The global Tissue Plasminogen Activator Market Growth Accelerated by Increased Demand for Minimally Invasive Treatments
Tissue plasminogen activator is a clot-busting drug used in the treatment of stroke. It helps dissolve dangerous clots and restore blood flow. Tissue plasminogen activator has the advantage of being highly effective when administered shortly after the onset of stroke symptoms. Its targeted action minimizes systemic bleeding risk compared to alternative thrombolytic agents. The surging cases of strokes worldwide have boosted the demand for clot-dissolving drugs like tissue plasminogen activator.
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 growing preference for minimally invasive interventions for the treatment of strokes and blood clots is a major trend driving the tissue plasminogen activator market. The needle-free and catheter-based administration of tissue plasminogen activatordissolves dangerous clots through small holes, minimizing surgical trauma compared to conventional surgeries. This has significantly increased the adoption of tissue plasminogen activator among healthcare professionals and patients worldwide. The availability of innovative drug delivery modes like pre-filled syringes has further simplified the administration process and ease of use of tissue plasminogen activator, fueling market revenues.
Segment Analysis
The global tissue plasminogen activator market is segmented on the basis of type, application and end user. Based on type, the market is segmented into alteplase, retoplase and tenecteplase. Among these, the alteplase segment dominates the market due to its higher efficacy in treating acute ischemic strokes compared to other variants. Based on application, the market is classified into coronary thrombolysis, pulmonary thrombolysis, and ischemic stroke. The ischemic stroke segment dominated the market in 2023 due to high prevalence of strokes worldwide. Based on end user, the market is divided into hospitals & clinics and ambulatory surgical centers. The hospitals & clinics segment accounted for the largest share of the market in 2023 due to availability of advanced infrastructure for emergency treatment of strokes and availability of skilled healthcare professionals.
Key Takeaways
The Global Tissue Plasminogen Activator Market Demand 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: North America dominated the global tissue plasminogen activator market in 2023 owing to increasing prevalence of strokes and strong healthcare infrastructure in the region for emergency treatment. Asia Pacific is expected grow at the fastest rate during the forecast period supported by improving healthcare facilities, increasing disposable incomes and growth in medical tourism in countries such as India, China and Japan.
Key players: Key players operating in the tissue plasminogen activator market are Siemens Healthineers AG, GE Healthcare, Koninklijke Philips N.V., Canon Medical Systems Corporation, Shimadzu Corporation, Hitachi, Ltd., Carestream Health, Inc., Medtronic plc, Stryker Corporation, Terumo Corporation, Boston Scientific Corporation, AngioDynamics, Inc., Penumbra, Inc., MicroPort Scientific Corporation, and Cook Medical LLC. Stryker Corporation is a leader in the market owing to its diverse product portfolio for minimally invasive neurovascular procedures.
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