PUBLISHER: The Business Research Company | PRODUCT CODE: 1539808
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539808
Telestroke services utilize telemedicine to allow stroke specialists to remotely assess and treat patients experiencing stroke symptoms. This technology enables doctors to swiftly diagnose and recommend treatment plans regardless of the patient's location, ensuring that even those in remote or underserved areas receive prompt and expert care.
The primary types of strokes addressed by telestroke services include ischemic stroke, hemorrhagic stroke, and transient ischemic attack. Ischemic stroke occurs when a blood clot blocks an artery in the brain, reducing blood flow and oxygen, which can lead to tissue damage or death. These services find applications in counseling, treatment, emergency services, and other forms of care across various end-users such as hospitals, specialty clinics, home healthcare settings, and beyond.
The telestroke services market research report is one of a series of new reports from The Business Research Company that provides telestroke services market statistics, including telestroke services industry global market size, regional shares, competitors with a telestroke services market share, detailed telestroke services market segments, market trends and opportunities, and any further data you may need to thrive in the telestroke services industry. This telestroke services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The telestroke market size has grown rapidly in recent years. It will grow from $1.47 billion in 2023 to $1.67 billion in 2024 at a compound annual growth rate (CAGR) of 13.9%. The growth during the historical period was driven by well-established healthcare infrastructure, consistent reimbursement methods, supportive legislation, a shortage of stroke specialists in rural and underserved regions, and the critical imperative to reduce treatment time.
The telestroke market size is expected to see rapid growth in the next few years. It will grow to $2.82 billion in 2028 at a compound annual growth rate (CAGR) of 14%. Anticipated growth in the forecast period can be attributed to increasing demand for telehealth services, rising patient preference for virtual stroke consultations guided by healthcare organizations, cost-effective advantages of telestroke services, adoption of efficient workflows for telestroke services, and heightened research activities. Key trends expected in the forecast period include advancements in research and development, integration of Internet of Things (IoT), enhancements in video conferencing, image sharing, and telemedicine platforms, utilization of artificial intelligence (AI) and machine learning (ML), and the expansion of cloud-based storage and data analytics capabilities.
The telestroke services market is expected to grow significantly due to the increasing number of patients with cardiac disorders. These disorders encompass a variety of conditions affecting the heart's structure and function. Telestroke services facilitate the management of cardiac disorders by enabling remote access to specialized care. Through real-time video consultations and data transmission, cardiologists can promptly diagnose and treat cardiac conditions, especially in rural or underserved areas. For example, in April 2023, the British Heart Foundation reported that Scotland saw 17,639 deaths from all heart and circulatory illnesses in 2021, up from 17,448 in 2020. Similarly, deaths from coronary heart disease in the UK rose to 65,579 in 2021 from 64,170 in 2020. Therefore, the increasing prevalence of cardiac disorders is a key driver behind the growth of the telestroke services market.
Leading companies in the telestroke services market are focusing on introducing innovative technologies such as image-sharing telestroke services to enhance diagnostic accuracy, improve patient outcomes, and ensure rapid stroke treatment. These services utilize digital tools for high-resolution, two-way video teleconferencing. For instance, in February 2024, Guam Regional Medical City launched 24-hour telestroke services, providing continuous access to certified neurologists. Key features include high-speed audio and video conferencing and image-sharing technology, enabling specialists to assess, diagnose, and collaborate with onsite doctors in managing stroke patient care.
In January 2023, Capsa Healthcare, a US-based manufacturer of medical equipment, acquired Tryten Technologies Inc. for an undisclosed sum. This strategic acquisition aims to expand Capsa Healthcare's product offerings to meet increasing demands for virtual care, improved patient engagement, and enhanced mobility of medical devices within healthcare environments. Tryten Technologies Inc., headquartered in the UK, specializes in telestroke services and telemedicine solutions, contributing to advancements in patient care.
Major companies operating in the telestroke services market are Providence Health & Services, Teladoc Health Inc, Vituity, Enghouse Video (Enghouse Systems), DispatchHealth, American Well Corporation, Definitive Healthcare, ScienceSoft, Capsa Healthcare, Access TeleCare LLC, Relias Media, Eagle Telemedicine, Caregility, TeleSpecialists LLC, GlobalMedia Group LLC, RapidAI, AmplifyMD, Sevaro Health Inc, Tenovi, Bluesky Health, swyMe, VeeOne Health, American TelePhysicians (ATP), RemoteICU, Alina TeleHealth
North America was the largest region in the telestroke market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telestroke services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the telestroke services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The telestroke services market includes revenues earned by entities through remote stroke diagnosis, stroke treatment recommendations, and telemedicine platforms. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Telestroke Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on telestroke services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for telestroke services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The telestroke services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.