FIBRINOLYTIC THERAPY MARKET ANALYSIS

Global fibrinolytic therapy market is projected to reach US$ 45.08 Bn by 2030, from US$ 34.96 Bn in 2023, at a compound annual growth rate (CAGR) of 3.7% during 2023-2030.

The market growth is driven by the increasing prevalence of cardiovascular diseases, such as acute myocardial infarction (AMI), stroke, and deep vein thrombosis (DVT). Rising demand for minimally invasive procedures and the increasing number of approvals for new fibrinolytic drugs are also driving the market growth.

However, the high cost of fibrinolytic therapy and the risk of complications that are associated with the therapy are restraining the market growth.

Global fibrinolytic therapy market is segmented into drug type, indication, end user, administration, distribution channel, patient age, packaging time, application, dosage form, and region. By drug type, the market is segmented into urokinase, streptokinase, alteplase, reteplase, tenecteplase, and anistreplase. The urokinase segment is expected to dominate the market during the forecast period. This is due to the high efficacy and safety of urokinase in the treatment of AMI and stroke.

Global Fibrinolytic Therapy Market Regional Insights

• North America is expected to dominate the market during the forecast period, with a market share of 42% in 2022. This is due to the high prevalence of cardiovascular diseases in the region, as well as the availability of advanced healthcare facilities.
• Europe is expected to be the second-largest market, with a market share of 28% in 2022. This is due to the rising prevalence of cardiovascular diseases in the region, as well as the increasing number of approvals for new fibrinolytic drugs.
• Asia Pacific is expected to be the fastest-growing market, with a CAGR of 4.5% during the forecast period. This is due to the increasing prevalence of cardiovascular diseases in the region, as well as the rising demand for minimally invasive procedures.

Figure 1. Global Fibrinolytic Therapy Market Share (%), By Region, 2023

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Analyst View of the Global Fibrinolytic Therapy Market:

Global fibrinolytic therapy market is expected to witness steady growth over the forecast period which is driven by the rising prevalence of cardiovascular diseases globally. Fibrinolytic therapy is widely used for treating conditions such as deep vein thrombosis (DVT), pulmonary embolism and arterial clots which remain major causes of mortality and morbidity. North America dominates the market due to developed healthcare infrastructure and faster adoption of new technologies. However, Asia Pacific is likely to emerge as the fastest growing market due  to large patient pool and improving access to healthcare in the region.

The market is also positively impacted by ongoing research and  development (R&D) of more effective next-gen fibrinolytic drugs. However, high costs associated with fibrinolytic drugs could hinder market growth to some extent. Further, gastrointestinal bleeding remains a major side effect and safety concern for certain fibrinolytic drugs which act as a restraint. Nonetheless, growing awareness about early diagnosis and treatment of cardiovascular conditions opens up opportunities for fibrinolytic therapy. Regulatory approvals for newer drug formulations offer avenues for growth in the near future.

While developed regions will continue dominating the market demand; focus on improving access to healthcare in developing countries provides attractive prospects for market stakeholders. Further innovation to develop safer and more efficacious drugs could help overcome challenges and sustain momentum in the fibrinolytic therapy market.

