Ireland stroke treatment market is expected to grow at steady rate an impressive rate during the forecast period on account of rising prevalence of cardiovascular diseases, hypertension, and blood clot formation. For instance, according to the research article, in 2020, 1641 Irish people died after suffering a heart attack in which 999 were men, and 642 were women. Furthermore, the increasing disease burden has led to surge in the demand of different drugs used for medication, which is expected to bolster the growth of the Ireland stroke treatment market. These factors are actively driving the growth of the Ireland stroke treatment market in the upcoming five years, 2024-2028.
One of the key drivers of growth in the Ireland stroke treatment market is the rise in geriatric population. According to National Institute of Health, the prevalence of the four main categories of chronic diseases among adults in Ireland has been estimated to be 9.4% for asthma, 9.8% for chronic obstructive pulmonary disease (COPD), 5.2% for diabetes, and 4.3% for CVDs. Another factor driving growth in the Ireland stroke treatment market is the increase in healthcare expenditure. According to the World Bank, in 2020 Ireland spent EUR 26.5bn on their healthcare infrastructure, equivalent to 7.1% of GDP. This was an 11.3% increase over the level of spending in 2019, which is explained by the additional costs due to COVID-19. The government has made healthcare a priority and has allocated significant resources to improve healthcare investment and services. This has created a favorable environment for pharmaceutical companies, with a growing demand for preventing blot clotting drugs and other methods.
Additionally, the manufacturers in the stroke treatment market are introducing reversal drug agent that reduces the prevalence of life-threatening or uncontrolled bleeding in patients. The healthcare providers are trying to increase their focus on non-pharmacological options such as percutaneous left atrial appendage occlusion for patients suffering for atrial fibrillation.
Furthermore, the ongoing research and development of technology in the production of treatment is expected to aid the growth of the Ireland stroke treatment market in the forecast period, 2024-2028. Moreover, the government also supports the idea by increasing investment in the pharmaceutical sector and the pharmaceutical companies are forced to manufacture stroke treatment products in Ireland to bolster the growth of Ireland stroke treatment market.
Recent Developments
In 2017, a company namely, Sanofi had received the FDA approval for PLAVIX (clopidogrel bisulfate). This is an antiplatelet medication used to reduce the risk of heart disease and stroke. This is a prescription drug of a platelet inhibitor used to reduce the risk of myocardial infarction and stroke.
In December 2017, a company namely, Bristol Myers Squibb company and Pfizer Alliance along with the National Stroke Association and iHeart Media had launched Tune into Afib, Take note of stroke risk. This is an initiative taken to create awareness among people living with atrial fibrillation (AFib) about the increased risk of stroke.
Additionally, in April 2016, Bristol Myers Squibb company is linked in with Janssen Pharmaceuticals to develop and launched a factor Xia (FXIa) Inhibitor. It is an anticoagulant drug use for the medication of thrombotic events.
Rising Prevalence of Cardiovascular Diseases
Heart disease is the leading cause of death in Ireland. Last year, 8,744 people across the country died from heart disease and stroke. According to the research article, an Irish heart and stoke charity, Irish women are 7 times more likely to die from heart disease than from breast cancer. However, heart diseases are mostly associated with coronary heart disease, caused by a buildup of plaque in the arteries of the heart. When this plaque ruptures like a blister, a clot can form and ultimately cause a heart attack. Moreover, 80% of heart disease that develops at a young age can be prevented by addressing lifestyle issues that are commonly called as “risk factors.” High blood pressure, smoking, high cholesterol levels, and diabetes are among the factors that make us more susceptible to developing heart diseases. Many of these risk factors often go undiagnosed and therefore untreated. With heart disease being the leading cause of death in Ireland, it is boosting the growth of Ireland stroke treatment market. According to National Institute of Health, it is estimated that almost one million people are affected by one of the four main categories of chronic disease, such as cardiovascular disease, chronic obstructive pulmonary disease, asthma, and diabetes. This is ascribed due to change in lifestyle, rise of fat in diet, overeating, and downfall in regular exercises. Chronic diseases like cardiovascular diseases, cancer, and neurological disorders are driving the growth of Ireland stroke treatment market.
Cardiovascular diseases are the leading cause of death in Ireland, accounting for approximately 30% of all deaths. According to the research articles, health experts say at least 50 percent of heart attack patients in the Ireland are under the age of 50, as doctors warn obesity and sedentary lifestyles. These are creating a generation prone to cardiovascular disease. The incidence of cardiovascular diseases is expected to rise further in Ireland due to an aging population, unhealthy lifestyles, and hypertension. As a result, there is a growing need for effective treatments for cardiovascular diseases in Ireland, including drugs that can help regulate blood pressure, reduce cholesterol levels, prevent blood clots, and improves heart function as well. Moreover, the advancement in public health and medicine, communicable diseases remain a major threat to human health which in turn responsible for the growth of Ireland stroke treatment market.
