Acute Ischemic Stroke (AIS) is Estimated to Witness High Growth Owing to Availability of Novel Therapies
Acute ischemic stroke (AIS) occurs due to obstruction of blood flow to the brain. Key symptoms of AIS include sudden numbness or weakness, especially on one side of the body, sudden confusion or difficulty in speaking or understanding speech, sudden vision loss and sudden severe headache or immobility. Increasing adoption of minimally invasive surgeries over conventional open brain surgeries due to advantages such as less post surgery complications and shorter hospital stay is driving the growth of the global AIS market.
The global Acute Ischemic Stroke (AIS) Market is estimated to be valued at US$ 9,211.99 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The availability of novel therapies presents a major market opportunity for players in the Global Acute Ischemic Stroke Market Size. Promising technologies such as minimally invasive thrombectomy and ultrasound assisted thrombolysis procedures allows doctors to remove blood clots more accurately and in a minimally invasive manner. This increases recanalization rates and expands the therapeutic window compared to conventional medical management. With advantages such as reduced complications, lower healthcare costs and better patient outcomes, adoption of such novel technologies is expected to increase significantly over the forecast period, driving robust growth of the AIS market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the market requires significant investments in R&D and manufacturing along with established distribution and marketing networks.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of alternative treatment options and generic products. However, the increasing demand for minimally invasive treatments works in favor of established brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to the availability of replacement components and dependence on few raw material suppliers.
Threat of new substitutes: The threat of new substitutes is high due to the continuous innovation and development of novel stroke prevention and treatment devices.
Competitive rivalry: The competitive rivalry is high among the key global players due to their large product portfolios and strong geographical presence across major markets.
SWOT Analysis
Strengths: Availability of advanced ischemic stroke devices, increasing prevalence of ischemic strokes, growing demand for minimally invasive procedures.
Weaknesses: High costs associated with treatments, lack of awareness in developing nations, risks and complications associated with surgeries.
Opportunities: Emergence of bioabsorbable stents and drug-coated balloons, growth opportunities in developing markets, rising healthcare expenditure.
Threats: Stringent regulatory approvals, reimbursement issues, increasing product recalls.
Key Takeaways
The global AIS market is expected to witness high growth over the forecast period owing to the rising geriatric population at risk of strokes and increasing preference for minimally invasive procedures. The global Acute Ischemic Stroke (AIS) Market is estimated to be valued at US$ 9,211.99 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030.
The North American region currently dominates the market and is expected to grow at a steady rate through 2030. Asia Pacific region is poised to show lucrative growth prospects owing to rapidly developing healthcare infrastructure, growing medical tourism, and large patient population base particularly in China, India and Japan.
Key players operating in the AIS 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 major players are focusing on new product launches, partnerships, and regional expansion to strengthen their market presence.
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