May 21, 2024
Tissue Plasminogen Activator Market

The Tissue Plasminogen Activator Market Is Driven By Increasing Incidence Of Cardiovascular Diseases

Tissue plasminogen activator (TPA) is a fibrinolytic agent that is used for the treatment of ischemic stroke and pulmonary embolism. TPA dissolves blood clots by breaking down plasminogen into plasmin through binding with fibrin in a blood clot. Ischemic stroke is a major health issue that occurs when blood flow to the brain is blocked by a clot. Without timely treatment, brain cells undergo severe damage. TPA helps restore blood flow by dissolving the clot and reducing potential disability. It has been proven effective if administered within 3-4.5 hours of the onset of stroke symptoms. The global TPA market has witnessed significant growth due to rising incidence of cardiovascular diseases such as myocardial infarction and deep vein thrombosis that further increase the risk of pulmonary embolism.

The global Tissue Plasminogen Activator Market is estimated to be valued at US$ 2.58 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

One of the key trends in the tissue plasminogen activator market is the increasing preference for thrombolytic therapy over mechanical thrombectomy. Thrombolytic therapy uses drugs like tissue plasminogen activator that dissolves blood clots without invasive procedures. It helps restore blood flow and reperfuse the brain faster than other surgical options. Additionally, drugs used in thrombolytic therapy are relatively less costly as compared to mechanical thrombectomy. This has boosted the adoption of thrombolytic drugs among healthcare providers for the treatment of acute ischemic strokes.

Porter’s Analysis

Threat of new entrants: The tissue plasminogen activator market faces moderate threat from new entrants due to huge capital requirements for developing novel therapies and treatments.

Bargaining power of buyers: Healthcare providers and patients possess moderate bargaining power due to availability of alternative treatment options.

Bargaining power of suppliers: Major players producing tissue plasminogen activator hold significant power over buyers due to availability of limited production facilities and patents.

Threat of new substitutes: Threat from new substitutes is low as tissue plasminogen activator offers distinct advantages over other alternatives in treating strokes and heart attacks.

Competitive rivalry: Global tissue plasminogen activator market witnesses intense competition due to presence of major established players.

Key Takeaways

The global Tissue Plasminogen Activator Market Share is expected to witness high growth over the forecast period. The global Tissue Plasminogen Activator Market is estimated to be valued at US$ 2.58 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.

Regional analysis North America dominates the global tissue plasminogen activator market and is expected to continue its dominance over the forecast period. High prevalence of strokes and heart attacks along with rising initiatives to spread awareness are fueling market growth in the region.

Key players operating in the tissue plasminogen activator market are Bayer AG, Boehringer Ingelheim International GmbH, Genentech, Sun Pharmaceutical Industries Ltd, and Cadila Healthcare Ltd.

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