Rise in Geriatric Population
In Ireland, an estimated 6,000 people have a heart attack. Many heart attacks that lead to death are preventable. This is because most of the risk factors can also be prevented. For instance, most heart attacks occur in people who are over 45 years of age. Men are two to three times more likely to have a heart attack than women. According to Irish Longitudinal Study on Ageing, the projected number of people aged 65 and over in 2011 is 535,716, or 11.4 per cent of the total population. The number of those aged 80 and over is expected to rise by 45 per cent over the next ten years from 130,598 (2.8 per cent of the population) in 2011 to 189,051 (3.5 per cent of the population) in 2021. This in turn propels the growth of Ireland stroke treatment market.
Government Support & Initiatives
Ireland has put in place several programmes to encourage the use of stroke treatment in the nation's healthcare system. These programmes seek to lower healthcare costs, enhance patient outcomes, and promote access to affordable, high-quality treatment. The health (Pricing and Supply of Medical Goods) Act 2013, which introduced a system of reference pricing and generic replacement in Ireland, was one of the first substantial measures. In accordance with this system, the cost of a drug is determined by comparison to the cost of the drug with the lowest price among a group of interchangeable goods. As a result, pharmacies are encouraged to dispense the cheapest stroke treating drugs. Government support and initiatives play a crucial role in the growth of the stroke treatment market in Ireland. They provide a framework and resources to address the challenges and drive improvements in stroke care. The government establishes policies and guidelines specifically focused on stroke prevention, treatment, and rehabilitation. These policies provide a strategic direction for healthcare providers, outline quality standards, and drive the allocation of resources. By setting clear expectations and standards, the government creates an enabling environment for the growth of Ireland stroke treatment market.
Additionally, the government plays a crucial role in raising public awareness about stroke symptoms, risk factors, and the importance of seeking immediate medical attention. Public awareness campaigns educate the population on recognizing stroke signs, calling emergency services, and accessing timely treatment. By promoting public awareness, the government facilitates early intervention and fosters a culture of stroke prevention, leading to increased demand for the growth of Ireland stroke treatment market.
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Market Segmentation
The Ireland stroke treatment market is segmented by type, application, distribution channel, regional distribution, and competitional landscape. Based on type, the market is further bifurcated into diagnostics and therapeutics. Based on diagnostics, the market is bifurcated into magnetic resonance imaging, carotid ultrasound, cerebral angiography, echocardiography, and others. Based on therapeutics, the market is bifurcated into anticoagulant, antiplatelet, and antihypertensive. Based on application, the market is segmented into ischemic stroke and hemorrhagic stroke. Based on distribution channel, the market is bifurcated into hospital pharmacies, retail pharmacies, online pharmacies, and others.
Market Players
Boston Scientific Corporation Ireland Ltd., B. Braun Ireland Limited, Bristol Myers Squibb Co., Cardinal Health Ireland Limited, GlaxoSmithKline Ireland, Abbott Ireland Limited, Medtronic Ireland Ltd., Merck Serono Limited, Johnson & Johnson Ireland Limited, and Siemens Ireland Limited are some of the leading companies operating in the Ireland stroke treatment market.
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Attribute
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Details
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Base Year
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2022
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Historical Years
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2018 – 2022
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Estimated Year
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2022E
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Forecast Period
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2023F – 2028F
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Quantitative Units
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Revenue in USD Million,
Volume in Units, and CAGR for 2017-2021 and 2022E-2028F
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Report Coverage
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Revenue forecast, volume
forecast, company share, competitive landscape, growth factors, and trends
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Segments Covered
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Type
Application
Distribution Channel
Region
Company
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Region Scope
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Northern Ireland,
North-West, West, Midland East, Dublin, Shannon, South-East, Cork-Kerry
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Key Companies Profiled
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Boston Scientific
Corporation Ireland Ltd., B. Braun Ireland Limited, Bristol Myers Squibb Co.,
Cardinal Health Ireland Limited, GlaxoSmithKline Ireland, Abbott Ireland
Limited, Medtronic Ireland Ltd., Merck Serono Limited, Johnson & Johnson
Ireland Limited, Siemens Ireland Limited
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Customization Scope
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10% free report
customization with purchase. Addition or alteration to regional & segment
scope.
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Pricing and Purchase
Options
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Avail customized
purchase options to meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
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Report
Scope:
In this report,
Ireland stroke treatment market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
- Ireland Stroke Treatment Market, By
Type:
o
Diagnostics
o
Therapeutics
- Ireland Stroke Treatment Market, By
Diagnostics:
o
Magnetic
Resonance Imaging
o
Carotid
Ultrasound
o
Cerebral
Angiography
o
Echocardiography
o
Others
- Ireland Stroke Treatment Market, By
Therapeutics:
o Anticoagulant
o Antiplatelet
o Antihypertensive
- Ireland Stroke Treatment Market, By
Application:
o
Ischemic
Stroke
o
Hemorrhagic
Stroke
- Ireland Stroke Treatment Market, By
Distribution Channel:
o Retail Pharmacy
o Hospital Pharmacy
o Online Pharmacy
- Ireland Stroke Treatment Market, By
Region:
o
Northern
Ireland
o
North-West
o
West
o
Midland
East
o
Dublin
o
Shannon
o
South-East
o
Cork-Kerry
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in Ireland stroke treatment market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
Detailed
analysis and profiling of additional market players (up to five).
Ireland
Stroke Treatment Market is an upcoming report to be released soon. If you wish
an early delivery of this report or want to confirm the date of release, please
contact us at [email protected]