Rapid Integration of Artificial Intelligence To Surge Stroke Post Processing Software Market 2032
Fact.MR’s recently published study on the stroke post processing software market concludes that the industry is expected to flourish at a CAGR of 8.9% from 2022 to 2032, reaching US$ 417.53 Mn by the end of the said forecast period. Advancements in healthcare IT infrastructure to improve patient outcomes is the chief growth driver of this market.
From 2015 to 2021, sales of stroke post processing software grew at a CAGR of 9.2%, reaching US$ 141 Mn. As of 2022, the market is forecast to reach US$ 178 Mn. Initially, growth prospects were dented during Q1 2020, amid reallocation of all healthcare resources to COVID-19 patients. Eventually, linkages between strokes and the coronavirus diseases prompted increased uptake of post processing software.
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In coming years, part of early-career stroke neurologists’ role will be to integrate AI and smart technology into stroke research and practice. The application of AI technology in the assessment of stroke risk can achieve favorable results. The need for early detection, accurate diagnosis, and timely treatment has promoted the increasing application of AI in stroke care. AI systems can also help stroke neurologists identify patients with acute ischemic stroke due to large vessel occlusions.
Key Takeaways from the Market Study
- Desktop mounted software to accumulate 62% market revenue as of 2022
- Mobile and tablet based software to experience a CAGR of 8.7% from 2022 to 2032
- By modality, MRI-based stroke post processing software to account for 71% revenue
- Over 4/5th of global market revenue to be contributed by ischemic strokes
- Hospitals & clinics to contribute more than 3 out of 4 sales of stroke post processing software
- North America to be a lucrative market for stroke post processing software, accumulating 47% revenue
- Asia Pacific to flourish at over 9% value CAGR from 2022 to 2032
As healthcare providers look to improve patient outcomes, the emphasis on digitally driven patient care is augmenting manifold. This has led to extensive stroke post processing software deployment, providing fertile ground for new software launches, remarks a Fact.MR analyst.
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Siemens Healthineers, General Electric Company, Brainomix Limited, iSchemaView and Viz.ai Inc. are some of the prominent stroke post processing software providers profiled by Fact.MR. Aforementioned players are strengthening AI capabilities to offer highly precise imaging systems. Prominent developments are as follows:
- In January 2022, Brainomix Limited launched the e-Stroke 11 AI-powered stroke imaging platform. This software is designed to enhance stroke network communications by allowing physicians to quickly and securely access, review and share images and patient data, send messages and flag patients eligible for thrombectomy
- In February 2022, Viz.ai Inc. and TeleSpecialists LLC entered a strategic partnership to bring together AI-powered stroke care and leading telestroke neurologists to optimize time to treatment and improve patient outcomes across the United States. This partnership will facilitate stroke care coordination even when the patient and provider are hundreds of miles apart.
|Market Value as of 2021||US$ 141 Mn|
|Expected Market Value in 2022||US$ 178 Mn|
|Projected Market Value in 2032||US$ 417.53 Mn|
|Global Growth Rate (2022-2032)||8.9% CAGR|
|Market Share of North America||47%|
|Expected Growth Rate of Asia Pacific||9.3% CAGR|
|Proportion of Stroke Post Processing Software Usage in Hospitals & Clinics||76%|
|Key Providers of Stroke Post Processing Software||
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Key Segments Covered in the Stroke Processing Industry Study
- Desktop-based Stroke Post Processing Software
- Mobile Phones & Tablet-based Stroke Post Processing Software
- CT Scan-based Stroke Post Processing Software
- MRI-based Stroke Post Processing Software
By Software Type
- Stroke Post Processing Software for Ischemic Stroke
- Stroke Post Processing Software for Hemorrhagic Stroke
- Stroke Post Processing Software for Other Diseases
By End Use
- Stroke Post Processing Software for Hospitals & Clinics
- Stroke Post Processing Software for Specialty Centers & Others
Key Drivers Influencing Stroke Post Processing Software Uptake
Ever Increasing Global Burden of Strokes Providing Growth Opportunities
According to the World Stroke Organization (WSO), from 1990 to 2019, the burden of strokes in absolute number of cases increased substantially, with a 70% increase in incident strokes, 43% in terms of deaths, 102% prevalent strokes and 143% in terms of DALYs. The estimated global cost of stroke is over US$ 721 billion, or 0.66% of global GDP.
A majority of this global burden (86% in terms of deaths and 89% in terms of DALYs) is concentrated across the lower-income and lower-middle-income countries. Given these highly disturbing trends, it is unsurprising to know that the importance of providing advanced stroke care and management has heightened in recent years.
Both governments and healthcare organizations have left no stone unturned to ensure that good quality care is administered to stroke patients. This has led to enhanced deployment of stroke post processing software across both large and small-scale healthcare settings. A majority of these software solutions have been designed to cater to the needs of ischemic stroke patients, the most prevalent category of stroke.
Rapid Integration of Artificial Intelligence in Stroke Management Widening Prospects
The global healthcare industry is in the middle of an artificial intelligence revolution. With the rapid development of deep learning and machine learning algorithms in recent years, the application of AI in diagnosis, risk stratification, and therapeutic decision-making has become ever-more widespread. AI presents exciting opportunities to improve stroke care delivery.
In coming years, part of early-career stroke neurologists’ role will be to integrate AI and smart technology into stroke research and practice. The application of AI technology in the assessment of stroke risk can achieve favorable results. Previous research showed that AI algorithms can be used for early diagnosis of atrial fibrillation using normal sinus rhythm electrocardiographs, which allows for early intervention to reduce stroke risk.
The need for early detection, accurate diagnosis, and timely treatment has promoted the increasing application of AI in stroke care. AI systems can also help stroke neurologists identify patients with acute ischemic stroke due to large vessel occlusions. The Rapid AI system has been proved to be an efficient tool in identifying candidates who can benefit from reperfusion therapy, such as endovascular therapy and intravenous recombinant tissue-type plasminogen activator.
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