Tissue plasminogen activator (TPA) is a fibrinolytic agent or thrombolytic drug administered to treat pulmonary embolism and acute ischemic stroke. TPA works by binding to plasminogen and converting it into the active protease plasmin, which then degrades fibrin and breaks down blood clots. The growing prevalence of cardiovascular diseases, increasing demand for minimally invasive procedures, and technological advancements in thrombectomy devices are majorly fueling the demand for TPA.
The Global Tissue Plasminogen Activator Market is estimated to be valued at US$ 2.98 Mn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2030.
Market Drivers
The rapid growth in the geriatric population is one of the key factors driving the tissue plasminogen activator market. According to WHO, the global geriatric population is expected to reach 2 billion by 2050 from 727 million in 2020. Elderly people are more susceptible to cardiovascular diseases such as deep vein thrombosis, pulmonary embolism, and stroke. This is augmenting the demand for TPA drugs for minimally invasive treatment of blood clots. Additionally, increasing prevalence of obesity, sedentary lifestyles, and unhealthy diets leading to diabetes and high blood pressure are further propelling the incidence of thrombotic disorders worldwide.
Challenges in the Tissue Plasminogen Activator Market
The Tissue Plasminogen Activator (TPA) Market is growing at a significant pace globally. However, there are certain challenges currently faced by the industry. One of the major challenges is the high cost of angiography devices and systems used in TPA administration. Equipment like CT Scanners, MRI machines and other imaging devices required for diagnosis and stroke treatment are expensive for many hospitals and healthcare facilities across regions. This acts as a hindrance for wider adaption. Secondly, lack of awareness among people about early signs of stroke and importance of immediate medical help is another challenge. Many people delay hospital visit which can impact treatment efficacy of tPA. Greater awareness campaigns are required to educate public. Timely availability of therapy is also critical for stroke patients. However, shortage of stroke specialists, neurologists and other trained staff needed for administering tPA within therapeutic window period poses difficulties. Investments are required in building necessary healthcare infrastructure and workforce across regions for addressing this challenge.
SWOT Analysis
Strength: TPA has proven efficacy in ischemic stroke treatment and improving patient outcomes. It remains the gold standard non-surgical therapy for dissolve blood clots.
Weakness: Narrow therapeutic window period of just 4.5 hours from stroke onset for administration. Also, higher risk of Intracerebral hemorrhage as side effect.
Opportunity: Large patient pool suffering from stroke worldwide presents major market potential. Rising healthcare spends will increase adaption.
Threats: Entry of alternative newer therapies and recombinant forms of PA that can improve safety profile of TPA. Stiff competition expected from companies.
Geographical Regions
North America region currently accounts for the largest share in the global Tissue Plasminogen Activator market in terms of value owing to presence of major players, high healthcare spending, developed healthcare infrastructure and greater awareness level. The United States holds majority of the regional market currently due to large patient numbers and extensive medical reimbursements.
Asia Pacific is expected to witness fastest growth over forecast period from 2024 to 2030. This can be attributed to rapidly increasing geriatric population base, growing prevalence of cardiovascular diseases and stroke in nations like China and India. Rising healthcare infrastructure and expenditures will also aid industry expansion in Asian countries. Greater focus of international players on emerging Asia economies will further stimulate regional market growth prospects.
Current challenges in the Tissue Plasminogen Activator Market
One of the major current challenges in the Tissue Plasminogen Activator Market Demand is creating greater public awareness about early signs of stroke and importance of urgent medical treatment. Many patients delay hospital visits during initial critical hours which impacts efficacy of tPA therapy. Another major challenge is lack of proper stroke treatment facilities and trained neuro interventional staff in many parts globally including rural and remote regions. Treating acute ischemic stroke patients with TPA within golden hour requires adequate healthcare infrastructure and workforce which is still lacking across vast geographies. Shortage of neurologists and specialized doctors remains a prominent issue. High costs of tPA drugs and imaging diagnostic equipment is also a hurdle for widespread adoption, especially in low and middle income nations with budget constraints. Addressing awareness, ensuring infrastructure accessibility and reducing therapy expenses are some of the key imperatives currently faced by the industry. Initiatives are required across healthcare systems and player collaborations to help meet these challenges.
Key Takeaways
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, Cook Medical LLC.
The key opportunities in the market include growing demand for minimally invasive thrombectomy procedures and the availability of novel TPA drugs with reduced side effects. Technological advancements in thrombectomy devices such as stent retrievers and aspiration catheters are improving treatment outcomes of acute ischemic stroke.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
