Paragraph: Intracranial hemorrhage, also known as bleeding within the brain, refers to bleeding that occurs in the intracranial cavity or the spaces within the brain. It can occur from ruptured intracranial aneurysms, arteriovenous malformations, or trauma. Computed tomography (CT) scans and magnetic resonance imaging (MRI) scans are typically used to diagnose the location and extent of bleeding. Early diagnosis is critical to determine the appropriate treatment, which may involve surgery, medications, or careful observation.
The Global Intracranial Hemorrhage Diagnosis Market is estimated to be valued at USD 1.9 Bn in 2024 and is expected to reach USD 3.4 Bn by 2031, growing at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Key Takeaways
Key players: Key players operating in the intracranial hemorrhage diagnosis market are Philips Healthcare, Siemens Healthineers, GE Healthcare, Hitachi Ltd., and Canon Inc.
Growing demand: Rising incidence of stroke and head injuries due to road accidents and trauma is a major factor fueling the demand for accurate diagnostic tools for Intracranial Hemorrhage Diagnosis Market. According to a study, stroke causes about 6 million deaths worldwide each year.
Technological advancement: Introduction of advanced imaging technologies such as multidetector CT scanners and high-field MRI has improved the detection of even minimal bleeding levels. 3D CT angiography technology allows detailed visualization of intracranial blood vessels.
Market Trends
Portable CT and MRI devices - Major players are developing portable and mobile CT and MRI devices to widen access to diagnostic services in remote areas. For example, Canon Inc. offers portable CT systems.
AI-powered diagnostics - AI is being applied to medical imaging to enable earlier and more accurate diagnosis of hemorrhage type and volume. AI algorithms can be trained on large image datasets.
Market Opportunities
Outpatient diagnostic centers - Growth in outpatient clinics and diagnostic centers presents an opportunity as they increasingly adopt advanced imaging technologies.
Emerging markets - Markets in Asia Pacific and Latin America are expected to provide lucrative opportunities due to increasing healthcare spending and demand.
Impact of COVID-19 on Intracranial Hemorrhage Diagnostics Market Growth
The COVID-19 pandemic has significantly impacted the Intracranial Hemorrhage Diagnostics market. In the initial months of the pandemic during 2020, market growth slowed down considerably as most hospitals postponed elective surgeries and shifted focus towards COVID patients. This led to a decline in demand for intracranial hemorrhage diagnostic devices such as CT scanners and MRI machines.
However, with time many regions have learned to live with the virus while maintaining necessary precautionary measures. Healthcare systems have adapted to continue providing urgent care for conditions like intracranial hemorrhage along with COVID treatment. Post COVID, the demand for advanced diagnostic technologies is expected to rise steadily as delayed cases are addressed. Market players are focusing on launching new portable and affordable devices to boost access in rural areas. Telemedicine is also being leveraged to monitor at-risk patients and enable early diagnosis.
Geographical Concentration of Intracranial Hemorrhage Diagnostics Market
North America accounts for the largest share of the global intracranial hemorrhage diagnostics market in terms of value. This can be attributed to factors such as high healthcare spending per capita, rising geriatric population prone to hemorrhagic strokes, and widespread availability and adoption of advanced diagnostic technologies. The United States dominates the North American market owing to presence of major players and a well-developed healthcare infrastructure.
Asia Pacific is poised to be the fastest growing region for the intracranial hemorrhage diagnostics market over the forecast period. Rapidly improving access to healthcare through public-private collaborations and a surge in incidence of lifestyle diseases have increased demand. In addition, increasing awareness regarding early diagnosis has proliferated use of minimally invasive diagnostic methods in countries such as India and China, auguring well for the APAC market.
Get more insights on : Intracranial Hemorrhage Diagnosis Market
About Author: Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
