Telestroke Services Market Size Expected to Surpass USD 4.72 Bn by 2031
The global telestroke services market size is calculated at USD 1.72 billion in 2024 and is expected to reach around USD 4.72 billion by 2031, exhibiting a compound annual growth rate CAGR of 15.1% from 2024 to 2031.
Burlingame, May 15, 2024 (GLOBE NEWSWIRE) -- The global telestroke services market size was valued at USD 1.72 billion in 2024 and is predicted to surpass around USD 4.72 billion by 2031, According to Coherent Market Insights. Telestroke services allow neurologists to evaluate and treat stroke patients in remote hospitals via telemedicine technology in real-time. This reduces delays in stroke treatment and improves patient outcomes.
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Market Dynamics:
The Telestroke Services Market is driven by the increasing adoption of telemedicine services, especially in remote areas where access to specialized stroke care is limited. Telestroke services provide real-time consultations with stroke specialists, leading to faster diagnosis and treatment, thereby improving patient outcomes. Additionally, the growing prevalence of stroke cases globally is fueling the demand for telestroke services to provide timely and efficient care to stroke patients.
Telestroke Services Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $1.72 billion |
| Estimated Value by 2031 | $4.72 billion |
| Growth Rate | Poised to grow at a CAGR of 15.5% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Stroke Type, By Platform Deployment, By Application, By End Users |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Rising prevalence of strokes • Growing acceptance of telemedicine solutions |
| Restraints & Challenges | • Low adoption rate among hospitals • Data privacy and security concerns |
Market Trends:
The market is witnessing a trend of technological advancements in telestroke services, such as the integration of artificial intelligence and machine learning algorithms for accurate diagnosis and treatment recommendations. These advancements are enhancing the efficiency and effectiveness of telestroke services, driving market growth.
Healthcare providers are expanding their telestroke networks to reach a larger population and provide timely stroke care to remote and underserved areas. The expansion of telestroke networks is improving access to specialized stroke care, leading to increased adoption of telestroke services and market growth.
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Market Opportunities:
Telestroke services have emerged as a valuable tool in providing timely and efficient stroke care to patients, especially in remote or underserved areas. With the growing burden of stroke cases globally, the demand for telestroke services is expected to rise significantly in the coming years.
One of the key market opportunities in the telestroke services market is the ability to improve access to stroke care for patients residing in remote or rural areas. Telestroke services enable healthcare providers to connect with stroke specialists remotely, allowing for quick assessment and treatment recommendations, ultimately leading to better patient outcomes.
Another market opportunity lies in the cost-effective nature of telestroke services. By utilizing telemedicine technologies, healthcare providers can reduce unnecessary transfers, optimize resource utilization, and streamline stroke care delivery processes. This not only benefits patients by reducing healthcare costs but also helps healthcare systems improve their efficiency and productivity.
Recent Developments:
In May 2023, Stroke treatment is being promoted during National Stroke Awareness Month by TeleSpecialist, a well-known worldwide supplier of hospital based telemedicine solutions.
In February 2022, in order to shorten treatment times and improve patient results nationwide, Viz.ai and teleSpecialist, LLC have partnered strategically to bring together AI-powered stoke care with well-known telestroke neurologists.
Key Market Takeaways:
Telestroke services market is anticipated to witness a CAGR of 15.5% during the forecast period 2024-2031, owing to the increasing adoption of telemedicine technologies in stroke care.
On the basis of stroke type, the ischemic stroke segment is expected to hold a dominant position, owing to its higher prevalence and the availability of effective treatment options for ischemic stroke.
On the basis of platform deployment, the cloud segment is expected to dominate, as it offers greater flexibility, scalability, and cost-efficiency compared to on-premise solutions.
In terms of applications, counseling is projected to be the dominating segment, as it plays a crucial role in patient education, rehabilitation, and long-term management of stroke patients.
Among end users, hospitals are expected to lead the market, given their advanced infrastructure, skilled healthcare professionals, and high patient footfall.
In terms of region, North America is expected to hold a dominant position over the forecast period, driven by the presence of well-established healthcare infrastructure, high adoption of telemedicine technologies, and supportive government initiatives.
Key players operating in the telestroke services market include ScienceSoft, SEVARO, Teladoc Health, Inc., TeleSpecialists, and others. These key players are focusing on strategic collaborations, product innovation, and geographical expansions to strengthen their market presence and gain a competitive edge in the telestroke services market.
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Market Segmentation:
By Stroke Type:
- Ischemic stroke
- Hemorrhagic stroke
- Transient Ischemic Attack
By Platform Deployment:
- Cloud
- On Premise
By Application:
- Counseling
- Treatment
- Emergency Service
- Others
By End Users:
- Hospitals
- Specialty Clinics
- Home Healthcare Settings
- Others
By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com
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