Tissue plasminogen activator (tPA) is a fibrinolytic agent administered to patients experiencing an acute ischemic stroke. It works by dissolving blood clots and restoring blood flow to the brain. The drugs play an integral role in treating conditions like heart attack, deep vein thrombosis, and pulmonary embolism. With rising incidences of strokes worldwide due to lifestyle changes, aging populations and other risk factors, the demand for tPA drugs is growing significantly. As per statistics, over 15 million people globally suffer from strokes each year resulting in 5 million deaths.
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 15% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The major trend in the market is the development of newer generation tPA drugs with improved efficacy and safety profiles. Several pharmaceutical companies are investing heavily in R&D to manufacture enhanced tPA molecules that can effectively dissolve blood clots faster while posing minimal risks of hemorrhage. For instance, candidate drug Elinogrel combines tPA with a P2Y12 inhibitor to expedite clot lysis. Similarly, Tenecteplase is a genetically engineered tPA variant approved for treating strokes. It has a longer half-life allowing for single bolus administration. As research yields better molecules, their commercial availability will significantly boost the tissue plasminogen activator industry.
Porter's Analysis
Threat of new entrants: Low economies of scale and strict regulations make entry difficult.
Bargaining power of buyers: Due to limited options available, buyers have less bargaining power.
Bargaining power of suppliers: Majority of suppliers collaborate with key players making supplier power lower.
Threat of new substitutes: No major substitutes available at present but new alternatives in research can change the scenario.
Competitive rivalry: Presence of major players offering innovative products intensifies rivalry in the market.
Key Takeaways
The Global Tissue Plasminogen Activator Market is expected to witness high growth. The market in North America currently holds the largest share due to availability of advanced treatment options and high healthcare expenditure. Asia Pacific is expected to grow at the fastest pace over the forecast period owing to increasing healthcare spending and rising incidences of cardiovascular diseases in the region.
Key players operating in the Tissue Plasminogen Activator market are Novocure, Magstim, Brainsway, Boston Scientific Corporation, OTTO Bock, Wandong Medical, Yiruide Medical Equipment, MagVenture, Biomobie, and Cerbomed. Novocure leads the market with its innovative treatment offerings in the therapy devices segment. Boston Scientific holds a major share in the catheter devices segment. The key players are focusing on new product launches and geographic expansion to strengthen their market position.
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The latest trending report Global Plasminogen Market 2020 by Manufacturers, Regions, Type and Application, Forecast to 2025 offered by DecisionDatabases.com is an informative study covering the market with detailed analysis.
The report will assist reader with better understanding and decision making.The global Plasminogen market size is expected to gain market growth in the forecast period of 2020 to 2025, with a CAGR of 4.6% in the forecast period of 2020 to 2025 and will expected to reach USD 15440 million by 2025, from USD 12900 million in 2019.The Plasminogen market report provides a detailed analysis of global market size, regional and country-level market size, segmentation market growth, market share, competitive Landscape, sales analysis, impact of domestic and global market players, value chain optimization, trade regulations, recent developments, opportunities analysis, strategic market growth analysis, product launches, area marketplace expanding, and technological innovations.Browse the complete report and table of contents @ https://www.decisiondatabases.com/ip/17686-plasminogen-market-analysis-reportMarket segmentationPlasminogen market is split by Type and by Application.
For the period 2015-2025, the growth among segments provide accurate calculations and forecasts for sales by Type and by Application in terms of volume and value.
This analysis can help you expand your business by targeting qualified niche markets.By Type, Plasminogen market has been segmented into Intravenous Injection, Eye Drops, etc.By Application, Plasminogen has been segmented into Ligneous Conjunctivitis, Diabetic Foot, Wound Healing, Others, etc.Regions and Countries Level AnalysisRegional analysis is another highly comprehensive part of the research and analysis study of the global Plasminogen market presented in the report.
For the historical and forecast period 2015 to 2025, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global Plasminogen market.The report offers in-depth assessment of the growth and other aspects of the Plasminogen market in important countries (regions), including United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc.
It also throws light on the progress of key regional Plasminogen markets such as North America, Europe, Asia-Pacific, South America and Middle East & Africa.Competitive Landscape and Plasminogen Market Share AnalysisPlasminogen competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, Plasminogen sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch.
