Stroke Post Processing Software Market

Stroke Post Processing Software Market Outlook (2022 to 2032)

As of 2021, revenues from the market for stroke post processing software totaled US$ 141 Mn. The industry is likely to experience a Y-o-Y expansion rate of 26% in 2022, reaching US$ 178 Mn. Globally, the market is forecast to reach US$ 417.53 Mn by 2032, growing at a CAGR of 8.9%.

Report Attributes	Details
Market Value as of 2021	US$ 141 Mn
Expected Market Value in 2022	US$ 178 Mn
Projected Market Value in 2032	US$ 417.53 Mn
Global Growth Rate (2022 to 2032)	8.9% CAGR
Market Share of North America	47%
Expected Growth Rate of Asia Pacific	9.3% CAGR
Proportion of Stroke Post Processing Software Usage in Hospitals & Clinics	76%
Key Providers of Stroke Post Processing Software	Siemens Healthineers; General Electric Company; Brainomix Limited; iSchemaView; Viz.ai Inc.

Increased penetration of artificial intelligence and other technological advancements has led to a broader uptake across key healthcare settings. Among all end users, hospitals & clinics will capture 76% of global revenues, while demand for mobile and tablet based software will incline at an 8.7% value CAGR until 2032.

2015 to 2021 Demand Analysis of Stroke Post Processing Software vs. Future Outlook 2022 to 2032

According to Fact.MR- a market research and competitive intelligence provider- sales of stroke post processing software experienced noteworthy growth, flourishing at a CAGR of 9.2% from 2015 to 2021. The market was valued at US$ 141 Mn by the end of the said historical period. Rapid technological advancements, especially in healthcare IT infrastructure, led to increased adoption.

During the COVID-19 pandemic, prospects for growth experienced a temporary and minor dent, as the bulk of all hospital based treatment was redirected towards caring for coronavirus infected patients. However, as time passed, the need for stroke post processing software elevated, as several COVID patients experienced strokes and other brain related complications.

As the healthcare industry continues to rely on technological advancements, penetration of artificial intelligence and machine learning is expected to become mainstream. This is anticipated to usher in more advanced approaches to detecting, diagnosing and treating stroke patients. This will compel service providers to introduce highly sophisticated stroke post processing software solutions. As per this report, the market is expected to grow 2.3x from 2022 to 2032.

Key Drivers Influencing Stroke Post Processing Software Uptake

The ever-increasing Global Burden of strikes Providing Growth Opportunities

According to the World Stroke Organization (WSO), from 1990 to 2019, the burden of strokes in an absolute number of cases increased substantially, with a 70% increase in incident strokes, 43% in terms of deaths, 102% prevalent strokes and 143% in terms of DALYs. The estimated global cost of stroke is over US$ 721 billion, or 0.66% of global GDP.

A majority of this global burden (86% in terms of deaths and 89% in terms of DALYs) is concentrated across the lower-income and lower-middle-income countries. Given these highly disturbing trends, it is unsurprising to know that the importance of providing advanced stroke care and management has heightened in recent years.

Both governments and healthcare organizations have left no stone unturned to ensure that good quality care is administered to stroke patients. This has led to enhanced deployment of stroke post processing software across both large and small-scale healthcare settings. A majority of these software solutions have been designed to cater to the needs of ischemic stroke patients, the most prevalent category of stroke.

Rapid Integration of Artificial Intelligence in Stroke Management Widening Prospects

The global healthcare industry is in the middle of an artificial intelligence revolution. With the rapid development of deep learning and machine learning algorithms in recent years, the application of AI in diagnosis, risk stratification, and therapeutic decision-making has become ever-more widespread. AI presents exciting opportunities to improve stroke care delivery.

In coming years, part of early-career stroke neurologists’ role will be to integrate AI and smart technology into stroke research and practice. The application of AI technology in the assessment of stroke risk can achieve favorable results. Previous research showed that AI algorithms can be used for early diagnosis of atrial fibrillation using normal sinus rhythm electrocardiographs, which allows for early intervention to reduce stroke risk.

The need for early detection, accurate diagnosis, and timely treatment has promoted the increasing application of AI in stroke care. AI systems can also help stroke neurologists identify patients with acute ischemic stroke due to large vessel occlusions. The RapidAI system has been proved to be an efficient tool in identifying candidates who can benefit from reperfusion therapy, such as endovascular therapy and intravenous recombinant tissue-type plasminogen activator.

Region-wise Analysis

What is keeping the North American Market in the Spotlight?

Increasing Burden of Different types of Strokes broadening prospects

According to the Centers for Disease Control and Prevention (CDC), every year more than 795,000 people in the U.S suffer from a stroke, with 610,000 patients experiencing them for the first time. Furthermore, nearly 25% of individuals have suffered from a stroke and recovered at least once in their lifetime. Also, nearly 9 out of 10 strokes are ischemic in nature.

Between 2014 and 2015, stroke-related costs in the U.S amounted to nearly US$ 46 billion, inclusive of costs related to healthcare services, medicines and missed days at work. The publication also reports that in 2009, 34% of the people hospitalized for strokes were below 65 years of age.

Attributed to these trends, demand for stroke post processing software to diagnose and treat strokes is increasing significantly across North America.

According to Fact.MR, a market share of 47% is expected across the continent throughout 2022 and beyond. Numerous healthcare giants, such as General Electric Corporation, offer state-of-the-art stroke post processing software solutions. In October 2021, the company collaborated with Circle Neurovascular Imaging to offer its FastStroke processing platform for more acute diagnosis.

