STROKE DIAGNOSTICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Stroke Diagnostics Market Size and Trends

The stroke diagnostics market is estimated to be valued at USD 3.08 Bn in 2024 and is expected to reach USD 5.32 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.

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Increased investments from both public and private players to develop advanced diagnostic technologies are supplementing the market growth. The stroke diagnostics market is expected to witness a positive trend over the forecast period. This is attributed to factors such as the rising geriatric population susceptible to stroke, growing prevalence of cardiovascular diseases and diabetes mellitus, favorable reimbursement policies, and increasing adoption of imaging modalities for stroke diagnosis. However, the high cost of advanced devices and lack of skilled professionals in developing economies may hinder the market growth.

Rising geriatric population

The global geriatric population, aged 65 years and above, has been on a steady rise over the past few decades. Advances in medical technologies as well as improvement in standard of living in developed as well as developing countries have contributed significantly to improved life expectancy. However, aging also predisposes individuals to increased risks of various chronic diseases and health conditions. Stroke is one of the most common health conditions associated with advanced age, as risk of stroke doubles with every decade of life after 55 years of age. With continued improvement in life expectancy worldwide, the oldest old population segment, aged 80 years and above, considered as the high-risk group for stroke, is expected to grow rapidly in the coming years. This consistent growth of the geriatric demographic particularly in developed nations will drive greater demand for effective stroke diagnostics and monitoring solutions for timely diagnosis and treatment.

Rising prevalence of risk factors such as high blood pressure, obesity, diabetes, heart disease, and unhealthy lifestyle habits are significantly propelling the growth of the global stroke diagnostics market. These risk factors are becoming increasingly common around the world due to changing dietary patterns, lack of physical activity, increased stress levels and growing geriatric population. Moreover, the COVID-19 pandemic has further amplified these risk trends. Studies show that people with stroke history or risk factors like diabetes have higher chances of developing severe COVID-19. They also tend to have poorer outcomes. Prolonged stress of the pandemic along with limited mobility and access to healthcare has worsened disease management for many patients worldwide. This has boosted the demand for effective stroke screening and diagnosis solutions.