Tissue plasminogen activator (tPA) is a thrombolytic drug used to treat myocardial infarction and ischemic stroke. It works by breaking down blood clots and restoring blood flow to blocked arteries. tPA has advantages over other thrombolytic drugs as it provides faster recovery, reduces disability, and improves quality of life. The increasing risk of cardiovascular diseases due to changing lifestyle and aging population has fueled the demand for tPA globally.
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 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of cardiovascular diseases is one of the key drivers of the tissue plasminogen activator market. Cardiovascular diseases have become one of the leading causes of death and disability worldwide. According to the World Health Organization, cardiovascular diseases accounted for over 17.9 million deaths in 2019, representing 32% of all global deaths. The increasing risk factors such as sedentary lifestyle, obesity, and consumption of tobacco and alcohol have significantly contributed to the growing burden of cardiovascular diseases. As tissue plasminogen activator is primarily used for the treatment of heart attacks and strokes, the rising incidences of such diseases have accelerated the demand for tPA drugs over the last few years.
Segment Analysis
The global tissue plasminogen activator market is segmented based on application into thrombotic disease, pulmonary embolism, acute myocardial infarction, ischemic stroke, and others. The ischemic stroke sub segment accounts for the largest share in the market currently due to the increasing incidence of ischemic strokes among the elderly population globally. The thrombolysis using tissue plasminogen activator is one of the standard treatments for ischemic strokes, which is driving the growth of this sub segment.
Key Takeaways
The global Tissue Plasminogen Activator Market Share is expected to witness high growth over the forecast period of 2023 to 2030. 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 6.1% over the forecast period 2023 to 2030.
Regional analysis indicates North America will continue dominating the market due to supportive government policies and reimbursement structure for treatments related to cardiovascular diseases and strokes. Additionally, the rising prevalence of heart attacks and strokes mainly in the US and Canada is supporting market growth.
Key players operating in the tissue plasminogen activator market are Boehringer Ingelheim, Emcure Pharmaceuticals, Genentech, and Merck & Co. Genentech holds a significant share in the market owing to its popular brand Activase indicated for ischemic stroke and myocardial infarction. The firm has a strong geographical presence and brand recognition.
For more insights, read- https://www.newsanalyticspro.com/tissue-plasminogen-activator-market-trends-size-and-share-analysis/
Comments
0 comment