PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397153
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397153
Cerebrovascular Imaging Market size was valued at USD 21,700 Million in 2022, expanding at a CAGR of 5.1% from 2023 to 2030.
Cerebrovascular imaging encompasses a range of medical imaging techniques that are utilized to visualize and evaluate the blood vessels in the brain. These techniques are essential in the identification, treatment planning, and monitoring of cerebrovascular diseases, which involve the blood vessels that supply blood to the brain. Diagnostic imaging tests are capable of detecting the majority of cerebrovascular issues, enabling neurosurgeons to observe the arteries, vessels, and brain tissue. While advancements in technology have facilitated safe, rapid, and more precise diagnoses, they have also resulted in a diverse array of cerebrovascular imaging techniques, necessitating careful selection based on the specific clinical scenario. Achieving an optimal diagnosis and characterization of cerebrovascular disease requires the appropriate choice of imaging examination for each individual case.
The increase in cerebrovascular diseases can lead to a rise in awareness and the implementation of preventive measures. Efforts made through public health campaigns and initiatives can encourage individuals to undergo regular cerebrovascular imaging screenings, which can contribute to early detection and prevention. In the United States, cerebrovascular disease ranks as the fifth most common cause of death. In 2020, it resulted in 48.6 fatalities per 100,000 people, totaling 160,264 deaths. Approximately 87% of strokes are ischemic strokes, which occur due to insufficient blood flow to a part of the brain, as opposed to hemorrhagic strokes that result from bleeding. These statistics are based on data related to cerebrovascular diseases. Furthermore, ongoing advancements in cerebrovascular imaging technology, such as enhanced resolution, faster imaging speeds, and the integration of artificial intelligence, offer opportunities for market growth. However, the high costs associated with advanced imaging technologies may hinder the market's expansion.
The Global Cerebrovascular Imaging Market is segmented on the basis of Technology, Application, End-User, and Region.
The market is divided into three categories based on Technology: Magnetic resonance angiogram, Electroencephalogram, Computed tomography, Magnetic resonance imaging, Carotid ultrasound, and Cerebral angiography. The market is primarily dominated by computed tomography segment. CT angiography is extensively utilized for non-invasive visualization of blood vessels in the brain. It offers comprehensive images of the cerebral vasculature, assisting in the identification of various conditions including aneurysms, stenosis, and vascular malformations.
The market is divided into two categories based on application: Diagnostic and Therapeutic. The market is primarily dominated by the diagnostic segment. Within the cerebrovascular imaging market, there exists a variety of diagnostic technologies and tools that are utilized to evaluate and visualize the blood vessels in the brain. These diagnostic methods play a vital role in identifying and assessing conditions that impact the cerebrovascular system. Furthermore, smaller companies specializing in specific diagnostic technologies and research institutions also play a significant role in driving advancements in cerebrovascular imaging diagnostics.
The market is divided into two categories based on Users: Diagnostic imaging centers, Hospitals and Others. The hospital sector dominates the market. Hospitals play a crucial role in offering diagnostic services, such as cerebrovascular imaging. It is imperative for hospitals to effectively handle the demand for cerebrovascular imaging. This entails enhancing the efficiency of imaging studies and ensuring prompt access for patients in need of diagnostic evaluations.
Geographically, this market is extensively spread across various regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further subdivided based on the countries involved in business activities. The growth of the market is expected to be dominated by North America, primarily due to the expansion of healthcare infrastructure in emerging markets. As healthcare infrastructure continues to expand in these emerging markets, there will be a higher demand for medical imaging technologies, particularly cerebrovascular imaging. This demand is driven by the necessity for advanced diagnostic tools to support the evolving healthcare systems in these regions. A study titled U.S. Health Care from a Global Perspective revealed that in 2021, the United States allocated 17.8 percent of its gross domestic product (GDP) to healthcare, which is nearly twice the average spending of OECD countries. Despite having the highest healthcare expenditure globally, Americans visit physicians less frequently compared to residents of most other high-income countries, with an average of four visits per person per year. Europe, on the other hand, represents the second-largest market for cerebrovascular imaging, mainly due to the increasing prevalence of diabetes, cardiovascular disorders, and obesity in the region.
The market for cerebrovascular imaging has seen significant advancements in technology, informatics, and endovascular stroke therapies. These developments have created an opportunity for registries to make further progress in understanding and managing individuals with cerebrovascular disorders. The competitive edge in this market is driven by advancements in imaging speed, resolution, and the ability to provide functional information. Companies can differentiate themselves by offering comprehensive service and support, integrating with healthcare IT solutions, and adhering to evolving healthcare standards and regulations. For instance, on 25 August 2023, GE HealthCare launched the Vscan Air SL handheld ultrasound device at the European Society of Cardiology Congress in Amsterdam, which offers proprietary image-enhancing knowledge and the ability to switch among vascular as well as cardiac calculations with one device at the point of care.
In Nov.2019, Siemens Healthineers AG has recently announced a merger agreement with Corindus Vascular Robotics, Inc., a renowned global leader in robotic-assisted vascular interventions. By incorporating robotic-assisted minimally invasive procedures, there is a potential to reduce treatment times, enhance precision during treatment, standardize clinical procedures, and ultimately improve clinical outcomes. These advancements align with the strategic focus of Siemens Healthineers' Advanced Therapies business segment.