Acute ischemic stroke (AIS) occurs due to blockage of blood flow to the brain, often caused by blood clots or thrombi. Medical devices used in the treatment of AIS include stent retrievers, aspiration catheters, clot penetrating catheters, and stent catheters. These devices are used for mechanical thrombectomy procedure to remove blood clots from the brain's blood vessels to restore blood flow in patients suffering from AIS.
The global AIS market is estimated to be valued at US$ 4 billion in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity of increasing number of stroke patients globally is driving the growth of the AIS market. According to the World Stroke Organization, around 17 million people suffer from stroke each year globally. Stroke is the second leading cause of death and a major cause of disability worldwide. With rapid growth in the geriatric population globally, the prevalence of stroke is increasing significantly. Advanced age is the strongest risk factor for stroke. As per the WHO, around 85% of all strokes occur in people over the age of 65. The increasing prevalence of risk factors like diabetes, obesity, high blood pressure, smoking that are leading to higher stroke rates also contributes to the growth opportunity. Improving access to stroke diagnosis and treatment with advanced medical devices is important to reduce morbidity and mortality due to stroke. This growing patient population will propel the demand for effective AIS treatment devices such as stent retrievers globally.
Porter's Analysis
Threat of new entrants: Low barrier for new entrants due to the availability of generic drugs and biosimilars. However, requirements for extensive clinical trials and manufacturing facilities increases the entry costs.
Bargaining power of buyers: Increasing demand for stroke treatment provides high bargaining power to buyers. They can negotiate on price points and quality standards with existing players.
Bargaining power of suppliers: Dominance of few major suppliers of active pharmaceutical ingredients and contract manufacturing organizations provides them strong bargaining power in the supply chain.
Threat of new substitutes: Availability of generic versions and biosimilar biologics post-patent expiration increases the availability of substitutes.
Competitive rivalry: Presence of several global and regional players intensifies the competition. Focus on R&D, pricing strategies and portfolio expansion are key competitive practices.
SWOT Analysis
Strength: High unmet medical needs, increasing awareness, favorable regulatory environment and reimbursement schemes drive the market growth.
Weakness: Underdeveloped healthcare infrastructure and access in developing economies, high treatment cost, risk of recurrent strokes.
Opportunity: Emerging biosimilars market, potential of stem cell therapy and regenerative medicines, rise of telestroke practices to enhance access.
Threats: Patent expiration of blockbuster drugs, stringent regulatory approval pathway for novel drugs and biologics, reimbursement cuts.
Key Takeaways
The global Acute Ischemic Stroke (AIS) market size is expected to witness high growth during the forecast period owing to rising incidence of strokes worldwide. The global AIS market is estimated to be valued at US$ 4 billion in 2023 and is expected to exhibit a CAGR of 18% over the forecast period 2023-2030.
North America currently dominates the market due to high healthcare spending and availability of advanced treatment options. Regional analysis indicates that Asia Pacific will be the fastest growing market in the coming years due to growing unmet needs, improving access and rising healthcare expenditure in major economies like China and India.
Key players operating in the AIS market are F. Hoffmann-La Roche Ltd, Sanofi, Biogen Inc., Boehringer Ingelheim GmbH, Daiichi Sankyo Company Limited and others. These players are focusing on R&D of novel therapeutics, pursuing clinical trials, forging strategic collaborations, and expanding business footprint through mergers and acquisitions to strengthen their market position.
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Ischemic stroke market research report: by diagnosis (CT, MRI, carotid ultrasound, cerebral angiography), drug class (tissue plasminogen activator, anticoagulant, antiplatelet, antihypertensive), surgery, end user – Global forecast till 2023Market Scenario:Ischemic strokes occur as a result of an obstruction within a blood vessel supplying blood to the brain.
The underlying condition of this type of obstruction is the development of fat deposits lining the vessel walls, which is known as atherosclerosis.
According to the World Health Organization (WHO), stroke accounts for around 17 million deaths annually.
As per the Centers for Disease Control and Prevention (CDC), stroke leads to 1 out of every 20 deaths costing around USD 34 billion each year in the U.S. Higher rates of mortality associated with strokes highlight an impending need for innovative drugs and diagnostic devices.Avail a Free Sample Insights @ https://www.marketresearchfuture.com/sample_request/5423 The global market for ischemic stroke is expected to grow at a CAGR of approximately 8.3% during the forecast period 2017-2023.Some of key the players in the Americas ischemic stroke market are Abbott Laboratories (U.S.), Medtronic plc (U.S.), Boston Scientific Corporation (U.S.), Cordis Corporation (U.S.), Koninklijke Philips N.V. (Netherland), GE Healthcare (U.S.), Stryker Corporation (U.S.), Genentech, Inc. (U.S.), Merck & Co., Inc. (U.S.), Bayer AG (Germany), Boehringer Ingelheim (Germany), Sanofi (France), Covidien plc (Ireland), Philips Healthcare (U.S.), Johnson & Johnson (U.S.), Penumbra, Inc. (U.S.), GE Healthcare (U.S.), Siemens Healthcare (U.S.), Hitachi, Ltd (Japan), Biogen (U.S.), Daiichi Sankyo (U.S.), Pfizer Inc. (U.S.), and othersSegmentation:The ischemic stroke is segmented on the basis of diagnosis, drug class, surgery and end-users.On the basis of the diagnosis, the market is segmented into Computed Tomography (CT), Magnetic resonance imaging (MRI), carotid ultrasound, cerebral angiography, electrocardiography, echocardiography, and others.On the basis of the drug class, the market is segmented into tissue plasminogen activator, anticoagulant, antiplatelet, antihypertensive, and othersOn the basis of the surgery, the market is segmented into carotid endarterectomy, angioplasty, and endovascular mechanical thrombectomyOn the basis of the end-user, the market is segmented into hospitals & clinics, medical institutes, research organization, and others.Browse Complete Premium Research Report@ https://www.marketresearchfuture.com/reports/ischemic-stroke-market-5423 Intended Audience:Ischemic Stroke Drug SuppliersIschemic Stroke Drug ManufacturersResearch and Development (R) CompaniesMedical Research LaboratoriesAcademic Medical Institutes and UniversitiesAbout Market Research Future:At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.Contact:Market Research Future +1 646 845 9312Email: [email protected]
