Market Trends of Catheter-Directed Thrombolysis Industry
This section covers the major market trends shaping the Catheter-Directed Thrombolysis Market according to our research experts:
Stroke Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The stroke segment is anticipated to garner a substantial market share over the forecast period.
Factors such as the increasing prevalence of strokes and product developments are expected to boost the segment's growth. Moreover, the increasing prevalence of heart disease that might lead to stroke is one of the key factors in the segmental growth. For instance, the BHF report released in July 2021 estimated that over 7.6 million people in the United Kingdom are affected by heart and circulation disorders. Additionally, according to Blood Pressure Association research from June 2021, around 6 million people in the United Kingdom have high blood pressure and are unaware of it. As a result, rising cases of underlying causes are expected to drive segment growth, as these patients are at a higher risk of stroke and surgery.
Similarly, according to the September 2021 update from the CDC, hypertension significantly increases the risk for heart disease and stroke, and about 116 million adults in the United States have hypertension, of which about 37 million have uncontrolled hypertension. This factor signifies the high prevalence of associated risk factors, which is expected to impact the growth of the segment studied positively.
Product development is another factor impacting the segment's growth. For instance, in July 2022, ETH spin-off Nanoflex developed a magnetically steerable catheter for quick and safe stroke treatment that no longer requires surgeons to be on site. The catheter tip is bent in any direction due to a magnetic head and is also smaller, more maneuverable, and safer due to the softness of the material.
Thus, these factors mentioned above, such as product developments and an upsurge in the underlying causes of stroke, are expected to provide segmental growth over the forecast period.
North America Dominates the Market and Expected to continue in the Forecast Period
North America is projected to have a significant market share over the forecast period owing to favorable reimbursement policies and the availability of well-established healthcare infrastructure. In addition, the burden of cardiac patients and technological advancements in devices to produce better clinical outcomes are driving market growth in the region.
For instance, according to the April 2022 update of the CDC, about 795,000 cases of stroke are reported in the United States every year, of which 610,000 are first or new strokes. Further, of all reported stroke cases, approximately 87% are ischemic strokes, in which blood flow to the brain is blocked. According to the January 2022 update from the CDC, stroke or cerebrovascular disease is one of the major health concerns in the United States, with about 2.2 million visits to physicians' offices with stroke as a primary diagnosis and about 7.8 million adults who have ever had a stroke in the country. Additionally, as per the February 2022 report from the Heart and Stroke Foundation of Canada, 750,000 people were living with heart failure, and 100,000 people were diagnosed with this incurable condition each year in the country. It is projected that by 2030, the healthcare costs associated with heart failure in Canada will reach up to USD 2.8 billion per year.
Increasing clinical trials is another factor driving the market's growth. For instance, in April 2022, Microvention-Terumo, Inc. initiated a clinical trial to evaluate the safety and performance of the BOBBY Balloon Guide Catheter (BGC) in patients with an acute ischemic stroke, a sudden reduction or termination of the blood circulation of the brain caused by a clot. Such clinical trials are expected to provide suitable proof for the advantages of the catheter in stroke patients, which is expected to increase regional growth over the forecast period.
