Rapid Advances in Acute Ischemic Stroke (AIS) Treatments to Drive Market Growth over the Next Decade
The acute ischemic stroke (AIS) market comprises of medical devices and therapeutics used in the treatment of stroke. Advancements in minimally invasive surgical techniques and thrombectomy devices have increased treatment options for patients suffering from AIS. rapid revascularization with thrombectomy has emerged as the standard of care for eligible patients within 24 hours of symptom onset. Further, biologics and stem cell therapies are under research to limit brain damage and improve functional recovery post-stroke.
The global acute ischemic stroke (AIS) market is estimated to be valued at US$ 9211.99 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers propelling the growth of the AIS market is the rapid advances in minimally invasive endovascular treatments such as mechanical thrombectomy. These procedures use catheter-based devices to remove blood clots from arteries and rapidly restore blood flow. This has significantly improved outcomes for AIS patients compared to IV t-PA alone. Furthermore, ongoing research in biologics and stem cell therapies is also contributing to market growth. For example, pre-clinical trials are evaluating the potential of mesenchymal stem cells to promote neurogenesis and functional recovery after stroke. However, high cost of newer treatment devices and lack of reimbursement coverage in some countries may hamper market growth over the forecast period.
SWOT Analysis
Strength: Global Acute Ischemic Stroke Market Size has seen major advancements in therapies over the years. Mechanical thrombectomy devices allow clot removal with higher success rates compared to intravenous thrombolysis alone. New generation devices are more compact and enable treatment of difficult clot locations. Telestroke technology enables remote specialist supervision of stroke care in rural areas lacking neurology expertise. This expands access to quality care.
Weakness: High costs associated with mechanical thrombectomy devices pose affordability challenges. Lack of insurance coverage or limited coverage for newer therapies can deter their adoption. Not all hospitals have interventional radiology or neurointerventional suites required for endovascular treatments. Training requirements for proficient usage of new generation devices also need substantial investments.
Opportunity: Growing geriatric population vulnerable to strokes presents a sizable patient pool. Advancing healthcare infrastructure in developing nations can boost market revenues. Partnerships between device makers and hospitals/clinics may facilitate better access and utilization of innovative technologies. Development of techniques combining pharmacological agents with mechanical thrombectomy can further improve outcomes.
Threats: Stringent regulatory approvals for new products may lead to delays. Safety concerns over long-term effects of thrombolysis drugs and implantable devices are scrutinized. Slow reimbursement decisions pose cash flow problems for hospitals. Emerging alternative therapies for ischemic strokes also increase competitive pressure.
Key Takeaways
The global acute ischemic stroke market is expected to witness high growth. Advancements in endovascular therapies have vastly improved treatment outcomes. Mechanical thrombectomy devices are fast replacing conventional intravenous thrombolysis as the standard of care. The global acute ischemic stroke (AIS) market is estimated to be valued at US$ 9211.99 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
Regional analysis:
North America currently dominates the market owing to rapidly rising geriatric populations and strong healthcare infrastructure facilitating technology adoption. However, Asia Pacific is poised to emerge as the fastest growing region during the forecast period supported by improving standards of stroke care, especially in China, India and Japan. Growing medical tourism from developed markets will further augment the region's revenues.
Key players: Key players operating in the acute ischemic stroke market are B. Braun Melsungen AG, Baxter, BD, Johnson & Johnson Private Limited, Stryker Corp., Integra LifeSciences Corporation, Medtronic plc, Acera Surgical, Inc., Anthrex, Inc., Acelity L.P. Inc., Biorez, Aroa Biosurgery Limited, Misonix, Inc., Ortho Regenerative Technologies Inc., AlloSource, Boston Scientific Corporation, TEIJIN LIMITED, and Smith+Nephew, CONMED Corporation. The market witnesses intense competition with major players focusing on new product launches and acquiring smaller innovators to strengthen their portfolio.
Get More Insights On This Topic: https://www.trendingwebwire.com/acute-ischemic-stroke-ais-market-analysis-growth-forecast-outlook-2023-2030/
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