May 21, 2024

Fibrinolytic Therapy Market is witnessing trends in technology innovation by artificial intelligence

The fibrinolytic therapy market involves the use of medicines that help dissolve blood clots or fibrin deposits in arteries and veins. This market involves medicines such as tissue plasminogen activator and streptokinase that help break down clots and restore blood flow to tissues and organs. These medicines are used to treat conditions like pulmonary embolism, deep vein thrombosis, and ischemic stroke.

 The global fibrinolytic therapy market is estimated to be valued at US$ 34.96 Bn in 2024 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030.

Key players operating in the fibrinolytic therapy market are Genentech, Inc. (Roche), Bayer AG, Boehringer Ingelheim International GmbH, Pfizer Inc., Bristol Myers Squibb Company, Novartis AG, AstraZeneca PLC, Johnson & Johnson, Daiichi Sankyo Company, Limited, Merck & Co., Inc., Sanofi S.A., Takeda Pharmaceutical Company Limited, Abbott Laboratories, Mallinckrodt Pharmaceuticals, Mitsubishi Tanabe Pharma Corporation. These key players are focusing on innovative technologies like artificial intelligence to better target blood clots and minimize adverse effects.

The growing incidences of conditions like stroke, pulmonary embolism, and deep vein thrombosis are increasing the demand for fibrinolytic therapies globally. As per estimates, over 13 million people suffer a stroke annually worldwide. Moreover, the growing geriatric population which is more prone to such conditions is further fueling market growth. The market is also witnessing increased adoption in developing regions due to improving healthcare infrastructure and awareness.

Globally, North America dominates the fibrinolytic therapy market due to the significant incidences of cardiovascular diseases and strong reimbursement structure in the region. However, the market in Asia Pacific is expected to grow at a high CAGR during the forecast period with growing medical tourism and focus on prevention and treatment of cardiovascular diseases in countries like China and India.

One of the key trends in the fibrinolytic therapy market is the increased adoption of artificial intelligence tools to better analyze clot composition and flow and to determine appropriate treatment strategies. AI helps increase treatment efficacy and improves patient outcomes by selecting the right fibrinolytic agent and dose tailored to individual patient needs. This minimizes adverse effects and speeds up recovery times.

Porter’s Analysis
Threat of new entrants: The fibrinolytic therapy market requires huge R&D investment and strict regulations make it difficult for new companies to enter the market.

Bargaining power of buyers: There are many established players in the market providing fibrinolytic therapy drugs for different indications. This gives buyers more power to negotiate on price.

Bargaining power of suppliers: Major suppliers of raw materials include cellculture media suppliers and enzyme manufacturers. Suppliers have moderate bargaining power due to availability of substitutes.

Threat of new substitutes: Alternate antiplatelet and anticoagulant drugs provide competition but do not effectively replace fibrinolytic therapy drugs.

Competitive rivalry: Large multinational pharmaceutical companies dominate the market.

Geographical Regions
North America accounts for the largest share of the fibrinolytic therapy market, valued at US$ 12 Bn in 2024 owing to high diagnosis and treatment rates in the region.

The Asia Pacific market is poised to be the fastest growing region during the forecast period attributed to rising healthcare investments, developing infrastructure and growing medical tourism in countries like India and China.

Geographical Regions
North America accounts for the largest share of the fibrinolytic therapy market, valued at US$ 12 Bn in 2024 owing to high diagnosis and treatment rates in the region.

The Asia Pacific market is poised to be the fastest growing region during the forecast period attributed to rising healthcare investments, developing infrastructure and growing medical tourism in countries like India and China.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it