Global Fibrinolytic Therapy Market Drivers

• Increasing incidence of cardiovascular diseases: The increasing incidence of cardiovascular diseases across the globe is a major factor fueling the growth of the global fibrinolytic therapy market. Cardiovascular diseases have become one of the leading causes of deaths worldwide. For instance, in 2022, according to the data published by World Health Organization (WHO), cardiovascular diseases account for over 17.9 Mn deaths every year, which is approximately 32% of all global deaths. The prevalence of cardiovascular ailments such as deep vein thrombosis, pulmonary embolism, and strokes has risen considerably over the years due to the growing geriatric population and lifestyle changes such as sedentary routines, unhealthy diets, and rising stress levels.
• Growing geriatric population: Fibrinolytic therapy plays a key role in effective treatment of acute myocardial infarction and stroke caused by blood clots. As more people advances in age, their vulnerability to cardiovascular diseases increases. According to World Health Organization (WHO), cardiovascular diseases are estimated to remain the single leading cause of death globally in 2030. The growing risk of heart attacks and strokes in the geriatric population is a major factor driving the demand for fibrinolytic drugs and therapies. Several new medications and treatment regimens have been introduced in the recent past to specifically address the needs of older patients. The global population is aging rapidly and people are living longer than ever before. According to the data published in 2023 by United Nations Population Fund (UNFPA), the number of persons aged 60 years or over is expected to more than double by 2050 and triple by 2100.
• Technological advancements: The development of innovative fibrinolytic agents and delivery systems has improved the effectiveness and safety profile of fibrinolytic therapy. Newer thrombolytic drugs with enhanced fibrin specificity and reduced bleeding complications have been introduced, thus increasing the acceptance and utilization of fibrinolytic therapy in clinical practice.
• Access to healthcare facilities: Improved access to healthcare facilities, especially in developing regions facilitated the availability and administration of fibrinolytic therapy. Efforts to enhance healthcare infrastructure, expand medical insurance coverage, and increase awareness about the benefits of timely treatment have positively influenced the fibrinolytic therapy market.

Global Fibrinolytic Therapy Market Opportunities

• Emerging markets: There is a significant opportunity for the fibrinolytic therapy market to expand in emerging markets, particularly in regions with a high burden of cardiovascular diseases and limited access to advanced treatment options. As healthcare infrastructure improves and awareness about cardiovascular diseases increases in these regions, the demand for fibrinolytic therapy is likely to rise.
• Combination therapies: Combination therapies involving fibrinolytic agents and other treatment modalities, such as antiplatelet drugs or anticoagulants, are being explored to enhance the efficacy and safety of treatment for cardiovascular diseases. These synergistic approaches have the potential to create new opportunities in the fibrinolytic therapy market, especially for companies that can develop effective combination therapies.
• Telemedicine and remote treatment: The adoption of telemedicine and remote healthcare services has accelerated due to the COVID-19 pandemic. This presents an opportunity for the fibrinolytic therapy market to leverage telemedicine platforms for remote consultation and monitoring of patients those who are receiving fibrinolytic therapy. Remote treatment options can improve access to care, especially in underserved areas, and thereby enhance patient convenience.
• Personalized medicine: Advancements in genomic research and precision medicine offer opportunities for personalized fibrinolytic therapy. Genetic factors can influence the response to fibrinolytic agents, and tailoring treatments which are based on individual genetic profiles can optimize therapy outcomes. The development of genetic tests and biomarkers that can predict treatment response which can open up new avenues in the fibrinolytic therapy market.

Global Fibrinolytic Therapy Market Trends

• Shift towards newer fibrinolytic agents: There is a growing trend towards the use of newer fibrinolytic agents that offer improved efficacy and safety profiles. These agents often have enhanced fibrin specificity, resulting in more targeted clot dissolution and reduced risk of bleeding complications. The development and introduction of novel thrombolytic drugs are expected to drive the market growth and provide healthcare providers with more treatment options.
• Minimally invasive delivery systems: Advances in medical device technology have led to the development of minimally invasive delivery systems for fibrinolytic therapy. Catheter-based delivery methods, including intra-arterial and intravenous catheters, allow for localized drug administration, directly to the site of the clot. This trend enables more precise and targeted delivery of fibrinolytic agents, thus minimizing the systemic effects and improving treatment outcomes.
• Increasing preference for endovascular interventions: Endovascular interventions, such as percutaneous coronary intervention (PCI) and endovascular thrombectomy, are increasingly being used in combination with fibrinolytic therapy for the management of cardiovascular diseases. These procedures involve the mechanical removal of blood clots and can be performed alongside or after fibrinolytic therapy to achieve optimal revascularization. The trend towards endovascular interventions is shaping the fibrinolytic therapy landscape, with a focus on combination treatments.
• Rising focus on time-sensitive treatment: Fibrinolytic therapy is most effective when administered promptly after the onset of symptoms in conditions like myocardial infarction and ischemic stroke. The emphasis on time-sensitive treatment, commonly known as "door-to-needle" time, aims to minimize delays in initiating fibrinolytic therapy. Healthcare systems and providers are implementing strategies and protocols to ensure timely administration of fibrinolytic therapy, thereby ultimately improving patient outcomes.

