Global Telestroke Market, By Stroke Type (Ischemic, Hemorrhagic), End User (Telehospitals/Teleclinics, Telehome, Others) – Industry Trends and Forecast to 2029.
Telestroke Market Analysis and Size
The market is anticipated to increase due to the rising demand for services that give acute stroke patients rapid care to lower the risk of fatal cardiac arrest. As stroke cases increase globally, it is projected that the market for telestroke services will experience huge expansion during the forecast period. Additionally, the low-cost advantages of these services, consistent reimbursement procedures, and advantageous legislation will support market expansion.
Data Bridge Market Research analyses that the telestroke market which was USD 1.5 billion in 2021, would rocket up to USD 6.89 billion by 2029, and is expected to undergo a CAGR of 21.00% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Telestroke Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Stroke Type (Ischemic, Hemorrhagic), End User (Telehospitals/Teleclinics, Telehome, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Eagle Telemedicine (U.S.), Partners Telestroke Centre (U.S.), Granville Health Systems (U.S.), Medical university of South Carolina (U.S.), Providence (U.S.), Amwell (U.S.), Vidyo, Inc. (U.S.), Avizia (U.S.), Lakewood Health System (U.S.), Nebraska Medicine (U.S.), and Blue Sky Health (U.S.)
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Market Opportunities
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Market Definition
Telestroke is also known as stroke telemedicine. Doctors with specialised training in treating strokes can utilise technology to treat patients who have suffered with strokes. The person local emergency medicine doctors and these stroke specialists collaborate to recommend a diagnosis and course of action that can be administered in their hometown.
Global Telestroke Market Dynamics
Drivers
- Rising number of cardiac diseases
The rising number of patients with cardiac disorders, the need to lower the risk of cardiac arrest, the adoption of time-sensitive and effective work processes for telestroke services, and the prevalence of favourable insurance company reimbursement policies, among others, are likely to propel the growth of the telestroke market in the forecast period of 2022–2029.
- Technical developments
An increase in research efforts and technical development which is collaboration between the prince of wales hospital, ehealth nsw, the agency for clinical innovation and the nsw ministry of health. It is based on a successful pilot at Port Macquarie and Coffs Harbour, and will expand to up to 23 sites across NSW will create a variety of opportunities and drive the expansion of the telestroke market throughout the forecast period.
Opportunities
- Increase in the number of research and development activities
The telestroke market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the telestroke market growth.
Moreover, increase in the number of emerging markets and new product launches will further provide beneficial opportunities for the telestroke market growth during the forecast period.
Restraints/Challenges
- Lack of Initiatives
On the other hand, the government's lack of initiatives in developing economies and huge people unaware about the services will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the telestroke market.
This telestroke market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the telestroke market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Telestroke Market
COVID-19 has impacted emergent care in acute vascular emergencies, including acute coronary syndrome and acute ischemic stroke (AIS). Due to the COVID-19 pandemic, Illinois ordered pubs and restaurants to stop serving dine-in customers on March 15, 2020. This was done to increase social distance techniques. Illinois took more assertive action on March 20, 2020, and a stay-at-home order was issued. This stay-at-home order reflects the study period and was still in effect as of April 30, 2020, when the Illinois curve of new cases started to flatten.
Recent Development
- In February 2021, Providence received the American Stroke Association's Heart-Check logo and The Joint Commission's Gold Seal of Approval for its Primary Stroke Center Certification. A team of Joint Commission reviewers recently conducted a thorough onsite inspection of the business to assess compliance with associated certification standards, including programme administration, enabling self-management, and providing and facilitating clinical care.
- In August 2020, The American Heart Association/American Stroke Association's "Get With The Guidelines-Stroke Gold Plus Quality Achievement" award was given to Lakewood Health System. The honour acknowledges the hospital's dedication to making sure stroke patients receive the best care possible in accordance with widely acknowledged, research-based recommendations based on the most recent scientific data.
Global Telestroke Market Scope
The telestroke market is segmented on the basis of stroke type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Stroke Type
- Ischemic
- Hemorrhagic
End User
- Telehospitals/Teleclinics
- Telehome
- Others
Telestroke Market Regional Analysis/Insights
The telestroke market is analysed and market size insights and trends are provided by country, stroke type and end-user as referenced above.
The countries covered in the telestroke market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the telestroke market due to the enhanced regional healthcare and medical infrastructure, availability of adequate and favourable reimbursement policies, as well as higher awareness regarding the benefits of telemedicine services in the region.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the increase in non-communicable diseases such as cardiovascular disorders and diabetes.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The telestroke market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for telestroke market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the telestroke market. The data is available for historic period 2010-2020.
Competitive Landscape and Telestroke Market Share Analysis
The telestroke market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to telestroke market.
Some of the major players operating in the telestroke market are:
- Eagle Telemedicine (U.S.)
- Partners Telestroke Centre (U.S.)
- Granville Health Systems (U.S.)
- Medical university of South Carolina (U.S.)
- Providence (U.S.)
- Amwell (U.S.)
- Vidyo, Inc. (U.S.)
- Avizia (U.S.)
- Lakewood Health System (U.S.)
- Nebraska Medicine (U.S.)
- Blue Sky Health (U.S.)
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