Tissue Plasminogen Activator connected with Roche dominance expands market

 
Tissue Plasminogen Activator 

Market Overview:


Tissue plasminogen activator (tPA) is a protein involved in the breakdown of blood clots. tPA is produced naturally in cells that line arteries and veins, and it enters the bloodstream in response to injury in order to dissolve clots and prevent larger clots from forming. Recombinant tPA is a manufactured version of tPA produced through biotechnology that is used clinically in the treatment of ischemic strokes. By allowing faster restoration of blood flow, tPA has been shown to significantly improve outcomes for stroke patients when administered within 4.5 hours of symptom onset. The need for swift treatment of ischemic strokes and advantages of recombinant tPA over other thrombolytic agents like increased efficiency and specificity for clots drive demand in the tPA market.

Market key trends:

One of the key trends in the global tPA market is the dominance of Roche's brand Activase. Activase accounted for over 90% of the tPA market share in 2022. The drug has been the gold standard treatment for ischemic strokes for over 30 years. Roche holds valuable patents protecting Activase which is a major barrier for other manufacturers to enter the market. The expiry of these patents after 2023 may see increased competition from biosimilar tPAs. However, Roche's strong brand recognition and reputation are likely to maintain its market leadership position over the forecast period.

Porter’s Analysis Content
Threat of new entrants: The Tissue Plasminogen Activator Market Size has moderate threat of new entrants due to high research costs involved in the development of new drugs and the requirement of strong distribution networks.
Bargaining power of buyers: The bargaining power of buyers is moderate as tissue plasminogen activator is a biological drug without substitutes for treating stroke and acute myocardial infarction.
Bargaining power of suppliers: A few major pharmaceutical companies dominate the supply market. Hence, the bargaining power of suppliers is high in this market.
Threat of new substitutes: Currently, there are no appropriate substitutes available for tissue plasminogen activators. Hence, the threat from substitutes is low.
Competitive rivalry: The tissue plasminogen activator market witnesses high competitive rivalry amongst major players.

Key Takeaways

The global tissue plasminogen activator market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period 2023-2030, due to increasing incidences of cardiac diseases and strokes. The market was valued at US$ 2.58 Bn in 2023.

Regionally, North America dominated the global tissue plasminogen activator market in 2023 due to rising prevalence of cardiovascular diseases and adoption of tissue plasminogen activator therapy. However, Asia Pacific is expected to exhibit the fastest growth over the forecast period owing to the large patient pool and improving healthcare infrastructure in developing countries of the region.

Key players operating in the 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. Major players are focusing on new product launches and strategic collaborations to gain higher market share.

Read More:

https://www.dailyprbulletin.com/tissue-plasminogen-activator-market-growth-demand-and-siz/

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