of stroke and 87% of stroke-related disabilities and mortalities occur in low- and middle-income countries. Also, the incidence of stroke in low- and middle-income countries has more than doubled in the last four decades.

Stroke is the second-leading cause of mortality and third-leading cause of disability across the globe. Hence, rise in the prevalence and increase in burden of stroke is expected to drive the need of treatment and therapies among patients, which, in turn, is likely to accelerate the growth of the global stroke treatment market in the next few years.

Ischemic Type Dominated Stroke Treatment Market

In terms of type, the global stroke treatment market can be classified into ischemic and hemorrhagic stroke. The ischemic stroke segment dominated the global stroke treatment market in 2018, and the trend is projected to continue during the forecast period. According to the Centers for Disease Control and Prevention, approximately 87% of stroke incidences across the globe are ischemic strokes.

A study published by the Lancet Neurology in 2018 stated that, the rate of incidence of ischemic stroke in adults aged between 18 and 50 years is increasing substantially across the globe. This is expected to drive the segment during the forecast period.

Tissue Plasminogen Activator (tPA) Segment to Lead Stroke Treatment Market

In terms of drug class, the global stroke treatment market has been segmented into tissue plasminogen activators (tPA), anticoagulants, antiplatelets, anticonvulsants, and others. The tissue plasminogen activators (tPA) segment accounted for a majority of the market share in 2018. The ability of tPA to stimulate thrombolysis to form proteolytic enzyme plasmin, which, in turn, targets blood clot, is a major factor anticipated to propel the segment. This potent clot-busting drug is administered intravenously within three hours of stroke symptoms in patients.

The anticoagulants segment is anticipated to expand at a rapid CAGR during the forecast period, owing to the high consumption of anticoagulants for the treatment of stroke.

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Growth Strategies of Key Players

Key players operating in the global stroke treatment market are F. Hoffmann-La Roche (Genentech), Johnson & Johnson Services, Inc., Sanofi, Boehringer Ingelheim GmbH, Bristol-Myers Squibb Company, AstraZeneca, Amgen Inc., Biogen Inc., and Daiichi Sankyo Company, Limited.

These companies engage in research & development activities to develop novel products in order to expand their product offerings and customer base. For instance, in October 2018, Johnson & Johnson Services, Inc. received U.S. FDA approval for XARELTO (rivaroxaban). This drug is used to minimize the risk of cardiovascular (CV) events, including stroke, cardiovascular mortality, and myocardial infarction (MI), in individuals with chronic coronary artery disease (CAD). This product launch enabled the company to expand its product portfolio and strengthen position in the global stroke treatment market.