TISSUE PLASMINOGEN ACTIVATOR MARKET ANALYSIS

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% during the forecast period (2023-2030).

Analysts’ Views on Global Tissue Plasminogen Activator Market:

Robust pipeline of tissue plasminogen activator drugs and increasing initiatives and awareness programs related to ischemic stroke and myocardial infarction are expected to drive the global tissue plasminogen activator market growth over forecast period.

Figure 1. Global Tissue Plasminogen Activator Market Share (%), By Drug Type, 2023

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Global Tissue Plasminogen Activator Market – Drivers

• Increasing Incidence of Stroke: Tissue plasminogen activator (tPA) is an enzyme that is associated with the disintegration of blood clots. It is a serine protease present in endothelial cells.The conversion of plasminogen to plasmin is catalyzed with the help of serine protease.  Serine protease is a major enzyme for clot disintegration. Tissue plasminogen activator is the first and only drug approved by the U.S. FDA in 1996 for the treatment of acute ischemic stroke. Increasing incidence of stroke is expected to drive the market growth during the forecast period.For instance, according to the World Health Organization, in October 2022, as per the Global Stroke Factsheet 2022, the lifetime risk of an individual suffering from a stroke has grown by 50% in the previous 17 years, and one in every four persons is now expected to have a stroke in their lifetime. The most remarkable fact is that lower and lower-middle-income nations bear the majority of the global stroke burden (86% of stroke fatalities and 89% of DALYs).
• Technological Advancements: Various research institutes and market players are focusing on developing advanced treatment by using tissue plasminogen activators for treatment of stokes, and other, and this is expected to drive the global tissue plasminogen activator market growth over forecast period. For instance, in June 2021, Imperial College London, U.K. researchers stated that by encasing tissue plasminogen activator (tPA) in newly developed small capsules, it may be targeted more specifically to hazardous blood clots with enhanced circulation time. The nanocapsules were developed by the researchers to adhere to active platelets in thrombi, release the tPA payload, and disintegrate clots.

Figure 2. Global Tissue Plasminogen Activator Market Share (%), By Region, 2023

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Global Tissue Plasminogen Activator Market- Regional Analysis

Among region, North America is estimated to hold a dominant position in the global tissue plasminogen activator market over the forecast period. North America is estimated to hold 40.1 % of the market share in 2023. The market is expected to witness significant growth in the near future due to rising product approvals by regulatory authorities in U.S. For instance, in June 2021, the U.S. Food and Drug Administration (FDA) had authorized or approved Ryplazim (plasminogen, human-tvmh) a drug developed by ProMetic Biotherapeutics Inc., a biopharmaceutical company for the treatment of individuals with plasminogen deficiency type 1, commonly known as hypoplasminogenemia, a disease that can impede normal tissue and organ function and can lead to blindness.

Global Tissue Plasminogen Activator Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of things from one place to another.

However, the COVID-19 pandemic had a slight positive impact on the global tissue plasminogen activator market, owing to use of tissue plasminogen activator (tPA) in treating COVID-19. For instance,  according to a new study published in the Journal of Trauma and Acute Care Surgery in March 2020, the anticoagulation drug tPA could be a potential aid in managing respiratory failure in COVID-19 patients, alleviating the expected shortage of ventilators for patients with severe COVID-19 infections.

Global Tissue Plasminogen Activator Market- Segmentation

Global tissue plasminogen activator market report is segmented into by drug type, by application, and by region.

• Based on Drug Type, the market is segmented into alteplase, reteplase, and tenecteplase. Out of which, tenecteplase segment is expected to hold a dominant position in the global tissue plasminogen activator market during the forecast period due to increasing clinical trials related to tenecteplase.
• By Application, the market is segmented into ischemic stroke, myocardial infarction, pulmonary embolism, thrombolysis, and others. Out of which, ischemic stroke segment is expected to dominate the market over the forecast period due to rising awareness about stroke among people.
• By Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, North America is expected to dominate the market over forecast period due to increasing investment and funding in the research and development of tissue plasminogen activator.
• Among all the segmentation, the drug type segment is expected to dominate the market over the forecast period due to increasing product launches by market players.

Global Tissue Plasminogen Activator Market - Cross Sectional Analysis

Among application segment, ischemic stroke segment is expected to be dominant in the Europe region, owing to increasing prevalence of stroke. For instance, according to Age and Ageing journal, in March 2020, the number of strokes in the U.K. every year is expected to increase by 60%, while the number of stroke survivors is expected to double.

Global Tissue Plasminogen Activator Market: Key Developments

In July 2021, Boehringer Ingelheim GmbH, a worldwide pharmaceutical company, announced its plan to initiate Phase III part of its Phase II/III TRISTARDS clinical study of alteplase to treat COVID-19 patients with acute respiratory distress syndrome (ARDS). The drug demonstrated a promising safety and effectiveness profile in an interim review of the study, which has completed the exploratory open-label Phase IIb phase with 62 patients.

In May 2021, Biogen Inc., a pharmaceutical company that focuses on neuroscience drugs, and TMS Co., Ltd., a clinical stage biotechnology company, announced that Biogen Inc. exercised its option to acquire TMS-007, a clinical-stage drug for acute ischemic stroke, from TMS Co., Ltd. The acquisition of TMS-007 by Biogen Inc. was based on favorable findings from a Phase 2a research. TMS-007 is a small molecule plasminogen activator with a unique hypothesized mode of action linked to dissolving blood clots and perhaps preventing local inflammation at the site of thrombosis.

In February 2020, Reliance Life Sciences Private Limited, a research-driven organization, launched three biosimilars to the market: interferon beta, reteplase, and human chorionic gonadotropin. Reteplase is a purified version of human tissue plasminogen activator that is used to treat myocardial infarction, ischemic stroke, and pulmonary embolism in the event of an emergency.

Global Tissue Plasminogen Activator Market: Key Trends

• Increasing Number of Pipeline Products: Increasing number of pipeline products for the treatment of acute ischemic stroke is expected to drive the global tissue plasminogen activator market in the near future. In December 2022, University of Calgary, a research university in Canada, completed the investigational clinical trials study on alteplase in comparison with tenecteplase for the treatment of acute ischemic stroke. Tenecteplase was found to be safe and effective.

Global Tissue Plasminogen Activator Market: Restraint

• Termination of Clinical Trials: Market players are terminating the clinical trials of tissue plasminogen activator, and this is expected to hinder the market growth over forecast period. In July 2023, F. Hoffmann-La Roche AG or Roche, a global healthcare company, announced that it had removed its thrombolytic drug tenecteplase from phase 3 for for acute ischaemic stroke, along with several earlier-stage projects. The discontinuations came as Roche admitted that it needs to bolster its late-stage pipeline after a series of setbacks for projects such as breast cancer therapies and others.

To counterbalance the restraint, key players should focus on receiving funds to increase their research and development activities.

 Global Tissue Plasminogen Activator Market - Key Players

Major players operating in the global tissue plasminogen activator market include F. Hoffmann-La Roche AG, Boehringer Ingelheim GmbH, CHIESI Farmaceutici S.p.A., Gennova Biopharmaceuticals Ltd, Abbott Laboratories, and Reliance Life Sciences.

*Definition: TPA tissue plasminogen activator is produced by using recombinant technology techniques known as recombinant tissue plasminogen activator (rtPA). Specific rtPAs are tenecteplase, alteplase, and reteplase. These enzymes are used in clinical treatment of thrombotic stroke or embolic stroke. tPA is a drug that dissolves blood clots. It is a thrombolytic agent which can be administrated into the veins.