FIBRINOLYTIC THERAPY MARKET ANALYSIS

Market Challenges And Opportunities

However, the high cost of fibrinolytic therapy and the risk of complications that are associated with the therapy are restraining the market growth.

Global Fibrinolytic Therapy Market Drivers

• Increasing incidence of cardiovascular diseases: The increasing incidence of cardiovascular diseases across the globe is a major factor fueling the growth of the global fibrinolytic therapy market. Cardiovascular diseases have become one of the leading causes of deaths worldwide. For instance, in 2022, according to the data published by World Health Organization (WHO), cardiovascular diseases account for over 17.9 Mn deaths every year, which is approximately 32% of all global deaths. The prevalence of cardiovascular ailments such as deep vein thrombosis, pulmonary embolism, and strokes has risen considerably over the years due to the growing geriatric population and lifestyle changes such as sedentary routines, unhealthy diets, and rising stress levels.
• Growing geriatric population: Fibrinolytic therapy plays a key role in effective treatment of acute myocardial infarction and stroke caused by blood clots. As more people advances in age, their vulnerability to cardiovascular diseases increases. According to World Health Organization (WHO), cardiovascular diseases are estimated to remain the single leading cause of death globally in 2030. The growing risk of heart attacks and strokes in the geriatric population is a major factor driving the demand for fibrinolytic drugs and therapies. Several new medications and treatment regimens have been introduced in the recent past to specifically address the needs of older patients. The global population is aging rapidly and people are living longer than ever before. According to the data published in 2023 by United Nations Population Fund (UNFPA), the number of persons aged 60 years or over is expected to more than double by 2050 and triple by 2100.
• Technological advancements: The development of innovative fibrinolytic agents and delivery systems has improved the effectiveness and safety profile of fibrinolytic therapy. Newer thrombolytic drugs with enhanced fibrin specificity and reduced bleeding complications have been introduced, thus increasing the acceptance and utilization of fibrinolytic therapy in clinical practice.
• Access to healthcare facilities: Improved access to healthcare facilities, especially in developing regions facilitated the availability and administration of fibrinolytic therapy. Efforts to enhance healthcare infrastructure, expand medical insurance coverage, and increase awareness about the benefits of timely treatment have positively influenced the fibrinolytic therapy market.

Global Fibrinolytic Therapy Market Opportunities

• Emerging markets: There is a significant opportunity for the fibrinolytic therapy market to expand in emerging markets, particularly in regions with a high burden of cardiovascular diseases and limited access to advanced treatment options. As healthcare infrastructure improves and awareness about cardiovascular diseases increases in these regions, the demand for fibrinolytic therapy is likely to rise.
• Combination therapies: Combination therapies involving fibrinolytic agents and other treatment modalities, such as antiplatelet drugs or anticoagulants, are being explored to enhance the efficacy and safety of treatment for cardiovascular diseases. These synergistic approaches have the potential to create new opportunities in the fibrinolytic therapy market, especially for companies that can develop effective combination therapies.
• Telemedicine and remote treatment: The adoption of telemedicine and remote healthcare services has accelerated due to the COVID-19 pandemic. This presents an opportunity for the fibrinolytic therapy market to leverage telemedicine platforms for remote consultation and monitoring of patients those who are receiving fibrinolytic therapy. Remote treatment options can improve access to care, especially in underserved areas, and thereby enhance patient convenience.
• Personalized medicine: Advancements in genomic research and precision medicine offer opportunities for personalized fibrinolytic therapy. Genetic factors can influence the response to fibrinolytic agents, and tailoring treatments which are based on individual genetic profiles can optimize therapy outcomes. The development of genetic tests and biomarkers that can predict treatment response which can open up new avenues in the fibrinolytic therapy market.

Global Fibrinolytic Therapy Market Restraints

• Limited efficacy in certain patient populations: Fibrinolytic therapy may have limited efficacy in specific patient populations, such as those with large or organized clots, advanced age, or comorbidities. These factors can reduce the effectiveness of fibrinolytic agents and limit their ability to restore blood flow adequately. In such cases, alternative treatment modalities like interventional procedures may be preferred, thus impacting the demand for fibrinolytic therapy.
• Risk of bleeding complications: Fibrinolytic therapy carries a risk of bleeding complications, including major bleeding events. The use of fibrinolytic agents increases the risk of systemic hemorrhage, which can be life-threatening. This risk restricts the use of fibrinolytic therapy in certain patient populations, such as those with an increased propensity for bleeding or surgery. The concern over bleeding complications may lead to cautious adoption and utilization of fibrinolytic therapy.
• Availability of alternative treatment modalities: The availability of alternative treatment modalities, such as percutaneous coronary intervention (PCI) for myocardial infarction and endovascular thrombectomy for ischemic stroke, poses a restraint on the fibrinolytic therapy market. These interventions offer more direct and precise clot removal, thereby potentially yielding better outcomes in certain cases. The increasing adoption of these alternative procedures may limit the use of fibrinolytic therapy, particularly in regions with better access to interventional facilities.
• Time sensitivity and door-to-needle delays: Fibrinolytic therapy is most effective when administered promptly after the onset of symptoms. However, delays in seeking medical care and the time required for diagnostic evaluations can result in prolonged "door-to-needle" times. Achieving optimal treatment times can be challenging in various settings, such as rural areas, where access to healthcare facilities may be limited. Delayed initiation of fibrinolytic therapy can impact its effectiveness and limit its applicability.