Global Tissue Plasminogen Activator Market, By Drug Type (Alteplase, Reteplase, and Tenecteplase), By Application (Ischemic Stroke, Myocardial Infarction, Pulmonary Embolism, Thrombolysis, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Government of various countries are focusing on initiatives related to heart disease and healthcare, and this is expected to drive the global tissue plasminogen activator market growth. For instance, in August 2022, the U.S. Department of Health and Human Services (HHS), in collaboration with the Health Resources and Services Administration (HRSA), disclosed an allocation of approximately US$ 60 million in investments. These investments are designated to enhance the healthcare workforce and bolster access to high-quality healthcare services in rural areas characterized by elevated incidences of heart disease, respiratory conditions, cancer, stroke, accidental injuries, suicide, as well as an increased vulnerability to maternal morbidity and mortality. Notably, this funding includes an allocation of nearly US$ 46 million derived from the American Rescue Plan spearheaded by President Biden.
Global Tissue Plasminogen Activator Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems regarding transportation of raw materials and manufacturing supplies from one place to another.
COVID-19 had slight positive impact on global tissue plasminogen activator market as tissue plasminogen activator (tPA) is being investigated as a treatment for the COVID-19 disease. For instance, according to Journal of Thrombosis and Hemostasis, in July 2020, a series of three patients with severe COVID-19 respiratory failure were treated with tissue plasminogen activator in Massachusetts, U.S. all three patients had a temporally related improvement in their respiratory status, with one of them being a durable response.
Global Tissue Plasminogen Activator Market: Key Developments
For instance, according to the Journal of the American Heart Association, in November 2021, a trial was conducted in U.S. where patients treated with alteplase (tPA) (October 2019–April 2020) were compared with those treated with tenecteplase (May 2020–July 2021). It was found that Tenecteplase was associated with faster door‐to‐needle (DTN) time when compared with tPA in those with acute ischemic stroke. This can likely be attributed to the ease of single bolus administration of tenecteplase
Browse 26 Market Data Tables and 29 Figures spread through 180 Pages and in-depth TOC on “Global Tissue Plasminogen Activator Market”- Forecast to 2030, Global Tissue Plasminogen Activator Market, By Drug Type (Alteplase, Reteplase, Tenecteplase), By Application (Ischemic Stroke, Myocardial Infarction, Pulmonary Embolism, Thrombolysis, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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https://www.coherentmarketinsights.com/market-insight/tissue-plasminogen-activator-market-2469
Key Takeaways of the Global Tissue Plasminogen Activator Market:
- Global tissue plasminogen activator market is expected to exhibit a CAGR of 5.2% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global tissue plasminogen activator market.
- Among application, the ischemic stroke segment is expected to hold a dominant position in the global tissue plasminogen activator market during the forecast period due to increasing prevalence of stroke in patients. For instance, according to Centers for Disease Control and Prevention, in May 2023, 1 in 6 deaths from cardiovascular disease in the U.S. was due to stroke in 2021. A stroke affects more than 795,000 Americans each year. Of them, about 610,000 are new or first strokes. Ischemic strokes account for approximately 87% of all strokes, in which blood flow to the brain is interrupted.
- Among region, North America is expected to be the dominant region in the global tissue plasminogen activator market owing to increasing investment and funding for research of heart disease and stroke treatments. For instance, in July 2023, More than 100 scientists from throughout the U.S. were awarded grants to help fund their research into new ways to combat heart disease and stroke. The grants, worth a total of US$ 20 million, are a part of the American Heart Association's Second Century of Science Initiative, which aims to create a world where people live longer, healthier lives.
- Major players operating in the global 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
