Ischemia Reperfusion Injury Therapeutics Market to Surpass US$ 3.09 Bn by 2030
Global Ischemia Reperfusion Injury Therapeutics Market market, By Treatment (Drug Therapy, Medicated Gas, and Others (Vitamin Therapy and among Others)), By Injury (Heart Injury, Kidney Injury, Intestine Injury, and Others (Brain and among Others)) By End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others (Academic and Research Institutes and among Others)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2.06 Bn in 2023 and is expected to exhibit a CAGR of 6% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing adoption of various growth strategies such as agreement and others by the key market players is expected to propel the market growth over the forecast period. For instance, in March 2021, Faraday Pharmaceuticals, Inc., a biopharmaceutical company developing therapeutics to
treat patients experiencing potentially life changing critical illness, announced that they had signed an agreement with the U.S. Food and Drug Administration (FDA) under a Special Protocol Assessment (SPA) on the protocol design and statistical analysis approach to be taken in Faraday's Phase 3 cardiovascular outcomes study evaluating FDY-5301 for the treatment of acute ST-segment elevation myocardial infarction (STEMI) in patients undergoing percutaneous intervention (PCI).
Similarly, In January 2020, Revive Therapeutics Ltd., a cannabis life sciences company, provided an update regarding its clinical development plan for treatment of liver disorders. The aim of the company is to expand its product pipeline by leveraging its U.S. FDA orphan drug designation for Cannabidiol in the prevention of ischemia reperfusion injury from organ transplantation.
Global Ischemia Reperfusion Injury Therapeutics Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the global ischemia reperfusion injury therapeutics market, as COVID-19 pandemic led to decrease in the number of general/elective surgeries, leading to a decline in the number of cases of ischemia reperfusion injury. For instance, in June 2021, according to the report published in National Center for Biotechnology Information, reported that during the Covid-19 pandemic there was a 91% reduction from baseline in the number of elective surgeries performed allowing 78% of surgical ICU beds to be available for COVID-19 positive patients in the U.S.
Global Ischemia Reperfusion Injury Therapeutics Market: Key Developments
Increasing research & development activities by market payers is expected to drive the market growth over the forecast period. For instance, on July 6, 2023, Revive Therapeutics Ltd., a life sciences company focused on the research & development of therapeutics for medical needs and rare disorders, announced results of the Company’s Phase 3 clinical trial (NCT04504734) evaluating the safety and efficacy of oral Bucillamine in patients with mild to moderate COVID-19. Bucillamine in an intravenous and inhaled version to expand on its potential therapeutic utility targeting rare disorders such as ischemia-reperfusion injury (i.e. organ transplantation), acute respiratory distress syndrome, potential medical countermeasures and others.
Similarly, on May 12, 2023, Revive Therapeutics Ltd., a specialty life sciences company, announced an update on the company’s U.S. Food & Drug Administration Phase 3 clinical trial (NCT04504734) to evaluate the safety and efficacy of Bucillamine, an oral drug with anti-inflammatory and antiviral properties, in patients with mild to moderate COVID-19. The company stated that on May 10, 2023, the independent Data Safety Monitoring Board (“DSMB”) met to review the Study’s Post-Dose selection data under the current Study’s protocol primary endpoint, the proportion of patients meeting a composite endpoint of hospitalization or death from time of first dose through Day 28 following randomization.
Moreover, in November 2021, Revive Therapeutics Ltd, a life science company, announced that they had filed an application with the US Food and Drug Administration (FDA) to receive Orphan Drug Designation (ODD) for Bucillamine for the prevention of ischemia reperfusion injury (IRI) during liver transplantation.
Browse 43 Market Data Tables and 39 Figures spread through 233 Pages and in-depth TOC on “Global Ischemia Reperfusion Injury Therapeutics Market”, By Treatment (Drug Therapy, Medicated Gas, and Others (Vitamin Therapy and among Others)), By Injury (Heart Injury, Kidney Injury, Intestine Injury and Others (Brain and among Others)), By End User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, and Others(Academic and Research Institutes and among Others)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Ischemia Reperfusion Injury Therapeutics Market:
- The global ischemia reperfusion injury therapeutics market is expected to exhibit a CAGR of 6% during the forecast period due to increasing product approval from the U.S FDA (Food and Drug Administration) by the market players. For instance, in April 2021, Pharma Drug, a specialty pharmaceutical company, announced its first U.S. FDA Orphan Drug Designation of DMT (dimethyltryptamine) for the Prevention of Ischemia-Reperfusion Injury from Organ Transplantation which includes the liver, kidney, heart and lung.
- Among Injury type, heart injury segment is expected to be the dominant in the global ischemia reperfusion injury therapeutics market, owing to it being a common type of ischemia reperfusion, and across the world, as heart attack is the leading cause of death and disabilities. For instance, On May 15, 2023, according to the report published by the Centers for Disease Control and Prevention, reported that every year, about 805,000 people in the U.S have a heart attack, while someone has a heart attack every 40 seconds.
- Among regions, North America is expected to be the dominant region in the global ischemia reperfusion injury therapeutics market, owing to the increasing adoption of various growth strategies such as agreement, collaboration, and others by the market players. For instance, in June 2021, Revive Therapeutics Ltd., a specialty life sciences company, announced that they had entered into an agreement with the University of Health Sciences Antigua (“UHSA”) to collaborate on utilizing Reviver’s novel psychedelic-assisted therapies and pioneering the clinical research & development of psychedelics in Antigua and Barbuda.
- Major players operating in the global ischemia reperfusion injury therapeutics market include Revive Therapeutics Ltd., Faraday Pharmaceuticals, Abiomed, Omeros Corporation, Pharming Group N.V., Nyken B.V., Orexo AB, Opsona Therapeutics Limited, PledPharma AB, Prothix BV, Proteo, Inc., Amyndas Pharmaceuticals LLC, Prolong Pharmaceuticals, Stealth BioTherapeutics Inc., Zealand Pharma A/S, Antipodean Pharmaceuticals, Inc., Bayer AG, Angion Biomedica Corp., Bolder Biotechnology, Inc., Curatis Pharma GmbH, Biomedica Management Corporation, Ensemble Therapeutics Corporation, Gilead Sciences, Inc., and Erimos Pharmaceuticals, LLC.
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