Market Overview:
Tissue plasminogen activator (tPA) is a thrombolytic agent used for the treatment of ischemic stroke and pulmonary embolism. It works by breaking down blood clots and restoring blood flow. tPA is administered through intravenous injection and must be given within 3-4.5 hours of the onset of symptoms to be effective. Common indications include myocardial infarction, pulmonary embolism and ischemic stroke. It has become the standard of care for treatment of acute ischemic stroke.
Market Dynamics:
The Tissue Plasminogen Activator Market Size is driven by the increasing prevalence of cardiovascular diseases and rising awareness about stroke management. Cardiovascular diseases have become one of the leading causes of mortality globally. According to World Health Organization (WHO), cardiovascular diseases cause over 17.9 million deaths worldwide every year, representing 32% of all global deaths. Stroke is the second leading cause of death globally and a leading cause of adult disability. Growing geriatric population is also fueling the demand for tissue plasminogen activator as risk of cardiovascular diseases and stroke increases with age. Moreover, increasing approval of new formulations of tPA drugs and rising availability of advanced treatments are boosting market growth. For instance, in 2019, Reliance Life Sciences commercially launched India’s first recombinant tissue plasminogen activator drug for treatment of acute ischemic stroke.
Segment Analysis
The global tissue plasminogen activator market is dominated by recombinant tissue plasminogen activator sub segment. Recombinant tPA is obtained through recombinant DNA technology and it has the same amino acid sequence and coagulation properties as naturally occurring tPA. It is widely used for treatment of ischemic stroke and myocardial infarction as it helps in dissolving blood clots quickly.
PEST Analysis
Political: The regulations around approval of new drugs and clinical trials influence the tissue plasminogen activator market. The governments providing funding support drug innovation.
Economic: The rising healthcare spending and increasing prevalence of cardiovascular diseases and stroke incidents are fueling market growth.
Social: Growing awareness about various treatment options for heart attacks and strokes positively impact the demand.
Technological: Continuous research in drug development and new product launches with improved efficacy and safety are expanding business opportunities.
Key Takeaways
The global tissue plasminogen activator market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing prevalence of cardiovascular diseases and strokes. The U.S. holds the major share in the North America region due to strong healthcare infrastructure and spending. China is the fastest growing market in Asia Pacific attributed to large patient pool and improving healthcare facilities. Key players operating in the tissue plasminogen activator market are F. Hoffmann-La Roche AG, Boehringer Ingelheim GmbH, CHIESI Farmaceutici S.p.A., Gennova Biopharmaceuticals Ltd, Abbott Laboratories, and Reliance Life Sciences. Key players are focusing on new product development and business expansion strategies to strengthen their market position.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