How Lucrative are Growth Prospects likely to be in the Asia Pacific?

Advancements in Healthcare Infrastructure to Propel Growth Prospects

According to Fact.MR, the Asia Pacific market for stroke post processing software is forecast to flourish at a CAGR of 9.3% throughout the 2022 to 2032 assessment period. A rapidly expanding geriatric population is prompting healthcare providers across key countries to beef up existing infrastructure in order to improve patient outcomes, providing a fertile ground for stroke management.

At the Asia Pacific Consensus Forum on Stroke Management 2022, the need to produce a series of statements with accompanying goals, specific interventions and future research priorities were emphasized in the following areas: primary prevention, acute stroke, secondary prevention and organization of stroke services to name a few.

The conference further highlighted the need taking up responsibility to ensure that stroke incidents get minimized. This includes government, who are entrusted with legislating measures such as anti-tobacco advertising, developing and funding interventional programs; as well as professional and non-governmental organizations to develop targets in conjunction with governments. All these developments are leading to increased deployment of stroke post processing software.

Category-wise Insights

Which Installation Type is Making Major Inroads in the Global Market?

Desktop-mounted Stroke Post Processing Software to Remain Prominent

By installation, demand for desktop-mounted stroke post processing software is likely to remain prominent, accumulating over 62% market revenue in 2022. This popularity can be attributed to the fact that major healthcare settings require robust infrastructure to store and assimilate voluminous amounts of patient data.

At the same time, mobile and tablet based software is accumulating immense popularity, given the rising need for accessing data from remote locations. According to Fact.MR, mobile and tablet based stroke post processing software will likely incline at a CAGR of 8.7% through 2032.

By Modality, Which Segment is Likely to Capture the Dominant Share?

MRI-based Stroke Post Processing to Remain Popular

MRI-driven stroke post processing software is expected to account for the lions share in the global market. High degree of imaging accuracy is attributed as the primary growth driver of this segment. Studies suggest that MRI-based stroke detection guarantees an accuracy rate of 83%.

In addition, MRI based scanning offers a host of other advantages, including whole brain coverage with a standard scanner, non-exposure to harmful radiation and a relatively safe contrast. Fact.MR forecasts this segment to accumulate 71% of total revenue in the market.

Will Stroke Post Processing for Ischemic Strokes be the Chief Growth Driver?

Frequent Episodes of Brain Damage due to Disruption of Blood Supply Heightening Prospects

By type, stroke post processing software for ischemic strokes is anticipated to emerge as the largest revenue grosser, contributing 83% to the global market. Frequent episodes of brain damage due to blood supply disruption is prompting patients to seek treatment for ischemic strokes.

The Johns Hopkins University estimates that over 87% strokes are ischemic in nature, becoming the 2nd leading cause of deaths across the globe. Healthcare providers are thus investing in high grade CT and MRI scan apparatuses to address this issue.

Who is the Dominant End User of Stroke Post Processing Software?

Bulk of Stroke Post Processing Software to be deployed in Hospitals & Clinics

By end-use, hospitals & clinics are expected to contribute over 3/4th of the global market revenue, according to Fact.MR. Given the high incidence of hospitalization rates, demand across this segment is expected to grow prolifically in the forthcoming years.

Hospitals & clinics possess the required treatment and diagnosis infrastructure, including advanced imaging systems. As a result, key players are incorporating innovations designed to create commercial healthcare settings oriented stroke post processing software.

Competitive Landscape

The market for stroke post processing software appears highly consolidated, with the presence of a handful of service providers. There is a profound increase in R&D investments for deploying AI-based stroke management solutions, providing immense growth opportunities for key players. Some notable developments are as follows:

• In February 2019, iSchemaView introduced the RAPID ANGIO neuroimaging solution for the angiography suite. This software integrates iSchemaView’s RAPID software with syngo DynaCT Multiphase from Siemens Healthineers. The technology delivers a powerful imaging solution for acute stroke patients
• In August 2020, Stroke International Services Can Tho General Hospital (SIS) partnered with Siemens Healthineers to deploy the MAGNETOM Lumina 3T MRI System, which helps improve the ability to detect tumors, complex neurology scanning and whole-body scanning procedures.

Stroke Post Processing Software Market- Report Scope

Attribute	Details
Historical Data Available For	2015 to 2021
Projected Forecast Period	2022 to 2032
Market Analysis	US$ Mn for Value Units for Volume
Key Regions Covered	North America; Latin America; Europe; Asia Pacific; Middle East & Africa
Key Segments Covered	Installation, Modality, Software Type, End Use, Region
Key Countries Profiled	U.S, Canada, Brazil, Mexico, Germany, France, U.K, Italy, BENELUX, Nordics, China, Japan, South Korea, GCC, South Africa, Turkey

Key Segments Covered in the Stroke Processing Industry Study

• By Installation:

  • Desktop-based Stroke Post Processing Software
  • Mobile Phones & Tablet-based Stroke Post Processing Software

• By Modality:

  • CT Scan-based Stroke Post Processing Software
  • MRI-based Stroke Post Processing Software

• By Software Type:

  • Stroke Post Processing Software for Ischemic Stroke
  • Stroke Post Processing Software for Hemorrhagic Stroke
  • Stroke Post Processing Software for Other Diseases

• By End Use:

  • Stroke Post Processing Software for Hospitals & Clinics
  • Stroke Post Processing Software for Specialty Centers & Others