by Report Overview:
The global Tissue Plasminogen Activator Market is estimated to be valued at US$ 2.58 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tissue plasminogen activator (tPA) is a protein involved in the breakdown of blood clots. Intravenous administration of tPA has been reported to be highly effective in the treatment of ischemic stroke and pulmonary embolism when administered within specific time windows. The need for quick response medication to treat life-threatening conditions such as stroke and pulmonary embolism is driving the growth of the tPA market.
Market key trends:
Increasing prevalence of stroke and pulmonary embolism is expected to drive the tissue plasminogen activator market growth over the forecast period. According to World Stroke Organization, over 17 million people suffer a stroke every year worldwide. Pulmonary embolism affects around 1-2 individuals per 1000 people annually. Greater awareness about early diagnosis and treatment of these conditions has increased the demand for tPA drugs in hospitals and clinical settings.
Segment Analysis
The global Tissue Plasminogen Activator Market Size is segmented by type, application, route of administration, end-user, and region. Based on type, the market is segmented into alteplase, reteplase, and tenecteplase. Currently, alteplase dominates the market as it is the only drug approved to treat strokes and heart attacks.
Key Takeaways
The global tissue plasminogen activator market size is expected to reach US$ 2.58 Bn in 2023, projecting to grow at a CAGR of 5.2% during the forecast period of 2023-2030.
Regional Analysis
Geographically, North America is expected to dominate the global market during the forecast period owing to the strong presence of key players and increasing awareness regarding clinical applications of tissue plasminogen activators in the region. Europe is also expected to hold a significant market share during the forecast period. Asia Pacific region is expected to exhibit the highest CAGR over the forecast period due to rising healthcare spending in countries such as India and China.
Key Players
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. F. Hoffmann-La Roche AG and Boehringer Ingelheim GmbH are expected to hold majority market share owing to their diverse product portfolio and strong geographical presence across the globe.
Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
