Telestroke Services Market Size Worth $4.67223 Million by 2028 to Rise at a Stellar CAGR of 20.2% by 2028 | Exclusive Report By The Insight Partners

Telestroke Services Market is expected to grow from US$ 1,546.79 Million in 2022 to US$ 4,672.23 Million by 2028; it is estimated to grow at a CAGR of 20.2% from 2022 to 2028

New York, July 12, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Telestroke Services Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, End User, and Geography,” the report highlights trends prevailing in the market and factors driving its growth. The telestroke services market growth is attributed to the rising prevalence of stroke cases and the surging volume of patients suffering from cardiac disorders. However, unawareness of strokes might hinder the market growth.

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Telestroke Services Market Report Scope & Strategic Insights:

Report Coverage
Market Size Value inUS$ 1,546.79 Million in 2022
Market Size Value byUS$ 4,672.23 Million by 2028
Growth rateCAGR of 20.2% from 2022 to 2028
Forecast Period2022-2028
Base Year2022
No. of Pages146
No. Tables58
No. of Charts & Figures71
Historical data availableYes
Segments coveredType, and End User
Regional scopeNorth America; Europe; Asia Pacific; Latin America; MEA
Country scopeUS, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends

Telestroke Services Market: Competitive Landscape and Key Developments

Providence Health & Services; Nebraska Medicine.; Lakewood Health System; Medical University of South Carolina; Granville Health System; Vidyo, Inc; Eagle Telemedicine; Avizia; Partners TeleStroke Center; Blue Sky Telehealth. are among the leading companies in the telestroke services market. The market is anticipated to flourish with the development of new innovative products by market players.

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In February 2021, Providence earned The Joint Commission's Gold Seal of Approval and the American Stroke Association's Heart-Check mark for its Primary Stroke Center's Certification. The company recently underwent a rigorous, onsite review by a team of Joint Commission reviewers who evaluated compliance with related certification standards, including program management, supporting self-management and delivering and facilitating clinical care.

In August 2020, Lakewood Health System received the American Heart Association/ American Stroke Association's "Get With The Guidelines-Stroke Gold Plus Quality Achievement" award. The award recognizes the hospital's commitment to ensuring that stroke patient receives the most appropriate treatment according to nationally recognized, research-based guidelines based on the latest scientific evidence.

Asia Pacific is expected to witness the highest growth in the telestroke services market, and China holds the largest share of the regional market, followed by Japan. The telestroke services market growth in China is ascribed to the increase in noncommunicable diseases such as cardiovascular disorders and diabetes, which has contributed to the rising prevalence of stroke cases. According to the Chronic and Noncommunicable Disease Prevention and Control Center of the Chinese Center for Disease and Prevention, ~33% of adults received diagnoses of hypertension, and ~9.5% had diabetes.

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Rising Instances of Stroke Cases Worldwide Fueling Telestroke Services Market Growth

Stroke is one of the leading causes of death and disability worldwide. In 2016, the World Health Organization ranked stroke as the second leading cause of death. Stroke is a leading concern for public health with serious economic and social consequences. The public health burden of stroke will increase in the coming decades due to changing demographics, particularly in developing countries. With the development of new treatment modalities, including the use of intravenous tissue plasminogen activator and mechanical thrombectomy, clinical outcomes in patients with acute ischemic stroke have improved. However, these interventions are time-sensitive, and there are major disparities between rural and urban regions in terms of the availability of neurologists and life-saving treatment options. Risk of death and poor prognosis after stroke increase with delays in diagnosis and treatment. Further, there is a growing shortage of neurologists, particularly in underserved rural areas. According to Frontiers Media S.A., this supply gap of neurologists is projected to increase from 11% in 2012 to ~19% by 2025, with the largest decline in the number of vascular neurologists. Moreover, strokes can be divided into two main categories—ischemic stroke and hemorrhagic stroke. Ischemic stroke is caused by the cutting off of blood supply to a part of the brain, resulting in a sudden loss of function, while hemorrhagic stroke is due to a rupture of a blood vessel or an abnormal vascular structure.

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Stroke continues to be a disease of immense concern for public health, despite advances in understanding several factors regarding the disease, such as epidemiology, quality of life, and pathophysiology. According to the Indian Stroke Association, the incidence of stroke in India has increased by ~100% over the past few decades. Furthermore, ~1.8 million people in India suffer a stroke yearly, and only early treatment can reduce morbidity and mortality. Further, even though the growing incidence of noncommunicable diseases such as stroke threatens the larger population, stroke treatment and rehabilitation remain underdeveloped in the country. As per the American Heart Association, ~1 in 19 deaths in the US in 2018 was due to a stroke, and in 2016, on average, one person died from a stroke every 3 minutes 33 seconds. Further, stroke is the fifth-highest cause of death in the US, resulting in 147,810 deaths in 2018. Overall, there were an estimated 460,000 strokes in the US in 2019 (two-thirds were ischemic), 190,000 were stroke-related deaths, and 3.83 million stroke-disability-adjusted life years. Therefore, owing to the rising number of stroke cases across the globe is expected to boost the telestroke services market.

Telestroke Services Market: Segmental Overview

Based on type, the telestroke services market is bifurcated into ischemic and hemorrhagic. The ischemic segment holds a larger share in the telestroke services market in 2022; moreover, it is expected to register a higher CAGR from 2022 to 2028.

Based on end user, the telestroke services market is segmented into telehospitals/teleclinics, telehome, and others. The telehospitals/teleclincs segment holds the largest share in 2022 and is anticipated to continue to be the largest shareholder by 2028.

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