The global Fibrinolytic Therapy Market is estimated to be valued at US$ 34.96 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Fibrinolytic therapy involves the administration of drug therapy to dissolve clots in the circulatory system. Fibrinolytic drugs work by activating plasminogen which degrades fibrin in clots. This helps in restoring blood flow of vital organs. Key advantages include reducing damage to tissues and decreasing complications associated with blocked arteries and veins.

Market key trends:

One of the primary drivers of the market is the growing preference for catheter-directed fibrinolytic therapy for treating deep vein thrombosis (DVT). This minimally invasive treatment involves infusion of fibrinolytic drugs directly into the clot through catheters. It has proven to be safer and more effective than conventional medication-based therapy. Studies show catheter-directed fibrinolytic therapy leads to better clot dissolution, shorter hospital stays and reduced long-term complications of post-thrombotic syndrome. Experts believe its selectivity in targeting the clot makes it superior to standard treatment approaches. Therefore, it is fast becoming the go-to option for DVT patients and driving growth of fibrinolytic therapy uptake.

Segment Analysis

The Fibrinolytic Therapy Market Size is dominated by tissue plasminogen activator (TPA) segment, which holds more than 50% share of the market. TPA drugs are the preferred treatment option for acute myocardial infarction and ischemic stroke patients within 3-4.5 hours of symptom onset. Their efficiency in dissolving blood clots formed during cardiovascular events makes these drugs an integral part of reperfusion therapy.

Key Takeaways

The global fibrinolytic therapy market is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period, due to increasing prevalence of cardiovascular diseases and growing adoption of reperfusion therapies.

The North America region currently dominates the market and is expected to continue its dominance over the forecast period. This is attributed to growing geriatric population, increasing healthcare expenditure, and rising preference for minimally invasive treatments in the region.

Key players operating in the fibrinolytic therapy market are Genentech, Inc. (Roche), Bayer AG, Boehringer Ingelheim International GmbH, Pfizer Inc., Bristol Myers Squibb Company, Novartis AG, AstraZeneca PLC, Johnson & Johnson, Daiichi Sankyo Company, Limited, Merck & Co., Inc., Sanofi S.A., Takeda Pharmaceutical Company Limited, Abbott Laboratories, Mallinckrodt Pharmaceuticals, Mitsubishi Tanabe Pharma Corporation. key players are focused on new product launches and approvals to expand their product portfolio. For instance, in 2022, Roche received FDA approval for Vabysmo (faricimab-svoa), an intravitreal injection for the treatment of neovascular age-related macular degeneration and diabetic macular edema.

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