Acute Ischemic Stroke Therapeutics Market

Acute Ischemic Stroke Therapeutics Market Size (2023 to 2028)

The acute ischemic stroke therapeutics market size is predicted to grow from USD 1.6 billion in 2023 to USD 2.06 billion by 2028, growing at a CAGR of 5.2% from 2023 to 2028.

Impact of Covid-19 on the Acute Ischemic Stroke Therapeutics Market:

Acute ischemic stroke (AIS) is the fourth leading cause of death and the leading cause of adult disability in the USA. Acute ischemic stroke is also known as brain ischemia or cerebral ischemia. This stroke is caused when a blockage occurs in an artery supplying blood to the brain. Ischemic stroke is characterized by the sudden loss of blood circulation to an area of the brain, resulting in a corresponding loss of neurologic function. This blockage can emerge at the neck or in the skull and is also called a clot or plaque. Acute ischemic stroke is caused by thrombotic or embolic occlusion of a cerebral artery and is more common than hemorrhagic stroke. Acute Ischemic stroke can affect persons of all ages.

Covid-19 has significantly impacted the overall healthcare industry. Covid-19 has a significant impact on the acute ischemic stroke therapeutics market. Amidst the initial outbreak of COVID-19, reduced hospital admissions of stroke patients were observed. It was due to the reason that people feared the infection during a period of distancing and lockdown. Various regions reported the reduction in acute stroke admission in the hospital indicating that many patients with moderate and severe stroke were also avoiding the hospital presentation. For instance, according to the data of the National Institute of Health, in central and south Texas, the patient admission, treatment, and discharge volumes for acute stroke treatment have decreased significantly since COVID-19-related lockdown orders were issued. The demand for diagnostic devices of stroke and monitoring devices was reduced. Hence, the impact of COVID-19 on the Acute Ischemic Stroke Therapeutics Market was negative. This was attributed to decreased demand for diagnostic devices for stroke disease. Moreover, market players have reduced investment in raw materials and resources, owing to a decrease in the number of hospital admission of stroke patients.

Market Drivers:

The key factor that drives the acute ischemic stroke therapeutics market is the significant increase in the prevalence of stroke across the globe. This is expected to propel the global market growth. This is due to the increased sedentary lifestyle which is leading to cause increase in ischemic stroke. The geriatric population is more prone to have this disease too. The increase in the geriatric population is leading to an increase in the number of acute ischemic strokes. Both these reasons the increased sedentary lifestyle in adults and the increase in geriatric population are driving the acute ischemic stroke therapeutics market.

The market's growth rate will be increased during the forecast period because of consumers growing demand for non-invasive diagnostic techniques or minimally invasive techniques. The market for acute ischemic stroke therapeutics market is being fuelled by the growing acceptance of non-invasive diagnostic techniques. Furthermore, the rising focus of manufacturers operating to develop innovative and novel acute ischemic stroke diagnostic systems will be a major factor influencing the growth of the Acute Ischemic Stroke Therapeutics Market.

The expansion of the healthcare sector contributes to the expansion of the Acute Ischemic Stroke Therapeutics market. The created devices are more precise and simpler to operate thanks to the utilization of emerging technologies. Technological developments are leading to creating a way for easy surgical procedures which makes the efficient result and faster completion of the procedure. Hence all these factors are driving the acute ischemic stroke therapeutics market.

Market Restraints:

One of the major restrictions that decrease the growth of the acute ischemic stroke therapeutics market is the high cost of treatment. The high cost of the associated surgical procedures will restrict the acute ischemic stroke therapeutics market's growth rate. An unfavorable reimbursement scenario will also function as a significant market restraint and slow the market's growth rate. Unmet needs for anticoagulant reversal agents may impede the acute ischemic stroke therapeutics market growth. Anticoagulants are important in treating AIS, but they are sometimes associated with side effects such as excessive bleeding. The side effects can be reversed using reversal agents, which are referred to as antidotes for anticoagulants. The antidotes available in the market include vitamin K, protamine, and prothrombin complex concentrates, which reverse the action of warfarin and heparin. Though NOACs (novel oral anticoagulants) show better safety and efficacy profiles, the acceptability of these drugs is low due to the unavailability of antidotes in the market.