Global Fibrinolytic Therapy Market Restraints

• Limited efficacy in certain patient populations: Fibrinolytic therapy may have limited efficacy in specific patient populations, such as those with large or organized clots, advanced age, or comorbidities. These factors can reduce the effectiveness of fibrinolytic agents and limit their ability to restore blood flow adequately. In such cases, alternative treatment modalities like interventional procedures may be preferred, thus impacting the demand for fibrinolytic therapy.
• Risk of bleeding complications: Fibrinolytic therapy carries a risk of bleeding complications, including major bleeding events. The use of fibrinolytic agents increases the risk of systemic hemorrhage, which can be life-threatening. This risk restricts the use of fibrinolytic therapy in certain patient populations, such as those with an increased propensity for bleeding or surgery. The concern over bleeding complications may lead to cautious adoption and utilization of fibrinolytic therapy.
• Availability of alternative treatment modalities: The availability of alternative treatment modalities, such as percutaneous coronary intervention (PCI) for myocardial infarction and endovascular thrombectomy for ischemic stroke, poses a restraint on the fibrinolytic therapy market. These interventions offer more direct and precise clot removal, thereby potentially yielding better outcomes in certain cases. The increasing adoption of these alternative procedures may limit the use of fibrinolytic therapy, particularly in regions with better access to interventional facilities.
• Time sensitivity and door-to-needle delays: Fibrinolytic therapy is most effective when administered promptly after the onset of symptoms. However, delays in seeking medical care and the time required for diagnostic evaluations can result in prolonged "door-to-needle" times. Achieving optimal treatment times can be challenging in various settings, such as rural areas, where access to healthcare facilities may be limited. Delayed initiation of fibrinolytic therapy can impact its effectiveness and limit its applicability.

Counterbalance: The key market players of the global fibrinolytic therapy market must ensure direct and precise clot removal to provide better outcomes and be in competition with other available alternatives. The complication of bleeding, which is related to the fibrinolytic therapy, and which is often life-threatening, needs to be reduced for its wide spread adoption.

Figure 2. Global Fibrinolytic Therapy Market Share (%), By Drug Type, 2023

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Recent Developments

Research and Development

• Genentech, Inc., a biotechnology company, in collaboration with Memorial Healthcare System, a provider of healthcare services, initiated study in June 2021, of Intrapleural Fibrinolytic Therapy to Enhance Chemical Pleurodesis versus Standard of care Talc therapy in patients with recurrent pleural effusion. The study is expected to get ccompleted by December 2024.
• In December 2021, Grand Pharma (China) Co., Ltd., a pharmaceutical company, initiated research study to evaluate the safety and efficacy of tirofiban in combination with intravenous thrombolytic therapy with alteplase in acute ischemic stroke.

Top Companies in Global Fibrinolytic Therapy Market

• Genentech, Inc. (Roche)
• Bayer AG
• Boehringer Ingelheim International GmbH
• Pfizer Inc.
• Bristol Myers Squibb Company
• Novartis AG
• AstraZeneca PLC
• Johnson & Johnson
• Daiichi Sankyo Company, Limited
• Merck & Co., Inc.
• Sanofi S.A.
• Takeda Pharmaceutical Company Limited
• Abbott Laboratories
• Mallinckrodt Pharmaceuticals
• Mitsubishi Tanabe Pharma Corporation

Definition: Fibrinolytic therapy refers to the use of medications or agents that help dissolve blood clots (thrombi) in the body. It involves the administration of fibrinolytic drugs, such as tissue plasminogen activators (tPAs), to activate the body's natural clot-dissolving process. Fibrinolytic therapy is primarily used in emergency situations, such as acute myocardial infarction (heart attack) and ischemic stroke, to restore blood flow and prevent further damage. The therapy aims to dissolve the clot and reestablish normal blood circulation, thereby improving patient outcomes.