U.S. Telestroke Market – Industry Trends and Forecast to 2031

U.S. Telestroke Market Analysis and Size

The rising volume of patients suffering from strokes and the growing awareness to reduce the risk is driving the market growth. The competition in the market is getting severe as market players are expanding their presence, service, and support for the market.

The major factors driving the growth of the market is the rising volume of patients suffering from strokes, the increasing need to reduce the risk of strokes, increasing approvals of telestroke devices by the Food and Drug Administration (FDA), and the cost-effectiveness of telestroke devices. Rising healthcare frauds and issues regarding insufficient reimbursement are the major restraints for the market.                                

Data Bridge Market Research analyzes that the U.S. telestroke market which was USD 1,546.79 million in 2023, is likely to reach USD 4,672.23 million by 2031, and is expected to undergo a CAGR of 19.1% during the forecast period. “Software” dominates the component segment of the telestroke market due to the rising focus on technological advancements. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

U.S. Telestroke Market Scope and Segmentation

Market Definition

Telestroke refers to a specialized telemedicine service designed for stroke care. It involves the use of telecommunication and information technologies to provide remote assessment, diagnosis, and treatment guidance for stroke patients. The primary goal of telestroke is to expedite the delivery of time-sensitive treatments, such as thrombolytic therapy (clot-busting drugs) or other interventions, improving outcomes for stroke patients by ensuring they receive appropriate care promptly, even if they're not physically present at a specialized stroke centre.

U.S. Telestroke Market Dynamics

Drivers

• Time Sensitive Interventions

Time is critical in stroke care, especially for administering thrombolytic therapy. Telestroke enables rapid assessment and decision-making, leading to quicker initiation of treatments and reducing the risk of long-term disability or complications.

• Integration with Healthcare Systems

Integrating telestroke platforms with existing electronic health record (EHR) systems and healthcare networks presents an opportunity to streamline workflows, improve data sharing, and enhance care coordination. This integration can lead to a more comprehensive and efficient healthcare delivery system.

Opportunities

• Access to Specialized Care

Telestroke services break geographical barriers, allowing patients in remote or underserved areas to access specialized stroke care and expertise from neurologists and stroke specialists located elsewhere. This opportunity can significantly improve outcomes for patients who might not otherwise have timely access to such care.

• Increasing Technological Advancements

Ongoing advancements in telemedicine technologies, including high-definition video conferencing, remote monitoring devices, and AI-driven diagnostics, offer opportunities to enhance the capabilities and effectiveness of telestroke services. These innovations can further improve diagnostic accuracy and treatment decisions.

Restraints

• Regulatory Approvals and Compliance

Reimbursement policies and regulatory hurdles can impede the expansion of telestroke services. Varying state regulations and limitations in reimbursement for telemedicine services create barriers to its widespread implementation.

• Lack of Skilled Professional

Proper training for healthcare professionals on using telestroke technology is crucial. Overcoming resistance or skepticism among some practitioners about remote diagnosis and treatment can be a challenge.

Challenges

• Security and Privacy Concerns

Ensuring compliance with healthcare data security standards, such as HIPAA, is critical in telemedicine. Concerns about the privacy and security of patient information transmitted through telestroke platforms can act as a barrier to adoption.

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.

Recent Developments

• In November 2020, TeleSpecialists has announced that they have successfully launched telestroke services for 200 hospitals. It is a milestone for the company as they have achieved such a feat within a span of seven years and it only took them a year to move from 100 to 200. This will help the company to increase their footprint U.S. and become a leader in neurology services provider
• In October 2020, VeeMed has announced the launch of their service, VeeClinic which is an innovative solution allowing the physicians to stay in touch with their patients with a help of a single click. In backward areas, they allow the patients to connect with the specialists virtually. This will help the company to expand their presence even in rural areas and increase their customer base which will bring in more revenues for them

U.S. Telestroke Market Scope

The telestroke market is segmented into eight notable segments which are based on component, facilities service, care settings, deployment type, stroke type, application, end user and distribution channel. 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.

Component

• Hardware and Software
• Services

Facilities Service

• On-Site
• Remote

Care Settings                                                                   

• Mobile Stroke Units
• Intensive Care Units (ICUs)
• Emergency Departments (EDs)
• Medical Surgical Units
• Others

Deployment Type

• On Premises
• Cloud Based

Stroke Type

• Ischemic
• Hemorrhagic
• Transient Ischemic Attack (TIA)

Application

• Pre-Hospital and Hospital Care
• Additional Applications

End User

• Providers
• Patients

Distribution Channel

• Direct Tender
• Third Party Distribution
• Retail Sales

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 2010-2021.

Competitive Landscape and U.S. 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, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to the telestroke market.

Some of the major players operating in the telestroke market are:

• Abbott (U.S.)
• GE Healthcare (a subsidiary of General Electric) (U.S.)
• VeeMed (U.S.)
• swyMe (U.S.)
• TeleSpecialists (U.S.)
• American Well (U.S.)
• InTouch Technologies, Inc. (a subsidiary of Teladoc Health, Inc.) (U.S.)
• iSchemaView, Inc. (U.S.)
• The General Hospital Corporation (U.S.)
• Brigham and Women's Hospital (U.S.)
• Providence Health & Services (U.S.)
• Medical University of South Carolina (U.S.)
• Lakewood Health System (U.S.)
• Nebraska Medicine (U.S.)
• CentraCare (U.S.)
• Mayo Foundation for Medical Education and Research (MFMER) (U.S.)
• Rush Medical University Center (U.S.)
• Penn Medicine (U.S.)
• UCLA Health (U.S.)
• Medtronic (Ireland)

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