Report Coverage:

This research report on the Acute Ischemic Stroke Therapeutics Market has been segmented and sub-segmented based on the technology, end-user, and region.

Global Acute Ischemic Stroke Therapeutics Market – By Therapeutics:

• Tissue Plasminogen Activator
• Anticoagulant
• Antiplatelet
• Antihypertensive

Among these, the Tissue Plasminogen activator segment dominates the acute ischemic stroke therapeutics market. The Tissue type Plasminogen Activator is a blood factor/protein orchestrating the breakdown of blood clots and it is exogenously administered in a recombinant form in ischemic stroke patients to aid the endogenous fibrinolytic processes in dissolving the clot. When administered quickly after stroke onset (within three hours, as approved by the FDA), tPA helps to restore blood flow to brain regions affected by a stroke, thereby limiting the risk of damage and functional impairment. Because of its quick response to treatment, this segment dominates the market.

Global Acute Ischemic Stroke Therapeutics Market– By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacy

Among these, the Hospital pharmacy segment holds the largest share of the acute ischemic stroke therapeutics market. This segment is expected to show its dominance over the forecasting period.

Global Acute Ischemic Stroke Therapeutics Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

Regionally, North America dominates the Acute Ischemic Stroke Therapeutics market.  North America is one of the most developed regions in the world. The market in the region, therefore, witnesses the availability of various diagnostics and drugs for the treatment of stroke. Despite the increasing use of stroke therapeutics in this region, the market faces a tough challenge from alternative treatment options. Many major players in the market have a stronghold in North America, contributing to the distribution of ischemic stroke diagnosis and treatment for all other regions worldwide. Advanced healthcare infrastructure, well-equipped hospitals, and availability of point-of-care services are responsible for the maximum demand for drugs for stroke in the United States. Stroke is a condition where treatment must be given as early as possible after the onset of symptoms and hence the availability of quick treatment is a key factor responsible for the high survival rate in the United States. According to the statistics published by the Centers for Disease Control and Prevention (CDC) in April 2022, more than 795,000 Americans have strokes. From this 610,000 are found to be new cases each year. Statistics also showed that Stroke is one of the leading causes of death in the United States; every 40 seconds, someone from the United States has a stroke. This huge patient base and ease of accessing advanced treatment are responsible for the major share of the region across the globe.

Europe holds the second position in the acute ischemic stroke therapeutics market. This is due to the increased prevalence of patients suffering from ischemic stroke and the increased geriatric population in this region. Approximately 1.1 million inhabitants of Europe suffered a stroke each year, and ischemic stroke accounted for approximately 80% of cases. Although global stroke incidence is declining, rates observed in young adults are on the rise, thus suggesting a need for strategies to improve prevention.

Key Market Players:

Some market players in the Acute Ischemic Stroke Therapeutics Market are Johnson and Johnson, Pfizer, Boston Scientific, F. Hoffmann La Roche Ltd., Bayer, AstraZeneca, Sanofi, Merk and CO. Inc., Teva Pharmaceuticals Industry Ltd., Amgen Inc., SanBio CO. Ltd.

Recent Market Happenings:

• In May 2022, researchers at the Osaka Metropolitan University are studying robotic therapy as an effective therapy during the chronic stage of stroke recovery. If widely adopted, robot therapy could improve care for stroke patients while being cost-effective and requiring minimal therapeutic staff guidance.
• In April 2022, the United States National Institute of Health funded a USD 1.8 million project to use artificially grown, simplified mini-organs to create medicine that targets brain cells damaged by stroke. The project focuses on the creation of brain-like miniature organs, from which the particles naturally released could be harvested for medicine production.