June 20, 2024
Telestroke Services Market

Telestroke Services Market is Transforming Stroke Care Delivery Trends by Innovation in Telemedicine

Telestroke services allow real-time video stroke consultations between hospitals and stroke neurologists, enabling timely treatment decisions for acute ischemic stroke patients. Advantages include access to specialized stroke expertise for hospitals without full-time neurologists and swifter treatment initiation to maximize therapy effectiveness. Global acute ischemic strokes affect over 13 million people annually, emphasizing the need for streamlined stroke care.

The Global Telestroke Services Market is estimated to be valued at US$ 1.72 Bn in 2024 and is expected to exhibit a 15% CAGR over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Telestroke Services are ScienceSoft, SEVARO, Teladoc Health, Inc., TeleSpecialists, Alina TeleHealth, RapidAI, American Well, CEP AMERICA, LLC, GlobalMedia Group, LLC, DispatchHealth, Eagle Telemedicine, Providence, Lakewood Health System, VeeOne Health, and swyMe. The growing prevalence of strokes and increasing awareness about Telestroke Services Market Growth are major factors propelling. Moreover, expanding telestroke networks across geographies are further augmenting the market expansion.

Market Key Trends

The emergence of artificial intelligence (AI) and augmented reality (AR) in telestroke consultations is one of the primary trends witnessed in the market. AI technologies enable automated interpretation of patient scans, aiding quicker diagnosis. Furthermore, AR tools support visualization of lesions and treatment simulations during remote consultations. Such innovations enhance diagnostic accuracy and therapy decision-making in emergent Telestroke Services Market cases.

Porter’s Analysis

  • Threat of new entrants: High capital requirements for technology infrastructure and operations act as a deterrent for new players.
  • Bargaining power of buyers: Individual and institutional buyers have low bargaining power due to lack of substitutes and need for urgent medical care.
  • Bargaining power of suppliers: Suppliers of medical technologies and staff have moderate bargaining power due to limited number of players who can provide teleconsultation solutions for stroke patients.
  • Threat of new substitutes: Telestroke services have few potential substitutes as they provide urgent medical care remotely.
  • Competitive rivalry: Intense competition exists among existing players to expand their geographical footprint and offer one-stop solutions for all stroke treatment needs.

The North American region accounts for the largest share of the global telestroke services market in terms of value due to high adoption of telehealth and telemedicine technologies along with advanced healthcare infrastructure in the US and Canada.

The Asia Pacific region is poised to exhibit the fastest growth in the telestroke services market during the forecast period. Growth prospects in the region can be attributed to rising geriatric population, increasing prevalence of stroke and cardiovascular diseases, growing medical tourism, and improving healthcare spending and infrastructure in developing countries such as India and China.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it